10 reasons to consider life insurance (and when!)
We asked insurance professionals on our LinkedIn group and to share their best advice on 'life insurance and get coverage, and here are some of the great advice we got
1. Start young. Just because you do not have a family, mortgage and large financial obligations does not mean you have to wait for a life insurance coverage. Lock your rate while you are younger and healthier. You can always add more later in life. -Ivan I. Usero
2. A fundraising pasta for dinner after your departure will not be enough money to take care of your spouse and minor children. Do not let that be the legacy you leave with. -Suzanne Allison
3. Life insurance is like a parachute; if you do not the first time that you need, there is no second chance. -Luis A. Ortiz Haddock
The thought does not protect your family, do it!
4. Do not underestimate the "power save" your spouse stays at home! -Patrick O'Rourke
5. If you are a small business owner, who takes care of your family in case of death? It is not enough for you. -Sherrell Martin T.
6. Permanent life insurance is the best investment vehicle while you are alive or dead: tax free access to values cash accumulated in the policy while you are still alive and tax free death benefit product for your loved ones when the inevitable happens. Put your money where your "life" is! -Czarina C. Barit
7. Until you purchase, you are not covered. The thought does not protect your family, do it! Ed Rainier
8. It is better to have insurance and not need it than need and not have it. -Paul Arroyo
9. Buy when you're healthy, it's easier to get and cheaper. -Shannon Williams
10. Get as much as you can afford and as soon as you can. I prefer the zero age insurance. -Sean McCann
And, why not, an extra tip for good measrure!
11. It has been said, You buy life insurance because you will die, but because those you love will live. I 100% agree with this statement. Protect your loved ones should be priority No. 1. -Scott Raab
Why I wish my father would have been the life insurance
One afternoon my parents sat me and my sister for a family reunion that would change our lives forever. "I have cancer of the bladder," my father told us.
He had previously removed one of his kidneys was cancerous. My father never told us because he was assured that he was a low-grade cancer. This time it was different. He was immediately returned to the MD Anderson Cancer Center in Houston. The doctors confirmed that he had stage 4 cancer of the bladder. He was an incurable and inoperable cancer and life expectancy was limited.
in August 2010 was the beginning of the end. His condition worsened and he was admitted to the intensive care unit because of kidney failure followed by a brain aneurysm and coma. At the time, I did not know what to think, but the worst feelings came over me. I was afraid I would never be able to say goodbye to my father and tell him that I loved him.
November 19, 2010, the eve of my 15th birthday, I watched my father take his last breath at 04:20
the death of my father touched me emotionally. He was my best friend. We were inseparable! My year freshmen high school was one of the most difficult moments of my life. His death made me realize that my life would never be the same.
Any implications of the death of my father
the death of my father greatly affected our family financially. After three years of treatment, our economies were completely exhausted as he was treated and moving at MD Anderson.
My father did not have adequate coverage for life insurance. I had to grow up quickly and work to help my mother.
My mother was faced with medical expenses and major repairs of the house. The exterior walls of the house units, fireplace and leads in the attic were holes. Rodents were in the attic and walls of the house. My mother did not work so she could take care of my father.
My father did not have adequate coverage for life insurance. I had to grow up quickly and work to help my mother.
If my father had life insurance, we would not be in the position we find ourselves today. His death has made my future plans to attend college even more difficult to achieve. With the values that my parents taught me, I have worked hard to achieve the high academic achievements and was inducted into the National Honor Society. Recently, I was accepted into the Texas A & M University. Life Lessons I received a scholarship that helps me reach my college dreams.
Life would certainly be different if my father was always there and without cancer. However, this is not the case, and my only hope is that I would be blessed with financial assistance to continue my educational goal. With all that I went through with my father, he inspired me to become a doctor of radiology. With this measure, I hope to help others in similar situations to those of my father. I am a strong person and better today because of all the obstacles I have overcome. I learned the importance of life insurance is to a family and at the age of 18, I bought my first policy.
You can help students like Brian make their dream of a college education is realized by making a donation to the nonprofit Life studies scholarship fund Lessons. Donate here .
When life hands you lemons of ...
