Protective Life Insurance Company has a great record or working with its clients and can offer some of the best term life insurance rates available.
If you have ever shopped for life insurance, then you are probably well aware that there are several important variables that you should keep in mind when determining how and where to purchase your coverage.
First, at the top of your list, should be knowing how much protection to obtain. This is because you will not want your loved ones or other survivors to fall short when it comes to proceeds. For example, if your beneficiary (or beneficiaries) will need a certain amount to pay for final expenses or other specific debts, then it will be important to purchase at least that amount of coverage.
But equally as important, though, will be ensuring that the life insurance company through which you purchase the protection is strong and stable from a financial standpoint. This is because you will want to know that the company will be there to make good on its promise if or when the time comes for the policy’s beneficiary to file a claim. One insurer that has been positive when it comes to paying out its policyholder claims for many years running is Protective Life Insurance Company.
The History of Protective Life Insurance Company
Protective Life Insurance Company has been in the business of offering life insurance coverage for nearly 110 years. In the year 1907, the company’s founder, Governor William Dorsey Jelks started the insurer, just as President Theodore Roosevelt started his 7th year as a United States President.
Just a short two years later, in 1909, Protective Life Insurance Company paid out its very first death benefit claim – and the company has been faithfully doing so ever since. By the year 1932, after just 25 years in the business, Protective had more than $65 million of insurance in force. And, by the time the company was in business for 50 years, it had nearly $1 billion.
Throughout the years, the company has grown and expanded. In part, it has done so by acquiring other insurers. For instance, in 1997, Protective acquired West Coast Life, which helped in solidifying the insurer’s national presence. And, in 2006, Protective acquired Chase Insurance Group.
By 2007, the insurance carrier’s 100th anniversary, it had more than $252 billion of insurance coverage in force. In 2015, the company became a wholly owned subsidiary of The Dai-ichi Life Insurance Company, Ltd. Protective Life Insurance Company was, and still is, headquartered in Birmingham, Alabama.
Protective Life Insurance Company Review
Protective Life Insurance Company is known for serving its customers first. Based on testimonials, the firm is known for being flexible, as well as for providing dedicated service. Also, it is also very involved in the communities in which it serves.
The company provides a learning center directly on its website. This can help consumers to learn more about life insurance and how much protection that they may need, based on their specific situation.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-banner-1-0-asloadedmax-width:580px!important;max-height:400px!important
Protective also offers a claims center on its website, as well. Here, claims can be filed directly online. Forms can be downloaded and sent in, and questions may be asked of customer service representatives.
Reps may be contacted in a number of different ways, including via a toll-free telephone line (during business hours), email, and an email form. Business hours for reporting a life insurance claim are Monday through Thursday between 8:00 a.m. and 5:00 p.m. Central time, and Friday between 8:00 a.m. and 3:00 p.m.
Additional information is also provided within the Protective Life Insurance Company online claims filing center, such as details regarding what to do when a loved one dies, and life insurance FAQ.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-large-leaderboard-2-0-asloadedmax-width:300px!important;max-height:250px!important
Financial Strength and Ratings
Protective Life Insurance Company is considered to be a very strong and stable company from a financial standpoint. It also is well respected for paying out its policyholder claims. In 2015 alone, Protective paid out over 20,000 life insurance claims in the amount of approximately $1.9 billion. The average processing time on a life insurance claim at Protective Life Insurance Company was 6.22 days. For this reason, the company has been given high marks from the insurer ratings agencies. These ratings include the following:
A+ from A.M. Best (Superior) This is the second highest out of a possible 15 total ratings.
AA- from Standard & Poor’s (Very Strong) This is the fourth highest out of a possible 21 total ratings.
A from Fitch (Strong) This is the sixth highest out of a possible 22 total ratings.
A2 from Moody’s (Good) This is the sixth highest out of a possible 21 total ratings.
Although Protective Life Insurance Company is not BBB (Better Business Bureau) accredited, the BBB has provided Protective with the grade of A+. This is on an overall grade scale of A+ to F.
Over the past three years, Protective Life Insurance Company has closed a total of 39 complaints through the BBB. Of these, ten were closed over the past year. Of the 39 complaints that were closed during the past three years, 18 had to do with problems with the company’s products and / or services, 10 were concerning billing and / or collection issues, 3 were with regard to advertising and / or sales issues, another 3 were having to do with guarantee / warranty issues, and five had to do with other issues.
Life Insurance Products Offered Through Protective
Protective Life Insurance Company offers a wide variety of different life insurance policies to choose from. This can help its customers to gear coverage more towards their individual protection needs.
Policy types offered through Protective include the following:
Term Life Insurance
Term life insurance can provide level death benefit protection for a set amount of time. This type of life insurance doesn’t offer cash value build up, so it is often more affordable than a comparable amount of permanent insurance such as whole life or universal life coverage. Therefore, it can be a good option for those who want a nice amount of coverage, but who may not have a lot to spend in premium.
Protective Life Insurance Company offers term life insurance plans that range from 10 to 30 years in level death benefit protection.
Universal Life (UL) Insurance
Universal life insurance is a form of permanent life insurance coverage. This means that it provides both death benefit protection, as well as cash value build up. The cash value will grow tax-deferred, meaning that there is no tax due on the gain unless or until the time that it is withdrawn by the policyholder. This can allow the funds to grow and compound exponentially over time.
A universal life insurance policy can be more flexible than some other types of permanent coverage like whole life insurance. This is because the policyholder can choose – within limits – how much of their premium dollars will go towards the death benefit, and how much will go towards the cash component of the UL policy.
@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-leader-1-0-asloadedmax-width:728px!important;max-height:90px!importantThe Protective Life Insurance Company’s Custom Choice UL policy is a very affordable way to protect one’s family’s financial security if the unexpected were to occur. It offers low premiums for life, as well as a death benefit that is non-taxable (from income tax) to beneficiaries.
The premium rates can start as low as $7.32 per month – and, provided that the premium is paid, the coverage will remain in force for the remainder of the life of the insured. Also, the premium will also remain level for an extended period.
Protective Life Insurance Company also offers a survivor universal life insurance product. This could be a good option for someone who is married or part of a couple and has estate planning needs, such as helping beneficiaries to pay estate taxes and / or helping a loved one with special needs.
These types of policies are also often referred to as second-to-die or joint life insurance coverage. They cover two individuals under just one single life insurance policy – and because of that, they are often less costly than purchasing two single policies. The death benefit that is paid out will be free of income tax to the beneficiary (or beneficiaries), and the proceeds may be used for whatever needs the survivor or survivors may have.
Variable Life Insurance
Variable life insurance is another type of permanent life insurance coverage. With variable UL, there is also a death benefit and a cash value component. However, with this type of insurance coverage, there is additional flexibility with the investments that can be chosen in the cash component. For example, equities may be chosen, which can allow for additional growth. They can, however, also pose more risk. Therefore, it is important to be aware of this before getting into any variable life insurance product.
Overall, a variable universal life insurance policy will essentially combine the “core” benefit of life insurance coverage via an income tax-free death benefit, along with a great deal of flexibility for the policyholder / investor in terms of cash value / investment build up over time. It is important to note that there may also be additional fees with variable universal life insurance because of the investments that are included in the policy.
Other Coverage Products Offered
Protective Life Insurance Company also offers a Protect My Child life insurance policy. While most people do not want to ever think about the passing of a child, the truth is that sometimes accidents or illnesses do occur. In this case, the cost of final expenses and / or uncovered medical expenses can be paid through a life insurance policy on a child.
The Protect My Child policy offers coverage of between $10,000 and $100,000. Because the policy is a permanent life insurance policy, it will also have cash value build up. Therefore, the plan will have tax-deferred savings that may be used for future college costs, the down payment on a house, a wedding, or any other need down the road.
When the child turns age 18, the amount of the life insurance coverage will automatically double – at no additional premium cost. When purchasing the Protect My Child life insurance plan, premium rates can start as low as $6.37 per month. And, because the policy is permanent, the rate is locked in never to increase. This means that the child can keep this same premium rate throughout the lifetime of the policy.
How to Find the Best Premium Quotes on Life Insurance Coverage
When seeking the very best premium quotes on life insurance coverage, whether it is through Protective Life Insurance Company, Banner Life Insurance, or any other insurer, it is typically best to do so via an agency or a company that works with more than just one life insurer. This is so that you will be able to compare and contrast all of the options that are available to you, as well as the cost of each. This is not only true when seeking the best life insurance coverage but for when shopping for other forms of coverage as well such as the best auto insurance companies and rates.
We know that buying life insurance can be somewhat confusing, There are lots of details to keep in mind – and you want to be sure that you are getting the very best deal from the best insurer for your needs. We can help you in sorting it all out so that your coverage will best meet the protection requirements that you have. We can do it all without you having to meet in person with a life insurance agent. Just simply go online or give us a call. So, contact us today – we’re here to help.
While most folks are anxiously awaiting the Fed’s announcement of a potential rate hike, homeowners are continuing to enjoy record low mortgage rates that can be locked in for decades. And that doesn’t appear to be changing anytime soon.
Mortgage rates actually hit rock bottom back in late 2012 and early 2013, depending on the loan product, but on the whole 2016 will be a better year for mortgage rates.
Lowest Average Mortgage Rate in Decades
A new monthly outlook from mortgage financier Freddie Mac revealed that the 30-year fixed mortgage is expected to average 3.6% this year, the lowest annual average in over 40 years.
If you look at the chart above, you’ll notice that rates aren’t quite as low as they were late in 2012, but they’ve been consistently lower all year. That means more borrowers have been able to take advantage of low rates while refinancing existing mortgages or purchasing new homes.
And it couldn’t have come at a better time – mortgage origination volume is slated to hit $2 trillion this year. Perhaps that’s why it will hit $2 trillion…the last time it did was in 2012 after all so it’s all lining up nicely again.
Next year is shaping up to be pretty solid too, with rates on the 30-year fixed only projected to rise to 3.7%. That’s basically unnoticeable for most borrowers.
Offsetting Rising Home Prices
Freddie says the drop in mortgage rates from around 4% at the end of 2015 to roughly 3.5% during the third quarter of this year has “more than offset the rise” in home prices in the majority of markets nationwide.
They claim this will help “preserve homebuyer affordability,” though there’s still that pesky down payment to contend with.
Fortunately, a slew of lenders have released offerings requiring very little or even nothing down. There’s Quicken’s 1% down mortgage, the same at Guaranteed Rate, and a no down payment option at Fifth Third.
