Two Locations To Serve You
Auto Quotes
Homeowners Quotes

Life Insurance Quote
AGQUICK

Archive for the ‘Life and Health’ Category

Carefully Designate Life Insurance Beneficiaries to Avoid Challenges

18 03 LH Carefully Designate Life Insurance Beneficiaries to Avoid Challenges - Carefully Designate Life Insurance Beneficiaries to Avoid Challenges

Many people get life insurance. And one of the biggest mistakes they make is in picking beneficiaries. You are free to name nearly any person as your beneficiary. For most individuals, it’s usually a close family member. Nevertheless, you could select any type of competent person and even an entity, such as a charity.

Beneficiary designations can be made by naming specific individuals or entities. Use complete names to prevent confusion. You can be more certain by describing birth dates or social security numbers… or for charities… their Federal Tax Employee Identification Number.

You can name many beneficiaries to receive equivalent or unequal shares. For multiple beneficiaries, utilize percents instead of real dollars. Dollar amounts can create confusion, particularly if the life insurance policy has a value that fluctuates.

You may also choose a trust fund as a recipient. This can be useful in benefiting minors or handicapped persons. Your main beneficiary will certainly always get policy proceeds initially. If this is a person, she or he must be alive when you die. If that specific recipient is deceased, the plan continues to your next recipient.

Therefore, it is necessary to identify one or more contingent beneficiaries. If you and your key beneficiary pass away at the same time, your key beneficiary is presumed to have actually passed away first. Consequently, if there were no contingency plan, you would not have a named recipient. The life insurance would go to your estate. Having appropriately named beneficiaries prevents having your life insurance policy proceeds from traveling through your estate. This could protect against possible inheritance tax in addition to probate expenses.

For minors, you need to be particularly careful in stating beneficiaries. You should designate life insurance proceeds to a custodian for the benefit of minor beneficiaries.

Also, make certain to review your recipient classifications on a regular basis and if needed, make revisions because of marriages, divorces, births, and fatalities.

It is important to focus on two primary objectives in selecting beneficiaries: ensure your designations accomplish your objectives, and avoid unnecessary legal debates and taxation.

If you have life insurance questions, we have answers! Be sure to reach out to learn more about properly structuring life insurance to meet your specific needs.

Tips on How to Save on Life Insurance Premiums

Tips on How to Save on Life Insurance Premiums - Tips on How to Save on Life Insurance Premiums

Estimating Insurance Coverage Requirements

No matter whether you’re single or wedded, you’ll have to find out your expenditures, and also prepare for the future.

If you have dependents, you must get adequate insurance to change the revenue you currently generate for them, as well as compensate for any type of extra expenses they may sustain to replace the services you presently supply.

Although there isn’t really any specific formula to estimate life insurance policy needs, a fast and standard method to get a harsh quote is to take your yearly revenue and also increase it by 7.

An additional trick is that your strategy should adequately replace the “concealed earnings” that would be lost at fatality. Covert earnings is earnings that you obtain with your employment that isn’t part of your gross salaries. It consists of things like your company’s payment to your medical insurance costs, the matching contribution to your 401( k) strategy, as well as several various other “perks”.

You must likewise plan for expenditures that emerge at fatality. These include funeral costs, taxes as well as management expenses connected with “winding up” an estate and also passing the residential property on beneficiaries.

Do you have sufficient Health Insurance?

Many employers provide medical insurance to their workers. But also for others, it is up to them to offer their own health insurance. In either case, you may not have sufficient coverage for costly clinical expenses. Ideally, you need to make the effort to analyze your medical insurance strategy to establish if you should buy a lot more, alter your policy, or even minimize what you have.

Medical insurance plans vary from one company to an additional. Some require that you check out only authorized medical professionals and clinical centers for your needs, while others enable you to decide what is right for you. An increasingly prominent selection is wellness savings accounts that permit people to place money away each year right into authorized accounts to spend for their clinical expenditures. Any type of approach that you choose is better compared to having no clinical coverage.

