#bestforhealth

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Viêm amidan xơ teo là bệnh lý phát sinh khi tình trạng nhiễm trùng cấp ở amidan tái phát nhiều lần. Mặc dù đây không phải là căn bệnh mãn tính nhưng cũng có thể mang đến nhiều biến chứng nếu không được điều trị tích cực. Xem cách điều trị và phòng ngừa bệnh ở bài viết sau.

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Nanotecnología - ¿Cómo nos afectará? [Tecnología E5]

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Why You Should Put Garlic in Your Ear Before Going to Sleep

If you want to see what happens when things go south, all you have to do is look at Venezuela: no electricity, no running water, no law, no antibiotics, no painkillers, no anesthetics, no insulin or other important things.

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7 reasons why you could end up with multiple life insurance policies

Life insurance needs change as you age, and starting a family triggers the need for more coverage.

A divorce can also require additional life insurance as security for child or spousal support.

Life insurance can be used to cover private student loans and business debts.

Your life insurance needs change as you age — and having children, getting married, divorced, or retiring can also have an impact on the coverage you require. Some people start off with a simple term life policy in their 20s and then expand their coverage as they start families and businesses.

Therefore, it’s common to end up with multiple life insurance policies and some overlapping coverage. In fact, some financial advisors even recommend a combination of term life and permanent life insurance policies for maximum coverage.

That said, you’ll want to avoid applying for multiple insurance policies at the same time. Otherwise, insurance companies may think you are committing fraud to get more coverage than you qualify for. This is the benefit of having an insurance specialist or financial planner help you go over life insurance options.

Below are the most common reasons people have multiple life insurance policies.

1. Your employer-provided insurance is not enough

Most employers offer some sort of group life insurance, usually equal to your salary, for free or at a low cost. One disadvantage of employer-provided group life insurance is that if you leave your job — resign, retire, or are terminated — you lose coverage.

Another disadvantage is that it may leave you underinsured. Half of Americans who have life insurance are underinsured, meaning their death benefit would not cover expenses like mortgage, college, food, debts, and clothing for dependents.

Typically, group life insurance won’t allow you to get 10 times your income. That’s why it is recommended that you have a personal individual life insurance policy outside of your work group life insurance. Many people may start off with a group life plan and then get an individual policy that offers a larger death benefit.

2. Your family is growing

If you purchased life insurance while you were single, you probably selected a lower death benefit because it was affordable. But if you now have dependents or a partner and a mortgage, you will want a larger death benefit to take care of your family and cover expenses like the mortgage and college if you die.

If you have a term life policy that you’ve been paying on for years, unless you have a “return of premium” rider, you do not get any of that money back. So if the policy is still affordable, most people just get a new policy with a larger death benefit. The overlapping coverage will be welcomed should tragedy happen.

3. You have health concerns

If you have certain health issues, you may not qualify for traditional life insurance, because traditional life insurance policies require underwriting that includes a medical exam. However, no medical exam life insurance is an option. It typically has a low death benefit amount, known as final expense insurance or funeral insurance.

Individuals with health concerns or recent nonsmokers may have annual renewable term policies until they qualify for cheaper rates from a traditional life insurance policy. There may be overlap between the annual renewal term policy and when coverage for a traditional life insurance policy starts.

4. You’re looking to build wealth

If you want to build wealth, there are life insurance products to help you do just that. Although most people probably have term life insurance, permanent life insurance products — like whole life, universal life, and variable life — never expire and have a cash value component that you can use during your lifetime.

It’s wise to consult a financial advisor, accountant, and estate planning attorney to make sure you have the proper insurance coverage you need for your goals and budget. They will provide a comprehensive assessment that includes whether you need long-term care life insurance, disability insurance, and a combination of permanent and term life insurance.

A combination of term life and permanent life insurance offers maximum coverage because at some point term life insurance expires, but your permanent life insurance lasts for your lifetime.

5. You’re planning for retirement

“A financial plan is built on a strong foundation of life insurance and risk management holding everything up — premature death, and loss of income due to illness or disability,” said Silvia Tergas, a financial planner with Prudential.

Ask yourself where you’re going to be in 5, 10, and 35 years. Tergas said this exercise requires an understanding that the decisions you make today will impact you down the road. Planning for retirement should start when you’re young and healthy.

Your life insurance should complement your other retirement planning accounts like 401(k)s and IRAs. Those who start planning for retirement later in life may already have a life insurance policy, but not one that helps them in retirement.