And of course Fannie and Freddie’s 97% LTV offering at banks nationwide. That should keep homeownership in reach for most folks, even if they don’t have a lot set aside.
If it seems too late to get in, don’t fret because there’s apparently more home price appreciation on the horizon.
Freddie is revising up its forecast to 5.6% and 4.7% in 2016 and 2017, respectively, from last month’s forecast of 5.3% and 4%.
So there’s still a lot of home price growth expected despite the massive gains already realized. And if you couple a low fixed rate with still decent growth you can’t complain much.
Might Also Be a Good Time to Cash Out
Seeing that rates are so low and home prices are on the rise, it might be a good time to inquire about that cash out refinance if you want some cheap money.
As noted, you can lock in a low rate and get some of that hard-earned equity out of your home to use for whatever it is you might need.
If and when the Fed does start raising rates and mortgage rates eventually follow, you’ll still have your cheap money locked in at that low price for a long time.
Freddie added that cash-out activity has been on the rise, with an estimated $13.3 billion converted during the second quarter, up from $11.4 billion a quarter earlier.
Still, it pales in comparison to the $84 billion cashed out during the second quarter of 2006…
What happens if your landlord tries to return your $500 security deposit but they don’t have your forwarding address? Or the company whose stock you bought in college is trying to send you dividend checks in the mail, but they never get cashed? In both cases, your money becomes “unclaimed property”.
After claiming your money, bank your funds somewhere you can watch them grow* – Chime® offers 2.00% APY7 with no monthly fees2
In total, Americans have $42 billion in unclaimed property, creating the world’s largest financial lost-and-found. On average, 1 in 10 Americans have unclaimed property in the form of uncashed checks, forgotten deposit boxes, and more just lying around waiting for their owners to come claim them.
Could you have unclaimed cash? How can you check? Let’s investigate.
What’s Ahead:
What is “unclaimed property”?
Unclaimed property is a financial asset that has an owner, but the owner hasn’t come to get it.
The most common examples of unclaimed property are checks that haven’t been cashed. These could be returns of security deposits for rent or utilities, final pay stubs, refunds, class action settlements, stock dividends, royalty payments, and more (all the more reason you should give your direct deposit information whenever possible).
Other examples that probably aren’t as applicable to the under-30 crowd include long-dormant savings and checking accounts, life insurance payouts, and tangibles such as forgotten security deposit boxes.
How and why does property go unclaimed in the United States?
Property goes unclaimed all the time in the United States, mostly because financial entities are unable to contact owners.
Let’s say your old leasing company tries to return your $500 security deposit. However, without your direct deposit information or your forwarding address, they’re kind of stuck. They might try to reach out to you via email or your cell, but most states only require the holder of the property to reach out to the owner via snail mail once.
If you don’t claim your $500 after the, erm, letter, the $500 enters a “dormancy period” of typically one year before the financial institution holding the money must officially declare it as unclaimed property to the state.
So basically, if you don’t cash your $500 check within a year of moving out, your leasing company will turn it over to the “lost and found” aka the state government.
What are the laws surrounding unclaimed funds?
Laws surrounding unclaimed property areextremely strict. Financial institutions are not allowed to keep the unclaimed property under any circumstances; they must report it to the state immediately after the dormancy period.
If they don’t, and try to pocket the goods, they’ll get into immense trouble with the IRS. Furthermore, there’s no statute of limitations on unclaimed property so the feds can come knocking anytime, and audit companies back for decades to make things right.
The lengths our government goes to in order to protect unclaimed property for individual Americans is pretty awesome, if you ask me. Without those property protection laws in place, many companies would probably begin leveraging every manipulation tactic in the book to cheat consumers like us out of our rightful property. For example, a lot of checks from financial institutions to individuals might start mysteriously disappearing from the mail…
After all, how would you feel if your landlord simply waited for you to forget about your deposit and spent your $500 on some tacky lobby statue?
Do unclaimed property laws change based on location?
Yes; each state has their own unclaimed property laws. Variables like dormancy periods, due diligence, and more might vary across borders.
For example, Alabama’s dormancy periods average three years, but for some reason, financial entities don’t have to report traveler’s checks as unclaimed until they’ve gone un-cashed for 15 years.
In New York, holders of the property must perform the following due diligence at least 90 days prior to reporting the property as unclaimed: contact the owners via snail mail at least once, twice if the value of the property exceeds $1,000.
Most states have similar laws calling for such comically little “due diligence.” But in all seriousness, I totally get it; companies don’t hire teams of private investigators to find Steve, who never cashed his $6.47 dividend check back in 2009. Rather, it’s our responsibility as consumers and patrons to keep our contact information up to date and make it easy for these institutions to pay us.
Who’s tracking unclaimed property?
Once the financial entity holding the unclaimed property reports it to the state, the state tracks it on a government-run database, accessible through a web portal.
While each state runs and maintains their own unclaimed property database, you don’t have to search every state you’ve lived in individually. Thankfully, there are trustworthy third-party sites that can show you a bird’s eye view of all the states where you have unclaimed property.
The two most popular unclaimed property sites are missingmoney.com and unclaimed.org. I like them both for different reasons.
Missing Money cuts to the chase, letting you find out if you have unclaimed property, and in which states, in less than a second. All you have to do is plug in your name and voila, a list with links to claim in each state appears (more on that in the next section).
Unclaimed.org, the official site of the National Association of Unclaimed Property Administrators, is a better destination for simply learning more about unclaimed property in general. It features a search function, but it’s less usable and accessible than Missing Money. Still, there’s tons to learn on Unclaimed.org if you’re curious to know more about this strange phenomenon.
How can I find out if I have unclaimed funds?
You can find out if you have unclaimed property in seconds by plugging your full, legal name into Missing Money’s search bar.
To my shock, I was one of the lucky Americans with unclaimed property. Woohoo!
One quick look at the “Reported By” column and I knew exactly what had happened. I own some shares of Disney stock and they’ve apparently been sending my dividend checks to an old address in Wisconsin. It’s been going on for so long that my unclaimed cash has accumulated into a nice pile that will cover my fall latte budget.
How can I claim my unclaimed funds?
If you also have unclaimed funds, all you have to do is click CLAIM next to your name (Missing Money will list everyone else with your name, so be sure to click the one that matches your current/past address to confirm it’s you).
Using the CLAIM button I was redirected to the WI state government website where I followed some pretty logical steps to complete my claim. To nobody’s surprise, the first thing they asked for was my direct deposit information.
Next, Wisconsin (and I assume most other states) requires you to provide three documents to prove your identity: a government-issued ID, proof that you lived at the address associated with the claim, and proof of your social security number.
My ID and work documents covered #1 #3, but #2 was a bit more of a challenge. I dug through my inbox and thankfully found a scan of my old lease for the building, so I submitted that.
Once I’d submitted everything and provided my digital signature confirming I wasn’t a bad guy, I finally reached the confirmation page. I wasn’t too surprised to see that it would take six to eight weeks for an update, and I expect it will take even longer due to COVID-19.
Even still, I’m grateful that I not only had unclaimed property, but that Disney reported it, the state government of Wisconsin tracked it, and the claim submission process was rigorous but user-friendly.
If you haven’t already, I very strongly encourage you to spend a minute on Missing Money, searching for unclaimed property belonging to you or your loved ones.
While technically there’s no big rush to claim your unclaimed property, it’s not doing anyone any good just sitting in a state escrow. You might as well file a claim and grab it now so you can begin multiplying it!
What should I do with my money once I receive it?
If it’s money you don’t need right now, why not toss it into a savings account and let it accumulate a little interest? I’m a fan of both Chime and the CIT Bank Savings Builder as options.
With a Chime Automatic Savings Account, you’ll enjoy an above-average interest rate of 2.00% APY7 right off the bat. Plus, you’ll have the option to round up every purchase to the nearest dollar, depositing the change into savings and filling your monthly statements with clean, whole numbers. ^
Open a CIT Savings Builder Account and you’ll score up to 1.00% APY compounded daily. In order to keep that sweet compounding interest, CIT requires you to maintain a balance of $25,000 or deposit at least $100 monthly, which I see as a perk; it ensures that you don’t neglect your savings account, lest you totally forget about it and find it on Missing Money in 10 years! See details here.
CIT Bank. Member FDIC.
* Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. ^ Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account. 2 There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account. 7 The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of November 17, 2022. No minimum balance required. Must have $0.01 in savings to earn interest.
Summary
I’ll admit that when I was first assigned to investigate “unclaimed money and how to get it”, I thought it sounded super sketchy. But nothing could be further from the truth.
Reclaiming your unclaimed money from the government is a smooth process, and one that you should repeat at least once a year. After all, it only takes a few seconds to check. Plus, searching for any unclaimed property could be a great way to share something new with your folks and even fund Christmas this year.
If customer satisfaction is your thing, and you happen to need a home loan, you might want to check out Royal United Mortgage.
The company recently topped LendingTree’s customer satisfaction rankings for four consecutive quarters, and have consistently ranked in the top-10 for the past six years.
Another thing that makes them unique is the fact that they offer home equity lines of credit (HELOCs), and a lot of them at that, based on their HMDA data. Let’s learn more.
Royal United Mortgage Fast Facts
Privately-held, employee-owned retail mortgage lender licensed in 32 states
Founded in 2008, headquartered in Indianapolis, Indiana
Funded roughly $1 billion in home loans during 2019 via consumer direct channel
Ranked a top-10 mortgage lender by LendingTree since 2014
Began 2020 as LendingTree’s #1 lender in customer satisfaction for 4th quarter in a row
Most of their business comes from the states of Florida, Indiana, and Texas
Royal United Mortgage is a relatively young company, around since 2008, which is right around the time the mortgage crisis and Great Recession took place.
But they’ve made it through some tough times and mustered over a billion in home loan volume last year.
They’re a privately-held, employee-owned direct-to-consumer mortgage lender, meaning they operate remotely without branches.
At the moment, they seem to be licensed to do business in 32 states, including Alabama, Arizona, Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, and Wisconsin.
Royal United Mortgage Loan Process
They offer a digital mortgage application powered by Ellie Mae
You must first get in touch with a loan advisor to get started
Prospective can call them up directly or fill out a short contact form on their website
Claim to have some of the fastest turn times in the industry thanks to in-house processing and underwriting
To get started, they ask that you either call them up or fill out a short contact form on their website.
Once you connect with a so-called trusted loan advisor, they’ll go over your goals and guide you through the loan process, including an overview of available loan options.
They appear to offer a digital mortgage application powered by Ellie Mae that should allow you to link financial accounts and/or upload key documents.