Private health insurance plans are available to help you identify exactly what your needs are, and also to shield your health and wellness which of your family members. Such strategies likewise enable you to choose the physicians you wish to see. To have medical coverage in times of demand is valuable certainly, yet to have complete control over your policy is an added benefit!

If you do have medical insurance, spend time in recognizing just how it functions, and what it can supply you. You should know which medical professional you could see, as well as if you require approval for unique brows through. It is additionally essential to recognize what does it cost? of your medical expense is paid by the insurance plan. Some supply only 80 percent while others will not include prescription medications. Talk with your insurance policy representative today to identify just what medical insurance plan will finest fulfill your demands.

Temporary or Lasting, which one to get?

If you are unable to select the term of health insurance, you should have a clear image of the benefits of both in order to select tenure. A temporary medical insurance plan is right for those who are currently living in the United States, waiting on another strategy or between work. It is likewise ideal for those without any kind of medical wellness protection, and pupils who have actually simply graduated. The tenure of cover of a short-term health insurance policy ranges from one month to a year.

If you feel that you need an insurance coverage for greater than a year, it would be useful to take a look at other individual/family health insurance policies. A lasting treatment health insurance plan helps cover health care services utilized by insured clients that have actually prolonged health problem or special needs. Lasting treatment solutions also cover regular tasks like assistance in bathing, clothing, and also dishes. Neither Medicare nor Company Health Insurance covers these solutions. While long-term care insurance coverage do spend for such kind of services, they are expensive. Before you purchase such a plan, make sure that you could pay for to pay the costs currently as well as later.

Group Medical Insurance– Exactly how it works

A team medical insurance policy is insurance coverage applied by the company with an insurance company. The employer typically pays a part of the costs of the group medical insurance plan. A team health insurance policy offers a company the advantage of not paying the whole premium for the insurance plan in order to cover his employees. The best way to obtain group medical insurance is to get a quote from different firms as well as locate the one that best suits your business and also your workers.

Can Group Insurance policy be categorized under tax incentives?

Team medical insurance is tax deductible. Offering medical insurance to workers has many advantages. Not just are workers better, yet likewise they are less most likely to switch work.

Which Life Quote is right for me?

A life insurance policy shields your household financially if you or your spouse dies. Insurer comprehend that life is constantly transforming, so there are a selection of life insurance plans to fulfill your altering needs. Because many households depend on two incomes simply to make ends meet, insurance provider provide plans that can insure greater than someone, shielding the total family members earnings.

It is never prematurely or far too late to think about your life insurance policy alternatives. There are 2 major kinds of life insurance policy– term as well as entire life. Entire life is occasionally called permanent life insurance policy, and it inclusives several sub-categories, including conventional whole life, universal life, variable life and also variable global life. Term life insurance supplies monetary security for a restricted and specific time period, at a reduced expense than irreversible life insurance. These policies end without worth if the insured endures the stated period. Universal life insurance policy gives survivor benefit as well as income tax-deferred cost savings to assist you satisfy your economic goals while you are living. It has several adaptable functions and benefits that can transform with your changing financial demands. Whole life insurance provides the protection amount to your recipient in case of your death, in addition to cash-value financial savings you could use throughout your lifetime.

Variables you need to take into consideration before purchasing Medical insurance

Prior to acquiring your medical insurance coverage, you should consider these elements:

-The integrity of the insurance company. Does it deal with individuals relatively? Does it pay cases immediately? Does it have adequate team to answer your inquiries and resolve troubles?

-Most insurance coverage require you to cover part of your health and wellness expenses on your own (your part is called the “insurance deductible”) prior to the company pays anything. Under some policies the insurance deductible is yearly, and you pay just as soon as every year if you make use of the insurance. Under others, you pay the deductible each time you have a disease or injury. In selecting insurance policy, you should believe very carefully regarding just how much you could pay for to pay out of your own pocket each time you are sick or damaged, as well as consider the insurance deductible against the premium prior to you decide.

