1. Reach Out to Others

You may experience a range of emotions on Mother’s Day, from numbness to anger, according to the British Psychological Society. Acknowledge your emotions as being valid and a part of the healing process, while attempting to mitigate any problematic behaviors that come from feeling these emotions. Look into an emotional support group in your area for other bereaved mothers. It’s likely they have an activity or meeting on Mother’s Day to help the group cope with their shared losses.

2. Remember to Celebrate

You’re allowed to celebrate Mother’s Day as much as you’re allowed to grieve on this day. To brighten your day, arrange Mother’s Day flowers from FTD.com to be delivered to your own mom, who may also be dealing with feelings of grief for you. Plan a picnic with your loved ones or consider treating yourself to a day at a spa to enjoy some pampering. Whether you choose to spend the day alone or surrounded by others, commemorate the day in a way that has meaning to you.

3. Get Creative

When’s the last time you picked up those knitting needles? It’s challenging to find time for hobbies and creative outlets, particularly when you’re going through a mourning period. Use Mother’s Day as a way to rekindle your love for creating, whether you break out your paint brushes, try a new recipe, tend to your dilapidated garden or write in your journal.

4. Surround Yourself with Loved Ones

Grief often manifests as an empty feeling, so mitigate that by bringing people around your house to celebrate with you. Encourage everyone to participate in a potluck Mother’s Day brunch if you’re not feeling up to preparing a full meal. Channel your attention the day before to creating a cheerful tablescape for your guests, so that the preparation the day-of won’t become overwhelming. Incorporate an activity into the day that honors the memory of your child while also celebrating motherhood for all those in attendance.

5. Help Other Children

If you lost your child during infancy and you’re still producing breast milk, consider donating your milk to help other children during their younger years. The Human Milk Banking Association of North America has a variety of locations and resources to help you donate your breast milk. Another way to help children is to volunteer for a Big Brothers Big Sisters program, where you can work as an exhibit guide at a science center, or talk to the local school about teacher-assistant positions in the classroom.

The post 5 Ways to Acknowledge Mother’s Day After the Death of a Child appeared first on LifeInsure.com.

Many people don’t think about what will happen to their life insurance policy once their 10-, 20-, or 30-year term is up. At the end of a term, your insurance needs have most likely changed. It’s possible that your children are now adults and don’t need your financial support, but your spouse may be approaching retirement. An expiring term does not eliminate the need for life insurance. So what should you do when your term policy comes to an end? We offer the following suggestions:So, what happens at the end the term, you ask?

There are several options available:

Renew the Policy

With most companies, you can renew your existing term-level coverage without a medical exam or questionnaire. The trade-off for this renewal is usually significantly higher premiums that increase annually. This might be the best option for individuals in poor health who may not qualify for a new policy.  I get (often frantic) calls daily from people who have recently received renewal notices at the end of their policies’ term periods, in total disbelief at how much the premium is going up.  That is certainly an option, but we advise against doing this in most cases.

Purchase a new term policy

If you are in relatively good health, consider shopping around for a new life insurance policy. Due to the fact that many people are living longer, premiums are relatively inexpensive. You will most likely get a better deal on a new life insurance policy than you would renewing your old one.

Return-of-premium option

If you chose to pay for a return-of-premium rider on your expiring policy, at the end of your term, you are now eligible to have your premium payments refunded. Another option is to take the “paid-up option,” which provides you with a policy which is paid up by the returned premium.  The death benefit will be considerably lower than your expiring policy.  It is important to consider that premiums are significantly more expensive under this provision, so you may want to skip it for your next term policy.

Conversion

Many term policies have a conversion option, which allows you to convert the policy into a permanent policy (usually universal life) at the same health class you were originally approved for the expiring term policy.  The conversion period varies with the length of the policy and your age.  However, most policies allow you to convert until the end of the term.  The benefit of this option is that it allows you to convert to a permanent policy at the same health class you were assigned for your term policy.  This is great for those whose health has declined since purchasing their term policy and have a need for lifetime coverage. The premiums are considerably more than the term policy because they will be guaranteed for life.

Purchasing a 30-year term policy vs. purchasing a 10-year term policy every 10 years

We always recommend purchasing the longest term policy that fits your budget, unless you have a shorter need for specific purposes (e.g. key person insurance).  By doing this, you will lock in your current health class until the end of the term, rather than purchasing a new policy more frequently, risking higher premiums due to negative changes in your health.

