The Gerber Life Parenting Blog

What parents want to know

With work, family and finances, modern parenting can sometimes feel like a juggling act. The Gerber Life parenting blog gives parents advice and tips to help you take on today-and plan for tomorrow. Our parenting blog offers articles on saving money, college planning, family insurance, parenting tips and health and safety. Although we may not be able to manage your retirement account, drive your all-star athlete to practice, or cook your family's favorite three-cheese lasagna, our parenting blog can provide you with ideas, advice and tips so that you can focus on what matters most: raising healthy, happy kids. We invite you to join the conversation and enjoy our parenting blog.

  1. Most Popular College Investment Funds

    Popular College Savings PlansWhile many people consider college savings plans the same as college investment funds, there is a difference. When you save for college using standard bank or credit union accounts, you receive a stated return (interest) at a disclosed rate.

    Technically, college investment plans generate earnings based on the performance success—or lack—of the college investment options you choose. You should also evaluate child investment options in light of the presence or absence of tax consequences for earnings and/or withdrawals.

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    Categories: College Planning
     
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  2. Buying a Term Life Insurance Plan: How Much Coverage Do You Need?

    Buying a term life insurance planA term life insurance plan is a good way to provide peace-of-mind, knowing that your loved ones will have the income they need to maintain their current standard of living if you die. Losing a spouse or parent is hard enough without financial concerns during this difficult time.

    To determine exactly how much term life insurance coverage you’ll need, follow these steps.

    1. Discuss your burial wishes with your loved one and estimate funeral expenses, typically between $5,000 and $15,000.
    2. Calculate your debt, including your mortgage. Your family will be able to live on less if they can pay off all outstanding debt in one lump sum from your life insurance settlement.
    3. Include college education for your children. Estimate college costs to rise by about 5 percent per year. If your child intends to work to pay for part of school, you may get away with slightly less.
    4. In most cases, you won’t need to replace 100 percent of your income, especially if your spouse works as well and you’re already paying for childcare. Instead, estimate amounts totaling 50 percent of your pre-tax earnings until your retirement.
    5. Subtract income from other sources to get a final term life insurance coverage estimate. Any investments you have that your spouse can tap into (not counting retirement accounts) can help defray life insurance costs.

    You’ll want to reassess your term life insurance coverage requirements over time, as your debt drops, your salary rises, or if your family or living conditions change. Look for a flexible policy that permits you to change the amount of coverage over time.

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  3. Saving Energy Is Everyone’s Responsibility

    Saving energySaving energy is not obscure science—it is a wonderful and indispensable habit. As researchers and companies large and small seek to discover renewable and alternative energy sources that could work on a prodigious scale, all of us should do our part to practice everyday conservation.

    Similar to the theory that “it takes a village to raise a child,” there is no one entity that can solve the rapidly disappearing sources of fuel and other energy. However, orchestrating the components of individuals, businesses, governments, and researchers, everyday conservation achieves not one, but two critical goals.

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    Categories: Health & Safety
  4. Regular Exercise Offers More Than Just Physical Benefits

    Regular exercise physical benefitsThe physical benefits of regular exercise are obvious. However, you’ll enjoy additional bonuses outside your dazzling annual physical exam.

    Some of the lesser recognized benefits are just as important as the physical quality of your body, effective weight management and control, and cardiovascular development. Understanding some of these extra features should help motivate you to adopt a regular exercise program, however modest, that fits your lifestyle. Regular exercise—

    • Brightens your personality. After a long day at work or facing other issues, your mood and naturally sunny personality can suffer. However, a gym visit or just a long walk will clear away the clouds and restore your positive personality.
    • Minimizes stress. Whether your stress is from career, budget, or health issues, regular exercise reduces this condition, stimulating beneficial chemicals in your brain and relaxing your body.
  5. Questions to Ask When You Get a Term Life Insurance Quote

    Getting a term life insurance quoteAre you shopping for affordable term life insurance? Here are some questions to ask life insurance companies when you shop around for a term life insurance quote.

    1. Are insurance rates fixed or variable? Variable rates on a term life insurance policy can give you a nasty surprise with your budget. If the policy does have variable rates, find out the exact terms and amounts.
    2. Is the policy renewable at the end of your term? You’ve paid a lot of money into a life insurance plan. Make sure you can renew it at the end of the term to continue your coverage uninterrupted. You may also want to find out if a medical examination is required at the end of the term before renewal.
    3. What exclusions exist with the policy? Many term life insurance plans have reasonable exclusions—but you’ll want to find out what they are so your loved ones don’t find themselves without term life insurance coverage if something happens to you.

     

    Source:  https://www.gerberlife.com/adult-life-insurance/term-life-insurance

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