Home - Health - Avoid These 6 Mistakes When Buying Life Insurance

Avoid these 6 mistakes when buying life insurance

Avoid these 6 mistakes when buying life insurance

Buying life insurance is an excellent way of providing financial security to your loved ones after you’re gone. It’s not an exciting purchase but an integral part of ensuring your family has a nest egg to depend upon if something happens unexpectedly. So, before stepping into the market to buy a new life insurance policy, you should be aware of a few common mistakes and how to avoid them:

Waiting to buy insurance
Premiums for life insurance are based on various factors, including age and overall health. For example, if you would like to secure a policy at the lowest cost, it’s ideal to make your purchase while you are still young, as rates may increase as you age or if your health deteriorates.

Buying the cheapest policy
Knowing what you get in return is essential when looking for affordable policies. Two types of life insurance policies are available – term life and permanent life insurance. While the former is cheaper, it only covers you for a period (generally 10-30 years), whereas the latter can cover you until death. So before deciding, compare and contrast different policies to find the best coverage.

Allowing premiums to lapse
Making late payments on your insurance coverage can impact your benefits. This is especially true for permanent insurance, called universal life insurance, which offers long-term guaranteed protection at the lowest possible rate. So check these caveats and implications when purchasing, and set up an auto-pay mechanism to ensure you never miss a payment date.

Borrowing from your policy
Some permanent life insurance policies allow you to borrow from them when you need money. These withdrawals may be used in any way you like, including for loans. However, it is essential to be careful when withdrawing money, as taking too much may cause your policy to lapse or significantly reduce the benefits for your beneficiaries.

Relying too much on employer-provided coverage
Companies generally make use of group life insurance policies for their workers. Here, the payouts may be considered low for your beneficiaries, and they will be unable to cover their financial needs. Additionally, these benefits cannot be carried forward; the coverage does not apply to you once you leave the company. Instead of solely relying on your employer, fortify your insurance portfolio with your insurance policy.

Hiding information from the insurance company
If you hide any information from your insurance company, they may deny coverage. When you apply for life insurance, you will be asked for details regarding your health and lifestyle to identify your risk level. This data is verified against your medical records, motor vehicle reports, and other third-party sources. If a claim is related to the information you did not disclose, your insurer may not pay or settle the claim.

Buying a life insurance policy is a complicated affair. Working with a financial planner to discuss how it fits into your portfolio before investing may be ideal. In addition to this, remember to shop around and speak to your friends and family for recommendations to get the best policy rates.

Previous Read

Understanding arthritis – A common joint condition

The joints are constantly working while we move our limbs, so, understandably, people may develop certain joint conditions that cause pain and compromise mobility, especially with age. One of the common joint conditions is arthritis, which leads to joint inflammation and mild to severe pain. While there are several types of arthritis, the two most common types are rheumatoid arthritis and osteoarthritis. Stages Rheumatoid arthritis has four stages: Stage 1: At this stage, inflammation occurs inside the joints, and swelling, stiffness, and joint pain are the common symptoms. Stage 2: The inflammation of the joint lining, synovium, aggravates at this stage and results in cartilage damage. The affected joints’ range of motion is also compromised, causing pain and discomfort. Stage 3: At this stage, the severity of the joint condition increases, and it leads to bone damage. This results in more pain, loss of mobility, and weakness of muscles. The bones rubbing against each other can cause bone deformity as well. Stage 4: This is the final stage where the joints stop functioning completely. It leads to more pain, stiffness, and swelling, and the bones may even fuse, which is known as ankylosis. Osteoarthritis also has four stages of progression: Stage 1: Wear and tear may affect the knee joints, and minor spur growths on the affected bone can also be seen, but the condition does not cause too much pain at this stage. Stage 2: The bone spur growths increase and cause pain, and the knee joints become stiffer. Stage 3: This stage is characterized by joint inflammation leading to increased pain and stiffness. Walking can also cause popping sounds in the joints. Stage 4: The space between the bones in the joints becomes very narrow, causing the cartilage to wear down. Also, a chronic inflammatory response caused by the breakdown of cartilage aggravates discomfort and pain. Diagnosis of arthritis These joint conditions can be diagnosed using several tests. A physical examination reveals whether a patient has red, warm, and tender joints, and this test also helps examine the fluid around the joints. A rheumatologist can analyze the level of inflammation in the joints to determine the type of arthritis an individual is affected with. Also, blood tests are undertaken to check for antibodies like anti-CCP, rheumatoid factor, and antinuclear antibody. In addition, X-ray, CT scans, and MRI are also performed to check the condition of the cartilage and bones. Prevention of arthritis A family history of joint conditions like arthritis or aging can increase one’s risk of developing arthritis, but making certain lifestyle changes can also help lower the chances of developing the condition. To start with, one should include more foods with omega-3 fatty acids in their diet as these healthy fats are anti-inflammatory. One should also exercise regularly, keep their weight under check, reduce stress on their joints, and try to avoid injuries. Also, if one notices any symptoms of arthritis, they should consult a doctor immediately as early diagnosis goes a long way in managing the condition effectively through timely treatment.