Additionally, once conditionally approved for a loan, you can check loan status at any time or opt-in to real-time notifications regarding loan progress.
Because they use in-house loan underwriters and processors, they say they’re able to offer some of the fastest turn times in the industry, typically only 2 to 3 weeks (how long does it take to get a mortgage).
All in all, pretty straightforward, though it would be nice if you could apply without having to take the extra step of speaking to a human.
Loan Types Offered by Royal United Mortgage
Home purchase loans and refinance loans
Rate and term and cash out refis (debt consolidation)
Home improvement loans
Conforming loans backed by Fannie/Freddie
FHA loans and VA loans
Home equity lines of credit (HELOCs)
One drawback to Royal United Mortgage is their somewhat limited menu of loan programs.
While they appear to have most of the basics, they’re missing a few major loan types, including jumbo loans and USDA home loans.
That leaves us with conforming loans backed by Fannie Mae and Freddie Mac, along with FHA loans and VA loans.
The good news is that should cover most of the homeowner population.
They seem to focus on mortgage refinances, including rate and term refis and cash out refis for debt consolidation.
They also say they’ve got home renovation loans, though it’s unclear if they’re talking about the FHA 203k and/or the Fannie Mae HomeStyle.
One silver lining is they offer home equity lines of credit (HELOCs), which not all lenders offer these days. So you can tap into your equity without touching your first mortgage.
While they do offer home purchase financing, it seems to make up a small portion of their overall loan volume, maybe just north of 10%.
Interestingly, it is HELOCs that tend to make up the most of their business.
They lend on primary residences, second homes, and investment properties.
Royal United Mortgage Rates
For one reason or another, Royal United Mortgage does not publicize its mortgage rates.
This isn’t uncommon, as many banks and lenders tend to keep their interest rates to themselves.
However, since they don’t advertise their rates, we have no way of knowing how competitive they are in the pricing department relative to other mortgage lenders.
The same goes for their lender fees, which don’t seem to be listed on their website anywhere. This means we don’t know if they charge points or a loan origination fee.
So be sure to get all that information early on before you spend too much time with them in case their rates/fees aren’t to your liking.
Royal United Mortgage Reviews
As noted, they were ranked 1st by LendingTree for customer satisfaction from the second quarter of 2019 through the first quarter of 2020.
That’s four consecutive first place rankings, which seems like a pretty big feat. Additionally, they have roughly 9,000 customer reviews on LendingTree with a 4.9 out of 5-star rating.
Some 98% of former customers recommend using Royal United Mortgage, per the LendingTree website.
They have been Better Business Bureau accredited since 2008 and currently hold an A+ rating with the company.
At the time of this writing, Royal United Mortgage has nearly 400 customer reviews on the BBB website with a 4.5/5 rating.
Like all other mortgage lenders, they have complaints too, which are inevitable when you’re dealing with a large number of customers in the mortgage industry.
But all in all, they appear to be well received by their customers, which is a good sign.
Royal United Mortgage Pros and Cons
The Good
Offer a digital mortgage application powered by Ellie Mae
Ranked #1 by comparison service LendingTree
Excellent customer reviews across multiple review sites
A+ BBB rating and an accredited business
Offer home equity lines of credit (HELOCs)
Free mortgage calculators and mortgage glossary on site
The Maybe Not as Great
Not licensed to lend in all states
You have to contact them before applying for a home loan
So you want to build a new home — but you’ve got sticker shock. In researching cost-effective options, you may have discovered modular and manufactured homes.
These home types are typically more affordable than traditional new construction, known as “site-built” homes. The Manufactured Housing Institute reports that a manufactured home costs half as much per square foot as a site-built home. For modular builds, a 2017 study by the Terner Center for Housing Innovation at the University of California, Berkeley estimates construction savings of at least 20%.
Depending on land costs and the model you choose, a new manufactured or modular build might even cost less than the average existing home.
Modular and manufactured homes are both types of prefabricated, or “prefab,” homes. That means they’re built indoors at a factory, then transported to the building site. But just because they both start out in a factory doesn’t mean they’re the same thing.
Let’s explore the differences between these two home types.
Definitions: Modular vs. manufactured homes
What is a modular home?
A modular home is factory-built in large, three-dimensional pieces known as modules. When the modules leave the factory, they are up to 90% complete. The finishing touches happen at the building site, where the modules are attached to a permanent foundation and each other. Then, the finished home is inspected to ensure it meets local building codes.
What is a manufactured home?
A manufactured home is what you might think of when you hear the term “mobile home” or “trailer.” However, that terminology is considered outdated. Today’s manufactured homes come in a wide range of designs and styles.
Like modular homes, manufactured homes are built in factories. Depending on their size, they are transported to the building site in one piece, known as a single-wide, or several pieces, known as a double- or triple-wide.
Unlike modular homes, manufactured homes are attached to a permanent chassis. This is a metal frame that can be attached to wheels; that’s where the term “mobile home” comes from. The chassis cannot be removed, but you can remove or cover up the wheels.
Manufactured homes are built to national building standards set by the U.S. Department of Housing and Urban Development (HUD), called the HUD Code.
Did you know…
Technically, the term “mobile home” only applies to factory-constructed homes built prior to June 15, 1976. That’s when the HUD Code went into effect. The HUD Code set federal standards for safety and durability of manufactured homes.
Pros, cons and differences
Compared to new site-built construction, modular and manufactured homes are a more affordable path to homeownership. Here are some things to consider when deciding between the two:
Cost and resale value: A manufactured home typically costs less than a modular home. While manufactured homes have come a long way in terms of quality, they still can depreciate in value over time, similar to an automobile. Modular homes generally change in value with the market similar to site-built homes.
Building codes: Manufactured homes are built to the HUD Code. Modular homes follow the same state and local building codes as site-built houses.
Size and durability: Available sizes vary, although modular homes offer more ability to customize layouts. Manufactured homes don’t hold up as well in high winds or hurricanes compared to modular homes.
Portability: Manufactured homes must be affixed to a steel chassis. Depending on their size, they can be built and transported in full from the factory. Modular homes do not have a chassis. They are built in pieces, transported and assembled on-site.
Construction efficiency: Modular and manufactured homes share some advantages over site-built homes. Indoor construction pretty much eliminates weather delays. Assembly-line construction is also faster and cheaper. Less construction waste saves home buyers money, and with efficiency gains, you’ll likely move in sooner.
Loans and financing
Modular homes
While a modular home is being built, you might have to make up-front or installment payments to the builder. These can be paid in cash or through a construction loan. Once construction is complete on a modular home, it can be financed with a traditional mortgage — just like a site-built home.
Manufactured homes
Manufactured homes are not always eligible for traditional mortgages. Here are some options:
Traditional mortgages: To qualify for a mortgage, you must own the underlying land and have the manufactured home titled as real property.
FHA Title 1 loans: If your home doesn’t qualify for a mortgage, the Federal Housing Administration (FHA) offers Title 1 loans to finance manufactured homes. With an FHA Title 1 loan, the buyer is permitted to lease the land where the home resides, such as in a manufactured home community — sometimes called a mobile home park.
Chattel loans: Often, buyers finance manufactured homes using chattel loans. A chattel loan is a direct form of financing for personal property, similar to an auto loan. However, these loans typically have higher interest rates than traditional mortgages. The Consumer Financial Protection Bureau reports that around 42% of manufactured home owners use a chattel loan to finance their purchase.
Summary: Key differences
Manufactured home
Modular home
Site-built home
Cost to build
Type of foundation
Semipermanent (e.g. pier and ground anchors) or permanent.
Permanent.
Permanent.
Portability
Yes. (Has a chassis that can be attached to wheels to move the home.)
No. (Once modules are delivered, they are permanently attached to each other and the foundation.)
No. (Built entirely on-site.)
Building code
International Residential Code (local building codes).
International Residential Code (local building codes).
Options to customize
Durability
Financing (after construction)
Chattel loan, FHA Title 1 loan or traditional mortgage.
Traditional mortgage.
Traditional mortgage.
Value over time
Typically decreases.
Typically increases.
Typically increases.
Modular vs. manufactured: Which is right for me?
A manufactured home is less expensive and can get you to your goal of homeownership sooner, especially if you live in a rural area where affordable housing is scarce. Citing January 2023 data, the U.S. Census Bureau reports that the average cost of a new manufactured home is $126,100. However, future home equity is less predictable for manufactured homes. Typically, their value depreciates over time. But it also could hold steady, depending on your local real estate market. Other factors, such as if you own the land underneath — and how you landscape it — affect long-term value, too.
A modular home is a larger up-front investment, but the home value typically grows over time, like that of a site-built home. Modular construction is sturdier than that of manufactured homes, too. If you finance a modular home using a construction loan, you might need a higher credit score and lower debt-to-income ratio to qualify, compared to credit score requirements to buy an existing home. That’s because you don’t have a finished home to use as collateral, like you can in a traditional mortgage.
Alternatives to modular and manufactured homes
If you’re looking for an affordable path to homeownership, here are other options to consider:
Townhouses or condominiums: If you don’t mind sharing walls with your neighbors, buying a townhouse or condo can help you build equity at an affordable price point. You might have to pay homeowners association fees, though, so account for that when budgeting.
Site-built homes: If you’re committed to a new build, you’ll pay more per square foot for traditional construction compared to a modular or manufactured home. However, you can cut costs by building a smaller home and opting for modest finishes.
Tiny houses: Sized around 400 square feet or less, tiny houses can be set on wheels or a permanent foundation. Minimalist living is a lifestyle shift, so consider the pros and cons before you downsize.
Doors can be a portal to another world, or maybe just a great first impression when you walk through a home. But when they don’t look their best, a dated or damaged door can make an entire space feel off.
The doors inside your home come in a wide variety of styles, and can be updated in just as many ways. Some updates can be done on the cheap, while replacing doors entirely will likely come at a higher cost. What follows are key things to know about updating your interior doors, including options and costs.
What Are the Different Types of Interior Doors?
Interior doors come in many styles and price points. Here’s a look at some of the most popular options, plus estimated costs (including materials, labor, and equipment).
• Traditional Standard doors, such as a bedroom door, swing in or out to open and close. This type of door can be either hollow core, solid composite, or solid wood. Cost to replace: $50 to $600.