-Usually, after you have paid the deductible, an insurance plan pays only a percent of your medical expenditures. The plan might pay just 80 percent; the staying 20 percent, for which you are responsible, is called the coinsurance or co-payment.

-Some policies state specific buck limitations on what they will certainly spend for particular solutions. Various other plans pay “typical” or “affordable” costs, which indicates that they pay exactly what is typically butted in the town. Be really mindful in reviewing plans with specific buck restrictions; for significant health problems, the limit might be far too low and you might have large clinical costs not covered by your insurance policy.

-Some insurance plan placed a time frame on health problems and also injuries. In that case, after the advantage duration for a problem has run out, you need to pay for proceeding the treatment of the disease on actual expense basis, even if you are still insured by the firm.

-Lots of insurance policies do not cover pre-existing conditions. If you get here with a condition that will require medical focus, validate the pre-existing facet of the plan that you are examining.

Carrying Enough Life Insurance?

17 01 LH Carrying Enough Life Insurance - Carrying Enough Life Insurance?

The success of a financial plan may rest on selecting the right life insurance policy. The best-laid plans can be shattered by the unexpected. If a spouse passes away, or both parents perish, the financial fallout can be significant. Perhaps due to its nature, life insurance is a topic many attempt to steer clear of when creating a financial plan. Beyond that, most people are optimists experiencing difficulty imaging a life insurance policy becoming necessary. While it may be a challenging topic to approach the alternative can be unsettling.

Each day, people face life-changing circumstances. A recent story about a middle-aged family man (with two children) passing away from cancer gave me the chills. Lacking further information about the family’s financial situation, I had to wonder if there was a financial plan in place. We all want to live to old age, yet there are those facing situations like this all the time.

Chances are, this family was like many others. Planning for the future, raising their family, and working hard to make it all happen. At that age, most imagine death years away, long after retirement and growing old together. That all changed with a diagnosis. Within months, the father had become increasingly ill until passing on, leaving a wife and kids behind. Left without an income, parent, and spouse they are left to pick up the pieces.

There are several scenarios which may come to be depending on life insurance coverage. Either the husband lacked coverage, lacked sufficient coverage, or had adequate life insurance protection.

Lacking coverage. Were the husband to pass away without any life insurance coverage in place, the remaining family members may face dramatic changes. Depending on different factors the family may be forced to relocate, take extra employment, and children may be separated.

Insufficient coverage. There is the possibility the husband had life insurance, yet lacked sufficient coverage to match his family’s needs. This can often occur with employer insurance plans. The family may remain stable, yet dramatic lifestyle changes are likely to follow. Lacking enough income, debt may begin to mount.

Sufficient coverage. With sufficient life insurance coverage, life can return as close to normal as possible, following tragedy. Sufficient coverage will adequately satisfy mortgage obligations, other debts, and will enable children to achieve a college education. While the passing of a loved one is unthinkable to bear, a plan in place for continuity can alleviate at least a portion of the worry.

Comparing these three possible scenarios, it’s simple to see the best alternative. Immediate savings today may lead to long-term woes for surviving family members. The same is true for disability insurance and long-term care insurance. Families rely heavily on incomes and when those are threatened, the results can be tragic. A plan in place can help with facing the loss of a loved one. Call today for more information on life insurance and taking care of your loved ones.

For more information on life insurance policies call today. Life insurance can be utilized as a vehicle for retirement savings as well. Call for more details. Visit often for more ways to preserve wealth and plan for the future.

