Category Archives: Personal Finance

Surprising Factors That Can Affect Life Insurance Premiums




Life insurance is important when it comes to protecting your family, and making sure they are secure in the wake of your death. However, sometimes budgeting in the costs of life insurance can be tough, especially if one of these surprising factors is boosting your premiums.

We have compiled a list of five surprising factors that might be affecting your life insurance premiums:

Where you travel

If you are an adrenaline junkie who loves traveling the globe looking for enticing adventures in dangerous locales, it could definitely have an impact on your premiums. Whether you love skydiving over The Moab or surfing exotic waves in Bali, adventure travel is a red flag for many insurance companies.  Even without the extra activities, insurance companies follow the U.S. State Department’s travel warnings, so travel to one or more of the countries on the list might lead to higher premiums and, potentially, a declination of coverage.

Co-Workers Health

If your company offers group premiums they may be higher if the average age and overall health of your coworkers is a red flag. If you work in a younger and healthier company, the costs of your premiums will reflect that. If your company has an exercise program and incentives this can be a huge benefit, as not only does it promote health, but it can also lower life insurance premiums

Bad Credit

Bad credit can have a negative impact on more than just your car and home loan payments or eligibility. Bankruptcy can also leave you with a high life insurance premium, as bad credit makes you a high risk individual.

Driving Record

If you like to drag race or have a history of drunk driving, your life insurance premiums are going to be much higher. Luckily your driving record is something you can actively work on., Driving safely is always a better option as it will not only decrease your auto insurance, but also your health and life insurance – it’s the trifecta.

Being a Man

According to the World Health Organization, American women live 4.6 years longer than American men, on average. However there are many other factors including men’s likelihood of having a more dangerous occupations, more dangerous hobbies, and societal risk including the fact that men have a higher exposure to homicide and suicide. All of these are reasons why life insurance policies are more expensive for men than women.

While some of the factors that affect life insurance premiums can be controlled, others are out of your hands. That’s why it is best to compare rates and be sure that you are getting the very best policy for your money.


About 

In my 20+ years as an independent life and disability insurance broker, I have personally assisted thousands of clients with their life and disability insurance needs. As a national broker, I am licensed to write life and disability insurance in all 50 states and the District of Columbia.

    Find more about me on:

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Article source: http://www.lifeinsure.com/surprising-factors-can-affect-life-insurance-premiums/

Life Insurance For Single Parents: Three Things to Consider




Single parents have unique concerns that they must address on a daily basis – this is especially true when choosing appropriate life insurance for single parents. Financial planning experts often suggest that single parents choose a plan that can provide for their child or children through high school and beyond, if necessary. Not all insurance policies address the concerns of single parents, and that’s why it’s important to do some research and find the right policy for your situation.

Here are a few things that you might want to consider when shopping for life insurance for single parents:

  1. How quickly can you get life insurance? With term life insurance, you can often get it rather quickly. That can be especially important for single parents.
  2. Would you pay more with your employer’s insurance if you can get it? Not everyone can get life insurance through their employer, and even for those who can, the price may not be right. These policies are based on other individuals’ health profiles, not your own specifically, so you may end up paying more with your employer’s insurance plan. Additionally, the amount of life insurance you can get through your employer might not be enough to meet your needs. You might also want to supplement it with another policy.
  3. How old are you? This question is important because term life insurance is typically cheaper when you are young and in good health. If you obtain term life insurance for single parents when you are young, you can lock in a lower rate.

No one wants to think about their death, especially when they have children, but with the right life insurance you can go about your daily business without the worry that your children won’t be taken care of, should the unthinkable happen. At LifeInsure.com, we want to help our customers, including single parents, to have peace of mind that their loved ones are taken care of.

 

About 

In my 20+ years as an independent life and disability insurance broker, I have personally assisted thousands of clients with their life and disability insurance needs. As a national broker, I am licensed to write life and disability insurance in all 50 states and the District of Columbia.

    Find more about me on:

  • googleplus

Article source: http://www.lifeinsure.com/life-insurance-single-parents-three-things-consider/

Work, cycle, save: How to cut transport costs and get fit

Picture the scene – you are driving around the staff car park desperately looking for a space as the clock ticks and you slowly accept the fact you’re never going to make it to work on time. You are going to be late (again!) and are spending a small fortune in used petrol and extra parking time as you cruise round the same patch of tarmac hoping for somewhere to squeeze your motor.

You are stressed beyond belief and you haven’t even begun your working day – sound familiar?

Unfortunately, many people find the daily commute to work a stressful experience that burns through as much money as it does carbon. Even public transport costs have grown considerably over recent years to make this option less attractive to commuters and that means that many feel they have no choice but to brave the traffic jams and busy car parks. But could they be wrong?

Cycle and save

Choosing to commute in an environmentally friendly way to work doesn’t just mean joining the masses on public transport – it can also mean grabbing a bicycle and pedalling your way to work. Not only will you avoid the stress of traffic but you’ll save money, get fit and (most importantly) never struggle to find a parking space again!

If you are a business owner, why not promote the idea of cycling to work amongst your employees? They might be dubious at first but when they realise how much money they could save they will soon change their tune. You can even earn extra boss brownie points if you sign up to government supported schemes which will offer savings to members when they buy cycling and safety equipment – helping them go green without pushing their bank balance into the red!

Schemes like these are quick and easy to set up too and you will find that the organisation providing the service will take care of all the administration and paperwork so you don’t need to worry about it. You could also remind your workers that as well as saving money, they will lose weight and get fit – something which can incidentally boost their morale and increase productivity.

By encouraging your staff to cycle to work you can increase the likelihood of them arriving on time and eradicate daily tales of traffic jams, busy car parks and accidents on the roads. Your staff will feel rejuvenated and energised from their morning cycle, boosting morale and improving the office environment for everyone.

You can even cycle to work yourself to set a good example – after all, why should your employees get to have all the fun of a stress-free commute to work each day?

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