• Pocket These space-saving doors slide “into” the wall when they’re open. Pocket doors hang from the top and slide along a track mounted in a space inside the wall and across the top of the door opening. Cost to replace: $140 to $1,000
• French The door with a certain je ne sais quoi, French doors can be either single or paired, and can have either a full (single) glass pane or a number of divided panes. French doors are often used as exterior doors to porches or patios, but they can also be a great way to let light diffuse inside a home. Cost to replace: $200 to $4,000
• Sliding A cousin to the pocket door, sliding doors save space by sliding in tracks at the top and bottom of the door frame. Unlike a pocket door, however, they don’t disappear into the wall. Glass sliding doors are typically used as exterior doors to a patio or deck, but can be used indoors to separate rooms while maintaining visibility between them. Cost to replace: $400 to $4,500
• Bifold Also called folding doors or concertina doors, bifolds are made of panels that fold next to each other when opened, sliding on tracks both on top of and below the door. Single bifold doors are sometimes used as doors to smaller closets, and a pair of bifold doors might divide a large room. Cost to replace: $35 to $70
• Barn A sliding barn door in the home takes rustic farmhouse trends to the next level. These doors slide on a track mounted on the wall above the door. Barn doors have a low profile, as they do not swing out. Cost to replace: $150 to $4,000
• Saloon Head straight to the wild west with these doors. Sometimes called cafe doors, saloon doors hang on a pivot hinge, meaning they can easily swing in and out with a nudge. Because they swing in both directions, they’re commonly used as kitchen doors or in cafes where traffic goes both in and out. Cost to replace: $100 to $500
• Murphy You may have encountered a murphy door before without even knowing it. Often custom made, murphy doors are typically bookcases that swing out, turning a door into storage space. Cost to replace: $700 to $2,500
Recommended: How Do Home Improvement Loans Work?
Signs You May Need New Interior Doors
Interior doors in a home can take quite a beating. They’re slammed, kicked, scuffed, and may have been pounded on a few times. Depending on their quality and age, there’s a chance your doors may simply have seen better days.
If these signs sound familiar, it may be time to buy some new doors for your home:
1. The door is stuck and has trouble staying open or closed. The more someone struggles to open and close a door that doesn’t budge, the more damage they’ll do. If a door’s always sticking or never manages to stay closed, it may be time to replace it.
2. The door is warped or cracked. Age will affect the quality of any door, and if the frame or hinges are visibly cracked or peeling, it’s time to think about replacing them.
3. The door’s style is dated. If your kitchen’s classic saloon-style doors feel decidedly old school — not in a good way — it might be time to consider replacing them. Even if they still work, dated styles can negatively impact a home’s value at the time of sale.
Depending on the style of door and the complexity of the installation, swapping out an interior door can cost anywhere between $150 to $2,000, with an average of $750. A good portion of the cost is professional labor.
While hanging a door might sound simple, doing it wrong can lead to improper closure or a door that just won’t close at all, which leaves you back at the drawing board. It could be worth asking for estimates from a few professional contractors if you decide to replace several interior doors at once.
A door can make an impression — good or bad — when someone enters a room. That first impression might become very important when considering home value. This kind of home improvement project could pay off when you eventually sell your home.
Recommended: Tips for Maintaining the Value of Your Home
DIY Ways to Update Your Interior Doors
Replacing interior doors altogether can be expensive, and is not always necessary. If your door is in good shape, an inexpensive DIY can update your interior doors to look more modern or trendy.
Here are some interior door upgrades you might consider before ditching a door altogether.
• Swapping out door knobs and hardware Sometimes dated brass or an ornate finish might make a standard swing door feel out of place. For between $75 and $150, you can update a door’s knobs and hinges.
• Trying a new hue A fresh coat of paint might transform a door’s entire vibe. Instead of a standard white, you might opt for a neutral shade, make a statement with a black door, or choose a rich, deep tone that complements other colors in your home. You can even switch things up by painting the frame and the door different colors. Although you have to remove the door from its frame, this project is DIYable, and can typically be done within a day or two.
• Updating hollow core doors Hollow core doors are the standard type of door installed in many homes when they’re built. It’s a swing door with a flat surface. These are basic doors that can be a blank slate for your personal taste. For example, you might use molding and beadboard panels to create a paneled look on standard doors. This can make a builder-grade, hollow-core door look custom-made. This DIY project is a small investment for a big payoff.
Recommended: What Are the Most Common Home Repair Costs?
The Takeaway
Doors inside your home don’t just provide privacy, they’re a feature of the property. If your interior doors are in poor shape, replacing and updating them could help increase the value of your home, making the upgrade well worth the upfront outlay of money.
If you don’t have enough cash on hand to cover the cost of upgrading your doors (or any other part of your home), you might consider using a personal loan for financing. This is an unsecured loan that can be used for virtually any purpose, including a home renovation or upgrade. Once approved, you get a lump sum of cash up front you then pay back (plus interest) in monthly installments over time. Rates are typically fixed and lower than credit cards.
Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.
SoFi’s Personal Loan was named NerdWallet’s 2023 winner for Best Online Personal Loan overall.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
If you live in California, you may have seen or heard commercials for Intelliloan, a mortgage company that boldly advertises its mortgage rates every chance they get.
Unlike many other mortgage lenders out there, who don’t even mention their interest rates or lender fees, Intelliloan puts it out there for everyone to see.
Of course, leading with your mortgage rates isn’t so easy, since they can change daily and quite significantly from month-to-month.
This might explain why Intelliloan is constantly updating the mortgage rates in its commercials – fortunately, they’ve been moving in the right direction lately, lower.
Intelliloan Fast Facts
Direct-to-consumer mortgage lender located in Costa Mesa, CA
Founded in 1993 by Darryl Preedge
Licensed to do business in 33 states nationwide
Specialize in low mortgage rates with no lender fees
Seem to do much of their business in their home state of California
First a little brief history on Intelliloan, which opened its doors back in 1993 in Downey, California.
It was founded by Darryl Preedge, who had worked for a lender for three years before venturing out to open his own mortgage shop.
The company started with just three employees, but has since grown into a national mortgage lender licensed to do business in 33 states.
At the moment, they don’t appear to lend in Alabama, Alaska, Hawaii, Indiana, Kansas, Kentucky, Missouri, Montana, Nebraska, New York, North Carolina, Ohio, West Virginia, or Wyoming.
They seem to do most of their home loan lending on the West Coast, particularly in California.
Applying for a Mortgage with Intelliloan
Intelliloan is a direct-to-consumer mortgage lender, meaning you work with them online or by phone remotely.
They say it takes about 15 minutes to get your mortgage approval started. And that process begins by filling out a short lead form on their website.
From there, they’ll ask you to create an Intelliloan account and you’ll need to provide some basic contact information.
Then you’ll proceed to fill out a loan application with the help of a loan specialist.
Alternatively, you can use the chat/text feature on their website to begin, which allows you to speak to a specialist right away if you have questions.
Or you can simply call them up on the phone to get started.
It’s unclear if they offer a digital loan application after that point, but it appears to be pretty no-frills and direct.
They say they’re big on customer service and satisfaction, so hopefully that’s demonstrated in the loan process from start to finish.
Loan Types Offered by Intelliloan
Home purchase and mortgage refinance loans
Conforming loans backed by Fannie/Freddie
Government home loans including FHA loans and VA loans
Jumbo home loans up to $3 million loan amounts
Reverse mortgages for those 62 and older
Fixed-rate options: 30-year fixed and 15-year fixed
ARM options: 5/1, 7/1, and 10/1 ARMs
Intelliloan offers all the typical stuff you’d expect from a mortgage lender, including home purchase financing and mortgage refinancing.
Their bread and butter is probably refinance loans since they offer super low mortgage rates, a key decider for those looking to refinance an existing home loan.
But they also offer home purchase financing on primary residences, second homes, and investment properties. And they’ll get you pre-approved so you can shop with confidence.
In terms of loan type, they offer conventional conforming loans backed by Fannie Mae and Freddie Mac, along with government home loans including FHA loans and VA loans.
They don’t appear to offer USDA loans, and it’s unclear if they offer construction or renovation loans.
It seems they are focused on straightforward vanilla stuff that isn’t too complicated, which allows them to close loans fast and offer low rates.
In fact, they mention in their fine print that they’re not currently accepting applications from self-employed borrowers, nor will they accept conforming loan amounts below $200,000.
However, they do offer jumbo loan financing with loan amounts as high as $3 million, and cash out as high as $500,000.
Additionally, aside from fixed-rate options, they offer adjustable-rate mortgages that are fixed for the first 5, 7, or 10 years.
And they’ve got ARM options for both FHA loans and VA loans.
Homeowners aged 62 and older can take advantage of their reverse mortgage offering as well.
Intelliloan Mortgage Rates
As noted, Intelliloan isn’t shy about advertising its mortgage rates. In fact, just about every advertisement I’ve seen from them features a mortgage rate and/or mortgage APR.
So they lead with their pricing, which is a good sign if the lowest price/rate is what you’re after when purchasing a home or refinancing an existing mortgage.
Right on their homepage you’ll see “today’s rates,” which at last glance looked pretty darn good.
For example, on the day of this post they were offering a 30-year fixed at 2.325% (2.49% APR) and 15-year fixed at 1.75% (1.99% APR). Yes, that low.
The assumptions were a $300,000 loan amount a single family, owner-occupied property in the state of California. Minimum 740 FICO and 60% loan to value (LTV).
If you don’t fit all those criteria, expect a higher mortgage rate. But still, those advertised rates look pretty enticing.
They advertised similarly low rates for high-cost conforming loans and FHA/VA loans.
Intelliloan Rate Protection Promise
Intelliloan also offers a Rate Protection Promise that provides up to three years of so-called mortgage rate protection.
Simply put, if fixed interest rates fall below your current fixed rate on a previously closed Intelliloan mortgage, you can refinance to that lower fixed rate on a 15- or 30-year mortgage.
This can be exercised at any time after the first 100 days from loan closing up until the third anniversary of the loan closing.
You won’t have to pay any non-recurring closing costs (e.g. lender fees, appraisal fee, credit report fee, escrow, title, recording, notary, courier, etc.), but you will be responsible for any recurring closing costs such as prepaid interest, property taxes, insurance premiums, HOA dues, and so on.
Basically, it’s a no cost refinance if fixed mortgage rates happen to fall significantly in the three years that follow your original transaction with Intelliloan.
Of course, you can always shop around with other lenders, and may find that another can beat them on rate and offer it without closing costs.
Either way, you need to re-qualify for the loan, so it’s not totally automatic, it’s just a discounted refinance.
Intelliloan Reviews
On LendingTree, they have a 4.9-star rating out of 5 based on more than 500 reviews, with a 98% recommendation rating.
