Where would the money come from surviving a serious illness Financially?
Everyone knows that it's not cheap to be sick. And for those who are facing serious illness, mounting medical bills and be on the job can mean a financial crisis and a health crisis. It is always better to understand in advance where the money could come to you and your family to deal with something like this help
If you choose out-of-network care from a specialist or hospital nationally recognized, you can face significant additional costs, plus the cost of travel and accommodation. In addition, the indirect costs associated with recovering from a serious illness, such as changes to a home or a vehicle, the costs of care and convalescent care, may not be covered. It is important for you to know what your health care plan will not cover before a serious illness strike
Disability insurance :. This type of insurance typically replaces part of your income if you are sick or injured and unable to work. If you are covered by disability insurance, you must know the answers to questions such as :?
How long must be disabled before benefits begin
What benefit you receive [1945002?] How long the benefit payable
social security benefits: assuming you qualify, the social security disability benefits do not begin until the sixth full month of disability and are generally not sufficient to replace your purchasing power
savings and investments: a single serious illness could consume the assets you've worked a lifetime to accumulate
Ask yourself :. If you have suffered a serious illness and were out for three to six months, would you be able to survive financially? If the answer is no, contact your agent or financial advisor today.
Retirement: A time bomb for the self-employed
Reuters published the article, "As more independent American Go workers, retirement time bomb turns," the review this pension time bomb. He considered the lack of retirement planning and the underfunding of pension plans for the self-employed. As he said: "If you ask independent workers about retirement savings, a shocking number exactly give the same answer:" What retirement savings? "
This is a major problem not only for self -employed, but for the US as a whole. With more and more people without regular employment and the benefits that come with them, the article said that our nation is facing a time bomb retirement
Therefore :.
- 28% of the self-employed were not saving at all, and 40% were only saved from time to time, according to the independent TD Ameritrade holding Corp. and retirement Survey.
- 40 percent of the workforce will be freelancers, entrepreneurs and temporary workers by 2020, according to a study by Intuit.
Although the traditional way of saving for retirement is not designed for independent culture, those working on their own need to take responsibility for their retirement. The article highlights some of the methods available, including:
- For those who have a significant margin each month, an individual retirement account retirement Simplified Employee (SEP-IRA ) may be appropriate. The contribution limits are much higher than for traditional IRA: 20% of income, or $ 52,000 (whichever is less) in 2014. (See IRS
- For those who have less to save, a traditional IRA or a Roth IRA will probably be a good fit. these have annual contribution limits of $ 5.500 (plus an extra $ 1,000 for those over 50).
- for those whose flow cash is erratic, as is often the case with freelancers, then a percentage system may be more appropriate, the allocation of a percentage of the monthly salary at retirement.
the time is of the essence for independent workers to begin saving. According to the article, only a third of all Americans are contributing to 401 (k) s at the moment, and if these workers are not motivated to plan their retirement, the retirement savings system will become even more broken it already is, and programs funded by the government are not the solution.
also keep in mind that life insurance, disability insurance and long term care insurance should be part of the overall plan. If you die before completing your retirement savings goal or become ill and are unable to work, you must always have resources for you and your family to fall back on. Insurance can provide that safety net.
Documents End of Life: What are they and what I Need
I recently read an article by Jean Cherni in the New Haven Register, who discussed the need for end? life planning 
No. 1 :. durable power of attorney This shall appoint another person to transact business, legal and financial for you until you die
Why do you need Let's say you are. ? incapacitated by an accident or illness, it allows the person you have chosen to act for you and quickly. This can help you avoid many problems, including guardianship and trusteeship rights difficult to obtain. (If you're not sure that one of these two terms mean, this article makes it clear.)
No. 2 :. Appoint a health care representative As with the first document that allows someone to act on your behalf to make health care decisions if you are unable. It allows them to do things such as the review of health records, authorize admission or discharge from the hospital and take decisions on vital medical procedures.
Why do you need? You will have peace of mind knowing that your wishes will be fulfilled as you want, especially regarding vital medical procedures. It also avoids the arguments of the family about who should have the last word.
No. 3 :. Directives or living care ADVANCE This puts in writing the decisions you've made about your health care instructions, if you will, to your doctor so that your wishes are followed if you are unable to articulate.
Why do you need? it provides, for example, you receive the treatment you have decided in advance if you are terminally or unconscious phase permanently.
It helps to ensure that the treatment you receive in a terminal condition or permanently unconscious are together with your wishes and advises your health care representative.
No. 4: A will or revocable trust . This puts in writing who will inherit your property when you die, and how. Both documents can help eliminate, prevent or postpones taxes that are payable when you die. A lawyer can help you decide which of these documents is best for you.