Next Read

6 key early signs of developing autism

Autism is a progressive cognitive disorder that primarily impacts a child’s ability to communicate and interact daily. The condition develops and progresses early on with symptoms affecting behavior and communication, impacting a child’s normal growth. Children also develop limits and deficits in the necessary social skills for bonding and emotional development. The condition has no cure, but identifying the symptoms early and planning prompt treatment can improve the long-term outlook. Slow responses and reactions Autism affects the child’s emotional development. So, what comes naturally to other children may not be the same for children who are in the early stages of this disorder. Autistic children are slow to react, hesitate to smile or laugh slowly, resist hugging or cuddling, and neglect any interest in everyday routine. The condition is imminent if babies don’t babble naturally, develop facial expressions that don’t match reactions, and avoid eye contact within the first 12 months. Social isolation After the first 12 months, toddlers and preschoolers struggle with any activity that requires an emotional connection, be it with an object or even a person. Parents must take note of their child’s preferences and interests to check if they are showing signs of distancing. Key signs include playing on their own and avoiding social contact even if another child approaches them. Children between 12 and 18 months developing autism signs show severe social isolation. Repetitive movements Abrupt and uncontrolled movements are also unusual autism signs that show up early on during the disorder’s developmental phase. Young children tend to develop hyperactivity to triggers around them that affect their primary senses. It could be sounds, lights, tastes, and smells that cause rapid repetitive movements. Children might go around in circles, rock back and forth without reason, flap their hands or feet unnecessarily, and develop unnatural movements. Speech problems Autism also impacts the child’s ability to speak, with early signs indicating unusual speech patterns. Children may speak in a monotone voice or develop disturbing responses that follow a set pattern of speech. Speech problems develop in tandem with emotional disturbances, where kids might stop responding to normal requests or give unrelated answers. One might also notice a repetition of certain words and phrases that indicates cognitive decline impacting speech. Behavioral problems Autism impacts emotional reasoning, analytical thinking, and rational thinking. So, it's quite possible for children to develop tantrums in the early stages of the disorder. These tantrums can develop as a response to changes in their routine or pattern that takes kids out of their comfort zone. Tantrums can get out of hand if these kids also start banging their arms, legs, or head on surfaces indicating self-inflicting harm. Immediate consultation is advisable at this stage. Developing unusual preferences one of the most glaring signs of developing autism is unusual preferences and interests. Young children might become obsessed with a symmetrical shape or a particular pattern of inanimate objects. If they throw tantrums when this object is removed, it is an indicator of separation anxiety. Apart from objects, young kids might even react impulsively to specific sensory cues in and around their space. It could be a particular light, smell, sound, or object that is not pleasing visibly. Preferences also extend to foods and beverages with a particular craving for one food or drink. Note that there is no set pattern for these preferences. Besides these signs, children with autism spectrum disorder are also at risk of developing gastrointestinal discomfit that result in mild to moderate symptoms. Children may experience some abdominal pain, struggle with constipation, or even diarrhea. Note that these symptoms develop in no orderly progression and worsen with the severity of the condition.

Trending Articles

01

Everything you need to know about chronic fatigue syndrome

Chronic fatigue syndrome is a condition that causes extreme tiredness and fatigue that does not go away even after resting. The causes of the condition are yet to be known. However, there are some theories indicate several factors which include: Viral infection Stress Or several factors in unison Once the symptoms are identified and the condition is diagnosed, treatment can be taken to get relief from symptoms. Understanding all aspects of the condition, including its stages, diagnosis, symptoms, and prevention can help in managing it effectively. Different stages and phases of chronic fatigue syndrome The patients of chronic fatigue syndrome undergo four phases of the condition. Their response towards the treatment can also vary greatly depending on the phase that they are going through. These phases are: Phase I: Crisis or trauma Phase II: Stabilization Phase III: Resolution Phase IV: Integration During all the phases, a chronic fatigue syndrome patient undergoes some physical, psychological, and social changes that are easily noticeable. Diagnosis of chronic fatigue syndrome No one test can diagnose a patient with chronic fatigue syndrome. This is because the symptoms of chronic fatigue syndrome resemble several other health conditions. Therefore, a lot of patience is required for the diagnosis of the condition.
02