6. You’re getting married — or divorced

“A prenuptial agreement is like a life insurance policy in itself — you don’t need it until you need it,” said divorce lawyer Kimberly A. Cook, principal mediator at Dovetail Conflict Resolution. She noted life insurance in the early stage of premarital planning offers some level of protection.

Cook said cash value life insurance policies (permanent life insurance) are counted as an asset for financial disclosures and property allocation for spousal and child support during divorce proceedings. She noted that in certain states life insurance is actually required as security for child support or spousal support.

You may already have life insurance, but a divorce decree may require separate life insurance as a guarantee for child support and alimony payments, in which case you’d end up with multiple policies.

7. You have large loans or private debt

If a person has substantial private student loans or private debt, life insurance is often used to wipe the slate clean for the surviving business partner, spouse, or estate. Some lenders may require separate life insurance to secure your business or personal loan. This will cause you to have multiple policies.

Decreasing term life insurance policies are connected to a mortgage, business loan, or personal loan. The amount of the death benefit is equal to the mortgage or loan, with the length equal to the timeframe of the debt. If you die, it pays off the remaining debt.

The bottom line If you want to build wealth, plan for your retirement, or protect a family-owned business, life insurance can provide the protection you need. Consult an accountant and financial advisor to determine which policies are best for you and the tax benefits and implications. Find someone you trust with knowledge of the different types of life insurance products along with a background in estate planning. See Insider’s guide to finding a financial planner, and our picks for best term life insurance companies.

Credits: Ronda Lee

Date: Feb 27, 2021

Source: https://www.businessinsider.com/personal-finance/can-you-have-multiple-life-insurance-policies

[ej-sblog]

How does smoking affect your life insurance?

Have you ever thought of how much impact smoking has on your finances? Health Canada’s cost calculator finds that smoking half a pack a day can cost up to $2,500 per year. Meanwhile, on a nationwide scale, the Canadian Cancer Society reported that smoking generates $6.5 billion in health-care costs yearly. And the expenses don’t end there — not if you’re looking to get life insurance.

What does life insurance have to do with it? Your life insurance rate depends on how healthy you are right now. But it also depends on whether you’re putting your health at risk with lifestyle choices like smoking. Here’s how this costly habit can affect your life insurance premium.

How smoking can affect your life insurance premium

To start, let’s look at the basics of life insurance. You buy a policy that provides financial protection and pay for it with monthly or annual fees, called premiums. What happens if you die while the policy is still active? Your beneficiaries get a specific amount of money stated in the policy, known as the death benefit. They can then use that money to help pay off debts, mortgages, loans and other living expenses.

Basically, life insurance can help give your family financial assistance and security after you die. So, how do insurance companies put a price on that security? A lot of the cost of life insurance depends on your current state of health and your family history. But what’s one of the biggest factors insurance companies look at when assessing your health risk? Whether or not you’re a smoker.

Paula MacMillan is a Sun Life Financial advisor in Winnipeg. “The health hazards of smoking and the risks it puts on your life are well-known,” she says. So what happens when an insurance company reviews your life insurance application? “They’ll want to know if, among other things, you’ve been smoking cigarettes or using any tobacco or smoking cessation products in the past year.” Underwriting is when an insurance company reviews your health risks after you’ve applied for life insurance. This process lets an insurer calculate the coverage you’re eligible for. It also ensures your premium reflects the level of risk.

Simply put: Your risk level affects your premium. “Being a smoker puts people at a higher risk of smoking-related illnesses,” Macmillan says. “And this translates to higher premiums.”

How much more do smokers have to pay for life insurance?

Smoking comes with a price. But exactly how much higher are life insurance rates for smokers? “A lot of people I’ve worked with were surprised to find that compared to non-smoker premiums, life insurance rates can be much more costly for smokers,” MacMillan says.

For instance, let’s take a 30-year-old, non-smoking man with a $700,000, 20-year individual term life insurance policy. He might get quoted a monthly premium of $50.13. But if he turns out be a smoker, his monthly premium could become $98.01. And what happens if he takes up smoking before it’s time to renew his policy? Then he can expect to pay a lot more than if he had remained tobacco-free.

From her experience, MacMillan finds that it helps to show smokers what their non-smoker rates would be. “Just knowing how much they could be saving gives them one more reason to quit,” she says.