There isn’t a great difference in price if you purchase a 30-year policy or renew a 10 year policy twice (it varies based on age and health class), provided your health doesn’t change.  I ran some quotes for a 35-year old male for a $500,000 term policy.  I quoted both a 30-year term and a 10-year term, renewed twice.  For a male in the best health class, purchasing a 10-year term policy every 10 years (to age 65) was actually a bit less expensive over the thirty years than the 30-year term (about a $600 difference over the 30 years).  When I ran the same numbers for the Preferred Health Class, the 30-year option was approximately $2,000 less than the 10-year option.  Again, it depends on one’s age and health class when the policy is purchased.

However, who can predict what their health will be in 10, 20 or 30 years?  Will a healthy 35-year old male be in the same health at age 55, when the last of the three 10-year policies needs to be purchased?  Most of us have changes in health as we get older, so by locking in rates at a younger age takes the risk out of the equation (it actually transfers the risk from you to the insurance company). 

Whether you choose to renew your term policy, purchase another or get a refund, make sure you keep your family’s financial security in mind. For a life insurance quote, please browse our website to see which options would work best for you and your loved ones.

The post What Happens when your Term Life Insurance Policy Ends? appeared first on LifeInsure.com.

Find Bereavement Groups

It helps to talk about your problems with people who are going through the same thing, at least for the first few months after a loss. Help your parent find a local group for seniors who have lost a spouse. They’re often offered at local hospitals, by research foundations connected to certain fatal diseases, and even through local community centers. Dealing with the grief with a group of people who’ve gone through it themselves can help to speed the healing process.

Help With Big Changes

While experts agree that you shouldn’t make major life changes immediately after a loss, your parent may eventually need to downsize from a large family home into something more manageable. Help your parent transform a basic apartment into a warm and welcoming home. You should also help with the difficult task of going through personal and financial documents, including life insurance policies. While it can be challenging, it’s necessary. Unfortunately, even a deceased person is at risk for identity theft or fraud. Make sure documents are secure and all information is accounted for.

Help to Fill Her Days

If your parent spent most of the time being involved in the family, he or she may feel useless and at odds after the loss of the family unit. Help them find other ways to occupy the days besides caring for someone else. What are his or her interests? Does she love to read? Find a book group or two for her. Is he into trains? Connect him with a railroader’s club. Search your local community to find a list of activities to fill your parent’s day, and help through the application process.

Help Find a New Companion

No, dating isn’t on your grieving parent’s mind, but that doesn’t mean he or she can’t do with a little companionship. After the first couple of months is a great time for your parent to think about adopting a pet. Having another creature in you parent’s life to care for will offer a sense of structure, as well as allow your parent to receive unconditional affection. Seniors often do well with so-called “senior dogs,” those dogs past puppyhood and well into the adult life. They’re already trained, past the chewing and accidents that puppies do, and are often much calmer than younger dogs. Shelters are especially happy to see senior dogs adopted out, as they are often the most difficult ones to place.

The post Helping Your Parent Through Spousal Loss appeared first on LifeInsure.com.

I started thinking, as the life insurance broker that I am, about the life expectancy of American Presidents.  Does stress contribute to a shorter life span for our Commanders in Chief than us “normal” folks?  I did a little research and it appears that most U.S. Presidents actually live beyond the average life expectancy.

Take the first eight Presidents, for example – the average lifespan was 79.8 years, during a time when life expectancy at birth for men was less than 40 years old.  More recently, the trend has been even longer life – from Herbert Hoover through Ronald Reagan, excluding John F. Kennedy (who was assassinated at age 46), the average age of death was 81.6 years.  The exception was Lyndon B. Johnson who died of heart disease at age 64.

In a research letter by noted University of Illinois at Chicago demographer S. Jay Olshansky, published in the Dec. 7 issue of JAMA, the Journal of the American Medical Association, Olshansky found that 23 of the 34 U.S. presidents who died from natural causes lived longer, and in many instances significantly longer, than predicted.

The study also found that living ex-presidents have either already exceeded their predicted longevity at the time of their inauguration, or are likely to do so. “We know that socioeconomic status has an extremely powerful effect on longevity now,” Olshansky said, “and it was likely to have been a factor in the past.”  All but 10 U.S. presidents were college educated; all were wealthy; and all had access to health care.

I would be interested to find out if life insurance company actuaries consider the job of President as a hazardous occupation, based on the assumption of the job being extremely stressful, as I suggested earlier.   Based on the average life expectancy found in this study,  this would be a mistake on their part.

Read more about this study at: http://medicalxpress.com/news/2011-12-average-life.html#jCp

The post American Presidents and Life Expectancy appeared first on LifeInsure.com.

