Category: Life and Health

Many recent graduates are usually weighed down by thousands in college loans. In fact, about 40% of students usually owe over $20,000 after graduating! That’s double the figure a decade ago. This is based on a report recently released by experts from Consumer Security Bureau. These experts calculate the number of students owing loans over $50,000 has more than tripled. That’s based on growth from 5% to 16% over that period. Students have their whole lives ahead of them – or so it seems. Sometimes, tragedy occurs and those loans are passed on to grieving family members. Plan for the future to avoid extra pain. Students should consider life insurance plans to cover their student loan expenses.

Who Pays for the Loan

Betsy Mayotte, director at the Consumer Outreach and Compliance for American Trainee Aid, says the financial obligation on the student’s loan must be upheld. This has to be the guarantor or cosigner in the event that the student passes on. Ms. Mayotte notes that unfortunately, parents and guardians of students rarely consider student loans and life insurance together. In the event a student passes on, cosigners must take charge of the loan payments. Usually, this means the entire outstanding amount of the loan. Mayotte claims spouses are also often made to pay outstanding student loans for deceased partners. This happens even when spouses did not cosign. Spouses may be called upon to meet the obligation of other loans their partner sustained throughout the relationship. This danger can be avoided.

With the right life insurance plan, you can avoid repayment of student loans for the deceased. According to John Ryan, Principal of Ryan Insurance Coverage Method Professionals, these policies are quite affordable. Ryan contends it is quite sensible to do so, even if young people are not at a high risk of death under normal circumstances. Insurance companies know there is low risk involved; policies are thus affordable. For example, a $250,000 insurance plan with a maturity period of 10 years, taken by a 25-year-old student, costs only about $100 per year.

The Right Life Insurance Policy

To determine your coverage, analyze the terms on offer. This will help you know what to expect in the event of your death. Federal student loans are usually written off in the event of student death. The same applies even to cases where the parents or guardians of the student sign for the loans. Outstanding amounts can still attract tax attention. According to Ms. Mayotte, co-signers may still have to face some level of financial obligation – whether the loans are written-off or not. Mr. Ryan contends that some, though not all, financial institutions may write off the debt if students are handicapped or die. It is you to scrutinize the terms of financing from your institution to understand exactly what will happen in case of death.

Should you determine life insurance coverage is necessary to cover the debt, find a policy covering the whole amount for the whole term. This is according to CFP Carrie Jones – an insurance expert with Life Planning Partners in Jacksonville, Florida. Jones advises a single policy, stating it’s cheaper to protect a $50,000 loan instead of splitting the amount into two separate $25,000 policies. This is true even while over time, loans diminish as students repay them. Taking a one-time policy works out to be cost-effective in the end. Some life insurance providers allow policyholders to reduce their coverage many times over the policy term. According to Ryan, it is important to ask about this while talking to insurers.

Getting Things Right

Carries Jones says the parent, guardian or otherwise co-signer of the student-loan should be named the beneficiary of the life insurance policy. This protects co-signers in the event students fail to keep up with loan payments, cancel the plan, or die. Life insurance plans can be transferred back over to the graduate, should the need occur. If the worst happens and a student passes on, co-signers should ask their insurance provider about their options for compassionate review. In some cases, this can help erase the balance of the loan. This is not guaranteed. Ms. Mayotte holds life insurance is the best way assure loan co-signers are not left in a tight spot if the student were to die.

We welcome any insurance information that relates to your health and finances. If you have any insurance topics or ideas please feel free to share with us. We are also ready to provide answers for insurance related questions. Contact us for help.

The best way to ensure you meet your daily exercise goals is to want it. When we’re motivated to succeed, we’re much more likely to accomplish our goals. It’s the difference between waking up refreshed, and waking up exhausted. This applies to almost our entire lives. An enjoyable workday goes fast, but the opposite can make time stand still. Things are easier and much more rewarding when they are enjoyable.

Exercising can be an exciting addition to your day or something you spend all day dreading. How you choose to approach your workout will help determine your experience and your rewards. You’re more likely to continue working out if you enjoy it. Something you do often is more likely to become a habit. If you want to make exercise an easy and fun part of your life, find an exercise you enjoy.

