Life and Health

Planning a funeral is probably not high on your to-do list. However, you purchase life insurance to care of your loved ones, and pre-planning your funeral relieves your loved ones of this difficult task. You can even customize your funeral and tell guests to wear your favorite color, donate to your favorite charity or sing your favorite songs. Alternatively, you may decide on another option that reflects your interests, personality and wishes.

Cremation

According to the National Funeral Directors Association, over 70 percent of burials will be cremations by 2030. If you go this route, you may choose to have your ashes buried in a cemetery, displayed on a mantle, sent into space, enclosed into a concrete vessel that becomes marine habitat or turned into soil.

Create a Memory Box

Funerals give participants a chance to remember your life. Encourage your loved ones to create a memory box. They contribute items that remind them of you, and suggestions include a piece of jewelry, love letters, pictures or favorite scarf. The box can be displayed on a shelf or taken out on special occasions as your loved ones gather to remember you.

Host a Meal

Traditional funerals typically include a meal after the service and burial. Why not skip right to the meal. Choose any date you wish, including your birthday or favorite holiday, and instruct your family to serve your favorite foods, hire a DJ or play games as they celebrate you and the things you loved.

Start a New Tradition

To celebrate you and your life, encourage your loved ones to start a new tradition. They can volunteer at your favorite charity, take a trip together or gather for an annual picnic as they honor you together while doing something you enjoyed.

Record Stories

One of the best things about a traditional service is the chance to tell stories about you and your life. An alternative is to record those stories on videotape or in a scrapbook. Loved ones may share funny anecdotes, touching moments or favorite memories of your life and commemorate those stories for future generations.

Plant a Tree

To honor you, invite your loved ones to plant a tree. It can be in a park, in their garden or anywhere you have permission.

Sponsor a Charity

In your honor, ask loved ones to give to your favorite animal rescue, pregnancy center or school. The funds honor you and make the world a better place.

Pre-planning your funeral is an act of love. Consider these alternatives to a traditional funeral as you care for your loved ones.

Vaccinations are designed to prevent disease and protect people. Essentially, it’s a shot that introduces a killed or weakened form of a disease into your body. In response, your body builds immunity to that disease. The next time you’re exposed to the real disease, your body fights it off and you don’t get sick.

Health insurance typically covers vaccines, and your insurance company may even send you a reminder when you or your child is due for his or her next shots. Here are several reasons why vaccinations are important.

Protects Your Kids

Diseases like polio, pertussis (whooping cough), measles, diphtheria, rubella (German measles), mumps, smallpox, rotavirus, Haemophilus influenzae type b (Hib) and tetanus are all deadly. They are also prevented by vaccination. By following the recommended vaccination schedule as outlined by the Centers for Disease Control and Prevention, you protect your kids from hearing loss, paralysis, amputation, convulsions, brain damage and death, all health effects of the diseases vaccines prevent.

Protect Other People

Immunizations protect other kids and keep your community healthy. When your kids aren’t vaccinated, they can carry diseases to other people. Babies who are too young for immunizations and anyone with a compromised immunity, including cancer patients or elderly people, could contract a life-threatening disease when they’re exposed to someone who is not vaccinated.

Stop Outbreaks of Preventable Disease

A preventable disease could be eradicated in your area but may be thriving in another part of the world. Travel the globe or be exposed to a world traveler, and you or your unvaccinated child could carry or contract a disease. By getting regular vaccinations, you potentially curb outbreaks and stop the spread of diseases.

Vaccinations are Safe

Several controversies surround vaccinations, and you may be afraid that your kids will get a serious health challenge if you vaccinate them. Actually, vaccinations undergo intense testing and review by doctors, scientists and the federal government before they’re approved. The immunizations you and your children receive are safe.

Vaccinations are Recommended by Professionals

Doctor and scientists at the American Academy of Family Physicians, American Academy of Pediatrics and Centers for Disease Control and Prevention all recommend vaccinations. These men and women strongly support the protective qualities of immunizations.

Vaccines Save Money

By getting vaccinated, your kids are less likely to contract diseases. Better health means fewer visits to the doctor, less medications and bigger savings on health care.