Who’s considered a smoker on a life insurance application?

Most insurers would categorize people as smokers if they regularly use tobacco or nicotine in any form. This includes the following products:

Cigarettes, cigars and cigarillos

Chewing tobacco

Smoking cessation products like nicotine gum and patches

Does vaping affect your life insurance?

An application might not ask about vaping. But many applications require medical tests. These tests can detect the nicotine in your blood or urine regardless of how you consume it. So if you vape, you could still be listed as a smoker.

Does cannabis affect your life insurance?

What if you’re a casual cannabis user, who doesn’t combine marijuana with tobacco? “Then you could fall into the non-smoker category for life insurance,” MacMillan explains.

But what if you’re consuming cannabis regularly or more than once a day? “Then it’s likely that you’ll pay a higher rate,” she says.

What happens when a smoker buys life insurance online?

“Online coverage can’t distinguish between smokers and non-smokers, so the rates are usually blended,” MacMillan says. In other words, you could pay somewhere between the smoker and non-smoker rates even if you don’t smoke.

What happens to your life insurance premium if you quit smoking?

Ready to butt out? The year you quit smoking, you’ll see a drastic improvement in both your health and your finances. In terms of your life insurance policy, you may be eligible for non-smoker rates if you can:

Sign a non-smoking declaration stating that you’ve been a non-smoker for the last 12 months. This means you no longer smoke, consume or use cigarettes, cigars, chewing tobacco, nicotine patches or gum.

Have a urine test to prove there’s no trace of nicotine in your system.

Confirm that there haven’t been any significant negative changes to your health.

MacMillan finds the last point could pose a problem in certain cases. “Insurers want to know what made you decide to quit,” she says.

What if you choose to quit because you’ve just had a serious health complication and your doctor advised it? “Then they’re not going to categorize you as a non-smoker,” she adds.

Let’s say you bought a permanent individual life insurance policy as a smoker. But you’ve decided to quit smoking after surviving a heart attack. At this point, your health still puts you in a high-risk category. This means your insurer is unlikely to remove the smoker rating from your policy — even if you quit.

Getting a premium reduction can be difficult if you have other health risks holding you back. But it’s still possible — especially if you quit smoking while you’re still healthy. Bottom line: If you can quit smoking, you can start saving.

CREDITS: Farhana Uddin

DATE: July 04, 2019

SOURCE: https://www.sunlife.ca/en/tools-and-resources/money-and-finances/understanding-life-insurance/how-does-smoking-affect-your-life-insurance/

[nhathuocnamdominhduong]

Viêm amidan, với những triệu chứng khó chịu như đau họng, sốt, khó nuốt, luôn là nỗi lo của nhiều gia đình. Để giúp bệnh nhân nhanh chóng hồi phục và giảm thiểu biến chứng, Bộ Y tế đã xây dựng phác đồ điều trị viêm amidan, cung cấp những hướng dẫn cụ thể và khoa học, giúp cả bác sĩ và bệnh nhân có cái nhìn toàn diện về căn bệnh này. Thông tin chi tiết ở bài viết sau.

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[thefinancialpyramid]

Best Age to Get Life Insurance

When it comes to buying life insurance, younger is better

Life insurance is a financial product that provides a lump sum cash payment, known as the death benefit when the insured passes away. Life insurance aims to mute any financial hardship that may arise from the lack of income the deceased will not earn any longer, plus any outstanding debts or obligations of the deceased’s that must be repaid.

If you want to purchase a permanent insurance policy with a cash value, you need to own it long enough for the cash benefit to grow, and a term-life policy is only set for a certain number of years. The right time to buy life insurance varies from person to person, depending on family and financial circumstances.

Generally, you need life insurance if other people depend on your income or if you have debt that will carry on after your death. However, the older you get the more expensive life insurance costs. A healthy non-smoking 20-year-old will pay less than someone with the same health profile but who is 20 years older. If you wait too long to purchase life insurance, not only is it more expensive, it can be harder to get the policy approved by an insurance underwriter.

KEY TAKEAWAYS

If others depend on you financially — or you have debt — it’s crucial to have life insurance.

This is because life insurance ensures that your financial obligations are taken care of and your family supported even if you have an untimely death.

The sooner you purchase life insurance, the better, as it becomes more expensive with each passing year.

Term life is cheaper but only lasts for the number of years of the policy term (e.g., 20) and does not feature a cash component.