An Apple a Day…

An Apple a Day... - An Apple a Day…

There is something about fall and apples. Apple cider, apple pie, and the most fun of all: apple picking. Apples are full of delicious potential, yet the old saying about ‘an apple a day’ may be truer than most realize. Reduce visits to the doctor with these three great benefits from eating more apples:

1. Apples may help with weight loss.

A medium-sized apple has somewhere around 95 fiber-rich calories (around 18% the recommended daily value). Apples are more-filling, boasting a high water content. Fruit and vegetable flavonoids have been linked to a host of health benefits. The flavonoids in apples are strongly-correlated to helping with weight loss.

2. Apples may reduce cancer risk.

Research at Cornell found several substances within apple peels which inhibit cancer growth or in some cases, eliminate cancer cells completely. The study found strong relationships between apple peels and anti-cancer activity in the liver, colon, and breast. A number of other medical studies connect apple consumption to reduced risk for cancer.

3. Apples may reduce diabetes risk.

Multiple studies indicate a connection between apple intake and a reduced risk of type-two diabetes. This may be due to high levels of antioxidants found in apples. In China 2017, a study of 500,000 people found those eating daily fruit (mostly apples) were 12% less likely to develop type-two diabetes compared with those that never or rarely consumed fruit. Apples also contain quercetin, a plant-pigment aiding the body regulating insulin and blood sugar.

Apples, when combined with a healthy diet and lifestyle can help improve health and energy levels. Drink plenty of water and always consult a health professional before beginning a diet or exercise regimen. Agents are available to answer any insurance questions. Check back often for more on healthy and happy living.

Getting Insurance to Cover Rehab

11 05 LH Getting Insurance to Cover Rehab - Getting Insurance to Cover Rehab

Parity legislations such as the Paul Wellstone and also Pete Domenici Mental Health And Wellness Parity and Addiction Equality Act of 2008 need team medical insurance intends to cover mental wellness and also chemical abuse problems similarly as the strategy covers clinical problems. However it can be hard to guarantee that a patient has actually the insurance coverage needed for healing, claims Elizabeth Hill, scientific supervisor of the Blake Recuperation Center at Provider Facility, a psychological and also behavioral health and wellness treatment center in Belle Mead, New Jersey. Insurance provider frequently include fine print, which covers the therapy just if medically necessary– a condition that could be subjective, relying on the viewpoint of the healthcare carrier, she states.

Yet substance abuse among grownups age 50+ is projected to increase from the 2.8 million annual standard in 2006 to 5.7 million people in 2020. That makes insurance coverage of dependency concerns a matter of enhancing seriousness.

To make sure the very best possible insurance coverage under your existing strategy, right here are 7 necessary actions.

1. Inspect Your Plan. The concern of precisely just what is covered begins with the insurance policy itself, so be sure to obtain a hold of your plan or advantages publication and also read it meticulously, claims Dr. Fred Berger, clinical supervisor of the Scripps McDonald Facility in La Jolla, California. Policies may have in-network and also out-of-network advantages, which are covered at different degrees depending upon an insurance firm’s contracts with various centers. On top of that, some facilities might not accept insurance policy, yet need payment ahead of time, leaving the client to seek compensation from the insurer. Berger includes that Medicare protection of inpatient detoxing programs “is normally very good.”

2. Understand Therapy Alternatives. Not all treatments are just as reliable– or just as covered by insurance strategies, states Mandie Conforti, LCSW and a consultant at Towers Watson, a personnels and take the chance of monitoring working as a consultant in Chicago, Illinois. Before taken care of care came to be widespread, she says many people would certainly choose extended, completely compensated stays in treatment facilities in The golden state or Florida. Nonetheless, managed treatment firms began wondering about that method, considering that the triggers for relapse are often in the house. Because of that, she states, numerous cover outpatient therapy that overviews patients through the tests of continuing to be substance-free in their home setting. Hospital-based treatment programs could be covered differently from property therapy programs, as well, she claims. Ultimately, make certain to inquire about and follow any type of demands for authorizations, pre-certifications, or references.

