By: Nathaniel Nevins | January 27, 2017


This is Nate Nevins with Nevins Financial. Today we’re going to talk about understanding insurance and what its purpose really is. I think a lot of people just don’t understand the true intent of insurance. As a result, that kind of leads into, “Well, why the heck am I paying this premium when I don’t even know what the benefit is to me?” Because insurance isn’t really an immediate benefit most of the time, and its more of a delayed benefit dealing with a claim of some sort. I mean if you think about health insurance for example, you pay this exorbitant premium for what? The whole purpose is to transfer risk. That’s the purpose of insurance is taking the risk off yourself and giving it to an insurance company so that in the event ...

By: Nathaniel Nevins | January 18, 2017

When life insurance is brought up, most people automatically think of term insurance. What most people don't realize, however, is that there are different types of insurance. We'll start out by defining term insurance. Term insurance is insurance with a specified death benefit (face amount) that lasts for a specified period of time. There are four types of term insurance.

  1. Level Term Insurance
  2. Annual Renewable Term Insurance
  3. Decreasing Term Insurance
  4. Return of Premium

Level Term
Level term insurance is what most people think of when they think about life insurance. They pay X amount of dollars per month for X amount of years. Depending on what the insurance company determines your worth is will determine the maximum death benefit available to you....

By: Nathaniel Nevins | December 30, 2016

It can be so frustrating to pay your monthly insurance premium, especially when things are tight and you don't use the benefit. But if we can come to understand the real purpose of insurance, I think it will become less frustrating. The whole purpose behind any type of insurance, whether it's life, health, disability, or auto, is to transfer risk. That's it! So by not purchasing insurance, you assume all of the risk yourself.

So how does it work? Well, insurance only works when lots of people are involved. Insurance companies are very good at what they do and can figure out through statistics what is going to happen. They use what's called the Law of Large Numbers to figure this stuff out. Basically it says that the more people involved, the...

By: Nathaniel Nevins | December 07, 2016

In order to make a good decision on the type of life insurance to buy to protect your family, you first need to know what options are available to you, what your objectives are, what pros and cons there are to each, and how much it will cost. Without proper education, we tend to make poor decisions. So let's start off with the first part; what options are available to you?

There are three main categories of life insurance with different types of life insurance falling into one of the three.


Term insurance is any type of life insurance that lasts for a specified period of time for a specified rate with a specified death benefit. It works much like auto insurance, in that if you don't make a claim it doesn't pay out. It is the least expensi...