Enjoy the outdoors? Find a sport or activity in your area. Many exercise options exist outside the gym, giving you a great excuse to be outdoors. If you’re an indoor enthusiast, gyms have regular and specialty equipment to attract many different types of people. Other activities such as indoor rock-climbing, yoga, and swimming can help you find something you enjoy. The ultimate goal is to find a form of exercise you enjoy. When you enjoy something it’s much easier to find the time.

When you look at the pool of exercise options to choose from, there’s nearly something for everyone. From a health perspective, activities combining strength, cardiovascular, and balancing exercises are best. Depending on your preferred exercise methods, this may require you to include multiple in your routine. A balanced combination will aid in your body’s development and capability.

Few people are professional athletes. For most of us, exercise will sometimes push us to the limit. It’s important to stay focused to develop and maintain healthy exercise habits. Trying new exercises and activities can help you stay excited about working out. Your body doesn’t know the difference between working out in a gym and working out doing something else you enjoy. What matters is that you get your body moving. How YOU think about it does matter.

When you approach exercise excited and motivated you’re more l going have the best chance to get the most out of your workout. Look at it like a chore and you’ll start to find reasons to avoid it. Enjoy it and you can easily build a habit and lifestyle incorporating exercise into your daily life.

We are always looking for great info for helping you maintain a healthy body and healthy bank account. Have any insurance-related questions? Give us a call!

Some people assume that once the children have finished university or you have actually settled your home loan it is time to cancel or lower life insurance policy. Child Boomers are living longer, and cashing out life insurance policy could assist repay financial debt or give funds for loved ones.

Yet before you make a decision to cancel your policy, take a while to thoroughly examine your scenario. Robert Quinlan, taking care of participant of Quinlan Treatment LLC, provided the complying with suggestions on life insurance policies as you get to retirement age. Below is exactly what you need to understand.

Boomer: Once I reach my retired life, do I need to keep my life insurance policy protection in force?

Quinlan: There are numerous reasons that someone must keep their insurance protection. Did you still have financial debt from a home loan, automobile finance, “still as well huge” charge card(s) equilibrium, or in the midst of education and learning financial debt for a second occupation or to help educate a grandchild or child? You might not have adequate retirement income or funds for your surviving partner or companion to keep their life style today after your fatality. Are your charitably inclined? You may desire to leave all or several of your life insurance policy benefits to your favorite charity, or leave it to your youngsters.

Boomer: What is the distinction in between term and also long-term life insurance policy?

Quinlan: Term life insurance is like renting a property. It will offer your recipient with a death benefit for a restricted period of time, like 10 or Twenty Years with a degree premium that is initially made a decision based on the age as well as the health and wellness of the insured. There is no money value.

Permanent life insurance policy (i.e. whole life or universal life) gives your beneficiary a survivor benefit as long as you live. It additionally collects cash money value that you take out or obtain against throughout your lifetime. It has a level, higher costs than term insurance policy.

Boomer: If I am age 60 or older as well as have extinction insurance, which type of life insurance policy should I be checking out to buy?

Quinlan: You may read this answer a whole lot– it all depends. Do you desire protection for a short-term time period like Ten Years and you want a reduced costs than long-term life insurance policy? After that term insurance coverage could be right for you. If, however you desire security up until you die, after that permanent life insurance may be far better compared to term. Talk to an insurance policy specialist to assist you address your scenario.

Boomer: Are my recipients tired on the benefits they obtain on my fatality?

Quinlan: No, for the huge bulk of Americans who receive lump sum checks, these survivor benefit checks are revenue tax-free. If a person chooses to receive the earnings over say Ten Years, a lot of the routine repayments will be income tax-free. However, a smaller part of each check will certainly be taxable (as average revenue) as a result of the rate of interest that the provider will pay you every year that the funds remain with the service provider.

Boomer: What is the long-lasting care motorcyclist that can be contributed to my policy when completing my application for a new life insurance plan?

Quinlan: Yes, you can add this prominent biker to your irreversible plan at the time of application to cover the significant prices today for residence treatment or treatment in an assisted living community or assisted living facility. You could not include this biker after the policy was issued.

Boomer: If a person ends up being terminally ill, just how can life insurance help them?