3. Note Underlying Conditions. Typical underlying clinical problems, such as hypertension, cardiovascular disease, or persistent discomfort might add expense and also risk to chemical abuse therapy, and they have to be consisted of in the treatment program, says Berger. Depending upon the scenario, those underlying concerns might require more extensive therapy than would certainly otherwise be required, he states.

4. Maintain Records. Jot down dates and information of discussions with your insurance provider prior to as well as during treatment, as well as the name and, preferably, the title and also various other determining details of any agents, says Linda Schmidtt, head of state of Physician Solutions, a medical invoicing business in Richardson, Texas. Ask the center for a made a list of listing of expected costs and ask your insurance company for a duplicate of the authorization letter. Likewise, ask your medical professional for a checklist of medical diagnosis codes for any conditions that will certainly be treated, she states. By gathering as much detail as possible, people have paperwork to counter any conflicts by the insurer.

5. Collaborate with Your Team. A person combating dependency is typically not in the most effective mindset to keep abreast of information as well as fine print, says Berger. Enlist a member of the family or friend in order to help you browse the process. On top of that, he states, collaborate with your doctor as well as the team of the therapy facility, who often have sources to validate insurance policy protection and also create the best possible treatment protocol for the protection you have.

6. Speak Up. Hillside locates that numerous patients are so excited to get far better that they under-report their signs, claiming they really feel far better compared to they actually do. When development is communicated to the insurer, the size of keep or therapy may be minimized.

“Older individuals are extra suitable to not want to be a bother, but we can only report exactly what you say. So, it’s extremely important to be as truthful as you can be regarding exactly what you’re really feeling,” she claims.

7. Know Your Rights. If your insurance claim is refuted, it’s not the end of the road, states dependency therapy veteran John Lieberman, that is currently the supervisor of operations at Visions Teen Therapy Center in Malibu, The golden state.

“If you get denied, the insurer should also tell you or send you a letter mentioning exactly what the next [step for appealing] is,” he says. “You could ask for a further review. You can have your health care physician make the telephone call to make a further request,” he states.

If such call does not yield results, Lieberman encourages consulting your state insurance policy commissioner’s office, which governs the insurance policy industry in each state. (Locate your state’s.) You can likewise call your state Attorney general’s workplace. Doing so can be an efficient means to shield your rights and also insurance coverage, he states.

Are You a Parent? 5 Things to Know About Life Insurance Now

10 10 LH Are You a Parent 5 Things to Know About Life Insurance Now 1 - Are You a Parent? 5 Things to Know About Life Insurance Now

Parents want the best for their children. Creating a future for kids takes effort and for single parents, the responsibilities increase. Should the unthinkable happen, children have needs. Life insurance plans alleviate anxiety for the future but single parents have more to think about when shopping insurance policies. Coverage, pricing, and more all change for single parents. Eliminate uncertainty. Gathering the right answers beforehand helps determine the right life insurance policy. For single parents making the decision about life insurance these pieces of information help determine the coverage amounts and the right policy choice:

1. Speak to Caregivers

The first thing is determining caregiver options for children. Selecting a legal guardian creates a definitive plan for the care of children. Capabilities, assets, and opportunities vary per caregiver situation. Caregivers may be peers to parents and anyone in-between. The right policy covers expenses realistic to each case. Speak to caregivers early and learn to plan for later.

2. Think about the Children

The right policy includes planning for child age and personal needs. Parents of younger children may wish for more coverage to cover longer lengths of time. Parents of older children may have school or college expenses to plan for. Many policies may be amended, adding coverage later on.

3. Understand the Finances

The right policy extends coverage beyond immediate costs, closing out personal debts as well. Things will already be difficult for the children, adding debt and expenses only serve to complicate things. Organizing personal debts beforehand and finding sufficient coverage helps children cope with their immediate situation, and the future moving forward.

