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Enriching your life; informing your health. Life insurance, and other topics.


5 Important Questions You Should be Asking Your Life Insurance Company
5 Important Questions You Should be Asking Your Life Insurance Company
Life insurance is an important step in preparing to care for your family in the event that you pass away unexpectedly, but it's completely normal to have questions. In fact, it's encouraged. 

Approximately 86% of surveyed individuals reported that they believe most people require some amount of life insurance, but they may not know what questions to ask a life insurance company. Here are a few important questions to get you started. 

Why should I buy life insurance? 
The short answer is to provide for your family after you pass away, but if your employer already provides life insurance it may still seem odd to purchase more. The biggest reason in that case to purchase more life insurance is that your policy might not transfer between jobs, which isn't good. A personal policy ensures that you're covered no matter what. 

Will I be covered with disabilities? 
Most insurance policies have a number of optional benefits, or riders, that can be added to a plan. One of these is usually a disability rider, which makes sure that you will still be covered in the event that you become disabled due to an accident or an illness. 

Do I need a medical exam? 
Whether or not you need a medical exam really depends on the insurance policy your purchase. Some life insurance companies will require a medical exam before you can get coverage while others might not require an exam at all. It's important that you always ask your life insurance company about this. 

How much life insurance do I need? 
The amount of life insurance varies on an individual basis. You should pick a policy depending on your personal needs and the needs of your family. But if you're concerned about numbers, you should take your potential medical bills, children's education, retirement, and a multitude of other factors into account to help you decide just how much insurance you'll need. 

Life insurance is incredibly important, especially if you're concerned about your family's well-being. It's the best way to ensure that they'll be well-provided for after you pass away.

Family First: 3 Important Things You Need to Remember About Life Insurance
Family First: 3 Important Things You Need to Remember About Life Insurance
Approximately three out of five people have some form of life insurance, and another 34% have intentions of investing in life insurance plans within the next year. While life insurance policies are fairly common, many people don't quite understand just how important they are. 

There are countless great reasons to invest in a life insurance policy, but before you do, there are some important things for you to remember. Enrolling in a life insurance plan might seem like a smart idea even if you're living a healthy lifestyle, and here are some important points to think about before you invest. 

Taking Care of Loved Ones 
No matter the policy you choose, it's important to remember that it's not all about you. While having a policy as a single person is still incredibly important, the ultimate outcome is going to help those who outlive you. Having a family means taking on additional responsibilities, which is something that a good policy can help with. If you invest in life insurance, it will ensure your family will be protected and provided for. 

For the Living 
As previously stated, this insurance isn't for you because it won't take effect until after you pass away. As the name suggests, this kind of insurance exists to benefit those who are still living after you've gone. It exists for the sole purpose of providing financial security for those who otherwise would rely on your financially. 

Final Expenses 
Paying for a funeral and all of the related costs isn't an easy burden to bear. In addition to dealing with the loss of a loved one, the prices can often be very steep for such services. A good insurance policy will help your family pay for those final expenses so that you can have a beautiful, sentimental sendoff. Without an insurance policy, your family will be saddled with the big bills that often accompany events like a wake, funeral, and other related expenses. 

While you might be the one investing in the insurance policy, it is important to look at the big picture. This kind of insurance puts family first, which is important to remember.

5 Rookie Mistakes to Avoid When Buying Life Insurance for the First Time
5 Rookie Mistakes to Avoid When Buying Life Insurance for the First Time
Approximately 40% of millennials surveyed showed interest in a life insurance policy, and for good reason. Life insurance is important at any age, as it ensures that your expenses will be covered in the event that you pass away. 

But that's not to say purchasing life insurance for the first time is a simple task. In fact, there are many mistakes to be made. That's why we've compiled a list of five rookie mistakes to avoid making when you purchase life insurance for the first time. 

Missing the "free look" period 
After your policy has been issued, you'll have a number of days to look over it and make any changes you need, or even reject the policy altogether. The biggest mistake you can make is not taking advantage of this period of time because it means that you'll be locked into a policy that you may not even want. 

Not comparing apples to apples 
If you're shopping around for life insurance, it's important that you take the time to compare similar products. Looking at a life insurance company's term insurance plan and comparing it to another company's permanent policy isn't going to do you any good. 

Misunderstanding the purpose of life insurance 

Before you purchase any life insurance, you need to understand why it's important. Your main purpose in purchasing a policy from a life insurance company should be to provide for your beneficiaries in the event of your passing. It helps to identify specific costs that would be covered for your family under life insurance policies. 

