Life insurance is an important safety net that may provide for your loved ones when you are gone. Despite its importance, there are still a number of misconceptions and misunderstandings about how it works and what it covers.
While the rules for life insurance vary state to state (life insurance offerings in Arizona may not be available in Idaho, for instance), many of the most important tenets remain true.
This post is designed to help you understand four important things to remember when considering life insurance plans.
If you are financially responsible for another person, you may want life insurance: Whether it is a spouse, child, dependent parents, or employees of your business, you should consider life insurance so that the people in your life don't suffer if something were to happen to you.
Life insurance isn't a ‘Get Rich Scheme’: Daytime television might be full of stories of murder for life insurance benefits but the reality is that, in many cases, life insurance will cover little more than the cost of funeral services and outstanding debts. While it is true that benefit increments can range from $10,000 into the millions, whatever is left over will likely be necessary to help lessen the burden after losing a steady income.
There are different types of life insurance: One form is called Term Life Insurance. This is the popular type and can be less expensive in premium. It essentially only lasts through the term -- or amount of time -- it is in place, usually 10, 20, or 30 years.
Another form is Whole Life Insurance, which is designed to last the lifetime of the insured. With this option there is a cash value involved in order to sustain the policy.
Life Insurance is Probably Cheaper Than You Think: Unless you are applying for the top benefits, life insurance can be less expensive than most people believe. For someone in their 30s who leads a healthy lifestyle and doesn't smoke, policies may be available for less than $500 a year.
Life insurance is an important tool to protect your loved ones. This may give you a better idea of some of the core information about life insurance policies so you can start a conversation with an independent agent today.
Life Insurance policies are underwritten by Bankers Fidelity Life Insurance Company®, Atlanta, GA. Limitations and exclusions apply; actual policy provisions control. Application to determine eligibility required. Rates subject to change. Product availability and benefits can vary by state.
Maintaining a healthy lifestyle is important from the time you first learn to feed yourself until your last years on earth. No matter what your financial situation may be, where you're living, or how big your family is, you will always need to focus on your health.
As you grow older, however, your health becomes the single most important aspect of your entire life, and you should treat it as such. Not only do you need to do everything you can to maintain a happy and healthy lifestyle, but you need quality health insurance policies and life insurance policies as well.
Here are some tips to maintain that happy lifestyle well into your old age.
It is recommended that you consume at least one and a half to two servings of fruit a day and two to two and a half cups of vegetables every day. If you want to live a strong and healthy life in your elderly years, you're going to have to get serious about your diet. Not only do you need to eat a healthy dosage of good foods, but you also need to completely cut out unhealthy foods from your diet. Just because you eat the recommended amounts of fruits and veggies doesn't mean you're allowed to stuff your face with cake, candy, and fast food all day. Develop a healthy and realistic diet and stick to it, no matter what, because your health depends on it.
Get Rid of All Your Bad Habits
If you're still smoking, it's time to stop. You know how dangerous it is and even this late in life, if you fully quit smoking, you'll feel more energized than ever and much healthier. In addition to quitting smoking, try your hardest to change any other unhealthy habit that you've developed over the last few years. If you spend all day sitting on the couch in front of the TV, consider getting outside a bit more.
Get Plenty of Sleep
Your body needs to regenerate each night and getting enough sleep is essential in doing so. If you really want to stay healthy, you have to do everything together. You can't just exercise, sleep right, and eat right but still smoke a pack a day. You have to get a decent amount of rest each night, stop smoking and doing all your bad habits, and eat right every single day to ensure a happy and healthy lifestyle.
It's so easy to let the feelings of laziness overcome you as you grow older. You have to give yourself a fighting chance to have a happy and healthy life for as long as you possibly can. Don't think for a second that just because you're not as young as you used to be that you can't improve your health. Talk to a professional and determine and individualized diet that you'll be able to stick to, put an end to all your unhealthy habits, and get plenty of sleep. You're going to need all that rest, too -- you have a lot of life left to live.
Can you buy a life insurance policy while incarcerated?
If you have a life insurance policy before going to prison, will it still hold during your incarceration?
Can you get life insurance if you are on probation?
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Understanding Medicare Supplement
Neither Bankers Fidelity Life Insurance Company® nor its Medicare Supplement policies are affiliated with or endorsed by the U.S. Government, the federal Medicare program, or the Centers for Medicare and Medicaid Services. This is a solicitation of Medicare Supplement insurance and an independent agent may call on you. The Medicare Supplement products issued by the Company are insurance policies. Policy form series B 21092 is issued by Bankers Fidelity Life Insurance Company®, Atlanta, GA; policy form series B 21492 is issued by Bankers Fidelity Assurance CompanyTM, Atlanta, GA. Limitations and exclusions apply; actual policy provisions control. Rates subject to change on a class basis. Individually underwritten; application to determine eligibility required.
Products not sold in AK, CA, CT, MA, ME, MN, NH, NY, OR, RI, VT, WA or WI. Plan availability can vary by state.
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