6 Life Events That Should Prompt You to Reevaluate Your Life Insurance Coverage Needs

For many of us, life insurance never even crosses our mind until a major life event occurs. Whether you’re purchasing a new home or starting a family, our financial responsibilities will change and evolve over time. For many, this signals the need for life insurance. In fact, 41% of all life insurance purchases are life event-related. Let’s take a look at life’s most significant changes that should motivate you to reevaluate your financial situation and consider adding life insurance to your portfolio.

New Home Purchase

There are few things more exciting that collecting the keys to your new home. Living the “American Dream”, however, comes with a price. Regardless of what happens in your personal life, the mortgage company expects their payments monthly. Would your spouse be able to afford the mortgage payment, should the unthinkable occur? What about property taxes, home insurance, and regular maintenance costs? Having sufficient life coverage can help ensure your family isn’t uprooted unexpectedly.

A New Baby or Other Dependent

Welcoming a new baby into the world is a time for celebration and hope – perhaps the happiest time in a parent’s life. As you’re picking out paint colors and baby cribs, consider examining your financial health. Are you doing enough to save for your child’s future and how would your strategy be affected should you or your spouse suddenly be removed from the picture? Your children will be your most celebrated accomplishment, as well as your greatest responsibility. Start investing now to ensure they grow up in a stable environment and have everything they need to fulfill their dreams.

Whether you decide to bring a child into the world or not, it’s important to keep in mind that dependents come in multiple forms. Many adults find themselves supporting their parents as they enter their later years. Some move them into their homes, while others help pay for home health care. If you find yourself caring for a family member, life insurance can help ensure your dependents are cared for in your absence.

Tying the Knot

When you tie the knot, your life insurance needs shift enormously. You’ve agreed to share each other’s financial responsibilities and support each other through the ups and the downs. Yet a staggering 35% of Americans express regret that their spouse doesn’t have a life insurance policy. Investing in life insurance offers the peace of mind that he/she is protected in the event of your untimely death.

Open a New Business

Once you become a business owner, you’re exposed to a whole new set of financial commitments. When embarking on such a major life change, it’s important to consider who is at risk were you to pass on unexpectedly. Many partnerships build life insurance into their business strategy, with the agreement that one would buy out the deceased owner’s share of the enterprise upon the co-owner’s death. This policy ensures your family, your business, and your employees are protected, should the unthinkable occur.

Change in Marriage Status

While no one enters into a marriage expecting it to end in divorce, many couples find themselves in a position where divorce is the most healthy option for everyone. Life insurance is an effective way for parents to ensure their children are cared for, even after they’re gone. This is particularly effective in situations where one parent pays child support to their ex, to assist in covering the day-to-day expenses of raising a child.

Estate Planning

Consumers who have an estate large enough to be taxed, either federally or on the state level, should consider the tax benefits of adding a life insurance policy to their portfolio. When set up properly, a life policy could help provide the funds needed to pay down estate tax bills. Many families are forced to sell assets to pay for outstanding medical bills, settlement costs, and estate taxes; a step that could be avoided with the proper life insurance coverage.

Always consult with a licensed insurance professional who can assist in the assessment of your current needs, as well any long-term risks and goals.

Purchasing life insurance is a means towards financial piece of mind. And, while few constantly dwell on an inevitable future, we all have considerations now and then about how things will be different after our departure. The events mentioned above, either joyous or more difficult, often cause a person to pause and think about where things are headed in their lives. If you are approaching one of the aforementioned events, or a similar life decision, this can be the perfect time to look into what it will take to purchase a life insurance plan. Contact an agent and see what they can do for you today.

Does Homemade Chicken Noodle Soup Really Offer Health Benefits?

With cold and flu season upon us, many of us are stocking our cabinets with over-the-counter meds, fire cider, and other natural remedies. We’re loading up on vitamins, doing everything we can to boost our immune systems and preemptively ward off an attack.

Homemade chicken noodle soup has long been the preferred remedy when battling the symptoms of a cold or flu. While a part of me always believed it was just in my head, a warm bowl of my mom’s chicken noodle soup always helped soothe me, making my temporary illness just a little more bearable. Recent studies reveal that it was NOT just in my head and that chicken noodle soup actually does have real health benefits, helping to speed up the healing process.