Quinlan: If you are terminally ill (Twelve Month to live or much less), your plan (either term or long-term) could permit you to take out up to 60 percent of the plan’s face/death advantage to use it for any type of purpose (like what’s on your ‘container list” or pay any medical expenses that could extend your life longer without incurring financial debt) and is free of any type of revenue taxes. Review your plan to see if this provision is consisted of, or it may be a rider to your plan today at no extra premium.

Boomer: Just what recommendations to you have for any individual uncertain concerning just what remains in their policy today, or about to get a brand-new policy?

Quinlan: I recently met a financially successful lady that transferred several hundred thousand dollars right into a solitary costs life insurance policy (creating over $1 million in death benefits at her death). She called her three grandkids as recipients. Nice present for her grandkids, right? Nonetheless, she was not aware that it may have the prospective to generate a substantial tax when she as well as her spouse die. This federal tax is called the generation-skipping transfer tax obligation. Constantly rest with a knowledgeable insurance policy and tax obligation specialist to select and also understand the best type of policy for you today and also the rider(s) that will enhance your life insurance protection.

Having a pre-existing health condition such as heart disease, hypertension, diabetes, cancer, kidney or liver disease does not necessarily mean that you’ll be denied life insurance. However, it can create challenges including delaying the application process.

You can reduce the delays as well as ensure the best price possible if you have candid conversations with your life insurance agent and if you make sure you are working with an independent insurance agency.

These additional seven suggestions will help you streamline the process, especially if you have any medical problems in your history.

1. Plan Ahead

The process of getting life insurance is never fun so it’s understandable that you’d want to get this process done with as quickly as possible. However, if you have a pre-existing condition, it’s important to take the time to explain your needs. If you end up needing high-risk life insurance, you’re going to have to do more work to obtain this option.

You’ll likely need to submit documents including current prescriptions, letters clarifying your health, and even more comprehensive details from your doctor depending on your specific medical condition.

It’s wise to collect as much health information as possible before you speak with your independent life insurance agent so they can be as informed as possible as they work to help you find life insurance options for your specific situation.

Having this information handy will minimize any complications for your agent so that he or she can connect you with the most appropriate provider.

2. Work with a Trusted, Independent Agent

Having an independent representative is handy as these brokers can give you prices from more than one life insurance carrier. If you work with an independent agency, you’ll be able to see all of the plans you qualify for while saving you time by not having to research other insurance options on your own. Independent agents can do the work for you. (Captive agents work with only one insurance company.)

Your independent agent will guide you to the insurance carrier with the best options and most affordable premiums based on your past and current health history. The agency and agent you choose should be experienced on how to best handle your situation.

(Thankfully you can count on us to help get you moving in the right direction. If you have questions about life insurance, be sure to ask us.)

3. Be Candid About Your Health

Be as open as possible when you talk to your agent. These professionals are on your side and their actions are based on the information they obtain from you. Also remember, the best agent in the world can only act on what you’ve told them.

Detail every concern that you have. Having the proper diagnosis, treatments, and other medical details can help you a great deal. Understanding your medications in addition to your lab values is important as well. Provide the agent with anything that may be important regarding your condition.

This is crucial in getting accurate quotes and in determining if there’s in fact a life insurance option available to you based on your health situation.

4. Obtain Multiple Quotes

Take advantage of your agent’s ability to shop around for the best policy. The goal is to make sure that you have quotes from multiple companies. This comparison is incredibly important for high-risk situations because health may be evaluated differently from carrier to carrier.

After you receive quotes, ask your agent about each insurance carrier in case you’re not familiar with the company. You want to choose the company that you are comfortable with.

5. Pick the Appropriate Policy

Be mindful that with health conditions, you may be restricted in the type of insurance policy you can purchase.

For example, “guaranteed approval” life insurance policies may limit the coverage and may have higher premiums.

Have a candid conversation with your agent to fully understand your options before selecting a policy.

6. Take the Medical Exam

The best policy prices are saved for those who complete a medical examination. This is because the less that the life insurance carrier knows about your health, the more that it has to charge in order to cover the risk.

Many people who already have pre-existing conditions should still take the test because it may still flow in their favor, allowing them to secure better pricing than in a “no-exam” policy.

7. Talk to Your Doctor

Be sure your doctor knows you are working on obtaining a life insurance policy. If you have a pre-existing medical condition, an insurance carrier will likely request a doctor’s statement or APS to determine your health from the clinical documents.