Permanent life insurance has a cash value component. Holding the policy for longer lets that cash value grow over time.

Why Younger Is Better

When it comes to timing, the younger you are when you buy life insurance, the better. This is because, at a younger age, you’ll qualify for lower premiums. And as you get older, you could develop health problems that make insurance more expensive or even disqualify you from purchasing a plan.

However, younger people faced with mortgages, car payments, and student loan debt tend to put off buying life insurance. While paying off current debt is critical, missing out on buying life insurance at a young age has a significant economic impact, much like delaying saving for retirement. The sooner it is purchased, the better.

When to Purchase Term Insurance

Term life insurance covers you for the term of the policy. While younger is generally better, when that term should start may also be based on when you anticipate other people depending on your income. You’ll want the term of the policy to last as long as your dependents will need your income. For parents, this is often until their children are grown.

People in couples who own property together may want to be covered until their mortgage is paid off. If both people in a couple are earning income that is crucial to the family, then each should be covered. Parents who don’t earn income may also want to consider coverage, as their unpaid labor (childcare, etc.) might need to be replaced by paid services (like daycare) in the event of their death.

Life insurance may be prudent even before you have dependents if you have unsecured debt, such as credit card debt or some private student loans. For instance, credit card companies require that all outstanding balances be paid upon the death of the holder.

When to Buy Permanent Life Insurance

With a permanent life insurance plan, the cash value grows tax-deferred. Premium contributions to whole life policies purchased at an early age can accumulate considerable value over the long-term time, as the cost of insurance is fixed for the entire term of the policy.

Cash value can even be used as a down payment for a first home purchase. If held long enough, what you accumulate may be able to supplement retirement income. However, the money needs time to grow, which is why an early start is best.

Cost of Waiting

Forgoing life insurance purchases at a young age can be costly. The average cost of a 20-year level term policy with a $250,000 face amount is about $214 per year for a healthy 30-year-old male. In contrast, the annual premium for a 40-year-old male is about $486. The overall cost of delaying the purchase for 10 years is $2,720 over the life of the policy.1

Additionally, waiting to purchase life insurance can have a greater impact on an attempt to purchase a policy. Medical conditions are more likely to develop as an individual grows older. If a serious medical condition arises, a policy can be rated by the life underwriter, which could lead to higher premium payments or the possibility that the application for coverage can be declined outright.

When Is the Best Time to Get Life Insurance?

The younger and healthier you are, the lower the cost of a life insurance policy will be. If you are thinking about starting a family, it is often smart to buy life insurance at that time, making it more affordable in the long run.

What Life Insurance Should I Get When I Have a Baby?

If you have children, life insurance can provide much-needed financial support in the event of an untimely death. In terms of amount, the death benefit should be enough to cover all of your existing debts and obligations, replace your income for the years that your children would still rely on you, and be able to also pay for things like a college education.

When Should I Buy Term Life Insurance?

Term life insurance can be the more cost-effective option when you only need the death benefit for a limited number of years, and not for your entire life into old age. This will depend on everyone’s own individual assessment and financial situation. Talk with an insurance agent to help you decide what is best.

When Should I Buy Life Insurance for My Child?

Life insurance policies can be taken out on children soon after they are born. A permanent life insurance policy for a young child will come with a far lower premium than for when that person is an adult. At age 18, you can then transfer the insurance policy over to the child so that they will have coverage going forward.

Should I Buy Life Insurance When I Am Young and Single?

This all depends on if you think that you will start a family in the future. If so, it’s good to buy insurance when you are younger, when it is more affordable. You may also want life insurance to establish an estate, give to charity, or repay debts and obligations upon your death, whether or not are single.

The Bottom Line

The longer you wait to buy life insurance, the more expensive it will get. Moreover, if you wait, you run the risk of deteriorating health, which may make you ineligible for some life insurance at that point. When you should get life insurance will depend on your personal and family situation, along with your finances and obligations. But in general, life insurance is less expensive when you are young.

If money is tight, a term life insurance policy can offer a financial safety net for your family. If you purchase permanent life insurance, owning it over many years will give the cash-value component of the policy time to grow.