Health Benefits of Homemade Chicken Noodle Soup Revealed

  • Chicken noodle soup is chock-full of electrolytes. These natural electrolytes help keep you hydrated and have been proven to offer more benefits than commercially sold electrolyte drinks.
  • The natural salts, combined with warm liquid and resulting steam, help clear mucous membranes and sooth your nose and throat. According to Dr. Keri Peterson, “All liquid broth soups will speed up the movement of mucous in your nose simply because it’s a hot fluid and that causes dilation of blood vessels which causes increased blood flow and allows the mucous to flush everything out. And that will help alleviate congestion.”
  • Bone broth has also proven to have a plethora of other health benefits. It is rich in magnesium, phosphorus, and calcium, as well as glycine, which assists in detoxifying the body. Click here to find out how to make a healthy, vitamin-rich bone broth.
  • In addition to the bone broth, the other ingredients regularly found in chicken noodle soup contain antioxidants and nutrients that help fight an infection, reduce inflammation, and boost your immune system. Onions are rich in antioxidants that help remove harmful toxins from your body.
  • We all have that one comfort food that lifts our spirits and help move the healing process along. Chicken noodle soup has been proven to provide warmth and that down-home taste that gives us that added boost, physically, psychologically, and emotionally.

While store-bought canned soup can offer some of the same benefits, physicians indicate homemade chicken noodle soup is the healthier option. Canned soup is generally higher in sodium and with many nutrients eliminated during the preserving process. What’s your favorite chicken noodle soup recipe?

Should I Purchase Life Insurance for My Child?

Families have long debated whether or not life insurance for children is a worthy investment. Some advisors and agents believe it’s a smart financial move, while others believe the cons far outweigh the pros. The one point that most agree on – purchasing a life insurance policy for a child should be secondary to more critical investments. If you’ve built an adequate emergency fund, invested in a college fund for your child, have a solid retirement plan, and life insurance on yourself, then you can begin thinking about investing in a life policy for your child.

Let’s take a look at the pros and cons and let you decide for yourself.

Your Options

If you have a child under the age of eighteen, there are two types of policies you can purchase:

1) Rider on your own life insurance policy – When purchasing a term life policy for you or your spouse, ask your agent if the carrier offers a rider that would cover your minor child. This rider offers an affordable option for parents looking to buy a small term policy for their children. Coverage amounts are usually limited to $20,000 or less, with term limits of 10, 20, or 30 years.

2) Permanent policy – Your other option is to purchase a permanent policy on your minor child. While these policies are still typically for a small amount, it does extend the option for a little more in coverage. Policy coverage is generally limited to $50,000 or less, with coverage provided for a lifetime, or as long as the premium is paid.

Pros and Cons of Life Insurance for Children

Insurability for the Future

Pros: Many parents choose to purchase a life policy to protect their children later in life. Everything can change on a dime, and none of us really know what the future holds for us. Purchasing a permanent life policy can help protect against those unknowns, ensuring your child still has coverage, even if he/she is diagnosed with a serious disability or illness later on down the road. Not only does this ensure coverage later in life, it locks in the cost at a much lower rate. If your family history puts your child’s future insurability at risk, purchasing a life policy at a young age could prove beneficial.

Cons: While it’s impossible to know what the future will hold for your child, medically or otherwise, the chances of them becoming uninsurable are very small. Although family history will play a factor in insurability and premium, underwriters will also consider medical advances, making it easier to purchase a policy with chronic conditions such as diabetes and cancer. One should also remember that it’s very difficult to determine exactly how much coverage your child will need in the future.

Death Benefits

Pros: While your child doesn’t likely have any income to replace should they pass away, the death benefit is a great way to cover final expenses and any unpaid medical bills. With the proper rider, your child’s policy could even cover medical treatment prior to their passing.

Cons: If death benefits are your primary reason for considering a life policy for your child, there are more affordable ways to ensure these expenses are covered. Consider adding a rider to your own policy or, if this option isn’t available to you, consider purchasing a small, low-cost term policy instead. $10,000 should be enough to cover final expenses and the premium is much more affordable than a permanent policy.

Accumulated Cash Value

Pros: Unlike term insurance, permanent life policies accumulate tax-deferred cash value. This cash value can be used for future planning, such as a down payment on a new home or college tuition. For many, this is an effective way to help contribute to their child’s savings.

Cons: While many consumers find benefit in utilizing the cash value on a permanent life policy, there are some downsides as well. It’s important to keep in mind that policy loans and withdrawals will reduce the overall death benefit. A loan, coupled with annual policy fees, could potentially cause the policy to lapse, if not closely watched. If saving for your child’s future is your primary goal, consider purchasing a small term policy and putting the rest into a savings account. When properly managed, the savings account could yield higher results and offer you greater control over its assets.

