The holiday season is here, which, among other things, means many charities are in the midst of their busiest time of year with regard to donations. A 2017 study from Guidestar found that 50.5 percent of surveyed nonprofits receive more than half of their donations in the final three months of the year.1
There are many reasons why charitable giving ramps up as the year draws to a close. Some individuals may feel urgency to follow through on early-year resolutions to give more. Others may be swayed by the spirit of the holiday season. And, of course, many Americans are also looking for ways to maximize their end-of-year tax deductions.
April is National Financial Literacy Month. The purpose is to educate Americans on some important but often overlooked financial issues. The death of a parent may be one of the biggest threats that family can face, especially if there are minor children in the home.
Despite the threat posed by death, studies show that many households have little or no life insurance protection. A 2015 study from Bankrate found that only 60 percent of Americans had life insurance, and half of those had less coverage than they needed. Among families with children, 37 percent had no life insurance protection, while 32 percent had less than $100,000 in coverage.1