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Trusted brokers for
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Fear of missing out—is more than just a hashtag to millennials. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence.
But one area where #FOMO really does you a disservice? No one is afraid of missing out on the benefits of life insurance. And why should you? There are so many other things competing for your money. That said, do you know what you’re missing out on by not having it? Are you making one or more of these mistakes?
Three in four Millennials overestimate the cost of life insurance—sometimes by a factor of 2, 3, or even more! Imagine being able to afford life insurance for the cost of that daily latte, and for less money than your avocado toast habit!
Nothing could be further from the truth, and yet four in 10 Millennials think this is true, according to the same study! Younger candidates have an easier time getting life insurance because they are generally healthier.
In an era where social networking does all things, it’s natural to think that your loved ones can crowdfund their way to solvency after something happens. But life insurance benefits aren’t taxed like GoFundMe proceeds are, and life insurance has a defined, immediate payout that GoFundMe does not. Plus, your loved ones don’t need the stress or the stigma of having to ask others for help.
In fact, one study recently suggested that many Millennials are more concerned about planning their next night out with a significant other than planning for their financial future. But sensible steps now will make for a better future with that significant other long past tomorrow night’s date.
Take a look at your student loans. Were any of them private loans? Who is liable for them—in full, often immediately—if something happens to you? There are other debts you may need to consider as well—anything where you have a co-signer.
Millennials are getting married, having families! Young families have enough to worry about with daycare costs and increased medical costs, right? Well, imagine what your young family would do about those bills if something happened to you. Could your spouse pay the rent or mortgage without your income?
One recent college grad recently confessed to me that he hadn’t elected into any of his employee benefits at the dream job he got in his field because “my dad takes care of that.” He was shocked to learn what he was missing out on!
Yes, adulting *is* hard, but a sound financial plan that includes retirement and insurance coverage (health, life, and disability insurance are all part of that plan) goes a long way to making sure that you don’t look back on your younger years and think, “Oh, why didn’t I start this sooner?” Plus, you don’t have to do it alone—that’s what insurance agents are for. They will sit down with you at no cost, or obligation, to discuss what you need and how to get coverage to fit your budget. But then, signing up—that IS on you. Don’t miss out.
For more myths read here.
By 2020, 1 in 2 people in Ireland will develop cancer during their lifetime. In Ireland, an average of 40,000 new cases of cancer are diagnosed each year. The most common of these are skin, prostate, breast, bowel and lung cancer. We know that 4 out of 10 cancers can be prevented. Do you know how to reduce your risk? By not smoking, eating healthy, healthy weight, watching our alcohol intake and taking regular exercise can reduce our risk of getting cancer.
An easy way to reduce the risk is to get regular screenings. If you are regularly screened for cancer, then there is a chance of catching the cancer in the early stage. If the cancer is caught in an early stage, there is a greater chance of survival and the ability to make a full recovery.
Do not smoke and avoid second-hand smoke. Smoking cigarettes is linked to being the cause of one in three cancers. Smoking is the single biggest risk factor for lung cancer and various other cancers. Lung cancer is one of the biggest killer cancers in Ireland because it is usually at a later stage when detected. Smoking is an addiction, but if you choose to stop it could save your life. In 2013, it was estimated that 5950 premature deaths were caused by smoking. There were also 200,000 admission into hospital caused by second hand exposure. Cigarettes contain over 4000 chemicals, 60 of these are carcinogenic, compounds that can cause cancer. Half of smokers will die from tobacco related disease.
Weight is an important factor as it can increase your chance of developing cancer. People who have a healthy weight have an estimated 18% lower risk of cancer compared to people who are overweight.
Regular exercise is important both for the mind and body. You should do 30 minutes of exercise a day, which is the estimated time recommended to maintain a healthy lifestyle.
You are what you eat so a healthy diet with lots of fruit, vegetables and whole grains is good to maintain a healthy body and immune system. If you limit salts, sugars, fats, red meats and processed foods eaten, you could reduce your risk of developing cancer.
Alcohol intake can increase your risk of developing cancer as it damages your DNA and is very high in calories. It doesn’t matter how much you drink, drinking alcohol can cause cancer.
Many people underestimate the strength of the sun in Ireland. Extended sun exposure can cause skin cancer. It is one of the most common causes of cancer in Ireland. Avoid too much sun and always wear sun screen.
You could be at risk of developing cancer, if you work in a hazardous workplace or if you are exposed to toxic chemicals and pollutants. Wear protective clothing and mask and follow health and safety procedures. Exposure to Asbestos can be very dangerous and can cause cancer like lung cancer.
Irish people receive a high dose of radiation and approximately 86% comes from natural sources. The principle sources of radiation are radon, cosmic radiation, natural radioactivity in soils, thoron, natural radioactivity in food, exposure to artificial radiation and medical exposure. Radon is a natural element and occurs in the Earths crust. This means it is wise to check the levels where you are residing and working. For more information www.epa.ie/radiation/exposure
Women over the age of 50 who take HRT for more than five years or more are slightly more at risk of breast cancer. It is also important that men and women do regular breast checks.