Why do you need this? If you do not have a will or a revocable living trust, essentially the government will be able to decide how and to whom your assets are distributed, and it may not be the ones you want .
These legal documents require the guidance of a qualified legal counsel to ensure they meet the requirements of your state of residence, and if you already have them, but have moved to a new state, they should be checked for their compliance with the laws of your state.
Our views on life insurance and finance-In Facts Tweetable
For the fourth consecutive year, life happens and LIMRA were checking the pulse of the American people and their attitudes on life insurance, retirement and financial well-being.
2014 study Barometer insurance just published shows that children of the millennium, 25-34, show the highest level of concern across all generations for common financial issues planning, including savings. retirement, paying for the education of a child and burden others with the final expenditure
retirement is certainly not to be seen with rose-colored glasses: 52% of 25-34 year olds are "very "or" extremely concerned "about having enough money for a comfortable retirement, followed closely by those aged 35-44, 47% have the same concerns.
and if ever there was a stone of stumbling to life insurance property which was really "not there" price, or better said the price received Get this. When asked the price per year for a $ 250,000 20-year policy of level term life insurance policy for a healthy 30 years, the median cost given by the 25 and under $ 1000 was nearly 10 times the actual cost of $ 150 annually. overall, more than 80% of Americans overestimate the cost of life insurance.
overall, more than 80% of Americans overestimate the cost of life insurance.
Couple this with the fact that many people prioritize things like paying for cable and mobile phone or eating out on obtaining life insurance. Ouch!
Here are 10 life insurance facts of the study are "tweetable" which means you can share them by clicking on the fact that you want to tweet and the tweet will be generated for you. And make sure to follow us on Twitter at @lifehappens.
The source of all these statistics is 2014 Insurance Barometer Study, life happens and LIMRA.
We'll get the facts on disability and the need for disability insurance
If you are like the typical American worker, you believe that your risk of loss of income due to illness or injury is much lower than it actually is. As a result of this misconception. you may not have taken steps to protect your income with disability insurance. Here's why that's a mistake.
30 years earn between $ 40,000 and $ 50,000 today will probably win more than 3 million $ in their career job if they stay healthy. Failure to protect the most valuable financial resources, your ability to earn income, can result in financial disaster.
This is not what you think
When asked if they know someone who has become disabled, the most common answer is "no ". Yet more than 8.9 million US workers, over 5% of the working population receiving social security disability insurance benefits today and SSDI is difficult to qualify for. If we change the question: "Yes." "I know someone who has had cancer, a bad back or heart problems", the answer is invariably
One of the myths lasting disability is the average working hypothesis America that disabilities are more likely to be caused by accident. In the gap of disability research series, conducted by the Council to raise awareness of disabled people, by a wide margin, employees have said that if they were to become disabled, it is likely caused by a catastrophic accident:
- 64% of employees surveyed said "a disability would cause someone to miss at least one year of work"
- an astonishing 31% said a disabled employee would "never return. at work."
This catastrophic perception of disability results in employees underestimate their risk of long term disability. When they realize most disabilities are caused by much more common diseases, they begin to understand their own risk is higher than they thought.
A disability application is much more likely to result from a diagnosis of illness that is chronic and common.
Facts
Let completely separate from fiction. Every year for the annual long-term disability claim review, CDA collects data on the claims of the involvement of insurers disabled with a combined insured population of over 30 million workers. An evaluation of more than 0,000 disability claims recorded in a given year indicates the percentage of active requests that were caused by injuries is still below 10%. The remaining 0% or so have causes that are classified as diseases. While catastrophic accidents cause some disabilities, those often very visible, a disability claim is much more likely to result from a diagnosis of illness that is chronic and widespread.
The five causes of all disability claims assets in 2012 were as follows:
# 1: musculoskeletal and connective tissue: 30.7% for the 2012 long-term disability claims reflect diagnoses in this category. Specific examples include back pain, joint problems; muscle, ligament and joint disorders, arthritis, 
# 2 .. The nervous system and detect conditions related to organs These diagnoses accounted 14.2% 2012 applications and include multiple sclerosis, epilepsy, paralysis, Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS), eye and ear disorders
# 3: .. cardiovascular / circulatory conditions 12.1% in 2012 requests resulted in circulatory disorders such as hypertension, chronic heart disease, heart attack, stroke, aneurysm and disease of the coronary artery
# 4 :. cancer diagnoses of cancer, such as breast cancer and prostate cancer. , Lymphoma, Hodgkin's disease and leukemia were the cause of 9% from 2012 claims
# 5: injuries .. Finally, injuries, including fractures, sprains and sprains, dislocations, contusions, burns, poisoning and allergic reactions have been diagnostics to 7.7% in 2012 disability claims.