Only 19 days after the celebration of my 10th birthday, my mother died. Although I grew up almost half of my life without my mother, his words of encouragement about adversity-one of the many life lessons she shared with me echo my memories of her: "Prepare -you to make lemonade out of the lemons of life. "
as I matured, I became more aware of how his death 
acted as a catalyst for some of the challenges and burdens of my life. Specifically, I recognize now the additional costs resulting from his death: loss of income, funeral expenses, the need for after school to take care of me and a change in the professional career of my father who brings less responsibility, travel and allowance to stay close to home to take care of me
has omission key
ultimately, these financial burdens have been compounded by a key omission in the financial plans my family. my mother did not have any life insurance
other unpredictable events still affected current financial situation of my family :. providing care and support to my sick grandmother my father was unemployed for several years due to the global economic recession. As a result, we were forced to sell the house I grew up to raise money to survive.
No one can put a value on a mother. Yet if the financial plans included my family had the key ingredient of life insurance for my mother, the financial situation of my family and my academic career being now be safer. The benefits of this would have provided coverage for the payment of the funeral service, the cost of my care and supervision over the years, my college tuition and kept us in our house.
Peace of Mind
ultimately, the financial benefits of life insurance would have brought tranquility and peace of mind; thus, provide key ingredients for the lesson my mother regarding make lemonade-allowing me to finish my degree in psychology to help other grieving the loss of a parent be even more soft.
Editor's note: Hannah was the 2014 Grand Prize winner of the Test Life Lessons Scholarship Program, and received a grant of $ 15,000 to help her finish her studies. You can watch the video of his story here.
6 reasons you would get turned down for life insurance
The most common reason that people fell for coverage of life insurance is because " they have a specific health problem, but it is not the only reason. I would cover the top ones and you know what your options might be.
1. You have a specific health problem. For example, someone who has cancer or who has had a recent heart attack could be reduced to a traditional life insurance policy. There is, however, people who are turned down for life insurance for health reasons because they applied the wrong insurance company.
Not every life insurance company deals with life insurance high risk, so if you have a health condition such as diabetes, I recommend that you work with an insurance agent high-risk life that can help to understand what the best plan of action is approved you for life insurance. If you can not get approved for a traditional policy, there may be alternatives, such as a staggered death benefit policy.
If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you.
2. You participate in high risk activities. While most insurance companies insure divers, for example, depending on the type of diving you do (water free vs cave diving), the number of times you dive a year when you dive and how deep you dive.
If you are traveling abroad or living abroad for some time of the year, some insurance companies will not want to insure you. actively deployed military may struggle to get approved for insurance, unless you work with specific insurance companies.
3. There are specific financial reasons. to get approved for life insurance, there must be a financial justification. For example, a person earning $ 25,000 per year would probably not qualify for a $ 1,000,000 life insurance policy, since you can generally get coverage from around 10-30 times your annual income, depending on your age. If you do not have an income, but your spouse does, you can usually get as much coverage as your spouse. If you have no income and can not financially justify the need for life insurance, you may get declined for a life insurance policy.
4. You have declared bankruptcy. If you have filed a Chapter 7 bankruptcy, you will typically get declined for coverage until the proceedings were dismissed for at least 12 months. If, however, you're in the middle of a procedure or 11.12 Chapter 13 bankruptcy, you may be able to qualify for coverage if you make regular debt payments.
5. You had a DUI (driving under the influence). If you have had more than three DUIs in the last 10 years, each insurance company deny you. However, if you have one or two DUIs in the last 10 years, some insurance companies refuse you while others may not. If you have been denied due to a DUI, it is possible that you have applied with the insurance company bad.
If you abuse drugs or alcohol now, you will have denied life insurance. If however you have been drug free for three years or more, or have stopped alcohol abuse for over two years, you should be able to get approved for a life insurance policy.
6. You have a criminal record. The difference between an approval and a fall is generally dependent on a couple of factors. First, how long it has been since you have been convicted, and the second type of conviction that he was. If you have had several crimes, you'll probably decreased. If, however, you had a crime, or one or two offenses, you may be able to get approved for coverage, depending on how long ago you completed probation.
If you are in any of the above situations, in collaboration with a specialist in high-risk life insurance is the key to your better chance of getting approved for insurance life.
No life insurance Meant Learning to No
[ Editor's Note: John received a scholarship of $ 5,000 Life Lessons for this test it submitted in life happens. We thank him for sharing his story. ]
I was 4 years old when my father was diagnosed with lung cancer in the terminal phase in April 00. He died two months later on 10 July. My life would be changed forever.