Make sure that your records are accurate and current. Also, make sure your medical providers are watching for the document request(s) and that they will respond in a timely manner. This way they’ll be sure to send requested documents to the insurance company promptly.

Having any type of health problem in your medical history can result in greater scrutiny when you shop for life insurance. However, a small investment of time can expand your life insurance options while reducing the time you have to invest in the process.

Many people are of the opinion that it is important to leave a legacy when they pass from this life. What many are unable to answer is exactly how to leave the most appropriate legacy. Many individuals do not have an idea on how to go about this. What people fail to realize is that a life insurance policy can help them leave a legacy. In fact, a life insurance plan can be used to leave a legacy for one’s children, spouse, and even specific people in the society.

Indeed, there are certain key steps that you, as a thoughtful & caring person, should take to safeguard what or who you love. If you want to leave a positive lasting impact well after you are gone, life insurance should be at the top of your list. Here is a look at how you can rely on the life insurance policy to achieve this:

1. Cater for the Needs of Your Family.

The family unit is revered in most societies as the most important unit of human existence. We are constantly trying our best to feed, clothe and provide shelter and comfort to members of our close-knit family. We want to provide for our family members in every conceivable way even after we’re gone. The key consideration here is that the quality of life of one’s dependents should not be diluted upon one’s death. And you likely want to shield your spouse and children from the uncertainties that arise from changes in the economy as well.

The best way of ensuring that your loved ones are protected is by taking an appropriate life insurance policy. The survivor benefit from the life insurance policy will go a long way in enhancing your family’s economic stability in your absence. With a properly structured policy, children and other loved ones will be able to meet long-term needs beyond daily survival such as the costs for higher education, health care, etc.

You may also choose to nominate your nieces as nephews as beneficiaries to your life insurance policy. True, the needs of your nieces and nephews may have been catered for in the life insurance policies of their parents. Still, this makes a mark when they realize you’ve thought of them. The survivor benefits they receive will make their life easier and better, and on this count, they will respect you the more. There are many ways that your nieces and nephews could benefit from the funds that you leave them.

2. Leave a Legacy to a Charity

Mainstream and social media are filled with stories of charities looking for fresh sources of funding. Be it a charity for the homeless, abused children, rescued animals, feeding the refugees, or many others, there is always a charity that will be more than glad to receive funds from you.

One of the easiest ways of donating to charitable courses is through your life insurance policy. All you need to do is to ensure that you leave very clear instructions on how much needs to go to the charitable organization that you nominate, and it will be implemented once you pass on. That way, you will have contributed towards making life better for the less fortunate in the society.

One of the simplest means to give back to a charity using life insurance policy is to create a trust fund as the recipient of your life insurance policy. Be keen to specify the amount that should be given out from your estate upon your death.

3. Establish an Academic Scholarship

Making the decision to establish a college or university scholarship is one of the most respected ways of utilizing the life insurance policy. Many people who choose to do this name the scholarship after themselves. It is a great way of ensuring that your legacy lives on even after you are gone.

Different academic institutions have different guidelines on how to go about setting up a scholarship for needy or deserving students. It is important that you contact the academic institution of your choice so that all particulars on how to establish the scholarship can be discussed.

4. Create or Fund an Existing Park

There are a number of ways that you can decide to benevolently use your life insurance policy for the benefit of your community. For example, you may choose to create a park or help fund the care and upkeep of an existing playground. (Parents are constantly on the lookout for safe play grounds for their children.)

It needs to be noted that plans for such a project call for thorough consultations with the local authority. The town or city in the intended area is bound to have some useful input that would make your work very easy. They would also need to issue you with the necessary permits and licenses for the various aspects of the project.

The life insurance policy provides the perfect avenue for you to leave an indelible, lasting legacy. It is one of the most powerful ways through which you can enhance the continuity and economic stability of your family members and large community. It is also a great avenue for you to selflessly sponsor projects that will be meant for the common good in the society.

The effectiveness of your plans will largely depend on how they are executed after you pass. It is prudent that you seek professional help as you ponder and lay down the plans. An insurance advisor and estate lawyer are best qualified to help you navigate through the various options open to you. Additionally, the lawyer will help you to effortlessly set up a foundation or trust fund that will be the conduit of your benevolent deeds.Leave a Legacy With Life Insurance

Summertime is a great time to move around and see the world. As a result, many people try keeping fit in readiness for summer. They exercise and “eat clean” for that perfect Summer body. And while many embark on their trip in tip-top shape, failure to remain vigilant while traveling can cause weight gain. So here are some tips to keep fit while on the road.