the bottom line is that injuries are in the mix, but the vast majority of disability claims resulting from common diseases that are very familiar to almost every American worker
your best financial move is to defend your income with disability insurance
Sources: 2013 .. the Council awareness of disability long term review of disability claims
the Council for disability awareness Divide Research Series 2010-2013
6 reasons Millennium If Consider life insurance (even if you do not have children)
There are facial recognition software that the name of your friends and ask you if you want to mark on your social media profile. You can text message to someone across the world, and you can play a video game with a complete stranger on another continent. Technology has made so many amazing things over the last 20 years, but there is still no way around our own mortality.
While it is never pleasant to talk, your death is inevitable. It's easy to forget that when you're young. Everything seems to go as planned, and most young people have few links with the sorrow of death, out of the way of their grandparents.
But adulthood is an advantageous time to buy life insurance. The advantages to do are many. If you are not sure whether you need insurance or not, consider the following:
1. You have dependents. First, life insurance is not for you. It is for those you leave behind. People who depend on you-your load. Dependents must not be children. For insurance purposes, these are people who 
If you have dependents in a situation of long-term care (or those you might consider requiring such assistance in the near future), or because of old age or disability, the life insurance is a necessity. Most young people simply do not have the financial means to cover those kinds of expenses of long term care. An insurance policy can help.
In addition, if you have a spouse who stays at home, consider the ramifications of your death. that person would not only be forced to get a job outside the home, but pay for child care as well. How long do you think your spouse might find something that would cover these expenses?
Life insurance gives you peace of mind, knowing that your loved ones would not be affected financially by your death.
2. The costs are lower. life insurance premiums are risk calculations based on mortality. Since the average life expectancy is 79 years old somewhere around there is less risk for a company to ensure a healthy millennium. Less risk for the company, means relatively cheap premiums for you. Coverage can usually be obtained for pennies on the dollar. (Think of the cost of a fancy latte every week.)
The premiums are based on the applicant's age and the rates generally increase with age. If you buy a policy as 20 something, it will be at a lower rate than if you wait until you're 40. You could save a few hundred dollars a year, as long as 30 years, if you act now versus later.
more, qualification for cover as a healthy millennium can be much easier and less expensive than the application after you have been diagnosed with a health problem. Do not wait. A health problem may arise overnight and qualify for a life insurance policy can be a very different experience once you have been diagnosed.
3. You want an additional savings vehicle. If you still have a reason to dig into your savings, consider purchasing a permanent life insurance policy that has not only a death benefit, but a savings component so . You can borrow against it and using it in retirement, according to the policy and company behind it.
Think of a permanent life insurance plan as a portfolio asset that will help you secure your family and your retirement. Your generation understands the importance of saving for the future. A permanent life insurance policy can help you do so with minimal effort on your part, plus there is no limit to what you can contribute to some of the savings, unlike a 401 (k) or a Roth IRA. Once you're retired, you can draw on some of the savings tax-free policy.
4. You want to extend your insurance-backed company. Millennials who are lucky enough to have a good paying job with excellent benefits can benefit from life insurance through their company. While this provides some peace of mind, consider purchasing other, independent coverage. If you become ill and are no longer able to work, work your policy will not cover you. Since you have been diagnosed with a terminal illness, you may not be able to get a life insurance policy at the time. Now when your family needs the most advantage, they did more. Also the most basic coverage does not cover everything your family needs at a time when they are ill equipped to meet their needs.
5. You want your funeral expenses and liabilities covered. Although nobody depends on your income, such as a spouse or children, you must consider your debts and funeral expenses. The only way funeral costs between $ 10,000 and $ 15,000. Some debts would be lifted to your death while others would be collected by whatever assets you have left. Your parents are able to manage such expenses or will it create financial difficulties for them?
Millennials want to decide what amount of coverage they need to pay for funeral expenses and bad debt when deciding the amount of insurance coverage.
6. You want to take advantage of riders for more coverage. Life insurance is not all about the death benefit paid to your loved ones. There are also riders that can be added to policies to meet the needs for things like long-term care and disability. You are more likely as a young person to be injured in an accident that you are to be killed in one. If you were injured and unable to work for a certain period, or permanent disability, do you have a plan in place to cover your expenses? A disability rider to your life insurance policy may protect against the unexpected.
Frankly, most people will ever need financial comfort provided by a life insurance policy while they are young. But if your family is the one that makes your forward thinking and planning will facilitate their concerns during a very challenging period. How will you plan for your future?