Much controversy surrounds vaccinations, so do your research as you decide if they’re right for your kids. Ask your insurance agent, too, for a list of recommended vaccines for kids and adults.

The Affordable Care Act, also known as Obamacare, mandates that most Americans purchase health insurance. Because the coverage can be expensive, some families and individuals choose to join a medical cost sharing group. Discover the benefits and risks of this type of service before you sign up.

How Does Medical Cost Sharing Work?

Purchase a regular health insurance policy, and essentially the premiums you pay are used by everyone who’s insured with the same company. You pay the same premiums as everyone else whether you need frequent medical treatment or not. In this arrangement, someone who follows an unhealthy lifestyle receives more benefits that someone who doesn’t smoke, drink, do illegal drugs or engage in other risky behaviors.

Medical cost sharing is similar to regular health insurance. A group of people join together to share each other’s healthcare costs. The group could be united by shared religious beliefs, geographic location, lifestyle choices or a desire to save money. One big difference is that members of a medical cost sharing group abstain from unhealthy behaviors. Their decision to abstain from tobacco, alcohol, illegal drugs and risky behaviors keeps costs low and allows the medical cost sharing concept to work.

Every month, members pay the suggested fee that’s deposited into a dedicated account. When a member needs medical treatment, payment is made from the shared account. Instead of supporting strangers, members of the medical cost sharing group band together to take care of each other.

Benefits of Medical Cost Sharing

Because a healthy lifestyle sits at the core of medical cost sharing, most members are in great health. They’re already saving money because they don’t need expensive medications or frequent doctor visits, and the savings grow thanks to the concept of medical cost sharing. Many medical cost sharing programs are also exempt from the Affordable Care Act, which means members will not be fined for not purchasing federal mandated coverage.

Risks of Medical Cost Sharing

While medical cost sharing is affordable, it may be challenging to find a group of people who are committed to health. The idea is often found primarily in religious groups where the members’ beliefs already dictate that they follow a healthy lifestyle. Once you do find a group, it can be difficult to know when someone decides to take up an unhealthy habit or when someone needs to be removed.

Before you purchase health insurance, check into medical cost sharing options. You can also discuss your needs with your insurance agent as you find health insurance coverage for you and your family.

Everyone faces emergencies sometimes. Maybe a large home repair, job loss or other unexpected expense has made you miss a life insurance payment. The consequences of skipping a life insurance payment depend on the policy type, coverage, and terms and conditions. Here’s what you can do if you can’t pay your premiums.

Non-Payment of Term Life Insurance

When you purchased your term life insurance policy, you chose a payment frequency. Miss a payment, and you normally have a grace period of 30 days during which the death benefit will be paid to your beneficiary if you were to die. Pay the missed premium during the grace period, and your policy will be reinstated.

If you don’t pay within the grace period, your policy will be cancelled. Call the company if you pay bi-annually or annually and request a refund on the unused premiums which you already paid.

You can usually ask your company to reinstate the policy within five years of it being cancelled. Typically, you’ll need to complete the application again, undergo another paramedical exam and prove that you’re in good health. Premiums that went unpaid since the policy lapsed will also need to be paid before the coverage becomes effective.

Purchase a new policy. Even though you left one insurance policy lapse, shop around for another policy that may be cheaper.

Non-Payment of Permanent Life Insurance

If you can’t pay the premium on your permanent life insurance policy, you could cash out the policy and collect any accrued cash value. In this case, you would pay income tax on the payout if it’s more than the premiums you paid. Your policy also becomes void.
Another option is to reduce the death benefit and lose any cash savings. You’ll still be covered by your policy despite its reduced value.

Your insurance agent can help you convert your permanent policy into an extended term policy. The time period for this option depends
on how much savings your permanent policy has accrued.

Finally, ask if your lapsed policy can be reinstated. Because every company is different, check your policy for details on whether this is an option for you or not.

When you find yourself falling behind on life insurance payments, contact your insurance agent immediately. Share your situation and ask for options. By making sure you’re protected by a life insurance policy, you have peace of mind and care for your loved ones.