What you should know about depression

Depression is a mental health disorder that results in bouts of continuous sadness. A clinical mood disorder can lead to physical and emotional suffering, and can also change one’s behavior. Frustration, anger outbursts, lack of energy, sleep issues, anxiety, disinterest in eating, concentration issues, and suicidal thoughts are also common symptoms of this disease. Depending on its severity, the illness can challenge one to lead a normal life, too. Diagnosis There are many different methods a medical professional can use to determine if one is affected by depression. Psychiatric evaluation is the most common way to determine if one is suffering from the disease. The mental health doctor will interview the affected person to understand their thought process, mood, and other symptoms. Some doctors may compare symptoms with the ones listed in the Diagnostic and Statistical Manual of Mental Disorders (DSM-5). This makes it easier for them to understand the condition. A physical exam is also performed to determine if any physical health issue is caused due to this mental condition. Stages of depression Depending on the level of sadness, the stages of depression can be divided into five stages: Stage 1 Even though the signs of mental disease are hard to miss, for most people, it starts with denial.
03

Important things you should know about diabetes

The pancreas is an important organ in our body that produces insulin. It is required to help the glucose pass to our cells from the blood. That is how energy is created, which is the fuel we require to function. When the pancreas is unable to produce insulin, the glucose level in one’s blood increases. This can result in diabetes, which can lead to organ damage. Types of diabetes There are mainly three kinds of this disease. Type 1 diabetes It can be most commonly seen in children and adolescents. Having said that, it can occur at any age. The insulin production of one’s body decreases with this condition, and they require daily injections to control their glucose levels. Type 2 diabetes Around 90% of people who have diabetes suffer from this type. It is most commonly seen in adults and results in one’s body failing to properly use the insulin that is produced. It can be kept under control by maintaining a healthy lifestyle, but one may also require medicine in the advanced stages. Gestational diabetes This can be seen during pregnancy if the glucose level in one’s blood increases. It can affect both the child and the mother.
04

Gout – Diagnosis, stages, and prevention

Gout or gouty arthritis is a form of arthritis that commonly occurs in the joint located at the base of one’s big toe. It can also be seen in other joints and results in swelling, sudden pain, and tenderness. It can happen to anyone and occur at any moment, even suddenly in the middle of the night. The good news is that it can be prevented and treated. Diagnosis of gout Multiple medical tests can be used to determine if one has this form of arthritis. Below is a list of the most common tests. Joint fluid test The doctor uses a needle to collect fluid from one’s joint and test the same under a microscope. If urate crystals are found in the fluid then they have the condition. Blood test For gout detection, the doctor may suggest a blood test. The amount of creatinine and uric acid present in one’s blood indicates if they have it or not. However, the result of the blood test may not always be conclusive. X-ray imaging If one has joint inflammation, the doctor can use X-ray imaging to determine if it is caused by any other reason or gouty arthritis. Ultrasound A musculoskeletal ultrasound test is used to determine if one has gout or any other form of arthritis.

Our Blogs

Stages, diagnosis, and prevention of ADHD

Stages, diagnosis, and prevention of ADHD

ADHD, short for attention-deficit/hyperactivity disorder, affects children worldwide, and this also often carries on into their adulthood. Some of the different problems faced by kids suffering from ADHD include sustaining attention for a long time, impulsive behavior, and hyperactivity. There might be other problems associated with ADHD, like low self-esteem, low grades in school, and difficulty in keeping up with relationships. More often than not, symptoms of ADHD are seen to have decreased with age. However, there are cases wherein ADHD symptoms never subside. Levels of ADHD There are three different levels or stages at which ADHD can affect individuals. They are: Predominantly inattentive ADHD This level of ADHD may be related to missing details very easily and getting distracted often. Also, one may get bored very quickly. One has difficulty in processing new information, and there is also the tendency to not listen properly. One might not be able to follow directions very clearly and also lose things like pencils or papers. It has been observed that girls are more likely to get inattentive ADHD than boys. Predominantly hyperactive-impulsive ADHD This is mostly associated with symptoms like restlessness and difficulty with sitting still. Kids suffering from hyperactive-impulsive ADHD have a tendency to talk consistently, and it’s less likely that they will engage in quiet activities.
Read More
Understanding skin aging