1. Regular Exercise

Exercise is one of the best ways to keep a check on your weight while traveling. The good news is that this exercise does not need to be overly ambitious or vigorous. All you need is about 20 to 30 minutes, at least 4 times a week. Use this time to work out in the gym or outdoors. You can do some light weights, cardio, yoga or just jog outdoors. The benefits of doing this are immense. Regular exercise will not only help you maintain a trim figure but also it will help release the ’feel good’’ hormones that will buoy you for the remainder of the day. Indeed early morning exercising can increase your enjoyment of your vacation. And if you can’t find a gym or go outside? Bodyweight exercises in your hotel room can still help.

2. Keep Hydrated

Keeping fit in hot weather can be tricky as dehydration takes place pretty fast. It is even harder if you are traveling through a country or area that does not have a good supply of clean drinking water. Dehydration is usually accompanied by the swelling and stiffening of fingers, and often a feeling of thirst. To combat dehydration, ensure that you carry small containers of water whenever you go outdoors. A bottle of clean water would come in handy as you take your stroll – regularly sip from it to hydrate your body and ensure that you remain fit.

3. Choose to Walk

Walk as much as you can in the course of your travels. Instead of taking a cab to move from point A to point B, choose to walk if the distance is manageable. It is healthier to sight-see around a city on foot than using motorized means. It provides you with the opportunity to absorb more of what the city has to offer – from discovering hidden alleyways, visiting places of worship, or to simply admire some captivating landmarks. If the distance is a bit long, you may choose to rent a bicycle. The bike will help you travel faster; while at the same time help you in keeping fit.

4. Go Slow on Alcohol Intake

Taking too much alcohol is detrimental to your keeping fit effort. Alcohol will only help you build up on calories – something that you would want to avoid. Teetotalers need not worry about this, but those who regularly take a glass or two of wine before or after meals may want to consider re-evaluating their priorities. Apart from building up on calories, alcohol is a diuretic. This means that it makes the body dehydrated very fast. This is counterproductive to remaining hydrated.

One way of avoiding alcohol is to allocate ’off’ days. These are the days that you decide to totally abstain from alcohol consumption. On these days you may decide to choose a healthier indulgence like getting a massage.

5. Visit the Spa

Visiting the spa for a massage therapy is one of the greatest ways to decompress while traveling at home or abroad. The effects of jet lag from the long trans-Atlantic flights can easily be reversed by a well-timed visit to a spa for well-deserved massage therapy. Indeed, a variety of spas targeting travelers exist across the globe.

6. Get Adequate Rest

There is nothing that will help you in your keeping fit effort like having adequate rest. Ensure that you get enough sleep every night in an environment that is comfortable and kind on your body. Avoid late night traveling whenever possible. Should it happen that you do not get enough sleep at night, make plans to compensate during the daytime. Schedule your travel itinerary in a manner that allows you to have time to relax and get some rest.

7. Go Slow on Treats

Treats like candy and cake should remain as treats. Avoid the attitude that “it’s OK because I’m on vacation.” Splitting deserts and limiting your intake of sweets will help you avoid unwanted calories that are counterproductive to your goal of keeping fit while traveling. Save the treats for special occasions when you are likely to appreciate them even more, as opposed to having them routinely with every meal.

8. Eat Healthy Breakfasts

Many believe breakfast is the most important meal of the day. As such, what comprises this meal should be chosen with a lot of care. Eat a well-balanced diet, which has the foods necessary to provide you with the energy necessary to fuel you for the better part of the morning. Resist the temptation to pile up on fatty or sugary foods as these will reverse any gains made in your keeping fit program.

9. Try Meditation

Meditation is one of the better-known stress busters. In addition, it works very well If you become agitated or irritated by the seemingly unnecessary delays that you are likely to experience in some airports. Meditation is also highly recommended if you are unable to sleep. To fully grasp the art of meditation, some measure of practice is required. The good news, however, is that there are apps in the market that can be downloaded to help a newbie with the practice of meditation. The apps offer 5-20 minutes of simple step by step instructions that anyone can follow to apply meditation for peace and tranquility.