I offer my sincere apologies to Elizabeth Barrett Browning, her fans and to
all fans of poetry for the following Valentine’s Day wish:

How do I love thee? Let me count the ways.
I love thee to the depth and breadth and height
My soul can reach, when feeling out of sight.
For the ends of Being and ideal Grace.
I love thee to the level of every day‘s
Most quiet need, by sun and candle-light.
I love thee freely, as men strive for Right,
I love thee purely, as they turn from Praise.
I love thee with a passion put to use
in my old griefs, and with my childhood’s faith.
I love thee with a love I seemed to lose
with my lost saints;  I love thee with the breath,
smiles, tears, of all my life! And, if God choose,
I shall but love thee better after death.

I’m sure you will continue your love for me
long after my death, as you will find your life
won’t differ financially from when you were my wife.

Even though I won’t be here to share it with you,
your lifestyle, comfort and security will be assured
as a result of my being properly insured.

So, for this Valentine’s Day, in addition to flowers and candy,
I have decided to give you something that will come in handy
for that time when I won’t be here to share in your joy.
A gift for you and our baby boy.

I know a life insurance policy isn’t the most romantic gift I’ve given you
since the day we walked down the aisle and said “I do.”

But it’s the gift that will keep giving after I’m gone
and will keep you from “selling the farm.”

Happy Valentine’s Day

The post How do I Love Thee? appeared first on LifeInsure.com.

The Basics:

The concept of life insurance is pretty universal. You pay a monthly premium for a certain amount of coverage to go to your beneficiaries when you die. The money can be used to cover your debts, pay funeral and other death-related expenses, and replace your income that would have been going to your dependents.

Nowadays, if you move abroad, you will most likely be able to keep your insurance, as long as you keep paying your premiums. You’ll want to check with the provider though before signing up for coverage or making any moves. Also, if you go into a country that is considered “hostile” then you might not be covered if you die in certain circumstances. Be sure you’re completely aware of what your coverage does and does not cover.

Most of the regional differences in life insurance lie in taxes. And though you may be able to keep your policy after moving, the way the funds are taxed may change. Here are the life insurance tax policies for some major countries.

United States

Life insurance premiums are not tax deductible, nor are after-death proceeds subject to being taxed, unless they are included in the deceased’s estate. The cash value of policies have very detailed complicated tax rules which can change based on situations and of course, and the whim of the tax law decisions of lawmakers.

Australia

In Australia, life insurance premiums paid through a superannuation fund are tax deductible. Life insurance outside of superannuation is not deductible, however, and the superannuation deductions are subject to age limits. For more information about Australian life insurance, check out the GIO personal life insurance page.

U.K.

Life insurance premiums are not deductible, and when the coverage is paid, it is not counted for income taxes. Like the US, moving to hostile countries can affect coverage, and changing citizenship can also affect your plan.

If you’re moving abroad, either permanently or temporarily, it is important to know how your life insurance will be affected. Communicate openly with your provider in order to secure the best coverage possible and protect the ones you love in case of emergency.

The post Comparing life insurance policies in the U.S., UK, and Australia appeared first on LifeInsure.com.

• Understand your earnings
• Save and invest
• Protect your money and assets
• Be careful with spending and borrowing

Understand Your Income

Review your pay stub. Know what the deductions are for and how to make adjustments. Make sure you are claiming the right number of exemptions, so you don’t end up owing taxes at the end of the year. If your employer offers benefits that are paid through payroll deductions, be sure you understand how much they are costing you and how they benefit you.

If you receive payments each month from an annuity or structured settlement, review the terms and conditions as compared to your current debt situation. It may be more beneficial to sell your future payments for a lump sum of cash now, which you could then use to help pay off any high-interest debt. Visit the J.G. Wentworth page on Facebook for more information about selling your future payments.

Save and Invest

Saving is one of the most important financial habits you can have. It helps you plan for future purchases and protects you in the event of emergency. If you haven’t been saving, start now. Make it a rule to pay yourself first, even if it’s only $10. Set up automatic deposits from payroll to make sure money goes into your savings account regularly. Financial planning experts recommend building an emergency fund equal to three months’ income before you make any other financial moves, such as investing or taking out an auto loan. Investing enables you to make money on your savings. Before you invest money, consult a financial planner for assistance.

Protect Your Money and Assets

Use good personal finance habits:

• Protect your identity and account information, and know your credit score.
• Review bills and bank statements and file them in a safe and organized way.
• Always know who you are revealing your personal and financial information to, including Social Security number, bank account numbers, credit card numbers, your birth date, your home address and your mother’s maiden name.
• Review your major financial documents including insurance policies, auto loans, credit card balances and mortgage statements each year—quarterly if possible—to be sure you understand where your money is going and that adequate protections are in place.