4. Add Everything Together

Experts recommend multiplying annual salary by 7 to create base coverage amounts. This means life insurance policy coverage for a single parent with an income of $40,000 begins at $280,000 and grows from there. Caregiver options, future plans, and personal debts additionally factor in determining the right amount of life insurance coverage. This may sound like a large number, but life insurance policies are affordable through the right insurance carrier.

5. Shopping for Life Insurance

It is easy to overestimate the cost of life insurance. Policy amounts sound large yet policies are often much more affordable than first suspected. Planning a life insurance policy around children means choosing policies for the right amount of time. For parents of children leaving the home in several years, long policies may be unnecessary. Coverage for the proper amount of time helps limit overall cost. With the right planning and forethought, life insurance policies can cost as low as $50/month. Speak to an agent today about finding the right life insurance coverage. Having a plan for the future helps keep the focus on today.

Insurance topics have bearing on finances, decisions, and healthy living just to name a few. Have any topics to suggest? Send any topic suggestions or insurance-related questions on over!

Special Considerations For Women Ready to Retire

10 02 LH Special Considerations For Women Ready to Retire - Special Considerations For Women Ready to Retire

Women have more to think about planning for retirement. On average women live longer lifespans than men. Men reaching age 65 have an average life expectancy of around 84.3 years. Women reaching the same age can expect over two extra years, reaching average lifespans of 86.6 years.

As a woman there will likely be living expenses well over age 80 and beyond. Women planning for retirement must prepare for 20-30 of living expenses or more. The following steps add value to any retirement savings plan.

  • Know all the basic living expenses. Preparing a budget means knowing annual expenses. This helps determine the amount of income necessary for each year of retirement. With the basic expenses covered there is more time to experience the joys of retirement.
  • Use pensions. Women with pension plans may have advantages over men. A consultant with Macro Consulting Group says women may actually receive larger lump-sum payments than men. This is because many plan payout calculations favor women. Lump-sum payouts can be reinvested in more profitable markets.
  • Seek alternative income sources. Untouched savings accounts generate money for later expenses, or for leaving an inheritance. Pensions, social security, and other sources create a mix of income allowing savings to grow.
  • Check legal paperwork. Married women listed as primary recipients of a spouse or partner’s pension want to make sure all legal and insurance paperwork is in order. Traditional plans cover basic survivor payouts, reducing the spouse or partner’s payout during their lifetime. Couples may fare better agreeing to a lump sum payout and reinvesting in life insurance.
  • Put the brakes on Social Security. Retirees thinking of living off Social Security benefits may want to consider waiting. Social Security benefits left alone until age 70 pay higher monthly amounts. Retirees waiting until age 70 qualify for delayed-retirement credits, increasing monthly Social Security payments.
  • Watch for lump sum Social Security payouts. A payout for uncollected benefits may cost delayed-retirement credits. Social Security may offer attractive lump amounts for uncollected payments beyond age 65. Read the fine print. According to a partner at Plaza Advisory Group in St. Louis, Social Security lump payments have a price. Delayed retirement credits are exchanged for lump sums, meaning lower monthly payouts.

We are always on the lookout for insurance topics and information impacting health, wellness, and pocketbook. Have any insurance related questions? Be sure to reach out for answers.

Investing Via Life Insurance?

09 10 LH Investing Via Life Insurance - Investing Via Life Insurance?

Life insurance policies exist to provide a layer of financial security for the beneficiaries left behind. Policies are generally built around paying a minimal installment for the greatest payout. The payouts enable beneficiaries to navigate financial hardships following the passing of loved one, friend, or colleague. Life insurance policies can provide the immediate funds to overcome these challenges. Some of the burdens beneficiaries may face are:

  • Equalize an Estate. Policy payouts can equalize the balance of an estate. In cases where a family business exists but not all family members take part, policies can help balance estate value. If the deceased donated considerable sums to charitable organizations, policies can help compensate estate accounts.
  • Pay Estate Taxes. Estate taxes can cripple those without access to liquid funds. A life insurance policy can provide immediate funds for payment of the estate tax.
  • Facilitating Business Succession. Business partners listed on a policy may use life insurance payouts to buy company shares or stock from the estate of a deceased partner.
  • Replacing Essential Staff. Life insurance plans can help businesses cover expenses associated with the loss of a key employee.