10. Use Sunscreen

Protect your skin against the harmful effects of the sun’s ultra-violet rays. The tan from the sun may look good in the short time, but it creates a long term problem by making the skin prone to sagging and cancers. Get sun blocks that offer both UVB and UVA protection. Most of the European countries have provided a rating for these products in order to protect the consumer against marketing gimmicks. Most countries have set the SPF rating at 50+ and anything beyond this should not be taken seriously. Even though similar measures have not been taken in the US, it is advisable that you choose a rating of at least SPF 30+. It is even better if you can get a product that is multi-spectrum – one that has incorporated both UVA and UVB defense to help you in keeping fit.

11. Enjoy Yourself

Don’t let “keeping fit” prevent you from trying new foods. Don’t let workout obsessions keep you from spur of the moment activities that could build memories for a lifetime. Be flexible and enjoy each moment as it comes for what it is.

The Insurance policy Commissioner’s Office is trying to make it much easier for Georgians to track down as well as submit life insurance policy cases.

The Life Insurance Plan Locator Solution has actually helped greater than 100 Georgians receive regarding $750,000 in benefits up until now.

If you aren’t sure where a life insurance plan is, if your loved one had life insurance coverage or if you’re a recipient, you can submit a request to discover. It’ll then send out an alert to insurance provider to check if they hold a plan because name, and also the business will let you understand if they do if you’re a beneficiary.

Deputy Insurance coverage Commissioner Jay Florence stated you need to have a couple of things before you send a demand.

” The even more details you have, the better,” he said. “So if you have a life insurance policy number, undoubtedly that’s a great idea, and also if you recognize the business, that excels. However as a standard, you wish to make sure you have the individual that died, their date of birth and also day of fatality, along with your name if you’re asking for the insurance provider to examine to see whether you’re a recipient.”

If you have this details handy, Florence stated it must take about 15 mins to finish the demand, and if a company holds a plan in the name you’re looking for, it needs to inform you within a couple of weeks.

He added that in this process, time is important.

” Regarding 2 years after a life insurance policy company learns that somebody has passed away, they hold on to the cash,” Florence stated. “And also after that two-year period runs, they really transform it over, it’s not to us, yet to the Unclaimed Residential property Department of the state. Then the state holds on to it for, I think, 6 years, and also afterwards duration runs, the state then deposits it into the general fund, and you shed the possibility to claim it.”

Life insurance is a valuable investment for your dependants or anyone you have chosen as a beneficiary. If you are a financial support to others, it is imperative you leave behind something when you are gone so that your they will be able to look after themselves in case your gone.

However, it can be a challenge to determine exactly how much life coverage you require to ensure that your loved ones are well taken care of.

A recent survey showed that, while 20% of Americans agree that life insurance should be included as a part of any sound financial planning, only 40% said they would know what to look for in buying a life insurance policy. The same survey indicated that 50% of Americans felt they were under-insured.

Experts recommend at least six times the annual gross income as a good place to start for determining how much life insurance you should obtain.

As you consider the varying options available, always keep in mind that buying life insurance is like buying any other consumer product – your goal is to get the best value for your money.

Before taking out life insurance, it’s smart to speak with an expert to ensure that you understand all the options that are available to you.

And, working with an independent insurance agency ensures you can receive several quotes without having to call several carriers directly. This will help you make an informed decision while getting insurance that is tailored to fit your situation.

Beyond the “six times annual gross income” rule, you need to understand your “life value”. This may sound like an absurd thing to consider, but it is important. After all, you want to be sure that the money you leave behind will take care of your family.

So, do you expect to be earning more in the future? If so, plan for that. Do you take care of things around the house that someone might have to otherwise pay for? Be sure to include that as well.

Likewise, if you have debts, be sure there’s enough insurance to cover those bills as well.

And if you have kids and need to ensure they can go to college, you have to plan for that too… college is expensive and its costs are accelerating.

By taking full stock of your current situation and the impact your death will have, you’ll develop a clear understanding of what your family will really need to survive.

With an effective financial planning process, you will approach purchasing life insurance with an unbiased perspective that will allow you to make a sound decision. (If your life circumstances change, be sure to talk with your live insurance professional right away. Things like buying a vacation home, having kids, or even getting a divorce can impact your life insurance needs.)