I only remember bits of my father, not as much as I would like, but there are pictures of him 
in our home and in family albums, and my sincere mom stories which help with my memories.
My mother never remarried, and I'm an only child, so it was just the two of us for the last thirteen years. She never let me feel sorry for myself, but instead we celebrated the life of my father. Watching my mom working so hard to give us a good life taught me that no matter what life throws at you, you can overcome and soar.
My father did not have life insurance, and life after death was a major financial struggle for my mother and me. My mother worked all the time just to pay the bills and keep the house my father built for us. Life was hard, and there was the constant threat of losing the house.
From a young age, I learned to do without, and this soon became the standard. I worked hard in school and around the home to help relieve some of the enormous stress and burden on my mother. Even when I was very young, I could see how stressful and difficult life was for my mother, and I did not want her to have to worry about too.
My father did not have life insurance, and life after death was a major financial struggle for my mother and me.
life insurance would have certainly helped to get us back on our feet after the death of my father. It would have helped pay for my mother to go back to school and helped with the mounting bills. It would have eased the stress that comes with worrying about how to pay for groceries and bills. Life insurance would have been a godsend. I learned that unexpected, and sometimes change lives, things happen in life and life insurance can match the security and peace of mind. It is a necessity!
My mother hated working long hours because it meant that I would be high in the center and eventually become a key to child. She could not bear the thought of that! She quickly made the painful decision to spend our savings to go back to school and get a teaching degree and teach from. However, teachers' pay is low and did not follow the cost of living, so that we still live paycheck to pay-check, who often go without.
We could never get caught up financially.
If my father had bought life insurance, things would have been very different for me and my mother. Because there was no life insurance, we could never get caught up financially. During all these years, after paying the bills each month, there was nothing left over to save for college, or anything else for that matter. Now, the college looked me straight in the face, but there is no money for it.
My mother taught me the value of education for example, and I worked hard to overcome the difficult moments and excel in school. I was accepted to one of the best engineering schools in the country, Texas A & M. I hope you will consider me for a scholarship Life Lessons, and if I am selected, I will continue to work hard to succeed in life. Thank you for allowing me to share my story
[ 2015 Update John :. Much has happened since I received the scholarship Life Lessons it a year ago. I finished my first year as an engineering student at one of the best engineering schools in the country, Texas A & M University. My future is bright and I am excited about life! The Life Lessons scholarship played a big role in putting me on the path to achieve my dream of becoming a petroleum engineer, and I am eternally grateful. I am now 19 years old and he was 15 years since I lost my father to cancer. It was pretty hard to lose my father, but because he had no life insurance, financial struggles affected my life in a way that I imagined. Life insurance is only important if you need to use it, but the kicker is, you never know when the time is. My father was young and healthy and do not think he needed life insurance; however, life could have been very different if he was thinking of buying a life insurance policy. ]
Disability insurance saves a single mother of financial ruin
What discipline has to do with happiness in retirement
Substantial changes in the retirement age and lifestyle are on the horizon for us , according to Northwestern Mutual 2014 planning Study and progress. People expect to work longer, but a significant number will be by choice rather than necessity. Other and there are many of them-aren't so lucky and do not feel they have the luxury of choice
For retirees :.
- The average age of retirement was 59
- The vast majority (72%) say they are completely removed from work
for those still working:
- the average age they expect to work up is 68 (almost a decade longer than retirees study)
- almost half (45%) say they will continue working in retirement, not because they have to but because they want
- a considerable number of other people who are still working are either uncertain when they retire, or know they do not have much choice
- one in five (21%) do not know how many years he or she will spend in retirement
- More than one in 10 (13%) think they will never be able to retire
- Nearly four in 10 (38% ) aged 60 and over believe they will have to work until 75 years or more before you can withdraw
the research also found a gap between expectations and experience. Only 37% of adult workers expect they will be happier in retirement than they are now. But 84% of current retirees say they are happy in retirement, and 60% say they are happier now than they were when they were working.
Seventy percent of retirees describe their lives as "fulfillment", and a focus most on health and fitness and staying active with charities. But half of retirees saw health spending increase significantly in retirement, and among them 45% do not anticipate these expenses.
