When you apply for life insurance or open a retirement account, you'll be asked to name beneficiaries. This is an important step in financial planning.

​Social media has grown by leaps and bounds over the past decade. What many people don't understand are the unique risks that come along with social networking.

Anyone using Facebook, Instagram, Twitter, LinkedIn or any other social networking site should exercise extreme caution in what they decide to say online.

​It's a nightmare scenario for any new car buyer. You drive it off the lot and a few days later another driver runs a red light, smashing into your car and severely damaging most of the front end and irreparably damaging the frame - essentially totaling the vehicle.

Luckily nobody was injured, but will insurance cover the total loss? Are you expecting the insurer to pay off the loan? That may not always be the case.

Since the other driver was at fault, their insurer will be the one picking up the tab for your vehicle and, as repairing it is out of the question, it will have to pay you for the damage.

But, if you only put a little bit of money down when taking out a loan on the car, you could end up having to pay off at least some part of the loan balance that's left over after the insurer pays you for your vehicle. 

​People often worry about fires damaging their homes and commercial buildings. While fires are dangerous and can cause extensive damage to property, they are rare compared to another element that is in the home or building every minute of every day: Water. 

Properties suffer water damage more frequently than they do other causes of loss. Water damage emergencies occur 14,000 times a day in American homes and businesses, according to insurance industry data.

​If you are one of the Americans who have purchased a motorcycle in the last 10 years, you're clearly far from alone: Ownership has risen steadily in the past decade, and over 13 million people across the U.S. are now riding motorbikes. And of that total, nearly 20% of all riders are women.

Just as for car drivers, motorcycle riders are required to secure insurance, and you want to make sure you have proper coverage in case you are in an accident or your bike is stolen. And if you've purchased a quad, three-wheeler or dirt bike, you should get insurance for these as well. 

​Health care costs continue to rise, and it can feel as though there is nothing you can do to combat the expenses—but there is. Taking control of your overall well-being can lower your health care costs.

​The possibility of becoming disabled is very real for working Americans, and so are the financial consequences and costs associated with employee absence. Unless it is offered through their employer, most adults have little, if any, disability insurance coverage.

L​ong-term care covers a variety of custodial (unskilled or semi-skilled) types of care.  Although nursing homes are still part of the long-term care equation, there are many other options to consider:

​The availability of home DNA-testing kits has resulted in many unanswered questions about life insurance.

Life insurers are concerned that their policyholders may hide results from DNA tests that show they may have a propensity for specific health problems. And privacy and consumer advocates are concerned that life insurers will use DNA tests to refuse coverage or charge more.

​Do you have expensive art in your home: Paintings, sculptures, glass works, textiles, ornamental jewelry, and other items?

If you have art, is it "fine art" - a one-of-a-kind work that may have some historic or artistic significance that required a specific fine skill to create, and is rare and unique?

Fine art differs from collectibles and jewelry, which your policy will typically cover up to a limit. For example, your policy may cover a loss of up to $2,500 for your art, collectibles and antiques.