Before You Buy

Before purchasing a life policy for your child, take a close look at your current financial situation and goals for the future. Meet with a trusted representative, who can help you paint the big picture, ensuring both your child and finances are protected.

Important Factors to Consider When Choosing A Funeral Home

The last thing most of us want to think about is the inevitable mortality of ourselves and our loved ones. Death should be in the distant future, not a looming threat. Just the same, not a day goes by without someone finding themselves in a state of grief and shock over the untimely passing of a loved one. Although we shouldn’t fixate on such things, there are some necessary steps and questions to consider, when picking the proper funeral home and director. Furthermore, by getting an idea of the process, before actually needing the service, you will be able to approach the situation with some measure of reassurance in your judgement and decision-making process.

Reputation Speaks Volumes

When choosing which funeral home is the right one for you and your family, consider their years in business or overall experience, as a funeral home. Their reputation, both professionally within the industry, and on a personal level amongst past clients, has to be an important factor. The overall demeanor and reception from the director and staff will be critical, especially considering they will be seeing you or your family at a time when compassion and professionalism are definitely needed.

Fortunately, in our day and age of technology, much of this research can be conducted online. Reviews of past service experiences, as well as ratings from the Better Business Bureau, should be available for potential clients. Furthermore, beware of funeral homes that don’t have any history of service to share with the public. This type of business often bases its success on word of mouth from satisfied customers, so there should be reviews and client testimonies available online.

Research and Compare Pricing

When conducting your research, pay close attention to how each funeral service stacks up to their competition or industry standards. If a funeral service is much more expensive or considerably cheaper than most, be a bit more cautious. Overcharging can be distasteful, but doesn’t mean the service is bad. But a large price tag doesn’t mean the quality of service will be any better, either.

And remember the old adage of “you get what you pay for,” if the price is too low. Asking why a business is able to undercut the competition so much may lead to an understanding of the level of service you can expect. Either way, this is definitely not what you want to be thinking about in your time of need. All the more reason to conduct research ahead of time, when you’re able to think and act with clarity.

Religious Protocol and Additional Services

Another factor to consider – how capable is the funeral home in handling special needs, such as preparations within certain religious standards or practices. If you have specific rules or timeframes to honor, ask ahead of time and make it very clear what you expect and need from the funeral home.

Additionally, any amenities or facilities needed for a wake, viewing, or special ceremony should be discussed and clarified ahead of time, in order to avoid confusion or unwanted surprises.

Contracts and Payment Methods

Finally, it is important to be frank and avoid ambiguity concerning contracts for services and methods of payment for the services rendered. These conversations will be much easier when you can think rationally and can consider the many scenarios which can arise in the future. This will also help you gauge the professionalism of the funeral homes you’re considering. You may also be able to open a more personal line of communication with the director or service you choose, allowing for a more personal touch, when the time comes to call upon this business.

As stated from the onset, this is not the type of planning most people want to do. Even more so, when in an emotional state. Find piece of mind now, and save yourself some amount of grief later.

5 Common Causes of High Blood Pressure You May Not Know About

High blood pressure, also known as the “silent killer,” is a medical condition that affects 75 million Americans. That’s nearly 1 in 3 adults! Despite the medical community’s warning of potential side effects, only 54% of those with high blood pressure have it under control.

High blood pressure got its nickname because many people do not realize they have it, as it has very few symptoms or warning signs. When left uncontrolled, this prevalent condition increases the risk of stroke and heart disease, two of the leading causes of death amongst Americans.

Fortunately, there are a number of things you can do to keep your BP in check. No smoking, decreased alcohol consumption, healthier eating, and increased physical activity are often effective ways to lower your blood pressure. The following are causes of high blood pressure that many people are unaware of.

Sleep Apnea

According to the Journal of Hypertension, untreated obstructive sleep apnea (OSA) is a leading cause of high blood pressure. According to a recent study conducted by the Sleep Disorders Center at The Ohio State University Wexner Medical Center, patients with both high BP and OSA realized a significant reduction in their BP when consistently treated for their sleep apnea with a continuous positive airway pressure (CPAP) machine. The study went on to conclude that untreated sleep apnea could be why many patients see little result, despite being on multiple medications. If you experience such symptoms as daytime drowsiness, loud snoring, abrupt nighttime waking, and dry mouth in the morning, have your physician monitor your blood pressure carefully.

Heavy Metal Toxicity

There are numerous studies that suggest that heavy metal poisoning can result in high blood pressure. Mercury, which is often found in fish, drinking water, and older teeth fillings, and lead paint, often interfere with the cardiovascular system.