This highlights the need for planning. In findings published earlier by Northwestern Mutual, the study found a link between the discipline of an individual brings to financial planning and happiness in retirement. Retirees who consider themselves planners "very disciplined" are much more likely than non-planners say they are happy to retire (91% against 63%).
The study found a link between the discipline of an individual brings to financial planning and happiness in retirement.
Americans must take the first step to getting a handle on retirement talking to someone about their concerns. The study found that 42% of adults have never had a conversation with someone in retirement.
Research shows that retirees focus less on numbers and more on the quality of life, but quality of life needs capital to minimize financial concerns. It is possible that retirement may not be exactly what you imagined, but if you have a plan and you follow this plan, there is a good chance that your retirement will be a happy and rewarding time of your life.
Top Secret ... Millennium ... and love
Although we hope you read our blog posts every week, we know that in a busy world occurs not always, here are a few of our most popular posts this year. Take a look:
Top secret
Can anyone buy a secret life insurance policy on you? The answer is maybe, but probably not, as "it has become common practice to give a person the tracking phone call provided by the insurer or agent to verify the authenticity of the application and to validate both his income and the need to buy special insurance policy. "For when it might be possible Click here .
Millennium
2-3 Millennium intends to retire at 65, but about 70% have not started saving for retirement.
It seems that Millennials are poking their heads out of the proverbial sand to get their finances in order and to check if get a life insurance meaning. Top messages include:
5 financial mistakes millennium mark and 6 Millennium reasons should consider life insurance
What's love got to do with it
.? Well love and life insurance are actually very closely related. And it shows how blog posts: Life insurance: A love letter ..
Enjoy our wrap and let us know if you think they are top positions as well
You need life insurance at least 35! Really?
Know when you need life insurance and how it is personal, because everyone's situation is unique. That's why the advice in the article USA Today "Knowing when you need life insurance" is shocking.
In the article, Cary Guffey, CFP and financial advisor to the PNC, said that from the age of 35-55 your "need for life insurance decreases "because ..." mortgage balances start to fall as the loans have been paid for years. Meanwhile, the education savings and pension plans are probably on the right track at this point. "
"Say, what ?!"
How many 35 have their mortgage paid about or even close? Their young crowned college savings plans or even close? Their fully funded pension plan or even close? I bet if you took babies from trust funds of the equation, you can count the number of hand. And it's probably not too high for 45 years
stats could give us a clearer picture :. 80% of those 30-54 believe they will not have money set aside enough for retirement, according statisticbrain.com
The USA Today article then continues :. "This does not mean that there is no need for life insurance in this age group. There are cases where consumers could add a second home, having a child or adopt children later in their careers ... Guffey said. These unique cases require protection. "
unique? Nearly 14% of infants of mothers were 35 or older, according to Pew Research. What if you had left your life insurance "decline", and now you are 40, with a newborn, and because of a medical condition, can not get life insurance coverage
what this case: You 're a parent stays home, 35, and your spouse dies. While all these factors mortgage, education savings and retirement-plans were "on track", where would that leave you financially death?
Which of these equity funds at home, college or retirement savings-would you need to press to meet the rest of your living expenses over the long term if you still want to stay home with your kids? with your spouse died from work, how is that the pension plan get finished?
this is why the best advice is to seek your own advice. Start by getting an estimate of your life insurance needs with easy online life insurance needs Calculator. Then speak to an agent, who can guide you through your specific needs and recommend something that fits your budget.
Are You (really) Ready to retire?
- What multiple of your annual salary ending at the age of 67 should aim to save to meet basic income needs in retirement? The answer is eight times earnings, which is a conservative estimate, which assumes life expectancy at age 92 If you earn $ 100,000, you will need to accumulate at least $ 800,000.
- What is the average age at which current retirees actually say retired, Äîand what is expected age of retirement for current workers? Responses are 61 years for retirees and 66 years for those who still work in progress.
- What percentage of workers plan to continue working later life, what percentage Äîand worked after retirement? 69% say they plan to work while 25% actually worked after retirement.
- What percentage of American households are at risk of not having enough savings to maintain their retirement standard of living? 53%
- 94% of respondents said they think it, AOS important to talk about their end of life care, but only 30% actually did. Who will make those decisions when they are no longer able to do so?