Understanding skin aging

Changes in the skin are one of the biggest signs that the body is aging. But how the aging of skin takes place depends on a lot of factors such as our diet, lifestyle habits, stress levels, and the like. For example, if you smoke regularly, it can lead to the production of free radicals, which damage healthy skin cells and cause wrinkles. So, let’s dig a little deeper into skin aging so that you can diagnose it and prevent it for as long as possible. Stages of skin aging As you age, you will start noticing changes in your skin. These changes take place in phases or stages. Learning about these phases can allow you to take better care of your skin and stay away from everything that can prove to be harmful to it. So, these stages of skin aging are: Stage I – Between 25 and 35 years This is the time when your skin will look extremely voluminous to you. But, this is also the time when the early signs of aging will start to appear. Therefore, it is important that you follow a good skincare regime. Some wrinkles can start appearing on the forehead. Lines can also start to appear on the face when you make normal expressions such as laughing, smiling, or frowning.
Read More
Stages, diagnosis, and prevention of addiction

Stages, diagnosis, and prevention of addiction

There are three terms that one can relate to addiction – reward, motivation, and memory. Addiction is when the body craves a behavior or substance in an obsessive pursuit of a reward. The person will have little concern about the consequences of the particular behavior or substance. Things to note in case of addiction Some of the attributes that one can relate with addiction include an inability to stay away from the substance, lack of self-control, an outrageous desire for the substance or behavior, ignorance towards the problems that the behavior might be causing, and a growing tendency to ignore the emotional response. Addictions have been known to interfere with daily life and there are also cases of relapse and remission. The complications of addiction can be physical, emotional, as well as financial. Stages of addiction There are five main stages of addiction. These include: Experimentation Every addiction starts with experimentation and during this stage, one cannot understand that this is the beginning of an addiction. One cannot be sure that this will turn into something serious, and hence no necessary steps are taken at this stage. A simple way to find out how this will turn into addiction is understanding the reason for experimenting and how often a person experiments with new substances.
Read More
Top debt settlement companies in the USA

Top debt settlement companies in the USA

Incurring debt is really common in this age and era as everything has become extremely expensive, from college education to owing a house. If you ever feel that your debt is too large and you may not be able to pay it in time, then you can seek the help of a debt settlement company. These companies essentially communicate with your creditor to try and lower your debt and the rest of it is typically forgiven. Given below is a list of the top 9 debt settlement companies in the USA. National Debt Relief If you have USD 7,500 or more in debt, then the National Debt Relief can be a great choice for you. It is one of the most prominent debt settlement companies in the country. The initial consultation is offered for free, but you will have to pay 15-25% of the settled debt amount as a fee. Freedom Debt Relief This a dedicated company that offers debt relief services to people who have at minimum USD 7,500 to USD 10,000 in debt. 15-25% of the settle debt amount is charged as fee once a settlement is negotiated, and in return, they offer the possibility of settling the debt within 24-48 months.
Read More
Allergies – Stages and prevention

Allergies – Stages and prevention

The immune system of our bodies is constantly fighting against viruses and bacteria to keep us healthy. However, in certain cases, the immune system may also end up fighting some substances that are not always harmful. When this happens, you experience an allergic reaction. The allergens are the substances that cause the reactions. With a little carefulness, you can prevent the allergies effectively. The allergic development Even though an allergic reaction can vary from person to person, it generally progresses in the same five stages: Stage 1 The allergen enters your body through food, air, or touch, and contact the cells in your body. Stage 2 Your immune system creates immunoglobulin E, which is a type of antibody. Stage 3 This antibody enters your gastrointestinal tract or respiratory tract but does not do anything. Stage 4 The next time when you are exposed to the same allergen, the immunoglobulin E treats it as a harmful substance and reacts with it. Stage 5 24 hours after the reaction, the immune system cells move towards the areas that were affected to release certain chemicals to treat it. How to diagnose allergies Your allergies can be diagnosed by a doctor. Before visiting him or her, you must recognize the symptoms of an allergic reaction.
Read More
Anemia – Symptoms, types, and prevention

Anemia – Symptoms, types, and prevention

Anemia is a kind of medical condition in which an adequate amount of oxygen fails to reach one’s body’s tissues owing to the deficiency of red blood cells in their body. When one suffers from this condition, their body feels weak and exhausted all the time. Symptoms There are different kinds of anemia and each of them has a cause of its own. It can have short-term or long-term effects and the disease can be mild or severe in nature. If one sees any symptoms suggesting that point toward anemia, it is essential to consult a doctor immediately. The signs vary from person to person and depend on the cause or their origin. Sometimes, the chronic disease causes anemia and the doctor ends up diagnosing the disease but the fact that one is suffering from anemia does not show up in the test. Sometimes, there are mild symptoms and then, with time the symptoms become more prominent indicating that the disease has penetrated one’s body more deeply. Some of the commonly found symptoms include breathing difficulties, fatigue, pale skin, chest pain, headache, dizziness, hands and feet turning cold, irregular heartbeat, and pain in the chest . Types of anemia Iron deficiency anemia This is the most common kind of anemia, which occurs due to iron deficiency.
Read More