Vitamin D Deficiency

According to a 2014 meta-analysis published in The Lancet Diabetes & Endocrinology, just a 10% increase in vitamin D can reduce your odds of hypertension by 8.1%. If you suspect you might be vitamin D deficient, discuss this matter further with your physician. Vitamin D levels can be measured with a simple blood test.

Medications 

Believe it or not, there are some medications that actually cause an increase in blood pressure. While it is best to consult with your physician and/or pharmacist, the following are a few medications known to increase blood pressure.

  • Corticosteroids, such as Prednisone
  • Antidepressants, particularly venlafaxine (Effexor) and MAO inhibitors (Nardil, Parnate)
  • Non-steroidal anti-inflammatory medications such as aspirin and ibuprofen
  • Benzodiazepine anti-anxiety drugs, such as Valium, Ativan, and Xanax
  • Etidronate (Didronel), used to treat osteoporosis
  • Nasal decongestants, such as phenylpropanolamine
  • Migraine medications, such as Imitrex
  • Asthma medications/bronchodilators such as ephedrine and epinephrine
  • High estrogen levels, which can cause edema, have also been linked to high blood pressure

Thyroid Issues

Recent studies have linked hypothyroidism (an under active thyroid) and high blood pressure, often resulting a higher BMI and triglyceride levels. If you have experienced such symptoms as depression, increase cold sensitivity, changes in menstrual cycle, sudden weight gain, and/or trouble losing weight, be sure to address these issues with your doctor. Hypothyroidism is more common in females and can be diagnosed with a simple blood test.

Understanding and treating high blood pressure is not often a difficult task. Recovering from its untreated effects can be a different story. Have yourself checked by your doctor and work to make healthy changes, whenever possible. Don’t let the “silent killer” sneak up on you.

5 Steps to Take if Your Home or Business has Experienced Hurricane Damage

Several regions of the United States are still trying to recover from recent hurricane damages, with seemingly no end in sight. With nearly two months left in hurricane season, we thought it appropriate to share some tips and advice regarding the appropriate steps to take after a loss.

Hurricanes Harvey, Irma, and Maria have left many homeless, causing devastation for anyone in their paths. Before Irma had even made landfall, Harvey’s damages were estimated at upwards of $180 billion, claiming the lives of 70 people. Unfortunately, many homeowners lacked the necessary flood insurance coverage, leaving them uninsured and unsure where to turn next.

Here are some tips for residents who have been affected by a hurricane or other natural disaster:

1) Assess and Document Damages

Once it is safe for you to return home, do so. Assess the damages and document everything, with either photos or video. Once damages have been recorded, take whatever measures are necessary to secure your home and safeguard against any further damages.

If your roof was damaged, place a tarp over it to prevent additional leaks. If rising water has caused flooding in your home, move personal property to safety and take measures to dry the area out. Keep records of time and money spent on these temporary repairs. Not only will this serve as proof that took action, many insurers will reimburse you for time and expenses.

Important: As part of the insurance contract, you are required to secure your home after a loss. Failure to do so could result in partial claim denial.

2) Notify Your Insurance Carrier Immediately

Gather all paperwork related to the loss and contact your insurance company or agent to submit a claim. If your area was hit particularly hard, this process could take some time. The insurance representatives are working tirelessly and are likely overwhelmed with the amount of work that requires their attention. Promptly replying to any questions and requests for documentation will help ensure you don’t find yourself at the bottom of your adjustors list.

3) Start a Claim Diary

Keep a diary of all important conversations, instructions, and contact information, regarding your claim. Make sure to include the date and time, name of the person you spoke with, and issues that were discussed.

4) Take Inventory

Take inventory of all your personal property that was damaged or lost due to the storm. If you had an inventory list already prepared, this will serve as a great tool and ensure nothing gets left out. If you have before pictures, provide before-and-after photos to your adjustor.

Check with your insurance adjustor before trashing damaged possessions. While proper protocol indicates you must show your claims representative the items before discarded, some local laws require immediate disposal for safety reasons.

5) Get Written Repair Estimates

While you are not authorized to order permanent repairs, it’s a good idea to get several written estimates from reputable contractors. Make sure each estimate includes an itemized list of materials used, prices, and labor costs.

As Florida residents, we understand all too well how stressful these situations can be. Following these five steps can help alleviate some pressure and help the entire claim process go smoothly. If you find you are not covered for some or all of your hurricane loss, the federal government may offer assistance. Visit DisasterAssistance.org for more information and to apply for aid.