There are many common myths about life insurance that stop people from purchasing life insurance. You may believe one of these misconceptions and have not purchased a policy yet. Life insurance could protect you and your loved ones in case of a sudden death or illness.
Just because you are young, single and healthy does not mean there is no need for life insurance. If you have any outstanding debt from education loans, car loans, or other debts, when you pass away, these debts will be transferred to your estate and still need to be paid of. Life insurance policies can help pay off these debts in case of sudden death, so your estate is not stuck paying it off. If you get a policy when you are young and healthy is usually cheaper, which makes it more manageable.
This is not always the case because company provided life insurance usually only covers 1 to 2 times the amount of your salary. 1 to 2 times your salary is not a sufficient amount. It is recommended to have 10 to 15 times the amount of your salary. Life insurance policies can provide this recommended amount in case of sudden death or illness.
This is just not true. Most life insurance providers have many different policies for people of all lifestyles. There are policies for people with different health conditions, for married and single people, and policies for people in all stages of their life.
The lose of one source of income can be a harder hit to a family than it is thought to be. Just because one spouse is not the breadwinner, you still lose one source of income for your family and this can take a bigger toll than you make think. If both income earners for the family have life insurance policies, in the case of a sudden death, the policy can assure the family can live at the same standard.
Serious health conditions may disqualify you from life insurance, but not all health condition disqualify you form life insurance. Most insurance companies have plans for people with health conditions like diabetes, high cholesterol, or high blood pressure. If you have a health condition, the premiums might be higher, but you can find a policy. Read more here.
To read more myths about life insurance click here.
At Oomph.ie, we provide competitively priced life insurance policies from the top 6 insurance providers in Ireland and can find a policy to fit your life. Take our 3 easy steps to get a free personal quote today!
In honour of Unicef World Children Day, we would like to have a look at how we set examples for our children’s health.
Don’t worry that children never listen to you; worry that they are always watching you. – Robert Fulghum
For example, it’s great that you tell your children to eat your vegetables but don’t expect them to listen to you if you are not eating them yourself in front of them. Having good healthy habits that your children will imitate is the best health education you can give them.
From the time they come into this world, children learn how to live by observing and imitating the people around them. Children learn to process what they see and they make decisions about what to mimic and take part in certain behaviours by watching these people around them.
Showing your children how to have a healthy relationship with alcohol will benefit them throughout their lives. Drinking heavily may show your children that you try and solve problems in an unhealthy way. This will not improve your children’s health in the future.
Children who grow up watching their parents drink are more likely to become alcoholics themselves. As teenagers the region of the brain which is responsible for problem solving, decision-making, and judgment are not fully formed. This manifests itself in behaviours like promiscuous and unprotected sexual behaviour, rebelling against authority, and substance abuse. Moderation, on the other hand, provides children with a good model of responsible use.
Showing your children that a healthy fitness routine is essential for not only physical health but for mental health as well. Set aside designated workout time. This shows your children that exercising is a priority and you’re making a point to instil healthy habits for you and your family. Getting your children to understand and form a fitness routine early on in life will start a habit with them. They’ll notice the importance of fitness without you having to talk excessively to them about it.
Showing your children a good relationship with a healthy balanced diet can have positive effects on them for the rest of their lives.
Healthy family eating should not be simply about eating fruit and vegetables. It’s about eating a range of different foods, and enjoying treats as well. Don’t put too much emphasis on eating as you don’t want negative emotions to be associated with food. Either being too worried of gaining weight or using food as a coping mechanism.
You children will inevitably be exposed to stress and other mental obstacles, even if they exercise and eat healthy. Teaching your children to talk openly about their feeling and not to be ashamed if they are feeling down. Nurturing your children self-confidence and self-esteem is just as important as teaching them healthy eating and fitness habits. Different ways of achieving this are;
Are you confused with all the different types of life insurance that is available to you? We have explained below single, joint and dual life insurance.
A single life cover is for one life only. The benefit is paid when this person dies to the persons declared beneficiary. This is normally done when a death claim is filed and the death certificate is submitted.
A Joint life is cover on two lives. This is when the cover insures two people but the claim is paid out on the first death only, there is only one payment made under this policy. Typically the payment is made when the first of the two people covered dies however some joint life policies pay on the second death instead of the first.
A dual life cover also insures two people but a claim can be paid on both deaths. If one person dies, the policy continues in the name of the survivor. Then when the second person dies, their life cover payment is also paid out.
It is important to get the right life cover for both you and your spouse so if anything happens to either of you, your family is taken care of.