Buying life insurance is an important decision you make for yourself and your loved ones. The agent from whom you buy a policy plays a large role in helping you buy the right policy for your needs. Learn how to choose a life insurance agent as you prepare for your family’s future.

State Licensed

Your state’s insurance department issues licenses to life insurance agents who demonstrate that they understand insurance and are committed to a code of ethics. Select a licensed agent to ensure you deal with one who’s knowledgeable and permitted by law to issue you a policy.

Willing to Listen

You deserve a life insurance agent who will listen to you. He or she should take time to understand your financial situation, income, assets, attitude toward risk and personal situation. With this information, the agent can recommend products that work for you instead of selling something you don’t want or need.

Explains the Details

Life insurance lingo can be complicated. A good agent can explain all the details, including the difference between a term and whole life policy, so that you understand exactly what your options are.

No Pressure

You should never buy a policy from a pushy agent. Of course it’s a wise investment, but the choice of what insurance you buy and when you buy it should be one you make after careful consideration, not because you were pushed.

Provides Written Documentation

After you meet with an agent, he or she should prepare a personalized written document specifically for you. It will outline your current financial situation, personal needs and life insurance options. You can review that document as you determine which policy meets your needs. If the agent is unwilling to provide this documentation, look elsewhere for help.

Fair Compensation

Most life insurance agents are paid a commission on the policies they sell, but a few earn income from fees associated with the policies they sell. Understand the agent’s compensation plan to ensure you’re receiving a fair product recommendation and only the products you need.

Communicates Regularly

Life insurance isn’t something you can purchase and forget about. Your circumstances, family size, income or health may change and prompt you to select a different type or quantity of coverage. Select an agent who is committed to keeping in touch and checking on you at least once a year to see if your needs have changed. Every three years, your agent should sit down with you, review your policy and ensure you still have the coverage that’s best for you.

When you’re ready to purchase life insurance, carefully select an agent. Use this list to help you choose one who’s right for you.

National No Smoking Day occurs on March 14. If you still struggle with the habit, now’s a good time to kick it. Your health and bank account will thank you.

How Much Does Smoking Really Cost?

The average pack of cigarettes costs $6.36. Smoke a pack a day, and you spend $2321.40 a year on your habit.

Each pack of cigarettes also costs you $35 in health-related expenses. That cost includes treatment for the negative medical health effects of smoking and higher health insurance rates.

What Health Issues are Caused by Smoking?

Numerous illnesses and diseases are linked to smoking. They include:

*Cancer
*Heart disease
*Stroke
*Hypertension
*Emphysema
*COPD
*Osteoporosis
*Impotence
*Pregnancy complications

How Does Smoking Affect Health Insurance Premiums?

Treating the illnesses and diseases associated with smoking is expensive to health insurance companies. Because they are for-profit businesses, they pass those extra costs onto consumers, which means you pay more for your insurance.

On average, smokers pay up to 50 percent more than non-smokers for health insurance. As an example, if a non-smoker in your same demographic and health condition pays $500 for health insurance per month, you as a smoker could pay $750.

This is only an example since premium increases aren’t the same for every smoker. The length of time you’ve smoked, how much you smoke and even previous smoking habits can affect the rate increase you’ll see.

How can a Smoker Reduce Health Insurance Premiums?

Until you kick your smoking habit, check into several ways to reduce your premiums by even a few dollars a month.

• Choose a smoker-friendly insurance company. More than 20 percent of the adult population smokes, and some companies will reduce premiums in order to attract those customers. Research several companies to find one that offers lower rates for smokers.

• Bundle health and other insurance policies. When you buy multiple insurance policies from the same company, you could get a break on your premiums. Talk to your health, auto, home or life insurance agent for details on how bundling can save you money.

• Enroll in a supervised smoking cessation program. This step shows that you’re serious about breaking the habit. Many health insurance companies will pay for the program, and your employer might offer financial assistance, too. While your premiums may not decrease until you’ve been smoke-free for two years, now’s a great time to get started.

Smoking is costly both in dollars and in your quality of life. Commit to quitting on March 14. For more tips, talk to your doctor and insurance agent. And mark March 14 on your calendar as the day you quit smoking for good.

