Life insurance can be an important component of a financial plan, but it’s important for you to do your homework to ensure that you get the policy you need.
Here are 10 questions to ask yourself:
Do you need life insurance? The primary purpose of life insurance is to protect the people you leave behind – your spouse, children, or others who depend on you.
Can you get coverage? Be upfront when applying for coverage: If you don’t, your claim may be disallowed, and your loved ones left with nothing.
What kind of life insurance is best for you? Pure term policies aren’t investment vehicles – you pay a premium, and the policy pays your beneficiaries a certain amount when you die. Whole polices combine term policies with an investment product, and build cash value.
How much do you need? Consider your family’s income needs over the course of your policy. This includes expenses such as mortgage payments, college tuition, medical bills, and funeral costs.
How much can you afford? Many people who buy whole life insurance often buy too little, leaving themselves underinsured.
What length should your term be? The length of your term will depend on your long-term income outlook.
Do you want any riders? Disability and other waivers are available; be sure to look into them.
Can you to convert the policy? If you outlive your term life insurance policy, you may want to convert it near the end of the term so you won’t need another medical exam to qualify.
Is the insurance company stable? Life insurance companies are usually in excellent financial health, but you should still check out their rating.
Do you know how to shop for insurance? Of course, you can buy life insurance on the Internet, but for a policy that’s tailored to your needs, consult your insurance advisor, who is familiar with your financial situation and your goals.
Are You Being Served? (And Do You Really Want to Be?)
Self-checkout options first appeared in grocery stores more than a decade ago, offering shoppers a “quick” and “easy” alternative to lining up. Now, self-serve alternatives appear everywhere, from fast food restaurants to movie theatres. But do they truly offer consumers ease, speed, and convenience? Maybe not.
In a recent episode of the television show Marketplace, shoppers were provided with identical grocery lists; some were asked to use the self-checkout, while others lined up for a cashier. Interestingly, the cashier was faster, and made fewer mistakes. The show noted that mistakes are common among self-serve customers, who often enter the incorrect code or push the wrong buttons. Employee input is required to fix the mistakes.
The technology does offer companies proven benefits. As Marketplace reported, an early experiment by McDonald’s found that consumers spent an average of 30 percent more when using self-checkouts, possibly because they might be too embarrassed to upsize their order in front of the cashier.
Of course, the self-serve option saves money that would otherwise be spent by businesses to staff checkout lanes, supply desks, and kiosks. According to a report on self-service published by the Information Technology and Innovation Foundation, the cost of an airline staff member check-in is $3. The cost of a passenger checking in via a self-service kiosk is 14 cents.
For many consumers, it’s not about time savings or convenience; it’s about doing it yourself. These days, many shoppers prefer to take control of the process and navigate the checkout or check-in process by themselves.
How to Plan the Best Vacation Ever
Summer vacation time is approaching, and now’s the time to start planning. Vacations aren’t a luxury; they’re crucial. Spend the time, and money, to make it great for everyone. Book good hotels. Consider nonstop flights. Fill your itinerary with must-see items.
Consult the kids. Going on vacation is a team effort. Choose activities with everyone – including you – in mind. Go to where the locals are and enjoy what they enjoy. The kids will love the energy, and you’ll love giving them the chance learn about other cultures.
Strike up conversations with strangers; it’s amazing what you can discover from other travelers.
Be active. We all spend too much time in front of screens. Swim. Snorkel. Surf. The key to your relaxation-and rejuvenation-could be breaking a sweat.
But embrace the quiet, too. Not every trip should be a meticulously planned whirlwind educational tour. Plan some time to be alone as a family. It’s something everyone will enjoy…and remember.
Mobile Apps ‘Weigh In’ on Your Health and Fitness Status
Mobile health management is an emerging field in medical treatment that uses technology to improve health outcomes. Among the many new technologies are smartphone apps. According to a 2015 Pew Research Center poll, 68 percent of Americans own a smartphone, and we’re turning to smartphone apps to monitor our fitness. For example:
S Health monitors steps and water intake and even your heart rate; just hold your finger to your phone’s sensor.
The Moves app tracks your activity calories and provides an “automatic diary of your life.” Are you most active in the morning? Consider taking a walk in the afternoon.
Iphone has the heart health app that measures steps for you
Other apps have been developed to help manage chronic diseases and other issues:
BlueStar is one of several mobile applications that can help diabetics manage type 2 diabetes and track medications, exercise, and food intake in one easy application. Users enter their glucose levels, which the application monitors, and then receive personalized coaching from the app. It can even offers decision support to the prescribing physician.
Cozi manages family activities, including doctor’s appointments. As we age, the number of doctor’s appointments we must manage for ourselves and our spouses can become overwhelming. Cozi juggles them for you.
They’re easy to install and intuitive to use. Plus, medical and fitness apps offer their benefits with few downsides.
Lightship Insurance Provides Auto/Car Insurance, Home Insurance, Business/Commercial Insurance, Life/Health Insurance to All of Colorado, Including Denver, Aurora, Colorado Springs, Lonetree, and Vail.