Be Careful With Spending and Borrowing

Your ability to borrow money for large purchases such as car loans or mortgages depends on more than just your income. It also depends on your credit history. Know your credit scores, and how to improve them if necessary. Make a workable budget and stick to it. If you are thinking about a major purchase, don’t make any rash decisions. Take your time, and shop around for the best price and interest rate to make sure you get the best value for your money.

The post The 4 Cardinal Rules of Smart Money Management appeared first on LifeInsure.com.

Motor Vehicle Accident

Photo: 1

While you cannot control other drivers on the road, here are some easy steps to prevent any sort of motor vehicle accident when you are the driver:

• Obey the Speed Limit
  According to data from the Fatality Analysis reporting System (FARS) taken in 2009, driving in excess of speed limits was a contributing factor in over 99% of all speeding-related fatal crashes. Though not all motor vehicle accidents are fatal, passengers are oftentimes left hurt. Take heed of the speed limit when driving and do not exceed those parameters.
• Drive Defensively
  Defensive driving is not code for “driving really slow.” It is, however, a manner of driving that involves using safe driving strategies and techniques to allow for motorists to identify potential road problems ahead of time. Proceed with caution, especially in higher-trafficked areas like intersections.
• Buckle Up
  Although it won’t prevent motor vehicle accidents, wearing a seat belt will help to avoid life-threatening repercussions oftentimes involved with severe crashes. Furthermore, should you get caught without wearing a seat belt, you will be ticketed. So buckle up to remain safe and ticket free!

Athletic-Related Accident

Photo 2

Physical activity is part of our everyday lives and is necessary in order to maintain good health. However, certain precautions should be taken in order to remain safe when engaging in such activities:

• Wear a Helmet
  Whether you’re about to hit the slopes on the snowmobile or are practicing your swing at  the batting cages, wear a helmet! Each year, thousands of head injuries occur that would have been easily-prevented should the individual(s) involved have been wearing helmets.  Don’t be another brain injury statistic!
• Never Be Alone
  Even if you are only headed to the backyard to practice a few somersaults, make sure that someone is aware of where you are and what you will be doing. All too often we  convince ourselves that “nothing could possibly go wrong,” and when an accident occurs we are left alone to try and seek out help. 127 hours, anyone?
• Drink Water
  Though most people do not realize it, becoming dehydrated while performing exercise can produce some pretty nasty effects. Some of these include lightheadedness, cramping, fatigue, vomiting, and (in extreme cases) requires immediate medical treatment. The lesson? Stock up on H2O!

Boating Accident

Photo: 3

According to data released from the United States Coast Guard, there were over 4,500 boating-related accidents that occurred in 2012. With these numbers in mind, it is imperative to take every precaution prior to going out on the water.

• Wear a Life Jacket
  According to the Coast Guard’s statistics, nearly 71% of boating accident fatalities were caused by drowning, and of those almost 85% were not wearing life jackets. This is one of the easiest ways to prevent harm should you be required to “jump ship.”
• Check Weather Conditions
  Though this might seem obvious, check the weather forecast before venturing out on marine territory. Should predictions include rough waters or inclement weather conditions, take a “rain check” and stay on terrestrial terrain for the day.
• File a Float Plan
  Many people are not even aware of what this is. A float plan is an informal, written document that is submitted to a friend, your marina, etc. that details your boating excursion (who is on board, your estimated time of arrival, etc.). This is especially important for longer trips when friends and associates do not anticipate seeing you for a longer period of time.

Slip and Fall Accident

Photo 4

According to the National Safety Council, falls are the second-leading cause of unintentional death in homes and communities and accounted for over 25,000 deaths in 2009. Keep the following in mind in order to prevent any tripping calam

• Footwear
  This is not a plug to do away with your high heels. But should you know that excessive amounts of walking or stair climbing will take place, opt for a more secure shoe. Make sure you are wearing footwear that is both appropriate for the setting and that fits well.
• Flooring
  When making flooring purchases for your home or other space, pay attention to the quality of the surface. This is especially important if there are young children or elderly people around (as they are more likely to have a bad fall).
• Look Down
  For instances wherein you have no control over the flooring conditions, pay attention to where you walk. Though this might sound obvious, many accidents that occur as a result of falls could be easily avoided should a little more observation been employed.  

Accidents happen, but that doesn’t mean that they could not have been avoided. Take some time to do a personal inventory of your safety techniques (do you opt for a helmet or life jacket?) and keep yourself bulletproof from these common accident pitfalls. Whether you are a personal injury lawyer in Midland or a financial analyst in Montreal, we all could use a little more caution in our sometimes carefree lives!