March is here, and it’s a popular month to visit tropical locations or start planning your next getaway. To get a jump on your tan, you may schedule a few indoor tanning sessions. However, your risks of getting cancer increase when you use indoor tanning salons. Stay safe when you consider several tanning safety tips.

Take Melanoma Seriously

The Memorial Sloan-Kettering Cancer Center in New York City found that 54 percent of college students who tan don’t see it as significantly risky. They argue that many things cause. No one’s immune to cancer, though, and indoor tanning actually increases your chances of getting melanoma by 90 percent if you’re under 35.

Melanoma is serious. Even a small amount that’s roughly three grains of salt deep can spread to your lymph nodes and other organs. If that happens, your risk of dying from melanoma increases to 85 percent. Think about your future before you hit the tanning bed.

Protect Your Skin

Squamous and basal cell carcinomas are two common non-melanoma cancers. They don’t spread as fast as melanoma, but they can create skin scars that last the rest of your life.

Indoor tanning also produces sun spots and wrinkles and can damage the retinas in your eyes. These effects of tanning do not disappear as you age but do continue to affect your appearance and health.

Resist Peer Pressure

Women especially have a huge need to focus on their appearance. Tanning can help you fit in with your peers and look attractive. Giving in to peer pressure can also kill you.

Use Exercise and Fashion to Change Your Appearance

Golden-brown skin hides cellulite bumps and can help you look thin. Toning exercises produce the same results, though, and don’t include a cancer risk.

You can also wear clothing that complements your figure, shape and skin tone. Talk to your hairdresser, too, about the right hair style and accessories for you.

Understand the Addictive Risks of Tanning Beds

Even after being diagnosed with skin cancer, researchers find that some dermatology patients continue to visit the tanning salon. Those individuals try but are unable to cut back on their visits and avoid family, friends and hobbies to visit the tanning salon. Be aware of the addiction risk of tanning before you get started.

Despite the risks, you may still choose to tan. If so, use a reputable salon. The staff will evaluate your skin tone and recommend the right amount of tan time for you. Read the waiver, too. It outlines tanning risks.

Tanning is dangerous. Proceed with caution as you prepare for your next tropical vacation. For more safety tips, talk to your doctor.

When you buy a life insurance policy, you do so because the policy’s death benefit will provide financial support to your loved ones. That’s why you choose a beneficiary. Ensure your wishes are met and your loved ones are taken care of when you understand what a beneficiary is and then decide who that will be.

Beneficiary Defined

A beneficiary is the person or entity who will receive the death benefit of your life insurance policy after you die. If your term policy includes a $300,000 death benefit, for example, your beneficiary will receive $300,000 if you die before your policy matures. If you don’t make the choice, your estate will make it for you.

Whom can you Choose as a Beneficiary?

You have options about who can be your beneficiary. Most people choose their spouse, child or other relative who depends on them for financial support. You can also choose a friend, caregiver or more than one person to receive your death benefit.

A trustee can also be chosen to receive your life insurance death benefit. That person oversees your estate and ensures the death benefit is handled appropriately.

An entity can also be a beneficiary. Your favorite charity, college or cause can be the recipient of your life insurance death benefit.

The Levels of Beneficiaries

You can choose between two levels of beneficiaries, primary and contingent. The primary beneficiary receives the death benefit attached to your life insurance policy after you die. If the primary beneficiary has also died, the contingent beneficiary receives the death benefit. Your estate receives the money if neither beneficiary is alive.

Specify the Beneficiaries

When choosing a beneficiary, include as much detail as possible, such as the person’s full name and social security number. This step can ensure your wishes become reality and reduce conflict over who receives the money. As an example, if your beneficiary list includes “wife” but you get a divorce after your policy is issued, both your current and former wives can claim the insurance policy at the time of your death.

You should also be clear about how your death benefit is dispersed. For example, you may wish to give your primary beneficiary the full amount but split the death benefit in half between two contingent beneficiaries. Be as specific as possible to assist your survivors in fulfilling your wishes.

