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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.

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5 mistakes to avoid while booking concert tickets

Booking concert tickets requires careful planning. However, the buying process has become easier with the availability of tickets online. But one can still end up making errors while booking tickets online, making them lose money or their favorite seats. One should avoid overlooking the booking details or losing their patience when trying to get tickets. Here are some other crucial mistakes one can make when buying concert tickets and how to avoid them: Overlooking key detailsBefore one tries to book concert tickets online or offline, they must get all the important information on the concert. This includes the date of the concert, the venue, and the arrangements one can expect. If one misses out on such details, they may end up booking the ticket and realizing they can’t make it on that day. This may either lead to the ticket being wasted or being resold on other websites. So, one must always check the concert details thoroughly and consider their own schedule and budget before buying tickets.Not creating an account beforehandSome websites prompt the user to create an account to buy the tickets. However, because of the fear of scams, people usually avoid creating accounts on such platforms till the last minute. Further, when the ticket sale is announced, the users lose valuable time in creating the account and are often disappointed at the unavailability of the preferred seats. So, one should check the legitimacy of the particular website, create an account before the tickets go live (preferably a couple of days prior), and then quickly book the tickets as per their preferences. Not verifying the platform’s credibilityToday, one can choose from multiple platforms to get concert tickets. However, the chances of all websites being legitimate are scarce. Some websites are often designed to scam people and take their money. So, when one does not verify that the website is genuine and legitimate before placing an order, they are exposed to the risk of losing a lot of money. So, one should look up customer reviews of the websites and even seek recommendations from friends and family for reliable booking platforms. This can help one save their hard-earned money from scammers and also make their ticket-buying experience hassle-free. Not using multiple devicesWhen one tries to buy concert tickets online, they use just one device and end up disappointed. This happens because the concert tickets sell out incredibly fast once announced. However, one can double their chances of booking tickets if they ask a friend to log on to the platform at the same time on a different computer or phone. This could help one ensure that if they are unable to get seats on one device, they could try the other one. Missing great offersWhen one’s favorite artist comes to town, they may jump at the chance to book the pre-sale tickets. However, booking tickets without checking for offers and discounts leads to overspending. So, to avoid making this mistake, one should check out offers on social media, booking platforms, and the organizer’s page beforehand to save money on the purchase.

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6 tips to grow social media followers

With the advent of online platforms, the modern era has become a golden period for exchanging ideas. Individuals worldwide are creating social media profiles, reaching out to the global masses, and becoming immensely popular as online influencers. However, an abundance of online content now poses a challenge for individuals to create their unique identities. So, on that note, here are a few tips to increase one’s social media followers: Optimize social media profilesOptimizing one’s social media profiles and ensuring visual appeal can considerably enhance visibility. Users can optimize their social media profiles by uploading a professional logo, picture, or video of the correct dimensions and using this picture across different social media platforms. This step ensures that individuals recognize one’s social media profile instantly, regardless of the platform. Another strategy to optimize one’s social media profile is to target specific keywords relevant to the nature of the content being posted and add these keywords to different parts of one’s profile, including the bio and landing pages. Understand when to upload postsThe best time of the day to upload social media content on one’s profile depends primarily on the social media platform being leveraged and the social media behavior of one’s target audience. For example, one can utilize social media analytics to understand audience behavior and post content accordingly to increase one’s reach and gain more followers. Partner with other influencersStatistical analysis suggests that 93% of marketers have used influencer marketing in their campaigns. Today, influencer marketing is considered an essential marketing strategy. The strategy involves a collaboration between social media influencers and brands, often to garner more reach or promote one’s products and services. For example, one can invite other popular influencers, particularly those posting similar types of content, for a casual live chat session or a tutorial video. A "Who's Most Likely To" game session with a popular influencer is another great influencer marketing strategy. Follow a systematic content calendarA content calendar is essential to help influencers organize their posting dates and times and avoid last-minute confusion. Moreover, it can help one spread their content, preventing them from sharing too many posts at a time, followed by a dry spell. The key is to post consistently but avoid uploading posts for the sake of it. Preparing a weekly or monthly content calendar can help one post meaningful content regularly and gain more followers. Follow trends but avoid jumping on bandwagonsUploading posts on current trends can considerably increase followers and engagement rates. However, it helps to decide what trends should be leveraged based on the type of content that can be generated around them. For example, following the bandwagon and uploading contrived posts on current trends can reduce one’s appeal on social media. Ensure active engagement with target groupsSocial media is never a one-way street. Communicating with one’s target audience helps influencers gain massive appeal and increase their followers rapidly. Today, several innovative strategies exist to interact with other users besides replying to comments. For example, influencers can conduct live #AskMeAnything sessions and answer questions asked by viewers. Asking questions or taking polls on one’s stories and sharing the results later is another fun way to increase engagement rates.

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What you should know about depression

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Important things you should know about diabetes

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