On Google, they’ve got nearly 200 reviews and a 4.5-star rating out of 5, which is obviously very good. Most former customers seem to be very happy with their service and rates.
On Yelp, they’ve got a 4.5-star rating based on about 200 reviews as well. It appears most of their customers refinanced an existing mortgage, which seems to be their top offering.
Similarly, they have an excellent 4.93-star rating out of 5 on the Better Business Bureau website based on over 200 reviews, which is pretty unheard of.
Usually, customers head over to the BBB to complain about a company, but that doesn’t appear to be the case here.
They are an accredited business with the BBB since 1999, but only have a B+ rating at the moment thanks to 13 complaints filed against the business.
All in all, they appear to be a mortgage lender focused on offering the lowest rates possible to borrowers who have fairly straightforward loan scenarios. If that’s you, they might be able to offer you an excellent rate.
But if you’re self-employed or have a complicated loan scenario, they may not be the best fit.
Intelliloan Pros and Cons
The Good
Appear to offer very low mortgage rates with limited or no lender fees
Excellent reviews on several ratings sites
BBB accredited company since 1999
Offer most major home loan types
Can apply for a mortgage directly from their website
Intelliloan Rate Protection Promise allows you to refinance without lender fees
The Maybe Not Good
Not licensed in all 50 states
Do not offer USDA loans
May not offer construction/renovation financing or home equity loans/lines
May not be a good fit for those with complex loan scenarios
Inside: Working mothers face many challenges when balancing work and family life. This guide offers the best jobs for moms. Find out how to maximize your career opportunities while raising children.
Moms often feel like they can’t have a successful career and be a good moms at the same time.
I completely feel that way too. I struggled to be a stay-at-home mom when my kids were little because I wanted to help out financially to help pay down debt. It took me a few years, but I soon realized there are great ways to make a mom and be a great mom!
I have uncovered plenty of jobs for moms with no degree that offers flexible hours, good pay, and satisfying work.
The best jobs for moms with no degree are ones that offer flexibility, good pay, and room for growth.
It can be tough to balance family and career, but it is possible to find a job that fits your lifestyle.
Here are the best jobs for moms with no degree or with a degree.
What jobs are good as a mom?
As a mom, finding a job that allows for flexibility and growth can be challenging, especially if you don’t have a college degree.
However, there are still plenty of opportunities out there that can help you balance your family and career.
Most importantly, you need to find a job that you LOVE! An environment that you thrive in!
With flexible schedules, remote work options, and potential for growth, these jobs can provide the stability and income moms need while still being able to prioritize their families.
Whether you’re looking for a part-time job or a full-time career, there are plenty of opportunities out there for moms.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
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What are the best careers for current stay-at-home moms?
Stay-at-home moms face the challenge of balancing their family responsibilities with the desire to pursue a career.
With the high cost of child care, you need to find a job that allows you to take your kids or one that offers flexibility to work around your kid’s schedules.
Hello- that is me! I am a blogger and day trader when I’m not taxing my kids around.
Your best bet is to check out how to make money online for beginners. That is where you will find the most job options that can be done from home or offer flexible schedules, making it possible to have the best of both worlds.
What are the best careers for former stay-at-home moms?
Returning to the workforce after being a stay-at-home mom can be a daunting task, but there are many careers that are best suited for moms.
You still want careers that offer flexibility, high earning potential, and a good work-life balance.
You need to consider your previous employment, any education or certificates you hold, or skills and/or interests.
As such, the answer will vary for each person reading this post. So, consider any one of these past ideas.
Best Jobs for Moms
There are plenty of great jobs for working moms.
The key is to find a position that offers the right mix of income, hours, and flexibility.
Preferably, you want a low-stress job that pays well without a degree.
Here are jobs to consider if you’re a working mom with no degree.
1. Web developer
Web development is a highly flexible and lucrative career option that is ideal for working moms who may not have a college degree. With the ability to work remotely or part-time, web development is a perfect fit for moms who need a flexible schedule.
This field is rapidly growing and in high demand, making it an excellent choice for those looking for a career change.
To become a successful web developer, proficiency in programming languages like HTML, CSS, and JavaScript is essential. Additionally, knowledge of website design and development tools is crucial to create visually appealing and functional websites.
The skills required for web development can be learned through online courses or boot camps, making it accessible to anyone with an interest in technology and design.
Benefits:
Many web developers work from home or have flexible schedules, making it easier for moms to balance work and family life.
The demand for web developers is expected to grow, making it a stable and secure career option.
Web development is a field that allows for creativity and self-expression.
Pay: The salary for a web developer varies greatly on experience, but it is possible to make six figures.
2. Customer Service Representative
Customer service representative is an excellent career option for working moms who do not hold a college degree.
As a customer service representative, you will be the primary point of contact between customers and the organization, providing information about products and services, taking orders, responding to customer complaints, and processing returns.
You can work from home part-time or full-time, and many times the work takes place remotely. To succeed in this role, you will need to have strong communication and negotiation skills, patience, and the ability to multitask.
Benefits:
The work environment is flexible, and you can work from the comfort of your home.
Job offers great work-life balance and schedule options, making it an ideal choice for working moms.
Pay: As a customer service representative, you can expect to make from minimum wage to $20 an hour.
3. Proofreader
Being a proofreader can be a rewarding and fulfilling career for individuals who have a way with words and a keen eye for grammar. As a proofreader, your primary responsibility would be to review and correct spelling, grammar, and punctuation errors in various types of written content, such as books, websites, and social media posts.
Moreover, the earning potential as a proofreader can be quite lucrative. For instance, Caitlin Pyle, a successful proofreader, made $43,000 in one year working part-time.
To get started as a proofreader, it is important to develop the necessary skills. You can start by attending a free introductory workshop or enrolling in a course that teaches the skills needed to become a freelance proofreader.
Benefits:
Great flexibility as you work on a project basis.
The significant earning potential in the field of proofreading, especially for those who are dedicated and skilled in their craft.
Rewarding career path for individuals with a passion for language and a meticulous eye for detail.
Pay: In terms of salary, the median pay for a proofreader ranges from $15.22 to $26 an hour, depending on experience and the project you are working on. Many other proofreaders earn between $1,000 to $4,000 per month.
4. Flight Attendant
A flight attendant is a career that does not require a college degree but extensive training and certification. It is an ideal job for working moms due to its non-traditional scheduling that allows them to work part-time, take extended periods off, and get out of the house.
Flight attendants can take on trips when they know they have child care covered, and stay at home for days at a time.
Benefits:
Enjoy the perks of travel.
Flexible schedules.
Great health benefits.
Pay: The pay ranges by airline, but the median salary is $65000 per year.
5. Blogger
For moms who are looking for a flexible work-from-home job that doesn’t require a degree, becoming a blogger could be the perfect fit.
With the rise of the internet, there is an increasing demand for content writers and bloggers. These jobs allow you to work from home, set your own schedule, and choose the topics you want to write about. Additionally, these jobs don’t require a degree, making them accessible to anyone who has a passion for writing and a way with words.
Blogging is another option for those who want to write about specific topics they are passionate about and share their insights with others.
Benefits:
Be your own boss.
Flexibility blogging offers – work as much or as little as you want.
Work from home.
Choose the topics you want to write about.
Pay: As a blogger, you are creating passive income through ads, affiliating marketing, and paid sponsorships.
6. Engineer
Returning to work as a mom can be a challenging transition, but leveraging your engineering degree can open up a range of opportunities for you. With your technical skills and problem-solving abilities, there are several career paths that can offer a healthy work-life balance and flexibility to accommodate your family responsibilities.
Here are ways to utilize your degree and still have the flexibility you crave:
Pursue freelance work in your field. As a freelance engineer, you have the freedom to determine your own schedule and take on projects that align with your interests and availability. Platforms like Upwork provide a space for engineers to connect with clients and offer their services on a project basis. This allows you to work on engineering projects from the comfort of your own home, giving you the flexibility to balance work and family life.
Explore part-time or remote positions with engineering firms or companies that value work-life balance. Many engineering firms recognize the importance of accommodating working parents and offer flexible work arrangements. With your engineering background, you can contribute to projects and collaborate with teams remotely, allowing you to work from home and adjust your schedule to meet the needs of your family.
Pursue a career in technical writing or content creation. Many companies and organizations require technical documentation, manuals, and instructional materials to accompany their products or services. With your engineering background, you can leverage your expertise to create clear and concise technical content.
Work as an engineering consultant. As a consultant, you can offer your specialized knowledge and expertise to clients on a project basis. Consulting also provides the opportunity to work remotely or have a flexible work arrangement, making it an ideal option for moms returning to work.
By expanding your knowledge and skill set, you can position yourself for more opportunities and increase your marketability in the engineering field.
Benefits:
This can be done on a freelance basis or as a remote employee, allowing you to work from home and have more control over your schedule.
Take on projects that align with your skills and interests.
Have a fulfilling career that allows you to balance work and motherhood successfully.
Pay: Additionally, engineering offers high earning potential, which can help support a family and provide financial stability. Most engineers earn over $100000 a year.
7. Virtual Assistant
For working moms with no degree, finding a job that balances well with their family life can be a challenge. However, virtual assistant jobs can be the perfect solution.
As a virtual assistant with no experience, you can work from home, set your own schedule, and earn a good income.
A virtual assistant provides administrative support remotely, handling tasks such as email and social media management, scheduling appointments, data collection, customer service, and event planning. The skills required for this job include strong multi-tasking, organizational, and time-management skills, as well as basic computer skills.
Here is a virtual assistant checklist to see if you would enjoy this job possibility.
Benefits:
Be the boss of your own schedule.
Build your own small business if you desire.
Earn significant income
Pay: Most virtual assistants can earn $21 an hour or more pending experience.
8. Teacher
Teaching can be an excellent option for moms who want to work in a field that values education and have the same schedule as their kids.
Plus you can take on one of these summer jobs for teachers to extra cash.
Another option is to become a teacher’s aide that assists teachers in the classroom, helping with tasks such as grading papers, supervising students, and preparing materials. To become a teacher’s aide, you need to have a high school diploma or GED.
Benefits:
Same work hours as your children.
Work in a field that values empathy and care for children, while also providing financial stability and work-life balance.
Most teacher retirement plans are well worth working your full 30 years for that ongoing income post-retirement.
Pay: Unfortunately, teachers are one of the lowest paid salaries for the fantastic work they do. Find out if teachers get paid in the summer.
9. Substitute teacher
Substitute teaching can be an excellent job option for working moms who don’t have a degree. It offers flexibility, a chance to get teaching experience, and a decent daily rate of pay.
