(ARA) – If you’re an adult American, chances are you’re in debt. What would happen to that debt if you should die unexpectedly? It’s not likely your debtors would write it off. It’s far more likely they’ll pursue your estate or surviving spouse to recoup the debt. And money taken from your estate is money taken from your survivors – be they a spouse, children, parents or even siblings.

“If you have debt that will survive you, you need life insurance to protect loved ones left behind,” says Scott Luchesi, president of Garden State Life Insurance. “In today’s economic climate, where debt is more prevalent than at any other time in our history, life insurance is a must for virtually every debt-carrying adult.”

Life insurance is no longer a families-only financial planning tool. Increasingly savvy young, single professionals are also opting for life insurance as a way to ensure that their student loans, credit card debt, car loans and other debts won’t diminish the estate they may leave behind to parents, siblings or other survivors. Families also continue to rely on life insurance to replace the deceased’s income, pay off mortgages and provide for children’s education.

Stiff competition in the insurance industry has created a new crop of affordable, exam-free term products, like Garden State’s BudgetGard. These are continuing to grow in popularity as more consumers realize that term life provides the best coverage value for their money, and is more convenient and less intrusive than applying for a life insurance policy that requires a medical exam.

“With term life, you purchase a policy with affordable monthly premiums for a specific term,” says Luchesi. “If you die during that term, your beneficiary receives the full policy value, just as they would with a whole life policy. The advantage to you is that the premiums are generally far lower for term than with other types of policies, and you can use that savings in premium to apply more money towards reducing your debt more quickly or saving for your future.”

With BudgetGard term life, you won’t need to take a health exam and your premium is guaranteed not to increase for the level premium period you choose – one, seven, 15 or even 20 years.

To obtain a fast, free quote for term life insurance, visit www.budgetgard.com.

(ARA) – The U.S. dollar continues to decline in value and fears about inflation are growing faster than previously expected. In a short period of time, Americans have lost trillions from their investment portfolios and retirement accounts, thus many are looking for a safe investment in a difficult economy.

For centuries, gold has been a reliable and solid investment, and since 2001, the value of gold has increased 300 percent. Investors who want to protect their hard-earned wealth from the floundering stock market, fluctuating dollar and uncertainty of real estate are flocking to gold because it’s a safe-haven asset with a solid history of wealth preservation and profit.

Some of the advantages of investing in gold include:

• While gold does not earn interest, the price appreciation could more than make up for it.
• Gold production cannot match demand, causing the price to increase due to lower supply.
• Gold funds have reached historic highs in recent years and are still climbing.
• Economic forces that affect other assets are different than those determining the price of gold. Gold helps reduce risk in your investment portfolio.
• Gold can easily be converted to cash.

Short-term

“Investors seeking short-term profit should look into modern-day gold bullion products,” says John Halloran, senior advisor at the Certified Gold Exchange — North America’s premier precious metals trading platform. “When mainstream investments like stocks and bonds aren’t doing well, many investors choose to diversify into bullion products. Bullion is a debt-free, physical possession asset that you own outright and has a low premium.”

Long-term

“Long-term, preservation-seeking investors should consider certified gold coins,” says Halloran. “Certified gold coins have historically proven to profit at higher ratios than bullion, while at the same time their non-government confiscation status leaves investors with peace of mind and instant liquidity during the worst of times.

The Certified Gold Exchange only buys and sells the most widely traded bullion bars, bullion coins and certified gold coins with free next day delivery to your door. They do not deal with stocks or exchange-traded funds, so there is less risk involved. Their Economic Research Team has over 40 years experience analyzing economic factors and their effects on gold; account representatives are all certified and will work with you to find the investment product that’s right for your situation.

Visit CertifiedGoldExchange.com to request your free 2009 Gold Starters Kit, which could help protect your investment portfolio and retirement account. Please make sure you check this out for yourself, since I cannot confirm all the information that I learned.

(ARA) – Reverse mortgages are a hot topic in the market and Congress right now, as both seniors and the government try to manage the financial difficulties resulting from the dismal state of the economy. In fact, the government reports a 13.9 percent increase in reverse mortgage applications this year over last year.

Anyone interested in a reverse mortgage needs to do proper research and find qualified professionals to work with, such as a trusted lender, broker and/or realtor. This becomes increasingly important as the market for these kinds of mortgages grows and more lenders and mortgage professionals enter the market to take advantage of the demand.

A reverse mortgage enables older homeowners (age 62 and older) to convert the equity in their home into ready cash, without having to sell the home or take on a new monthly mortgage payment. Loan proceeds can be taken as a lump sum, a line of credit, a fixed monthly payment, or a hybrid of these. The amount of money one can borrow depends on the homeowner’s age, the appraised value of the home, the current interest rate and the mortgage limits set by the Federal Housing Administration (FHA), among other factors.

Some key components of reverse mortgages:

• The home is the primary residence.
• Homeowners must pay off any existing mortgages with the proceeds from the reverse mortgage.
• The loan comes due when the homeowner sells the house, moves or passes away (or with couples, when the last remaining spouse passes away). Thus, the home will not be left free and clear for heirs. Heirs must repay the loan if they wish to keep the home.
• Unlike a home equity line of credit, there is no monthly payment on a reverse mortgage and, unlike traditional loans, reverse mortgages don’t have minimum-income requirements. A reverse mortgage pays the homeowner, and is available regardless of current income or credit score.
• Reverse mortgages typically have closing costs (fees) higher than those associated with a traditional second mortgage or home equity line of credit. These fees are highly regulated by HUD and there are maximum fee limits that all reverse mortgage lenders and brokers must adhere to.
• Reverse mortgages also require that you maintain the home and pay property taxes.

Reverse mortgages can provide useful options for some, but it’s important to keep in mind that the upfront costs associated with a reverse mortgage may make other options (such as a home equity loan, no-interest home repair loans, grants offered by the county government or a local non-profit, or a tax deferral program for individuals having problems paying property taxes) less expensive.

You can review and compare options for reverse mortgages through a free, no-obligation quote from Bills.com.

I have been going through a lot of this with my own Mother… Please take care, this is not for everyone…

God Bless, Nancy

C.W. Wright, past president and active member of the San Carlos Lions Club, was on hand at San Carlos Hometown Days www.sancarloshometowndays.com, and raised over $5,000 for the San Carlos Lions Youth and Community Activities fund.

Hometown Days is a weekend- long San Carlos family tradition with food, music, and family fun. Voted “Best Family Event” by Bay Area Parent Magazine, C.W. Wright also sponsored the weekend with a cash donation.

Thanks so much for all your support C.W.