Credits: THOM TRACY

Date: May 22, 2022

Source: https://www.investopedia.com/articles/investing/072816/what-best-age-get-life-insurance.asp

[halcyondaysforyou]

Best Age to Get Life Insurance

When it comes to buying life insurance, younger is better

Life insurance is a financial product that provides a lump sum cash payment, known as the death benefit when the insured passes away. Life insurance aims to mute any financial hardship that may arise from the lack of income the deceased will not earn any longer, plus any outstanding debts or obligations of the deceased’s that must be repaid.

If you want to purchase a permanent insurance policy with a cash value, you need to own it long enough for the cash benefit to grow, and a term-life policy is only set for a certain number of years. The right time to buy life insurance varies from person to person, depending on family and financial circumstances.

Generally, you need life insurance if other people depend on your income or if you have debt that will carry on after your death. However, the older you get the more expensive life insurance costs. A healthy non-smoking 20-year-old will pay less than someone with the same health profile but who is 20 years older. If you wait too long to purchase life insurance, not only is it more expensive, it can be harder to get the policy approved by an insurance underwriter.

KEY TAKEAWAYS

If others depend on you financially — or you have debt — it’s crucial to have life insurance.

This is because life insurance ensures that your financial obligations are taken care of and your family supported even if you have an untimely death.

The sooner you purchase life insurance, the better, as it becomes more expensive with each passing year.

Term life is cheaper but only lasts for the number of years of the policy term (e.g., 20) and does not feature a cash component.

Permanent life insurance has a cash value component. Holding the policy for longer lets that cash value grow over time.

Why Younger Is Better

When it comes to timing, the younger you are when you buy life insurance, the better. This is because, at a younger age, you’ll qualify for lower premiums. And as you get older, you could develop health problems that make insurance more expensive or even disqualify you from purchasing a plan.

However, younger people faced with mortgages, car payments, and student loan debt tend to put off buying life insurance. While paying off current debt is critical, missing out on buying life insurance at a young age has a significant economic impact, much like delaying saving for retirement. The sooner it is purchased, the better.

When to Purchase Term Insurance

Term life insurance covers you for the term of the policy. While younger is generally better, when that term should start may also be based on when you anticipate other people depending on your income. You’ll want the term of the policy to last as long as your dependents will need your income. For parents, this is often until their children are grown.

People in couples who own property together may want to be covered until their mortgage is paid off. If both people in a couple are earning income that is crucial to the family, then each should be covered. Parents who don’t earn income may also want to consider coverage, as their unpaid labor (childcare, etc.) might need to be replaced by paid services (like daycare) in the event of their death.

Life insurance may be prudent even before you have dependents if you have unsecured debt, such as credit card debt or some private student loans. For instance, credit card companies require that all outstanding balances be paid upon the death of the holder.

When to Buy Permanent Life Insurance

With a permanent life insurance plan, the cash value grows tax-deferred. Premium contributions to whole life policies purchased at an early age can accumulate considerable value over the long-term time, as the cost of insurance is fixed for the entire term of the policy.

Cash value can even be used as a down payment for a first home purchase. If held long enough, what you accumulate may be able to supplement retirement income. However, the money needs time to grow, which is why an early start is best.

Cost of Waiting

Forgoing life insurance purchases at a young age can be costly. The average cost of a 20-year level term policy with a $250,000 face amount is about $214 per year for a healthy 30-year-old male. In contrast, the annual premium for a 40-year-old male is about $486. The overall cost of delaying the purchase for 10 years is $2,720 over the life of the policy.1

Additionally, waiting to purchase life insurance can have a greater impact on an attempt to purchase a policy. Medical conditions are more likely to develop as an individual grows older. If a serious medical condition arises, a policy can be rated by the life underwriter, which could lead to higher premium payments or the possibility that the application for coverage can be declined outright.

When Is the Best Time to Get Life Insurance?

The younger and healthier you are, the lower the cost of a life insurance policy will be. If you are thinking about starting a family, it is often smart to buy life insurance at that time, making it more affordable in the long run.

What Life Insurance Should I Get When I Have a Baby?

If you have children, life insurance can provide much-needed financial support in the event of an untimely death. In terms of amount, the death benefit should be enough to cover all of your existing debts and obligations, replace your income for the years that your children would still rely on you, and be able to also pay for things like a college education.

When Should I Buy Term Life Insurance?

Term life insurance can be the more cost-effective option when you only need the death benefit for a limited number of years, and not for your entire life into old age. This will depend on everyone’s own individual assessment and financial situation. Talk with an insurance agent to help you decide what is best.