A substitute teacher fills in for full-time teachers when they are absent.
This experience can be helpful if you decide to pursue a permanent teaching position in the future.
Benefits:
Allows you to work when your schedule permits. You can note your availability and work as much or as little as you like.
Gain teaching experience without committing to a full school year.
Rewarding job option for some.
Pay: As of right now, there is a shortage of teachers, so the pay for substitute teachers has increased immensely. Substitute teachers can earn a daily rate ranging from $60 to $200, depending on the school district and the region with most substitutes making $22 an hour or more.
10. Consultant
As a consultant, you can use your prior work or life experience to offer solutions and advice to clients in a wide range of areas, including sales, marketing, operations, and management.
Furthermore, consulting can be an ideal way to transition your prior work or life experience into a new career and shorten the time spent in school, making it a great option.
To become a successful consultant, you need to have strong communication skills, the ability to work independently, and experience in your field to run a successful business.
Benefits:
As a consultant, you can enjoy flexible work hours.
The potential to work from home.
Ability to control your schedule.
Pay: The hourly rate for consultants varies depending on the type of consultant and the industry, with some earning high salaries.
11. Day Trader
Swing or day trading is a popular option for individuals who want to work from home and make a living from the stock market. Day traders buy and sell securities within the same day, aiming to make a profit from small price movements.
This job requires a certain set of skills and investing knowledge, as well as specific equipment and software.
It is possible to make money with stocks fast.
Day trading can be a good option for working moms with no degree because it offers flexibility and the potential for high earnings. Personally, I love trading stocks and options. I learned from Teri Ijeoma.
Benefits:
Unlike traditional jobs, day trading allows individuals to work from home and set their own schedules.
Successful traders can make a significant amount of money, with some earning six-figure or seven-figure incomes.
While a degree is not required for day trading, I highly recommend taking this investing course to jumpstart your learning.
Pay: Widely variable as it depends on your risk. You can lose money or make $1000 a day.
12. Claims adjuster
As a claims adjuster, you will be responsible for investigating insurance claims, negotiating settlements, and collaborating with other professionals such as lawyers and medical experts. To become a claims adjuster, you will need to possess relevant experience, strong communication abilities, and proficiency in data analysis.
The work environment can be fast-paced and stressful, but the potential for career growth and the flexibility to work remotely make this an attractive option for many working moms.
Claims adjusters must also maintain accurate records and documentation of all claims activities.
Benefits:
While the work environment can be fast-paced and stressful, the potential for career growth is likely.
Flexibility to work remotely make this an attractive option for many working moms.
Pay: Claims adjusters can advance to higher positions within the insurance industry, such as senior claims adjuster or claims manager. Additionally, many claims adjusters work as independent contractors or consultants, providing even more flexibility and potential for career growth.
13. Bookkeeper
As a bookkeeper, one is responsible for monitoring a company’s cash flow by keeping track of transactions and preserving copies of receipts. The job requires great attention to detail, excellent organizational skills, and an ability to analyze and interpret financial data.
This job can be done virtually, making it an excellent position for moms who want to improve their work-life balance.
Bookkeeping does not require a degree and one can earn a decent hourly pay or salary. To become a bookkeeper, one must have bookkeeping skills, which can be learned from online courses.
Benefits:
Flexible working hours, allowing them to work whenever suits them.
Great for someone who loves analytics.
Pay: Most bookkeepers enjoy relatively high hourly salaries. They can work as independent contractors or be paid as a salaried employee.
14. Nanny
Being a nanny is an excellent option for moms who want to balance work and family life.
As a nanny, you would be responsible for taking care of children, cooking, cleaning, and running errands. The best part about being a nanny is the flexible hours, which allow you to work part-time or full-time while still being present for your family.
Finding a job that allows moms to work while still being present for their families is crucial, and being a nanny provides the perfect solution.
Benefits:
Be able to care for your own children at the same time.
Find a nanny job that works for your circumstances.
Stay young and playful while working with kids!
Pay: The pay varies widely for a nanny, but once you have experience and great references, you can earn good money.
15. Marketing Specialist
Marketing can be an excellent job choice for moms looking for flexibility, potential job growth, and the opportunity to work remotely. With the advancement of digital marketing, moms can now pursue a career in marketing without having to leave their homes or work in a traditional office setting.
As a digital marketer, there are various specializations and skills that can be honed to advance in the field. These include SEO (search engine optimization), web development, content creation, and marketing strategies.
By continuously learning and improving these skills, moms can enhance their professional reputation and open doors to new opportunities within the marketing industry.
Benefits:
Ability to work from home.
Work flexible work hours that can be adjusted to fit their family’s needs.
Digital marketing also offers potential job growth and career development.
Pay: As a marketing specialist, the pay can vary greatly if you work as a freelancer or a bigger corporation.
16. Financial Advisor
Financial advising can be an excellent career path for working moms without a degree, offering flexibility and opportunities for growth.
Honestly, I know many people who have successfully entered the workforce as financial advisors.
The first step towards becoming a financial advisor is to obtain relevant certifications and licenses, such as the Certified Financial Planner (CFP) designation. Once certified, financial advisors can work for a firm or start their own business, providing financial advice to clients.
Pursuing a career as a financial advisor can offer a good salary and work-life balance, making it a great option for working moms.
Benefits:
Help others pursue a life of financial independence.
Perfect for someone who loves numbers!
Pay: The pay for a financial advisor varies greatly, but the median salary is $75000 a year.
17. Writer
Becoming a writer can be a great career choice for moms who want to work from home and have a passion for writing. With flexibility, the potential for a decent income, and no degree required, it’s an accessible and rewarding career path.
Highly recommended to take this writing course to jumpstart your networking opportunities.
As a writer, you can work as a content writer, staff writer, or freelance writer.
Content writers produce content for websites, such as blogs, news aggregators, and e-commerce sites.
Staff writers write articles for publications, such as magazines or newspapers.
Freelance writers write for clients without being permanent employees.
What’s more important is having a way with words, strong research skills, and a passion for writing.
Benefits:
Flexibility to work on a story when you are able to.
For those with a love of English, this is a great way to express yourself.
Pay: While the average hourly rate for writers and bloggers varies, it’s possible to earn a decent income in these fields.
17. Social Media Specialist
As a social media specialist, you will manage social media accounts, create and post content, increase engagement, analyze data, and monitor social media. This role requires skills such as graphic design, writing appealing content, an eye for design, and flexibility.
Moms possess many of these skills naturally, such as multitasking, creativity, and communication. These skills can be applied to social media management, including content creation, scheduling, and community management.
Social media management is also a growing field. As a result, this job can provide moms with a stable income and career growth opportunities while allowing them to prioritize their family life.
Benefits:
Great for those who personally love social media.
Easy to work anywhere.
Pay: With an average salary of $52000 a year, this job can be done from home, making it a perfect fit for moms.
18. Human resources manager
Work-life balance is crucial for working moms, and a career as a human resources manager can provide just that.
Human resources managers are responsible for managing employee benefits, overseeing hiring processes, and handling employee relations. This job offers flexibility, including the ability to work remotely or part-time.
A career in human resources management can positively impact a working mom’s family life by providing a consistent schedule that doesn’t involve weekends or holidays.
Benefits:
HR managers are in high demand in many industries, as every organization requires HR expertise to manage its workforce effectively.
Opportunities for personal and professional growth.
Make a positive impact on employees’ lives.
Ample networking opportunities with employees, upper management, and external stakeholders.
Pay: Human resource managers often receive competitive salaries, with average annual earnings exceeding $120,000.
19. Sell on Printables on Etsy
In recent years, the demand for printable products has grown tremendously, making Etsy a great platform for working moms without a degree to earn a steady income from home.
Printables are digital files that customers can download and print at home, such as wall art, planners, calendars, and invitations.
The best part is that once you create a printable, you can sell it repeatedly without having to invest more time or money.
Check out the list of the most popular printables you can create.
Benefits:
A flexible job that allows you to work from home and set your own hours.
Earn a steady income from a single printable, which means you can focus on creating new products and growing your business.
Able to start s small business.
Pay: This is a passive income. Learn how much these sellers have made.
20. Retail associate
Many moms become retail associates to get a discount from the retailer!
Working in retail can be a rewarding and dynamic career choice. Retail jobs are generally physically demanding, as employees are often on their feet for long periods and may need to lift and move heavy items.
The nature of retail work can also be stressful, especially during busy periods such as holidays or sales events. However, it can also be an opportunity to develop and utilize various skills, particularly when interacting with customers.
Benefits:
Working part-time hours while your children are at school.
Discounts to the retailer you work.
Flexible scheduling hours.
Pay: This is a minimum wage job earning $13 an hour to $18 an hour.
21. Nursing
Nursing is a fulfilling career for moms who enjoy taking care of others.
While most nursing positions require a degree, there are also entry-level jobs available for those without a degree. Certified nursing assistant (CNA) and licensed practical nurse (LPN) are two such positions.
Both positions require certification and training, which can be completed in a matter of months. Pursuing a career in nursing as a working mom without a degree offers the flexibility to balance work and family while also providing the opportunity for career advancement.
Benefits:
Flexible scheduling around what works best for your family.
Ability to work part-time or full-time.
Great career option to take fewer hours while your children are little and more hours when they are in school.
Pay: The average hourly rate for nursing varies depending on where you work. Most certified nurses make between $32 an hour to $50 an hour.
22. Transcriber
As a transcriber, you will listen to audio files and create a document that contains an accurate record of what was said. This is one of the best jobs for moms with no degree, as most transcription companies just require you to pass their test before they give you work.
To become a successful transcriber, you will need fast typing skills, attention to detail, and the ability to sit for long periods of time. You may also need to purchase special transcribing equipment, depending on the company you work for. Most transcription jobs will require the ability to type 75 WPM or more.
This is a great non phone work from home job.
With the right skills and tools, you can become a successful transcriber and earn a decent income. So if you are a fast typer with an eye for detail, consider taking a free mini-course to find out if this is the right job for you.
Benefits:
Transcription jobs from home are available remotely and work as many hours as you want.
Set your own schedule.
Make money by meeting deadlines.
Pay: Generally, transcriptionists earn around $19 per hour in the US, but this can be more depending on your employer.
23. Graphic Designer
Graphic design is an excellent job for working moms with no degree, as it allows for significant flexibility in working hours and can be done from home.
As a graphic designer, you will be responsible for creating logos, designing websites, and developing marketing materials such as brochures and flyers. To succeed in this field, you’ll need to be creative, detail-oriented, and able to work with clients to meet their specific needs.