We understand that life insurance is a subject most folks try and avoid talking about, yet it is important. It is about protecting loved ones from uncertainty in difficult circumstances. Please reach out to us for resources on getting the most out of life insurance. We’ll be happy to help point you in the right direction and help you explore your options.

In the hot debate about healthcare in the U.S. there appears to be one common thread. Research shows that 77% of Americans from both sides of the political divide feel that insurance coverage should cater to psychological wellness.

The research results by the American Psychiatric Organization shows that 76% of Democrats and 81% of Republicans are of the opinion that health insurance should provide mental wellness protection.

The research further clarifies that over 50% of Americans would want psychological health coverage to be part and parcel of any health insurance law. This is irrespective of whether the insurance coverage is purchased on an individual level, or it is part of a federal statutory program like Medicaid and Medicare, or any other bought through a Health Care Exchange.

55% of Democrats and 51% of Republicans perceive that all forms of government provided insurance health coverage must take into account the issue of mental wellness. The findings noted that Boomers are more likely to support this line of thought than Millennials.

Further data indicates that 50% of the respondents were of the opinion that mental health insurance coverage is of extreme importance.

But with that stated, more than 25% of respondents indicated  they did not know the status of their own psychological health insurance coverage!

Once again, this number cut across all demographic groups of age, race, ethnicity, party affiliation and income brackets. However, over 50% of adult respondents indicated that they would know how to access mental health if they required it. It was noted that  50% of women surveyed versus 37% of men had high confidence that they knew how to access mental health care should the need arise.

The research caught the attention of APA Head Maria A. Oquendo, M.D., PhD. She contends that the poll offered crucial insight into the American understanding of the relevance of mental wellness. In her opinion, the poll results showed a strong bi-partisan support for psychological health insurance coverage. However, she voiced her concern about the unusually large percentage of people who indicated their lack of knowledge on the status of their mental wellness protection, and those who showed a lack of knowledge on the best ways to access mental health care benefits.

4 in every five American adults acknowledge the link between mental wellness and  total health. (The majority are clearly  concerned about their families’ general health.) However most individuals indicate a lack of trust in Washington policy makers to understand the importance of psychological health as a top priority. Indeed, 69% of the respondents were of the opinion that the policy makers did not prioritize mental wellness protection.

The APA CEO and Medical Director Saul Levin said, ‘We have actually made progress in the broadening of Psychological health protection.’ He added that the proposed American Health Care Act would eliminate insurance coverage from a large number in the general population, in addition to curtailing the Medicaid expansion that was established by the Affordable Care Act.

The research was conducted online by ORC International CARAVAN Omnibus Survey on behalf of the American Psychiatric Association. It was conducted countrywide with a survey pool drawn from 1,019 adults, between April 20th and April 23rd 2017. It has a +/-3.1% margin of error.

While there are differences of opinion on the best way to handle health care in the U.S., it is clear that mental wellness protection is important.

If you have questions about the current law (The Affordable Care Act) and the proposed changes offered by the American Health Care Act, please reach out to your health insurance specialist.

And for other questions about insurance topics that can impact your pocketbook, please explore our past articles. Please know that we’re committed to helping you get the most out of your insurance protection. And if you have any insurance related questions, please be sure to reach us.

Divorces are painful. They can cause emotional harm to all participants. For example, imagine what might happen if a current spouse and an ex-spouse file competing claims for life insurance on a decedent.

Divorce related life insurance conflicts often end up in the courts. Such proceedings can be an emotionally charged experience for all involved.

Is that what you would want for your estate? Let’s say you have a policy worth $1,000,000. How much of that could be lost in legal fees as competing parties fight each other over who should receive the death benefit?

It may be surprising, but life insurance is often overlooked in divorce proceedings. This sort of oversight sets up the potential for future conflicts.

It forces the courts to made decisions on behalf of the decedent… something that no life insurance policy owner wants.

But avoiding this issue is relatively easy. Be sure your life insurance is discussed during your divorce and be sure it is properly updated.

As difficult as it may be, talking with your Insurance professional about your divorce is important. They’ll be really understanding. They’ll ask you the necessary questions to help you decide how best to handle whatever changes you need to make to your policy. They’ll offer you great advice that you can count on to be sure your estate is protected and that your wishes are followed if something should happen to you.