By ensuring that your children take the vaccination programme can prevent and/or reduce the risk of cancers caused by infectious agents including viruses and bacteria. In Ireland, it is estimated that there are 420 new cancer cases diagnosed annually caused by HPV (Human Papilloma Virus). Cancer caused by HPV can be prevented with the vaccines.
Holidays are a time to chill, destress, and enjoy yourself, but it can also be a time when your health plans go out the window, which is never good. It’s important to remain fit and healthy with your family when on holiday.
In today’s column, I wanted to bring you some simple ways to stay fit and healthy with your family while you’re away. It’s great to spend time together and it’s an excellent opportunity to make health and fitness fun with your family too. Remember, encouraging a healthy family and installing a positive association with exercise will dramatically increase the chance of your child staying healthy for life, so it really is incredibly important. Try some of these with your family – you might even enjoy it!
You can make up your own version of this, but the idea is to test how many exercises you can do in one minute as a family. Here is my list of exercises to try: Jumping jacks, sprint on the spot, heel kicks, press-ups and jump in the air. Simply do one minute of each and make a note of how you do – children will love the element of competition. Try it several times over the course of your holiday and see how much you can improve your score.
You’re usually guaranteed to have at least one person in the family with a FitBit, iWatch or some other kind of step counter. You can even download apps on your phone to keep track, if you don’t have a dedicated device. Set a target as a family to hit the magic 10,000 steps a day. What you will find is that you will be doing walks before and after dinner, and the collective goal will make everyone less likely to want to take the bus or taxis. Plus, you’ll get to celebrate the accomplishment of hitting a target every day, which always feels great, no matter what age you are.
No matter where you travel to in the world, you will be able to try new sports and activities, which are generally available for any age group. Researching in advance and booking an exciting activity is one of the really important ones, as the key to helping children stay healthy is finding sports that are fun. Trying something totally different and new on holidays is the perfect way to do this.
If your family love the One Minute Challenge, suggest a group game to play together. There are so many options to choose from: basketball shooting from different distances, penalty shootouts, finding out who can tread water the longest, building an obstacle course or seeing how far you can jump in the sand. Remember, children love games and will love playing games with you, so why not make those games fun? You might even find that you’re a big kid yourself.
Between buffets and being out of your regular routine, you can often lose track of how your family eat on holiday. Just remember the five-a-day rule to keep your family on track: breakfast, snack, lunch, snack and dinner. If you’re at the hotel buffet in the morning, then make sure to take some fruit with you to keep as your snacks for later in the day. Sticking to some sort of a routine is so important for staying healthy, both for you and your family. Here are some more steps for eating healthy on holiday.
Quick challenges and games are fun, but you can’t beat a family workout. Try this little workout with your kids and don’t forget to join in yourself too: a three-minute jog to warm up, then follow with three sets and 20 reps each of: squats, plank, lunges, sit-ups and press-ups. If it’s proving too easy, increase it to five sets.
This is the crucial one. You can hardly expect your children to be healthy if you are sitting on the sun lounger, with pints and chips in your hand. You need to show your family that you are being healthy too. So often I get emails from parents looking to improve their children’s health, yet they have incredibly unhealthy lifestyles themselves. The solution? Lead by example and watch what happens to your children’s behaviour.
It is also important to remain financially fit and life insurance can help you do that. At Oomph, we help you find a policy that fits your lifestyle and budget. Get your free quote here.
You are starting a young family and you have the future to look forward to with your spouse and family. Young families have new commitments, such as buying your first home or having children. Another commitment is to make sure your family is financially secure no matter what life may bring.
If you were to die unexpectedly, life insurance is there to make sure your family can maintain their standard of living. It can also make sure they stay in your home, stay in the same school and keep on the same future track. It also gives the grieving spouse or partner time to make decisions. In some cases, it gives the spouse time to find work outside the home, without worrying about finances.
Whether you bring home more or less than your spouse, your family relies on your income. Any income would be missed if something were to happen to you. Even if you don’t work outside of the home, having life insurance is a smart choice. Stay-at-home parents perform valuable services such as childcare, cooking, housecleaning and household management. These services can be costly if that person has to get a job away from the house.
Term policies are quite popular with many young families. This is because they typically offer the greatest coverage for the lowest cost. Term insurance provides protection for a specific period of time (the “term”), and can be ideal for people who feel they have financial needs to cover that will disappear over time, such as a mortgage or a child’s education.
However, many families realize that even after the kids are grown and the mortgage is paid off, their need for insurance continues—to provide income for a surviving spouse, eliminate debts, pay taxes, etc. Because life insurance premiums increase with age, renewing your policy when the term expires can be very expensive. Moreover, poor health may make renewal impossible.
Term life insurance makes sense for many young families because their need for coverage is great and their budgets are often limited. But that doesn’t mean it’s the only type of insurance you should consider. There are other types of insurance on the market that might suit you and your family needs for the future. Contact one of our professional and highly confidential agents today and they will get you the best life insurance on the market today with the leading brokers in Ireland.
At Oomph, we can find a life insurance policy that will protect your young family. Get your free quote here.