Ignoring policy riders 
Policy riders are another way in which life insurance companies allow you to adjust your policy. So if you're concerned about being covered while disabled, you can add a disability policy rider to your plan. 

Not researching reputable life insurance companies 
Always, always do your research before you purchase life insurance from just any company. Taking the time to properly research different policy providers could ultimately mean the difference between a great life insurance policy and a sub-par one. 

No matter what age you are when you purchase life insurance, make sure you're avoiding these rookie mistakes.

3 Major Life Insurance Mistakes to Avoid
3 Major Life Insurance Mistakes to Avoid

Life insurance is extremely important if you're in your 40s, 50s, 60s, and beyond. In 2015, about 55% of Americans would recommend affordable term life insurance to someone else and in 2016, after an increase of 11%, about 66% of Americans recommended policies.

You have to be careful, however, to not make any mistakes when it comes to these insurance policies. Here are a few common insurance mistakes that people make.

Waiting to Get Covered

Remember to consider that these insurance policies are actually insuring your life. Just because it's your life, that doesn't mean it doesn’t impact others involved in your life like your family and close friends. Waiting too long to get insured will leave your family vulnerable and at risk of struggling financially should you unexpectedly pass -- on top of the emotional stress -- and that can be extremely overwhelming. It’s never too early to ensure that your family will be taken care of in the future, should anything ever happen.

Forgetting About Your Policy

Just because you've made your policy effective doesn't mean that you can’t maintain it. Life is always changing and specific relationships as well as family issues arise and can alter your future. You should always review your insurance policy and adjust it accordingly after any major changes happen to your family or in your life to ensure your insurance policy reflects your current situation. Even if you have had the same coverage for 15 years, you can easily go back and have it adjusted.

Having No Insurance Policy At All

Waiting too long or never adjusting you policy are mistakes people certainly make, but the worst mistake anyone can make involving insurance is by simply not having any. You might think that since you and your family are happy and healthy, that you don't really need any insurance. If you look at it like this, it's difficult to justify spending the extra cash for something that you don't really think is necessary. If you think about your life or your family's future, however, you'll realize how important it is for you to have a great policy.

If you want to learn more about health and life insurance policies, contact Bankers Fidelity today.


5 Things You Should Know About Diabetes
5 Things You Should Know About Diabetes

In the U.S., one-third of adults have pre-diabetes, and the majority of them aren't even aware of it. Because diabetes is such a problem in the U.S., it's essential for patients to have affordable term life insurance plans and all the essential health benefits that you'll need.

 

Here are some of the important aspects of diabetes you should know about.

 

Diabetes Can Be Quite Expensive

Every year, diabetes ends up costing overall roughly $174 billion. Approximately $116 billion was used for direct medical expenses. That's why it's important that you find quality insurance policies that come with the essential health benefits you'll need as you get closer to retirement and old age. Talk to Bankers Fidelity today to learn about essential health benefits.


Not All Blood Glucose Monitoring Meters Are the Same

Every person is different and every case of diabetes is unique in its own way. Certain aspects or features of blood glucose meters vary significantly, so it's important that you're aware of each aspect of your specific meter. Consult with a medical professional and diabetes expert before purchasing any blood glucose monitoring meter.

 

You Should Talk to Your Pharmacist as Much as Possible

Your pharmacist can help you out tremendously, especially if you are still adjusting to being diagnosed with diabetes. Getting to know your pharmacist has its advantages from understanding the frequency and dosage of your medications to being able to anticipate your next refills. In addition, they have thorough knowledge of your medication(s) and will be able to answer any questions you may have, which may avoid calls to your doctor. 

 

Keep Your Cholesterol In Mind At All Times

Diabetes and high cholesterol may go hand in hand. Because high cholesterol can cause serious damage to blood vessels in your eyes among other problems, it's important for you to keep your cholesterol in check with healthy habits. Talk to your doctor about testing for high cholesterol and the frequency you should do so, especially if it runs in your family.


You Don't Always Have to Be Overweight to Develop Diabetes

It's a common misconception that diabetes is linked to obesity. However, according to Women's Health, 15% of people with Type 2 diabetes aren’t considered overweight.

 

Make sure you regularly consult with your doctor whether you have diabetes or not. It's your life and it's up to you to live it in the healthiest way possible.