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Life Insurance

Graduation: Give a Lasting Gift to Your Children

When your children graduate from school, it is an exciting yet scary time for everyone. They have the whole world ahead of them to do what they please. Whether it be heading straight to college, jumping into the workforce or travelling around the world, life is at their fingertips. But with this sense of freedom comes a great sense of responsibility – and worrying parents. Your child’s safety and protecting their future are now top priorities. So while you are debating on the perfect graduation gift for your child, why not consider something that will help protect their future? Here are a few reasons why gifting life insurance to your child is a good idea. It’s A Stable, Reliable and Lasting Gift The gift of life insurance is not going to fall apart or go out of style the next year. Unlike buying a material object as a present, a life insurance policy will be there for your children. As long as premium payments are kept up, it won’t be going anywhere for quite a while. It Provides Protection A life insurance policy is there to protect your loved ones in case of unexpected death. It is there to pay ...

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How Health IQ Can Save You Money on Life Insurance

When you want to find ways to save money, you may be tempted to eliminate some bills altogether. When considering your cable bill or the monthly subscription that caught your eye, this approach isn’t bad. Life insurance, however, is different. Canceling your life insurance policy may free up some money month to month, but you need to consider the long-term consequences. Fortunately, you can find ways to reduce your life insurance costs without impacting your family members. Start by reviewing your current policy, looking for any riders you don’t need or want. Eliminating riders can help lower your premiums. You can also consider paying annually instead of monthly — something that only 30 percent of millennials and 53 percent of Gen Xers surveyed by Health IQ knew could lower their rates. If these small changes don’t make a noticeable difference, re-evaluate the length of your policy and do some comparison shopping. For example, you may find lower rates with an insurance agency that relies on waist-to-hip ratios instead of BMI. Here’s where Health IQ comes in. Health IQ has unique underwriting policies that have replaced the outdated BMI chart with meaningful data such as cholesterol calculations while factoring in a ...

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Life Insurance 101: Learn About Some Common Terms and Definitions from Health IQ

If you’re starting the search for a quality life insurance policy, get familiar with some common terms and definitions. Even if you’re a seasoned insurance pro, reviewing some basic terminology can help make sure you understand your current agreement. This step is essential to securing an affordable, beneficial policy, and you may discover something that you can use to get a lower rate or find a better deal. With its dedication to helping health-conscious people save money on life insurance, Health IQ is one place to start. Do you know the difference between term and whole life insurance? Term life insurance covers a set period, whereas whole life insurance covers a person’s life. Although the latter option may seem like a better bargain, it may not be the best deal. Whole life insurance is often more expensive, as the insurance company is guaranteed to eventually make a payout. If you already have life insurance, you can discuss what’s known as a “conversion” — a switch from term to whole life insurance. You could fill up a small dictionary with enough life insurance terminology. Keep researching and learning the essentials needed to be a wise consumer. If you’re interested in learning ...

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Health IQ: Know About Your Life Insurance Needs

Life insurance is a valuable investment that helps protect your loved ones from financial hardships after your death. Age and health may factor into the policy options that are available to you, but these shouldn’t be your own personal indicators as to whether you need life insurance. If you have anyone who depends on you financially, you should consider life insurance a critical investment to make sure they’re cared for should the unexpected happen. Life insurance can help replace your lost wages and pay for some of your debt in the event of your death. Though 73 percent of uninsured families recognize that they need life insurance, there are many individuals who are delaying their coverage. If you’re among the 62 percent of homes that would be in immediate financial trouble if a primary wage earner passed away, it’s time to stop procrastinating and start exploring your life insurance options. There are over 37 million American families that are currently uninsured, potentially putting their loved ones in a dangerous financial situation if they should pass on. The first step to implementing a life insurance plan is understanding your options. You’ll find several options for both low-cost term life insurance and ...

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How Much Do You Know About Life Insurance Policies?

Earning, saving, and investing your money is an ongoing process that you engage in every day to build your financial security. But have you also taken steps to protect the legacy you are leaving behind? When a tragedy occurs, your family would be hit with massive expenses and the loss of your income right when they are emotionally at their weakest and most vulnerable. What will happen to your carefully constructed financial plan if you don’t have life insurance? Most financially savvy people know they need life insurance, and they know that procrastinating on this decision could put their loved ones in a devastating situation. But people still put off buying insurance often because they don’t feel confident in their knowledge of the products, and that lack of knowledge makes them feel uncomfortable with the process. If this situation is the case for you, take the time now to learn more about life insurance. You’ll feel much more in control during the buying process if you are better informed. Start by understanding the difference between term and whole life policies. Term insurance is less expensive, and you can cancel at any time, but when you cancel, you’ll have no cash ...

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