10 Everyday Things that cost more than term life insurance
Adults and parents fear. We care about the health, safety, financial security and the future of our family. But most families need to put their money where their heart is through the purchase of term life insurance. (This is the most affordable kind when originally purchased and provides protection for a specific period of time or "term".) However, the issue is not hypocrisy, but a lack of research and financial literacy . In a life that occurs and the LIMRA study this year, 65% of households did not buy life insurance because they think it is too expensive.
To show that this is a common error, the study asked Americans to estimate the cost of a 20-year, $ 250,000 of term life insurance policy level for a healthy 30 year-old male. Eight out of 10 people overestimated the cost, saying it would be $ 400 per year, which is more than double the actual cost of about $ 0 per year, or about $ 13 per month. Surprisingly, one in four thought that it would cost over $ 1000 per year.
And just know that if you have serious health problems, pre-existing conditions or leisure high risk that would likely require a high-risk insurance, obtain affordable coverage is really simple.
How is life insurance?
To put the real cost of term life insurance in perspective, here are 10 products or services that people regularly spend money on this cost over a premium term life insurance would be for a healthy 30 years at $ 13 per month
- supply -. According to the National Council of Defense resources, Americans waste about $ 529 per year or $ 44 per month on snacks and junk food
- alcohol -. According to the Bureau of Labor Statistics, the average American consumer spends 1% of their discretionary income on alcohol
- Tobacco - .. For households with smokers, 14% of income Americans are spent on cigarettes
- Gym membership - the $ 30 per month, you go on a 24 Hour Fitness membership will used could be better spent funding your policy life
- Electronics -. This new 55 "LED TV that costs $ 800 could be used to cover about five years of long-term life insurance premiums
- games . - Video game average $ 50 per new version . Do not you think your child would prefer that the financial security of a game, he / she will play for a few months
- cars - under-use on your next car purchase $ 3,000 and a loan period of six years with 0% APR, you will save $ 500 per year or $ 40 per month
- Gadget -. Depending on the version you get an iPad costs about $ 550 with tax years, almost three and a half years of premium payments
- Entertainment - .. a pair of movie tickets, popcorn, and a drink, a total of $ 25
- mode . - a pair of designer jeans costing $ 50 or more
Saving money and the financing of your life insurance policy is not to make life miserable. In fact, the average cost of life insurance is so low compared to your overall budget, that even small concessions such as reducing waste and limiting frivolous purchases can open your budget enough to buy a financial tool very necessary.
ultimately, peace of mind and pride to ensure the financial future of your family outweigh any temporary pleasure of a materialistic purchase.
Can I still obtain life insurance after a heart attack?
There should not be a surprise that people with a history of disease such as heart disease would have a harder time approved for life insurance than those in good health. But the key word here is difficult, not impossible.
If you have had a heart attack, knowing what to expect when you apply for term life insurance will greatly increase your chances of getting good coverage.
What Do insurance providers need to know?
The key is to be open and honest in dealing with insurance companies. Do not withhold information from them, as they will likely need a medical examination anyway, in which everything will come out. You must be prepared to answer the following questions :?
- When were you diagnosed
- Do you have underlying problems that caused the heart attack
- How often do you visit your doctor?
- What treatments have been recommended to you?
- What treatments have you had? (Including surgery and drugs)
- has your condition improved since the first diagnosis?
What If I Have Had Multiple Attacks heart?
If you have a more severe form of heart disease and / or have had several heart attacks, it is always possible for you to get approved for coverage. You just have to be aware of what your options are. You can not end the amount of coverage you want, but some companies do offer standard or regular term (in some cases, standards) life insurance policies for people with this type of history the health. If the traditional coverage is not available, a life insurance policy or high risk of a term of classified services may be needed.
What kind of price can I expect?
where each person will be different, so it is impossible to say exactly what prices will be offered. However, to get an idea of what you can expect, look at an example.
Kyle is a 43 year old man who had two minor heart attacks in his life, but not in recent years. It is also a non-smoking, which puts him in a better light with insurance companies, and his most recent medical tests showed that his condition has improved.
Because of this, it will be able to get a life insurance policy, but because he had several heart attacks, he can not be offered regular rates or lower rates to standards instead, more regular or preferred.
rate to a policy of $ 150,000 with a term of 20 years, Kyle will probably be offered between $ 35 and $ 70 per month. On the other hand, if Kyle decides to implement a policy of only $ 100,000 for a period of 15 years, rates, it is proposed will probably decrease from $ 10 to $ 30.