When Should I Buy Life Insurance for My Child?

Life insurance policies can be taken out on children soon after they are born. A permanent life insurance policy for a young child will come with a far lower premium than for when that person is an adult. At age 18, you can then transfer the insurance policy over to the child so that they will have coverage going forward.

Should I Buy Life Insurance When I Am Young and Single?

This all depends on if you think that you will start a family in the future. If so, it’s good to buy insurance when you are younger, when it is more affordable. You may also want life insurance to establish an estate, give to charity, or repay debts and obligations upon your death, whether or not are single.

The Bottom Line

The longer you wait to buy life insurance, the more expensive it will get. Moreover, if you wait, you run the risk of deteriorating health, which may make you ineligible for some life insurance at that point. When you should get life insurance will depend on your personal and family situation, along with your finances and obligations. But in general, life insurance is less expensive when you are young.

If money is tight, a term life insurance policy can offer a financial safety net for your family. If you purchase permanent life insurance, owning it over many years will give the cash-value component of the policy time to grow.

Credits: THOM TRACY

Date: May 22, 2022

Source: https://www.investopedia.com/articles/investing/072816/what-best-age-get-life-insurance.asp 

[springlifeinsurance]

Hire Our Spring Life Insurance Agency in Spring, Tx

If you're looking for an insurance agency in Spring, Texas, then you've come to the right place. Spring life insurance’ policies can be a beneficiary for you. We are a full-service insurance agency that can help you with all of your insurance needs. Whether you need auto insurance, home insurance, life insurance, or business insurance, we can help you find the right policy for your needs.

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5 Questions about Corporate Wellness and Life Insurance

As a longtime proponent of corporate wellness, I believe we need the perspective and analysis of many experts concerning this issue. In my role as a life insurance professional, and based on my answers to the enclosed questions, I believe we can advance the ideals of wellness to companies of all sizes and industries. The fierce urgency of now demands that we address these queries, so wellness can flourish. ‍

Why is it Important to have Life Insurance?

If companies want to promote a culture of wellness, then workers need to know that life insurance is as indispensable as health insurance; the two complement each other, providing protection against potentially calamitous scenarios. We already know how financially ruinous it can be to not have health insurance: A single, unexpected event — like a sudden injury, due to playing sports or surviving the impact of an automobile accident — can result in tens of thousands of dollars of medical expenses.

Indeed, unpaid healthcare costs are the leading cause of personal bankruptcy in the United States; the direct consequence of decisions by the uninsured, who can otherwise afford coverage but forgo the chance to buy even the most modest of policies.

Life insurance is, in this respect, very much a corollary to health insurance because both instruments offer financial security against a possibly devastating, incurable illness or chronic medical condition. So, if we plan to speak about health and wellness — if we want employees to take better care of their bodies, and lessen their risk of contracting diabetes or heart disease or emphysema — then we need to have a national conversation, on a company-by-company basis, about the personal and economic benefits of having health insurance and life insurance.

We need to highlight the rewards employees can enjoy, with regard to improving their health and embracing a more active lifestyle. Those rewards include lower insurance premiums, superior coverage and the peace of mind that accrues because of this protection. A professional note: It is essential to have an expert, who understands these issues and can be an advocate on behalf of each person who wants to buy life insurance.

As the Founder of Local Life Agents, I abide by these words because I know how complex and frustrating it can be — and how misleading it often is — when it comes to trying to purchase life insurance. Streamlining this process and educating applicants about each step of this undertaking, is critical, period. ‍

What can High-Risk Applicants do to Improve their Chances of Receiving Life Insurance?

Answer: This situation is an opportunity for life insurance professionals to be just that: Professionals, who are teachers and experts about the many ways high-risk applicants can meet the various underwriting guidelines that insurance companies have regarding eligibility of coverage for certain medical conditions. For example: Someone with high blood pressure, or an applicant who is overweight and suffers from hypertension (and has a family history of stroke or heart attacks), can, first and foremost, choose to be more healthy.

A life insurance professional, in his or her role as an educator, can explain (at a minimum) the economic advantages of losing weight and achieving a better body mass index (BMI), which is one of the factors insurance companies use to calculate rates for the sort of applicant described above.

At the same time, I have a duty to encourage people to be healthy; I have a responsibility to at least inform individuals of the threats associated with not attempting to stop smoking or not lowering so-called “bad cholesterol,” or not fighting obesity and the onset of Type 2 Diabetes.

