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If your life insurance is coming to an end or mortgage nearly paid off, you need to read this
· Confirmed
In Short: The National Association of Mortgage Brokers is urging the Federal Housing Administration to end its lifetime mortgage insurance rule, allowing borrowers to cancel premiums once their loan reaches 78% of their home's value.
CBS News reports that only 52% of Americans are confident their retirement savings will last throughout their lifetime, down from 73% in 2025, according to New York Life's 2026 Wealth Watch Midyear Outlook.
Among those surveyed, 56% have updated their retirement strategy, while 34% have delayed or plan to delay retirement.
Respondents who both worked with a financial professional and owned protection products such as life or long-term care insurance were more confident, with 86% saying they were confident their assets would last through retirement.
Permanent life insurance generally costs more than term coverage, and premiums can represent a significant long-term expense, so it's important to weigh all the factors beforehand.
Life insurance proceeds paid to beneficiaries after the insured dies are generally excluded from their taxable income, according to the IRS, though there are exceptions.
The average two-year fixed mortgage rate has risen to its highest level since July 2024, while the average five-year home loan rate has reached its highest point since October 2023.
The National Association of Realtors reported that its Pending Home Sales Index declined to 66.0, its weakest reading since the series launched in 2001, foreshadowing further softening in closed sales before year-end.
Money Saving Expert founder Martin Lewis has urged everyone to pay for a lasting power of attorney, which he believes is “more important than a will.”
What's confirmed
- CBS News reports that only 52% of Americans are confident their retirement savings will last throughout their lifetime, down from 73% in 2025, according to New York Life's 2026 Wealth Watch Midyear Outlook.
- Among those surveyed, 56% have updated their retirement strategy, while 34% have delayed or plan to delay retirement.
- Respondents who both worked with a financial professional and owned protection products such as life or long-term care insurance were more confident, with 86% saying they were confident their assets would last through retirement.
- Permanent life insurance generally costs more than term coverage, and premiums can represent a significant long-term expense, so it's important to weigh all the factors beforehand.
- Life insurance proceeds paid to beneficiaries after the insured dies are generally excluded from their taxable income, according to the IRS, though there are exceptions.
- The average two-year fixed mortgage rate has risen to its highest level since July 2024, while the average five-year home loan rate has reached its highest point since October 2023.
- The National Association of Realtors reported that its Pending Home Sales Index declined to 66.0, its weakest reading since the series launched in 2001, foreshadowing further softening in closed sales before year-end.
What's still developing
- Promotions are subject to availability and retailer terms.
- And that's an area where many Americans appear to have some uncertainty.
- We may receive commissions from some links to products on this page.
- Those adjustments can take many forms, and life insurance may be one tool worth considering as part of the process.
- Life insurance shouldn't replace traditional retirement accounts, which are specifically designed to hold savings and investments for retirement.
- Learn about the New York Life coverage options available to you here.
- The National Association of Mortgage Brokers is urging the Federal Housing Administration to end its lifetime mortgage insurance rule, allowing borrowers to cancel premiums once their loan reaches 78% of their home's value.
- 100% online process from start to finish for coverage up to $3M Get $250k in Term Life Insurance for as Low as $13/month No medical exams for policies under $3 Million.
- That is until my mate in Essex told me how much he was paying for insurance.
- Prosecutors said Flynn shot the 37-year-old twice in the back of the head as she lay in bed on Feb, 16, then staged a break-in to preserve his job at her family's company, collect life insurance, keep custody of their two daughters, and protect his standing in their church, all while pursuing a relationship with his mistress.
- AI is becoming central to modern sports broadcasting Vice President of Product Development at Relm Insurance How insurance and risk models are evolving to support satellite connectivity Bold attempt to design smartphones specifically for Indian consumers.
- He trusts her,he said, and credits her with saving his life.