As you can see, it is possible for people to obtain life insurance coverage after a heart attack. The key is knowing what to expect before you apply.
This Is What Anthony Anderson thinks life insurance
may know Anthony Anderson of his hit TV series black-ish and as an host Eat America . But this month, he will be taken on a new role in 2015 national spokesperson for Life Insurance Awareness Month.
As spokesman for the campaign, which is coordinated by life happens, Anthony is sharing her personal story of how he and his family were directly affected by life insurance.
As a young boy growing up in Compton, Calif., Anthony saw the importance of his family put on life insurance. Although his parents are not many, they have Mary or the family of Anthony called it, "The Lady of insurance." Mary was a staple in the house Anderson, visiting family throughout the year to review and update the life of his parents insurance Conditions. She even sold Anthony its first life insurance policy when he turned 18.
Now a husband and father, Anthony understand why his parents have life insurance is a priority, and has made it a priority for his family to be protected.
"Even on their limited income, my mom and dad instilled upon us all the importance of planning for the future and the fact that tomorrow is not promised to everyone," Anderson said. "I know how hard it is to lose someone you love. An accident took my brother when he was 26 and shortly after, I lost my father to diabetes, a disease that I, myself, am today. He was passing through these rough death, but the fact that they both had life insurance so much easier. "
The awareness campaign for the month of annual life insurance, which takes place in September, encouraging more than 100 million Americans who do not have sufficient life insurance to get the coverage they need . You can start planning your own here.
life insurance declined? Here are your next steps 3
It, AOS difficult to learn that the life insurance company you applied to will not offer you coverage, especially if you expect fully Yes!
you can fall into, Äúimpaired risk market, Âu which means you have something in your background makes you a higher risk of dying things prematurely, Äîthink as diabetes, obesity, previous diagnosis of cancer or even a driving history impaired.
While many candidates with this type of history They include, Aore against an obstacle or two, it, AOS not easily be denied life insurance coverage. But often it doesn, AOT means hunting for approval is complete.
There may still be options, which include the application of a more appropriate company or applying for a different type of policy.
Here three manageable steps you should take if you, AOVE been refuse life insurance .
1. Gather information. Before an insurer denies a request, they collect a lot of data from multiple sources to assess your risk. If the risk is high enough, you will be evaluated, postponed or refused. In any of these circumstances, request more information about the reason for refusal is your right.
Upon request, the carrier can provide detailed information on the reasons for the request is denied, if it was due to medical history, current test results, record or other thing of conduct. Denials of current exams tend to be more shocking, as you may not know of a disease or a prior illness.
2. Confirm the results. Errors may occur. The son can be crossed. Check the data that was provided to the insurer. If poor exam results were cited as the cause, confirm with your primary care physician. In some cases, a company can simply deny coverage because of the new, undiagnosed lab results, although there is little cause for concern.
In other scenarios, you may be denied for professional risk or leisure, criminal records and even financial distress. With files like these, which aren, AOT updated or detailed enough, can lead to the postponement or decreases because the subscriber can simply AOT evaluate a good risk profile.
3. Working with an agent. Even with proper research, the first company you apply to isn, AOT always necessarily better. Passing along detailed information to an agent can allow them to search the better options. A high risk of life-trained insurance agent can evaluate information in depth and find a better solution for you.
But you must also understand that the application to another carrier is an option if the ground for refusal (such as diabetes) is another may accept (because your diabetes is under control with medication) . Each life insurance company adheres to its own set of underwriting guidelines, which means the same applications to separate carriers might give different results.
There may still be options, which include the application of a more appropriate company or a request for a different kind of politics.
If the cause of rejection is too large, a life insurance policy type entirely different may be the last resort. Using, Äúgraded at or guaranteed products make possible life insurance for people with pre-existing conditions or adverse risk profiles. Although they cost more and are usually delivered with maximum death benefit, they can be a solution.
Recording in the Long Run
After being approved for life insurance, keep an eye out in the coming months or years. Depending on your situation, you may have options to reduce your rates. Here are two quick examples:
Let pass the time Some dubious risks simply require more time to pass between diagnosis and time of application .. As the medical records and follow are recorded, and the symptoms go or become stable, your rates may go down. In addition, concerns a driving record or criminal record may also just need a certain amount to have elapsed when the offense is withdrawn or settled.
Check the workplace. If life insurance is offered by the group insurance at work, it could end up being more affordable, based on the program offered. It could also lead to fill the gaps in the coverage of a graduated policy or guaranteed behind.
There is no one-size-fits-all regime to fight against a declination. However, taking these steps could alleviate stress and inconvenience that make finding coverage so daunting.