Benefits:
Balance their family responsibilities with a fulfilling and rewarding career.
Perfect to showcase your creative side.
Pay: With a median annual wage of $48000 per year, graphic design is a lucrative career that offers plenty of room for growth and advancement.
24. Online Coach
Being an online coach is a great job for individuals who are looking to earn money online without a degree. While some online coaches do gain certifications, it is not always necessary.
There are several types of coaching fields to enter, including career coaching, life coaching, health coaching, family coaching, and fitness coaching. It is advisable to choose a field that you have experience in or feel comfortable handling.
As a life coach, for example, you can assist clients in achieving their goals, dealing with self-esteem issues, or working on relationships.
Benefits:
Freedom to set your own schedule and work from home, which allows you to balance work and family responsibilities.
Potential to earn a good income, especially if you specialize in a high-demand niche and build a strong client base.
Viable career option for working moms without a degree.
Work remotely from their computers and communicate with clients online.
Pay: Most coaches make between $30 an hour – 100 an hour pending experience.
25. Counselor
Counseling is indeed a vital service that plays a crucial role in helping individuals and families overcome difficult challenges.
As a counselor, you work closely with clients to address various issues and support them in achieving their personal and professional goals.
Counselors can work in diverse settings, including private practices, mental health centers, schools, substance abuse centers, or government institutions. This allows for a wide range of opportunities and flexibility in terms of work environment and schedule. Additionally, advancements in technology have made it possible for counselors to provide their services online, further expanding the accessibility and convenience of counseling.
Benefits:
Flexibility to work part-time or full-time.
Making a positive impact on the lives of others and contributing to their well-being is a significant aspect of counseling that attracts many individuals, including moms, to pursue this profession.
Offers a fulfilling and financially rewarding career path.
Pay: The average hourly rate for counselors is $39 an hour.
Other Jobs Options to Consider:
Home Health Aide: Care for patients in their own homes. Many opportunities for part-time work.
Personal Care Aide: Assist clients with daily tasks such as bathing, dressing, and grooming. Flexible schedules are available.
Event Planner: Plan and organize events such as weddings, conferences, and parties. Can often work on a freelance or contract basis.
Photographer: Take photographs for a variety of purposes such as weddings, events, or marketing materials. Can often work on a freelance basis.
Personal Trainer: Help clients achieve fitness goals through exercise and nutrition coaching. Can often work on a freelance or contract basis.
House Cleaner: Clean homes or businesses on a regular basis. Offers flexibility in terms of schedule and workload.
Online Tutor: This job involves teaching students online in various subjects. Skills required include teaching ability, subject expertise, and communication. To balance work and family life, set a schedule and prioritize family time.
Translator: This job involves translating written or spoken content from one language to another. Skills required include fluency in multiple languages, attention to detail, and communication. To balance work and family life, set a schedule and prioritize family time.
Pet Sitter/Dog Walker: This job involves caring for pets while their owners are away. Skills required include love for animals, responsibility, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
Personal Shopper: This job involves shopping for clients and delivering their purchases. Skills required include organization, communication, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
What to consider when choosing a job for working moms without a degree?
Working mothers without a degree face many challenges when it comes to finding a job.
They need to find a balance between their family and career commitments, and they also need to find a job that is flexible enough to accommodate their schedule. Here are the things to consider when looking for a new job.
1. Hours and Shiftwork
For working moms being able to control their own schedules allows them to be present for their children’s needs while also earning an income is extremely important. It is important to consider the hours you have available to dedicate to a job along with the shiftwork necessary when choosing a job.
Think about whether you want to go part-time or full-time.
Also, weekend shifts are also an option for those who need to work around their family’s schedule. Even better, remote work has become increasingly popular and offers even more flexibility.
2. Salary
Salary considerations play a significant role in achieving this stability a mom desires.
It is essential to explore different salary options and negotiate to ensure that you are being fairly compensated for your skills and experience.
Consider starting salary, the potential for growth, benefits packages, and negotiation when exploring job options.
3. Responsibility and Stress
As any working mom can tell you, being a working mom can be an incredibly stressful experience. Mothers often have to balance their work responsibilities with household chores and childcare, which can be overwhelming.
Finding a job that balances responsibility and stress is crucial for working moms to maintain their mental and physical health, and to be able to provide for their families.
4. Level of Education Required
As a working mom, it is important to consider the level of education required when choosing a job.
Plus, it is crucial to research job requirements and considers personal interests and skills when selecting a job. By doing so, working moms can find a job that offers flexibility, decent pay, and job satisfaction.
5. Professional Licenses and Certifications
Obtaining, professional licenses and certifications is an excellent way for working moms without a degree to increase their job opportunities, earn higher salaries, and improve job security.
These certifications and licenses are often required for specific industries, such as healthcare, education, and law enforcement.
With so many options available, it’s important for working moms to explore the various certifications and licenses that are relevant to their industry and career goals.
6. Work-Life Balance
Balancing work and family life is a challenge for anyone, but it can be particularly daunting for working moms.
However, there are several factors to consider when choosing a job that can help achieve a work-life balance:
Flexible Work Hours: A job with flexible work hours can help working moms without a degree balance their work and family responsibilities. This can include part-time work, remote work, or jobs that allow for flexible scheduling.
Remote Work Options: Remote work can be an excellent option for working moms without a degree who need to work from home.
Company Culture: A supportive company culture can make all the difference for working moms. Look for companies that offer family-friendly policies such as paid time off, flexible work schedules, and on-site childcare.
By prioritizing work-life balance, working moms can achieve success in both their personal and professional lives.
7. Vacation and Time Off
For working moms without a degree, vacation and time off are crucial benefits to consider when evaluating a potential job offer.
Here are three factors to consider when reviewing a company’s vacation and time off policy:
The number of vacation days offered, including paid time off for sick days and personal days.
The flexibility of the policy, such as the ability to take time off for family emergencies or unexpected events.
The potential for extended leave, such as maternity or paternity leave.
8. Career Advancement
When considering a job as a mom, career advancement is an important consideration. It is essential to choose an employer and a job that offers opportunities for growth and progression in your chosen field.
Advancing in your career not only allows you to achieve personal and professional goals but also provides financial stability and job satisfaction.
Don’t underestimate the power of setting clear career goals and actively working towards them.
By investing in your skills, building a strong network, and setting clear career goals, you can pave the way for a successful and fulfilling career as a mom.
9. Job Security
Job security is especially significant for working moms, who may face more challenges in finding and keeping a job.
Typically, working moms are limited in their job options.
So, look for careers that provide financial security as well as companies with a solid track history.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
FAQ
You can search for remote jobs, part-time jobs, or freelance gigs.
You can also look for companies that have flexible policies in place. Also, reach out to your network and ask if anyone knows of any openings that are flexible.
Stay-at-home moms can find a variety of jobs that can be done from home and offer flexibility to work around their schedule. Here are some of the options available:
Working from home offers the benefit of having a better work-life balance and the ability to be present for their families while still earning an income.
Which Job for Moms will You Choose?
For moms who want to balance family and career, finding a job that offers work-life balance and career growth is crucial.
Not only can working increase income, but it can also lead to career advancement and personal fulfillment.
Above, we listed many great jobs for moms. You can choose a job that allows you to work from home, or one that provides flexible hours. Also, many moms like me prefer one of these early morning jobs.
Whatever you choose, make sure you find a job that you enjoy and that allows you to spend time with your family.
Know someone else that needs this, too? Then, please share!!
Veterans Life Insurance Group policies are a good option for those in the military, and that is why they received an honorable mention for our list of the best life insurance companies in the United States.
If you have ever shopped for life insurance, then you are likely well aware that there are many different variables that you need to be cognizant of before deciding on your coverage. One such factor is ensuring that you will have the proper amount of protection for your needs. This means that your loved ones or beneficiaries will have enough funds for paying final expenses, paying off big debts, or paying ongoing living expenses if or when the unexpected should occur.
It is also important that you have the proper type of insurance coverage. For example, today, there are many different variations of life insurance protection that you can choose from. While this helps insureds in custom choosing coverage to fit their needs, you also don’t want to pick a policy that isn’t suitable for your specific time frame and your possible long-term savings goals.
There is also another criterion that many people may not realize is important – but should. This is ensuring that the company through which the coverage is purchased is strong and stable financially and that it also has a positive reputation for paying out its policyholder claims. The reason that this is essential is because you don’t want to place your loved ones or beneficiaries in the hands of an insurance company that may not make good on its financial promise to pay out – especially in their time of need.
With this in mind, it is always important to do a thorough review of an insurer before moving forward with the purchase of its coverage. One company that had a good, solid reputation in the life insurance industry is Veteran’s Group Life Insurance Company of Valley Forge, Pennsylvania.
The History of Veteran’s Group Life Insurance
Veteran’s Group Life Insurance Company, also known as Veteran’s Life Insurance Company, has somewhat of a long history regarding names, mergers, and acquisitions. Between the years of 1974 and 1980, National Independence Life Insurance Company operated, and then on January 1, 1981, National Independence became Veteran’s Life Insurance Company.
For more than 26 years, Veteran’s Life Insurance Company operated out of Valley Forge, Pennsylvania. Then, on July 1, 2007, Veteran’s Life Insurance Company merged into Stonebridge Life Insurance Company. Stonebridge was headquartered in St. Louis, Missouri. (Previously, Stonebridge Life Insurance Company was known as J.C. Penney Life Insurance Company, from December of 1967 to May of 2002).
Several years after the merger of Stonebridge and Veteran’s, on October 1, 2015, Stonebridge Life Insurance Company merged into Transamerica Life Insurance Company. This company is operated out of Cedar Rapids, Iowa, and it specializes in life insurance, variable life and annuity contracts, and disability insurance coverage.
Veteran’s Group Life Insurance Company Review
Veteran’s Life Insurance Company, when operating, was headquartered in Valley Forge, Pennsylvania. The company offered a variety of coverage products, including life insurance protection.
It also offered personal injury and property damage, recreational vehicles, and accounts receivable. The company also offered auto insurance, outsourcing, and motorcycle insurance to its customers.
Financial Strength, Ratings, and Better Business Bureau Grade
Before the merger of Veteran’s Life Insurance Company, this insurer was rated by A.M. Best Company as an A (Excellent), and it also had an issuer credit rating of a+. As Veteran’s Life Insurance Company has now been disbanded, these ratings are no longer effective.