These disorders are, to one degree or another, reversible conditions — provided a person follows the practical steps that will reduce the risk of heart disease, mitigate the threat of diabetes or significantly lower the likelihood that an insurance company will decline to issue coverage for an applicant. Again, a life insurance professional’s role is to be a champion of good health or everyone! ‍

Why is Life Insurance an Integral Part of Health and Wellness?

Answer: The answer is simple: If we do not promote good health and wellness, then medical costs — for everyone — will increase while the chances of high-risk applicants getting life insurance will simultaneously decrease.

As a matter of basic financial common sense, never mind moral necessity, we must ensure people have health insurance and life insurance. The alternative is unacceptable because it will deprive companies of their most gifted workers, families of their most dedicated earners and whole communities of their most active citizens. ‍

Why is it Essential to have an Expert, who Understands this Issue, to act as a Trusted Guide Throughout this Process?

Answer: In so many words: Applying for life insurance can be difficult, worsened by erroneous information and false assumptions about costs, coverage and eligibility for specific policies. Only a seasoned expert can simplify this process, explaining certain guidelines, answering questions about particular rules and appraising applicants on a timely basis. ‍

How does Life Insurance Further Health and Wellness for so many Other People, Besides the Individual Applicant who Seeks Coverage?

Answer: Life insurance, like health insurance, protects loved ones from the economic aftershocks of a medical crisis. Without those safeguards, a family can become destitute and in an even worse state of emotional despair. Again, we have an obligation to prevent such things. We owe it ourselves to make good health a priority.

Credits: Brad Cummins

Date: 2022

Source: https://www.corporatewellnessmagazine.com/article/5-questions-about-life-insurance

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Insurance Coverage: A Business Necessity

Generally, homeowners insurance is not tax-deductible, nor are premiums, even though your premiums may be included in your mortgage payments. Why? Because homeowners insurance is not considered nondeductible expenses by the Internal Revenue Service (IRS).

What does this mean for homeowners? It means you, unfortunately, cannot itemize any payments for home insurance — including fire, theft, and comprehensive coverage — nor title insurance on your tax return.

A homeowners insurance policy offers protection against potential damages to one’s home. In addition, it typically covers a homeowner’s driveway, fence, garden shed, and garage.

Homeowners Insurance Coverage for Small Business Owners

It is worth noting if you run a very small business on your property — like lawn care or gardening business, your homeowners insurance might cover up to a couple of thousand dollars for it. If you do run a business on your property it is recommended you ask your homeowners insurance company upfront if it is covered or not.

If you run a larger business out of your home, it likely will not be covered, and you would need to take out an insurance policy specifically for the business.

For example, if you run something like a daycare in your house, for instance, your homeowners insurance policy would most likely require you to take out a commercial policy for your business.

KEY TAKEAWAYS

Homeowners insurance premiums are typically not tax-deductible

In special cases, however, they might be wholly or partially tax-deductible as a business expense: for instance, if you are a landlord

If your home or property is damaged in a federally recognized disaster, it may be possible to deduct uninsured financial hits your family incurs due to the disaster

Homeowners insurance is a non-negotiable cost for most mortgage lenders.

If you work from home and use a room in your house as a designated office (i.e., not the living room), you may be able to deduct part of your homeowners’ insurance.

How Homeowners Insurance Can Be Tax-Deductible

There are, however, two special instances in which you can likely deduct insurance payments from your home.

If you use your home or part of it for business. You may be able to take the square footage of your qualified home office space (or the part allocated for working in) as a percentage of the total home square footage; you’d apply that percentage to your premium, and deduct the resulting figure as a business expense.

If you’re a landlord and receive rental income from your home. Your homeowners insurance on the portion of the property used as a rental becomes tax-deductible. When you own several properties and those properties are used only for rental income, then all of the homeowners insurance is tax-deductible

Important: The itemized deduction for mortgage insurance premiums is available through 2020.

The Bottom Line

Homeowners insurance is a necessity to make sure your home, property, and possessions are protected against fire, weather, theft, or liability. In fact, if you’re taking out a mortgage, many lenders require you to have a policy. So, if even if it doesn’t carry a tax break with it, homeowners insurance is worth the cost.

Credits: Damian Davila

Published: August 25, 2021

Source: https://www.investopedia.com/ask/answers/111315/homeowners-insurance-tax-deductible.asp