For most people, their first encounter with life insurance is when a friend gets an insurance license. But the unfortunate fact is that even though life insurance is an important investment, most people show no interest in it. Even if some people get some kind of coverage, they didn’t buy it, it’s actually just sold to them.
Reasons Why You Need Life Insurance: When you grow old, get recruited, start your own business, get married and pave the way for your family, you’ll realize that life insurance coverage is indispensable. It protects your family when you no longer can. With the passage of time, life insurance offers you peace of mind. You can rest assured that life insurance would protect your possessions and your family in numerous ways.
Paying Off Funeral Expenditure: The cost of the funeral and burial can run into thousands of dollars. You don’t want your family to suffer financially along with the emotional loss they already experience. Investing in life insurance can help pay off these expenses.
Cover Your Children’s Education Expenses: As a responsible member of the family, you want your children to continue their education no matter what happens to you. That’s the main reason why you need coverage.
Replace Your Spouse’s Monthly Income: What if your spouse passes away while your children are still young? Life insurance replaces the revenue of the deceased person. This is needed to maintain a standard of living. Even if that person wasn’t earning, you’d have to hire help for domestic chores like cooking, looking after the kids, or running errands.
Paying Off Current Debts: Besides covering the cost of everyday living expenses, you also need life insurance to cover debts including mortgage. This saves you from selling the house.
Paying Off Estate Revenues: Land revenues are generally huge. When you have life insurance to pay them off, you can prevent finances from being messed up. You should use life insurance to pay off revenues of a large estate and use permanent insurance. This ensures that the coverage is there to protect you till the end.
If you’ve thought that you don’t need life insurance, these reasons should convince you otherwise. When you’re investing in life insurance, make sure that the face amount is high enough for replacing after-tax wages. Life insurance should cater to the income that you didn’t have the opportunity to earn by working owing to a premature death. It’s also something that protects your family and ensures that you can care for them even when you’re no longer with them. That’s the best way to ensure that you’re always watching over them.
There are companies that work on collecting and maintaining credit information of consumers. These are known as credit reporting agencies (CRAs). There are three such major CRAs in the country, namely Equifax, Experian, and TransUnion. Apart from these, there are other smaller-scale agencies too that specialize at the job. If you’re worried about “where to get my credit score?,” the larger CRAs are the most reliable bets.
These major CRAs obtain information from companies that you hold business and transactions with. People or companies that lend you money regularly report to these CRAs on your repaying status. There is also detailed information on the amount you are indebted and whether you have ever defaulted on your payments. Aside from the reports obtained from lenders, these companies also tally your general records based on certain other aspects. Some of these aspects are your public records from the local and state judiciary. These include your tax records and bankruptcy information. This information makes up an important chunk of your credit score and its report.
Equifax
Present in 24 countries, Equifax is an agency that offers consumers protection against identity theft and credit fraudulence. They also sell credit reports and credit monitoring assistance to businesses.
Experian
Experian started off in London and is now a trusted agency in 39 different countries. It provides you with a credit score, credit report, and even credit tracker on subscription. The agency uses FICO 8 system of credit score calculation. Experian was a part of Forbes’ “World’s Most Innovative Companies” in 2018.
TransUnion
Based across 30 countries with a database of over 1 billion consumers, TransUnion is another CRA giant. The agency, like the other ones, will provide you with your credit score and your credit reports. In case you decide to freeze your TransUnion credit report, it will also go the extra mile to notify Equifax and Experian, which frankly is a big help especially in case of identity theft and credit fraud.
So, the next time you are sat wondering “where to get my credit score?,” think of these three giants that provide you with an annual credit score and credit report for free once each year. However, if you are looking for more frequent updates, you can subscribe to their services and receive your monthly updates.
Did you know that you have more than a single credit score? Agencies calculate your credit score based on the data in your credit reports. If you are wondering, “where to get my credit score?,” there are three main credit reporting agencies. These can have different credit scores for you if your information on each of their credit reports is different. Also, these agencies charge a fee to reveal your credit score.
Recently, it has become easier to track and get hold of your credit score without paying any fees. You can get it from your credit card company, your loan provider, and even from a non-profit counselor. Here are a few tips you can use to check your score.