Term and Permanent Life Insurance: A Breakdown

You can select between two life basic insurance policy options: term and permanent life insurance. Your own objectives will help determine which is the best policy for you.

Term Life Insurance

* With term life insurance, contributors pay a fixed amount into the policy for a set period of time. Payments made into a term life policy count as expenses that may or may not return any value. If the policy is not used within that time it will become void.

Permanent Life Insurance

Permanent life insurance policies offer up to lifetime coverage, depending on the policy. Permanent life insurance policies have a major benefit over term life policies. The payments made on a permanent life insurance policy create a cash value for your policy. This turns a life insurance policy into a vehicle for investment. With the right language on your policy, the cash value of the policy will be subject to the same taxation as a 401k or Roth IRA plan.

Permanent Insurance: Advantages over 401k/Roth IRA

Permanent life insurance plans offer considerable advantages for investing over Roth IRA plans. Both use after-tax dollars to grow, but permanent life insurance policies place no limit on the amount (so long as other policy requirements are met). Permanent life insurance plans do not place restrictions based on income. Perhaps of most value to those retiring younger – permanent insurance plans will not penalize for withdrawals made before age 59 1/2.

Candidates for investing using permanent insurance plans include all walks of life. Permanent life insurance plans offer tax-smart places for investing income. These policies offer a place to invest for those unsure about the stock market. They can be an alternative for costly bonds. If you’re interested to see how you can create value and invest using life insurance, contact your advisor today.

The current world has many insurance related issues and topics that affect our finances and health. Such issues play a pivotal role in our lives. If you have any information regarding such topics, please feel free to share with us. We are happy to help you tackle any life insurance questions or any insurance-related questions you may have.

Have a Student Loan Consider Life Insurance!

09 02 LH Have a Student Loan Consider Life Insurance - Have a Student Loan Consider Life Insurance!

Many recent graduates are usually weighed down by thousands in college loans. In fact, about 40% of students usually owe over $20,000 after graduating! That’s double the figure a decade ago. This is based on a report recently released by experts from Consumer Security Bureau. These experts calculate the number of students owing loans over $50,000 has more than tripled. That’s based on growth from 5% to 16% over that period. Students have their whole lives ahead of them – or so it seems. Sometimes, tragedy occurs and those loans are passed on to grieving family members. Plan for the future to avoid extra pain. Students should consider life insurance plans to cover their student loan expenses.

Who Pays for the Loan

Betsy Mayotte, director at the Consumer Outreach and Compliance for American Trainee Aid, says the financial obligation on the student’s loan must be upheld. This has to be the guarantor or cosigner in the event that the student passes on. Ms. Mayotte notes that unfortunately, parents and guardians of students rarely consider student loans and life insurance together. In the event a student passes on, cosigners must take charge of the loan payments. Usually, this means the entire outstanding amount of the loan. Mayotte claims spouses are also often made to pay outstanding student loans for deceased partners. This happens even when spouses did not cosign. Spouses may be called upon to meet the obligation of other loans their partner sustained throughout the relationship. This danger can be avoided.

With the right life insurance plan, you can avoid repayment of student loans for the deceased. According to John Ryan, Principal of Ryan Insurance Coverage Method Professionals, these policies are quite affordable. Ryan contends it is quite sensible to do so, even if young people are not at a high risk of death under normal circumstances. Insurance companies know there is low risk involved; policies are thus affordable. For example, a $250,000 insurance plan with a maturity period of 10 years, taken by a 25-year-old student, costs only about $100 per year.