If you are the sole breadwinner of the family it is important to get covered in the event of your death as the loss of the only income will devastate your family. However the loss of the partner that is not covered can also be devastating in the sense if they provide the childcare and household duties you will now need to employ someone to take over that role.
This impact is a little less if there are two incomes in the household with both partners working however the loss of an income is still very stressful for the family.
It is important to get the right coverage that suits your family situation to ensure your family’s needs are taken care of. Buying Dual or joint life insurances is more cost effective than two separate single life insurances.
As explained above the big difference between the two is that Joint, only one payout is paid but with Dual two payouts’ are paid. So it depends on your life situation which is best suited to you.
Why not have a chat with us and we can advise on the best policy for you and your family.
Although installing parental control programs and filtering software on your PC is highly recommended, this is not a fool-proof solution for knowing what your child is exposed to online. That is, you cannot simply “set it and forget it”. Despite your best efforts, you children could eventually be exposed to something you don’t want them to see. For example, you may have strict parental control at home, but that cannot prevent your kids from accessing it elsewhere. Children can be exposed to inappropriate material, play violent video games, or chat with strangers anywhere internet may be available. Today, kids can access the internet from anywhere via smart phones, laptop computers, and tablets. Because there are so many sources, parents can’t keep an eye on everything.
Continue to use parental software at home, monitor and supervise your child’s online behaviour when possible, and make sure to have on-going discussions about appropriate and inappropriate online activities and the dangers of certain types of online activity. You can also talk to your children’s friends’ parents about what your children can do on the internet.
If you prevent your child from creating a Facebook account will this put an end to their habit of using social media? No, not at all. They will likely attempt to find some other social networking website to communicate. Some social media sites are safer and more appropriate for children than others. There are many parents who allow their kids to join Instagram and other such sites so that they can pursue their individual hobbies and interests.
Monitoring your child’s online activities is an on-going process. Make sure that you are familiar with the workings of social sites before you permit your child to join them. Become familiar with the sites your child frequents and make sure that appropriate security settings are in place. It is a dangerous position to be in if your child is far more computer and internet savvy than you are.
Don’t think that because your child does not have a mobile phone connection, they will not be able to chat with unknown people. Children with home gaming consoles such as an Xbox or PlayStation (or even an iPod touch) can easily access just about every chat site available to those with computers.
Children do not simply use their home consoles to play video games and use an iPod for listening to music. A child may be exposed to many things online using these gadgets. Gaming consoles as well as portable gadgets also have parental controls – use them!
You may be surprised to know that whatever you write online is essentially available forever. Even if you write or post something that later on you regret and delete, there is the possibility that it has already been copied, forwarded or shared – and at this point the information that you initially shared is now completely out of your control.
Talk to your children about the sharing of information online. Make sure that your children understand that posting information on the internet really means that they are sharing this with everyone. Also be very clear about what kind of information is acceptable to share and what should never be revealed online.
You want to protect your loved ones for the future once you’re no longer around to provide for them. We all do. A life insurance policy can give you the peace of mind that when you are gone, your family will be protected.
However, you’re also worried that your health issues mean you won’t qualify for life insurance because it is meant for healthy people only. So what do you do?
Don’t despair—there is good life insurance out there for you! Whether you have heart disease, mental health issues, kidney or liver problems, or almost any other health condition, you can qualify for life insurance!
About 85% of consumers agree that most people need life insurance, but the figures say that there is younger people and couples do not have life insurance for various reasons.
There are plenty of reasons why someone may not have life insurance or may not qualify for it, including:
People do not attempt to buy a life insurance policy because they think that they will not qualify for on. We are here to put an end to the myth that only healthy people can get life insurance.
We are here to put an end to the myth that only healthy people can get life insurance.
Actually, almost any health history can be insured. The right company can get you insured at an affordable rate, even if you are dealing with any of the issues listed above.
Take a man in his late 40s, who had suffered a severe heart attack in his early 40s, and while he had been declined elsewhere, we were able to find a company that would insure him.
Another great example is mental health issues, many times consumers with mood disorder and or depression with multiple medications are not insurable. Some people with mood disorders may be able to purchase a policy because every company’s underwriting departments have unique fill qualities. An individual who had been declined multiple times for a policy because of a mood disorder was able to secure permanent insurance because he had a steady job.
If you are dealing with health conditions, life insurance companies love seeing that you’re working to improve or properly maintain your health.
Basically, follow your doctor’s orders and you are much more likely to qualify. And that means being able to get financial protection with life insurance that your loved ones need and deserve.
Let Oomph help you find a policy to fit you life. Get your free quote here.