Your life insurance policy is a wise investment. Understand beneficiaries as you choose who will receive the money from your policy after you die. Update your policy often, too, to ensure your wishes are met. Your insurance agent can provide additional assistance as you handle this important detail.

Life insurance provides financially for your loved ones after you die. It’s not sold on store shelves, but you have several options for buying a policy that meets your needs.

Single-Company Agent

A single-company agent sells life insurance from only one company. He or she meets with you to discuss your needs and then provides policy options. Typically, the agent is paid by commission that’s loaded into the premium’s cost. With this option, you always talk to a live agent. However, you’ll need to do your homework to make sure you’re getting the best available price and coverage.

Broker

A broker offers life insurance from several different companies. You’ll share your financial needs, and the agent will check the database for the company that best meets your needs. This purchasing option increases your ability to choose the most affordable policy and comprehensive coverage for your needs.

Fee-Only Advisor

A fee-only advisor sells insurance from one or multiple insurance companies. He or she does not receive a commission on sales, so you may experience less pressure to buy. Since fee-only advisors are not typical, do an online search for “no load life insurance” if you want this option.

Employer

As a perk for employees, your employer may offer group life insurance. It’s usually a term policy with a low death benefit, and the premiums are subsidized by your employer or deducted from your paycheck. If you leave your job, you may convert the term policy to a whole life policy with the company that issues the insurance. Consider this option if you are older, experience health problems or want an extra policy just in case.

Organizations

Your labor union, trade group, college alumni association or auto club may also be an option for group life insurance. The policy will be a term policy with a low death benefit that’s beneficial if you need an affordable option because of your age or health.

Financial Institutions

Your bank or credit union may offer life insurance for minimal cost. The death benefit is usually low, no medical exam is required and you can assign any beneficiary you want.

Financial institutions and credit card companies also sometimes offer life insurance solely to repay an outstanding loan with the institution. It may be included in the loan at no additional cost, or you may have the option to buy the coverage for an additional fee. Compare the cost of this policy and your assets before signing up.

Life insurance is a wise investment. You have several options when purchasing a policy, so do your research as you decide where to buy valuable life insurance.

Life insurance provides financial compensation to your loved ones after your death. Your policy is not like a slow cooker where you set the timer and walk away, though. You’ll need to reevaluate your policy when six life events occur.

Get Married

When you get married, your spouse depends on your income and contributions to the home. Take a look at your insurance policy. Is the death benefit adequate for your life partner in case something happens to you? Update your policy or purchase a secondary policy, and make your spouse your primary beneficiary of the benefits. You can also purchase a life insurance policy for your spouse as you give him or her peace of mind.

Have a Baby or Become a Primary Caregiver

Add a baby to the family, adopt a child or begin caring for an aging parent, and you now have another dependent who relies on you for support. Life insurance benefits help to pay for expenses associated with dependent care. In addition to ensuring your policy provides adequate financial assistance, consider making your dependent a secondary or contingent beneficiary on your policy.

Buy or Sell a House

Mortgage payments are probably a significant portion of your monthly budget. Could your surviving spouse pay the mortgage and other household expenses without your income? Make sure your life insurance policy covers the mortgage repayment if you die before the house is paid off. If you downsize or repay the mortgage, consider cancelling the policy if you no longer need it.

Incur or Pay Off Significant Debt

Student loans, credit card bills and other significant debts put a damper on your monthly budget. Repaying those expenses could also affect your survivors. Ensure your life insurance policy covers any significant debt repayment as you care for the people you love. Once the debt is repaid, you can decide if you wish to keep or cancel the policy.

Experience Income Changes

Lose a job, switch jobs or get a large raise, and you’ll also want to check your life insurance policy. Make sure it provides adequate resources to replace your income. Ideally, your policy should be at least five-to-10-times your annual salary.

Begin Planning for Retirement

As you begin planning for your future retirement, remember to update your life insurance policy. The benefits can assist your surviving spouse in maintaining his or her current lifestyle, traveling the world or covering nursing and medical care. With it, your spouse has peace of mind and financial security even during the retirement years.

Life insurance provides peace of mind. Regularly evaluate your policy with your insurance agent to ensure it meets your needs.