Aereo IllustrationAs a person who loves finding ways to save money and get stuff for free (legally of course), I am positively intrigued about an upcoming Supreme Court case which may actually decide the fate of how we consume media.

The Backstory

Aereo is a start-up tech company that has developed a micro antenna for catching the free over-the-air television signals and making that media available to consumers over the internet. They’re catching the same signals you can get on your own with a pair of rabbit ears.

In it’s simplest form, the April 22 Supreme Court case will be a faceoff between Aereo and the 4 major US broadcasting companies to decide the freedom of access to over-the-air television signals. Aereo has developed a micro antenna that captures the free tv signal and puts it on the internet to allow consumers to watch media they choose on their computers, smart tvs, tablets, and smart phones – for $8 a month. Aereo also has a cloud-based DVR storage feature which, if you didn’t want to watch the content live, you could record it for later viewing.

The major US broadcasters don’t want this to happen, being afraid of lost revenue and all.

Cool New Tech

In my opinion, Aereo has developed a hybrid DVR Slingbox Streaming Antenna system to give the consumer more options for watching the content they choose to watch. I think it sounds pretty cool, and not unlike videotaping my Saturday morning cartoons in the early 90s.

Growing up out in the country in Texas, my family got its television from a TV antenna on top of our house that caught the free over-the-air signals from Dallas. So, I’m kinda in favor of this new Aereo technology.

Those same tv signals are still our there, although they’ve been updated to digital and, in some cases, HD quality. All you need is a pair of updated rabbit ears to enjoy free local tv channels. And these are the channels Aereo is catching with their micro antenna. For my non-lawyer mind, it seems that the Aereo antenna is to free over-the-air tv as Slingbox is to cable and satellite.

So What’s the Big Deal, Broadcasters?

What the big broadcasters are most worried about, it seems, is not necessarily losing profits to Aereo, but the precedent that will be set if Aereo wins the Supreme Court case. The broadcasting companies charge that Areo is infringing on their copyrights because, they claim, Aereo is repackaging their content and charging customers access to it.

In one light, that’s true. But Aereo argues that they’re not repackaging and charging for the content; they’re simply charging for the ability to access the signal on the internet. Something that you can’t currently get from the broadcasters.

The bigger problem that the big broadcasters ee down the road is that the current cable and satellite companies (which pay the broadcasters retransmission fees when packaging local channel content to subscribers) will develop similar technology. Losing out on this revenue could cost the broadcasters tens of billions of dollars.

With that much to lose, it’s no surprise that ABC, NBC, ABC, and Fox are willing to stop an upstart tech company dead in it’s tracks. But that’s just my opinion, what do you think?

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This is a common question among individuals over the age of 50 and the answer to this question, with very few exceptions, is always yes. It’s not a question that tends to come about due to someone your age not wanting life insurance coverage; typically, it comes up due to the prices of premiums getting higher as you get older. The thought here being: should I take on this extra expense later in life? Will it even be worth what I’ll have to pay? Again, the answer is yes.

There are two reasons why seniors worry about the worth of a life insurance policy at their age, and those are that they 1) don’t have children that rely upon their income any longer, and 2) they have a spouse that has made investments elsewhere, such as retirement.

While both of these reasons are sound, they are still outweighed by the reasons why a senior should still consider obtaining a life insurance policy. You can get your own life insurance quote at Suncorps new insurance page.

4 Reasons Why Life Insurance is Still a Good Idea for a Senior Citizen

1. Cover More Financial Bases
Often, seniors haven’t really covered all of their bases and they don’t realize this until they sit down with a financial advisor that can really lay everything out on the table. When this discussion takes place, a financial advisor worth their salt will often ask the following questions:

  • Do you have grandchildren whose college tuitions, future weddings, or future generations, you’d like to provide for?
  • Have you financially planned, and set aside funds, for your children or grandchildren should something happen to them medically?
  • Do you currently have any children, or grandchildren, who require extra medical expenses for a life-long illness, or disability?
  • Do you have a large estate, which will be subjected to a hefty estate tax once you die?
  • Do you currently own, found, or have substantial affiliations, with a business or charitable organization that you need, or would like to, provide for?
  • Do you have heirs that you would like to gift with trusts?

Affirmative answers to any of these questions raise a significant, and valid, argument in favor of a life insurance policy.

2. Provide Your Spouse with a Comfy Retirement
This point is actually one that would be brought up with all of the above mentioned ones by a financial advisor, but it deserves its own mentioning, as it isn’t always thought all the way through.

Even if your spouse has their own retirement lined up, or their own financial investments, there’s a lot that could happen after you pass. For instance, if you pass several years before your spouse actually comes into their retirement, they might find themselves financially affected for a time before those funds become available. When this happens, widowed spouses often are forced to dip into their 401(k) and then push back their retirement in order to replenish the losses.

With a life insurance policy on the ready, they’re completely covered for anything that might come up, can retire on time, and possibly even extend any extra funds that they didn’t need to other family members or charitable causes. It’s always better to have too much, than too little, after all.

3. Quick Cash Will Come in Handy for Your Loved Ones
When you die, your life insurance policy will deliver a fast cash payout to your loved ones. If everything was in place, and all premiums were paid, your loved ones will see those funds within two to three weeks. This comes in very handy for loved ones who had to take off work to care for you up until death, who are continuing to take off from work to grieve, who are left with residual medical bills, who need funeral reimbursement, and who are just starting to see estate taxes, probate costs, and outstanding debts pile up.

4. Shield Your Estate from Uncle Sam
This is especially important if you and your estate have a high net worth, or if you currently run a successful small business. You may think you’re leaving behind a substantial amount to your heirs, but it might not be so substantial once a large chunk of it is liquidated to handle the estate tax Uncle Sam wants to put in his pocket.

How does a life insurance policy help? Well, you can set it up to pay off the estate tax; in fact, you can make the policy’s sole purpose exactly that. Then, all other investments you’ve made, and assets you’ve set aside for your heirs, will go solely to them – just as you intended.

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Is Social Media Keeping You in Debt?

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How to Spot Bad Financial Advice

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3 Easy Steps to Automate Your Money

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MagicBand Mentality – The Ease of Spending at Disney

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After reading about how the one-percenters from New York “do” Disney (by hiring disabled people to get them to the front of the lines at Disneyland), I’ve been tuned into Disney news for the past week or so. This morning, I was reading an interesting article about a new piece of technology that plans to […]

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A New Twist in Online Spending

May 16, 2013

Although I’ve fully embraced online shopping for a while now, I always feel like I’m one bargain away from emptying my paypal account. The reason so many personal finance bloggers recommend cash vs. credit or debit cards is that people don’t like separating from their cash, but find it easier to spend more when all […]

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