The Right Life Insurance Policy

To determine your coverage, analyze the terms on offer. This will help you know what to expect in the event of your death. Federal student loans are usually written off in the event of student death. The same applies even to cases where the parents or guardians of the student sign for the loans. Outstanding amounts can still attract tax attention. According to Ms. Mayotte, co-signers may still have to face some level of financial obligation – whether the loans are written-off or not. Mr. Ryan contends that some, though not all, financial institutions may write off the debt if students are handicapped or die. It is you to scrutinize the terms of financing from your institution to understand exactly what will happen in case of death.

Should you determine life insurance coverage is necessary to cover the debt, find a policy covering the whole amount for the whole term. This is according to CFP Carrie Jones – an insurance expert with Life Planning Partners in Jacksonville, Florida. Jones advises a single policy, stating it’s cheaper to protect a $50,000 loan instead of splitting the amount into two separate $25,000 policies. This is true even while over time, loans diminish as students repay them. Taking a one-time policy works out to be cost-effective in the end. Some life insurance providers allow policyholders to reduce their coverage many times over the policy term. According to Ryan, it is important to ask about this while talking to insurers.

Getting Things Right

Carries Jones says the parent, guardian or otherwise co-signer of the student-loan should be named the beneficiary of the life insurance policy. This protects co-signers in the event students fail to keep up with loan payments, cancel the plan, or die. Life insurance plans can be transferred back over to the graduate, should the need occur. If the worst happens and a student passes on, co-signers should ask their insurance provider about their options for compassionate review. In some cases, this can help erase the balance of the loan. This is not guaranteed. Ms. Mayotte holds life insurance is the best way assure loan co-signers are not left in a tight spot if the student were to die.

We welcome any insurance information that relates to your health and finances. If you have any insurance topics or ideas please feel free to share with us. We are also ready to provide answers for insurance related questions. Contact us for help.

How to Think of Exercise as Fun

08 12 LH How to Think of Exercise as Fun - How to Think of Exercise as Fun

The best way to ensure you meet your daily exercise goals is to want it. When we’re motivated to succeed, we’re much more likely to accomplish our goals. It’s the difference between waking up refreshed, and waking up exhausted. This applies to almost our entire lives. An enjoyable workday goes fast, but the opposite can make time stand still. Things are easier and much more rewarding when they are enjoyable.

Exercising can be an exciting addition to your day or something you spend all day dreading. How you choose to approach your workout will help determine your experience and your rewards. You’re more likely to continue working out if you enjoy it. Something you do often is more likely to become a habit. If you want to make exercise an easy and fun part of your life, find an exercise you enjoy.

Enjoy the outdoors? Find a sport or activity in your area. Many exercise options exist outside the gym, giving you a great excuse to be outdoors. If you’re an indoor enthusiast, gyms have regular and specialty equipment to attract many different types of people. Other activities such as indoor rock-climbing, yoga, and swimming can help you find something you enjoy. The ultimate goal is to find a form of exercise you enjoy. When you enjoy something it’s much easier to find the time.

When you look at the pool of exercise options to choose from, there’s nearly something for everyone. From a health perspective, activities combining strength, cardiovascular, and balancing exercises are best. Depending on your preferred exercise methods, this may require you to include multiple in your routine. A balanced combination will aid in your body’s development and capability.

Few people are professional athletes. For most of us, exercise will sometimes push us to the limit. It’s important to stay focused to develop and maintain healthy exercise habits. Trying new exercises and activities can help you stay excited about working out. Your body doesn’t know the difference between working out in a gym and working out doing something else you enjoy. What matters is that you get your body moving. How YOU think about it does matter.

When you approach exercise excited and motivated you’re more l going have the best chance to get the most out of your workout. Look at it like a chore and you’ll start to find reasons to avoid it. Enjoy it and you can easily build a habit and lifestyle incorporating exercise into your daily life.

We are always looking for great info for helping you maintain a healthy body and healthy bank account. Have any insurance-related questions? Give us a call!