Concerning Transamerica Life Insurance Company, the following ratings apply:
A+ from A.M. Best
AA- from Fitch
A1 from Moody’s
AA- from Standard & Poor’s
Transamerica Life Insurance Company has been an accredited company through the Better Business Bureau since December 15, 2014. The company has been given the grade of A+, out of an overall grade scale of A+ through F.
Over the past three years, Transamerica has closed 278 complaints with the Better Business Bureau, of which 97 have been closed within the past year. Of these 278 complaints, 196 were having to do with the company’s products and / or services, 41 had to do with the company’s billing and / or collections, 30 had to do with the company’s advertising and / or sales issues, 10 had to do with delivery issues, and 1 had to do with guarantee / warranty issues.
Life Insurance Products Offered Through Veteran’s Group / Transamerica Life Insurance Co.
Transamerica Life Insurance Company provides a wide variety of different life insurance products. These include both term and permanent coverage, as well as accidental death coverage.
Term Life Insurance Coverage
Term life insurance is considered as the most basic type of life insurance coverage. This is because term provides death benefit protection only – and because of this, term can be a very affordable type of life insurance protection.
Transamerica offers several different term life insurance options. These include policies with term limits of 10 years, 15 years, 20 years, 25 years, or 30 years. Coverage can range from a low of $25,000 up to a high of $1 million in face amount. Most of the policies that are offered through Transamerica will require the applicant to undergo a medical exam as a part of the underwriting process.
Term life insurance policies that are offered via Transamerica include the:
Trendsetter Super Series
Trendsetter LB (Living Benefits)
Whole Life Insurance Coverage
Whole life is a type of permanent life insurance protection. This means that the policy offers a death benefit, along with cash value build up. The cash value is allowed to grow tax-deferred, which means that there is no tax that is due each year on the gain, but rather tax is only due at the time of withdrawal.
Both individual and group whole life insurance policies are available through Transamerica. Also, there are whole life insurance policies available through Transamerica with face amounts of between $2,000 and $50,000 that can assist loved ones in paying for final expenses, such as funeral and burial costs.
Universal Life Insurance Coverage
Universal life insurance is another type of permanent life insurance coverage. While universal life offers both a death benefit and a cash value component, this type of coverage is more flexible than whole life insurance. This is because the policyholder, within certain limits, may choose how much of the premium can go towards the death benefit and how much of it can go towards the cash value. In addition, the amount and the frequency of the premium may also be modified, provided that there is a sufficient amount of cash value in the policy.
Variable Universal Life Insurance Coverage
Variable universal life insurance is yet another type of permanent life insurance. Here, too, there is a death benefit and a cash component of the policy. However, the policyholder can invest the cash component in equity investments such as mutual funds – and because of this, the cash has the opportunity to grow substantially due to market movements. It can also, however, lose value due to market risk. With that in mind, it is important to have a good understanding of all of the potential risks involved before purchasing a variable life insurance product.
Final Expense Life Insurance Coverage
Final expense life insurance coverage is also offered through Transamerica Life Insurance Company. While it may be difficult for most people to discuss, end of life expenses can be high – in fact, today, the average funeral can cost upwards of $10,000. This is especially the case when factoring in such expenses as one’s headstone, burial plot, flowers, transportation, and the memorial service itself.
When loved ones do not readily have access to this much money quickly, a final expense life insurance policy can be a good solution to ease financial worries – and to avoid having to dip into savings or other assets to pay these bills.
Transamerica’s final expense life insurance is a whole life insurance policy – which means that it provides a death benefit and a premium amount that is locked in a guaranteed. It also means that there is a cash value component that will provide tax-deferred savings over time.
There are three different final expense policies to choose from through Transamerica. These include the following:
With accidental death insurance, an amount of death benefit is paid out to beneficiaries if an insured die as the result of a covered accident. This benefit will be payable either on its own or in addition to other life insurance coverage.
This type of coverage can also provide benefits in case of a covered accident where the insured loses a limb and / or their vision. The purchase of an accidental death insurance policy does not require a medical exam in order to qualify. This type of coverage may be purchased as a stand-alone policy, or in conjunction with another insurance plan.
There are various options available about accidental death coverage. These include:
Plan A: This policy will pay out a benefit that is equal to $250,000 for a covered accidental death. The benefit will double and payout the amount of $500,000 for common carrier accidents.
Plan B: This plan will pay out a benefit that is equal to $125,000 for a covered death that is accidental in nature. The amount of the benefit will double to the amount of $250,000 for common carrier accidents.@media(min-width:0px)#div-gpt-ad-goodfinancialcents_com-large-mobile-banner-1-0-asloadedmax-width:250px!important;max-height:250px!important
It is important to note that there are some limitations and exclusions included on these policies.
Other Products Offered
In addition to life insurance coverage, Transamerica offers annuities and disability insurance. It also offers dental insurance, long-term care insurance, and Medicare Supplement insurance coverage in order to help seniors from having to pay high out-of-pocket expenses due to Medicare Part A and B coinsurance and deductibles.
How to Find the Best Premium Quotes on Life Insurance Coverage
If you are seeking the best premium quotes on life insurance coverage from Veterans Life Insurance Company, Genworth Life Insurance, or from any life insurance carrier – then it is typically your best course of action to work with either an agency or an independent brokerage that has access to multiple life insurance providers. This is so that you can more directly compare, in an unbiased manner, numerous life insurance policies, benefits, and premium quotes – and from there, you can make the decision as to which one will be the best for you.
We know that purchasing life insurance coverage can often seem a bit overwhelming. There are many variables to be aware of – and there are lots of carriers in the market that you can compare and contrast. It always helps to have a guide to walk you through the process. This is especially the case if you have a specialized situation such as a health condition or if you have been turned down for coverage in the past. But the good news is that today, there are still many options regarding coverage and premium price that may be available to you. So, contact us today – we are here to help.
It was a report two years in the making — one that details how California, a state that never officially sanctioned slavery, can confront decades of policies that have kept Black residents from living in the neighborhoods they choose, being treated fairly at doctor’s visits and building generational wealth.California’s reparations task force completed its work Thursday and turned more than 100 recommendations over to the Legislature, the first work of its kind in the U.S. The nearly 1,100-page document recommends the state formally apologize and suggests how to calculate monetary reparations.Read an executive summary of the California Reparations Task Force’s report here.Read the full California Reparations Task Force report here.Here’s what the task force examined:HOUSING DISCRIMINATIONThe report recounts California policies that have kept Black families from retaining property and living in certain neighborhoods. The effects of redlining, which led to Black families being denied home loans; and eminent domain, where residents’ property was seized by the government, still linger, the report states.The panel recommended returning property unjustly seized from Black residents. It also urged lawmakers to offer property tax relief to African American homeowners living in historically redlined neighborhoods.OVERPOLICING AND MASS INCARCERATIONThe task force condemned policies and practices that have led to Black Californians being disproportionally stopped by police, killed by law enforcement or imprisoned.Recommendations include ending the death penalty, banning cash bail, requiring anti-bias training for police officers and funding education for more African American prospective lawyers. The panel also called on lawmakers to bar searches by law enforcement based on a person’s consent alone.HEALTH HARMSThe committee urged lawmakers to address disparities in maternal mortality and treatment for substance abuse. Members also called for lawmakers to set aside money to research rising suicide rates among African American youth.Another suggestion is to fund wellness centers in historically Black neighborhoods to address mental health issues and refer patients for psychiatric or medical care.PAYMENTSThe recommendations include paying Black Californians who lived in the state while certain discriminatory policies were in effect. The task force voted to limit eligibility to people descended from free or enslaved Black people living in the United States by the end of the 19th century. The panel stopped short of endorsing a fixed dollar amount for individuals. But the members recommended calculations from economists projecting the state is responsible for more than $500 billion for overpolicing, mass incarceration and housing discrimination.AGENCYThe task force recommended creating an agency to implement and oversee reparations programs and help people research their family history to find out if they may be eligible for compensation.NEXT STEPSAny policy changes must come through legislation signed by the governor. State Sen. Steven Bradford and Assemblymember Reggie Jones-Sawyer, both Los Angeles-area Democrats on the task force, have both said they plan to introduce legislation. Bradford has previously cautioned that it would be difficult to get large cash payments approved.
It was a report two years in the making — one that details how California, a state that never officially sanctioned slavery, can confront decades of policies that have kept Black residents from living in the neighborhoods they choose, being treated fairly at doctor’s visits and building generational wealth.
California’s reparations task force completed its work Thursday and turned more than 100 recommendations over to the Legislature, the first work of its kind in the U.S. The nearly 1,100-page document recommends the state formally apologize and suggests how to calculate monetary reparations.
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Here’s what the task force examined:
HOUSING DISCRIMINATION
The report recounts California policies that have kept Black families from retaining property and living in certain neighborhoods. The effects of redlining, which led to Black families being denied home loans; and eminent domain, where residents’ property was seized by the government, still linger, the report states.
The panel recommended returning property unjustly seized from Black residents. It also urged lawmakers to offer property tax relief to African American homeowners living in historically redlined neighborhoods.
OVERPOLICING AND MASS INCARCERATION
The task force condemned policies and practices that have led to Black Californians being disproportionally stopped by police, killed by law enforcement or imprisoned.
Recommendations include ending the death penalty, banning cash bail, requiring anti-bias training for police officers and funding education for more African American prospective lawyers. The panel also called on lawmakers to bar searches by law enforcement based on a person’s consent alone.
HEALTH HARMS
The committee urged lawmakers to address disparities in maternal mortality and treatment for substance abuse. Members also called for lawmakers to set aside money to research rising suicide rates among African American youth.
Another suggestion is to fund wellness centers in historically Black neighborhoods to address mental health issues and refer patients for psychiatric or medical care.
PAYMENTS
The recommendations include paying Black Californians who lived in the state while certain discriminatory policies were in effect. The task force voted to limit eligibility to people descended from free or enslaved Black people living in the United States by the end of the 19th century. The panel stopped short of endorsing a fixed dollar amount for individuals. But the members recommended calculations from economists projecting the state is responsible for more than $500 billion for overpolicing, mass incarceration and housing discrimination.
AGENCY
The task force recommended creating an agency to implement and oversee reparations programs and help people research their family history to find out if they may be eligible for compensation.
NEXT STEPS
Any policy changes must come through legislation signed by the governor. State Sen. Steven Bradford and Assemblymember Reggie Jones-Sawyer, both Los Angeles-area Democrats on the task force, have both said they plan to introduce legislation. Bradford has previously cautioned that it would be difficult to get large cash payments approved.