Health Insurance Carriers are still raising their premiums
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Aetna and Blue Shield of California drastically raised their insurance rates in March and April, despite the protest of California's insurance commissioner, Dave Jones. However, Jones was successful in negotiations with Anthem, and was able to lower their premium increases that occurred in February. The new premiums were just published on Monday and the calculations of the difference of old versus new premium will be available shortly. It is expected that Anthem Individual Policyholders will see the credits in their June statement.
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The Rule of 72 - How long does it take to double your money ?
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Having lived through the last couple of years of financial turmoil, it is important to understand some basic financial rules. With interest rates as low 0.25% or CD's of 1-3% how long will it take to double the money you invested? The easy-to- understand Rule of 72, demonstrates this. To find the number of years required to double your money at a given interest rate, you divide 72 by the compound return. The result is the approximate number of years that it will take your investment to double . For example, if you want to know how long it takes to double your money at an 8 % interest rate, divide 8 into 72. It takes approx. 9 years. So if you have your money in a CD with 2 % interest, it will take approx. 36 years to double your money. Does this make sense ? Ask me to explain how universal fixed index life insurance can be a very suitable retirement vehicle.
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