College of Business News

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What is umbrella insurance?

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Umbrella insurance is a type of insurance coverage that extends the liability insurance from an auto or homeowner’s insurance policy to cover more situations with higher limits. Who should purchase it and how should people choose their coverage limits? Dr. James Philpot, certified financial planner and associate professor in the department of finance, economics and risk … [Read more...] about What is umbrella insurance?

What you should know about bankruptcy

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Bankruptcy is a legal process designed to provide debt relief to individuals, businesses and other entities struggling with overwhelming debt. This process allows debtors to reorganize their financial affairs and obtain a fresh start, while also providing protection from creditors. While bankruptcy can be a complex and difficult process, it can also be a valuable tool for … [Read more...] about What you should know about bankruptcy

Why are fewer people buying life insurance?

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After peaking in 1971, the percentage of families covered by life insurance has dropped steadily, from a high of 85.4% to 59.4% in 2019. Financial experts say life insurance is still a “huge need.” So why don’t more people buy it? Dr. Puneet Prakash, professor in the finance and risk management department at Missouri State University, offers a few reasons why to Policygenius. … [Read more...] about Why are fewer people buying life insurance?

Are bank deposits safe in wake of Silicon Valley Bank collapse?

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The recent failure of Silicon Valley Bank, the second-biggest bank collapse in U.S. history, has raised this question for many Americans: Is my money safe in the bank? Experts like Dr. Jeff Jones, certified financial planner and department head of finance and risk management at Missouri State University, share with ABC News why deposits are safe despite the financial turmoil. … [Read more...] about Are bank deposits safe in wake of Silicon Valley Bank collapse?