Also, make sure your family’s finances are protected should something happen to you, with life insurance from LifeInsure.com and disability insurance from ProtectYourIncome.com.

Author Byline:
Annie Babbitt is a freelance writer whose interests include current events, political science, and law. Annie loves helping promote change and being an advocate for those in need. She especially loves writing about legal topics, and draws inspiration for her writing from companies that work in personal injury litigation such as Little John Barristers.

The post 4 Life-Threatening Accidents—and How to Avoid Them appeared first on LifeInsure.com.

Most life insurance professionals recommend a policy review on an annual or bi-annual basis to see if any of the following changes you made would impact your policy:

Administrative Changes

• Address or other contact information changes:  While this is a simple change, you would be surprised by how many people don’t notify the insurance company about this one.  We get dozens of calls annually from our clients, worried that they haven’t received their bill from their  insurance company.  Invariably, we find out that the client moved and failed to inform us (who would have assisted with the change of information) or the insurance company.  Unfortunately, we have seen far too many clients’ policies lapse because they failed to notify the insurance company about the change.
• Change of bank account:  This one applies if you pay your premium by bank draft.  If you don’t notify the insurance company of this change and provide them with new account information, they won’t be able to debit your account.  If they can’t contact you before the end of your grace period, your policy will lapse.
• Change of Beneficiaries:  This would include changing, adding and removing beneficiaries.  You would most probably add new children to the policy and a new spouse or partner.   Conversely, if you got a divorce or separated from your spouse or partner, you might want to remove this person as a beneficiary (be careful to follow any court order to maintain the beneficiary status of an ex-spouse for a specified period of time, if so ordered).
• Change of Policy Ownership:  In many cases, the owner and the insured person are not the same, as in when a trust is the owner of the policy.  If you establish a trust after you purchase your policy, you could consider transferring ownership of the policy to trust.  In many  cases, you would also name the  trust as the beneficiary.

Policy Changes

The following  life changes should  trigger a need for a policy review (some of these also fall under Administrative Changes):

• Birth of Children:  If your policy doesn’t account for all those who are dependent on your income, you might need to increase the amount of your death benefit.  This typically requires either replacing your current policy with a new one with a higher benefit or adding to your current policy with a new one.  The choice is usually dependent on which option is the most economical.
• Change in Income:  If your income increased significantly, you would want to make sure the death benefit of your policy is great enough to replace your income for a specified period of time, in the event of your death.  Conversely, if you had a drop in income, and don’t expect it to recover, you might want to look at decreasing your coverage.  Increases in benefit can be done as explained above, but decreases can typically occur within your current policy, only requiring completion of a short form.
• Health Improvements:  If you quit smoking cigarettes (or using other nicotine products) and you’ve been nicotine-free for at least a year, your smoker rates can usually be changed to non-smoker rates, resulting in much lower premiums.  If you’ve lost weight (and kept it off for at least a year), you might also qualify for lower premiums.  Improvements in your cholesterol readings and/or blood pressure can also lead to a better health class and  lower rates.  In most cases where health is improved, the insurance company will make the changes to your current policy.  In some cases, a new policy might be the way to go, if that was more beneficial, economically.
• Health Deterioration:  If your health declines, the insurance company cannot raise the premiums of your current policy.  However, this would be a good time to look at the policy’s Conversion feature, which allows you to convert your term policy to a permanent policy (universal life or whole life) without changing your original health class.  If you are approaching the end of your term policy and your health has deteriorated, this would be a good time to take a look at converting your policy.

Reviewing your policy regularly guarantees that your policy will keep up with your life changes and, therefore, will continue offering the most appropriate protection for your family.  It might not be the most fun activity you do, but it’s well worth the time.

The post Annual Life Insurance Policy Review appeared first on LifeInsure.com.

Take a moment to identify you and your family’s financial needs and concerns, and consider the importance of life insurance. Below is a step-by-step guide on how to most effectively go about purchasing life insurance for those of us who are not so money savvy!

Recognize That It Is Part of Your Financial Plan.

Sometimes, we all too easily dismiss life insurance because it is not a financial requirement like paying taxes. However, life insurance is a luxury that really should not be overlooked for its merits and value. Subsequently, it ought to be considered part of your own family’s financial strategy. Recognizing the essential nature of life insurance is the first step in ultimately choosing the right plan for you.

Calculate an Amount of Coverage Needed.

In order to purchase the most appropriate form of life insurance to meet your family’s needs, you need to calculate the amount of coverage that is necessary (assuming that the life insurance might actually have to be utilized). Oftentimes, insurance agents recommend coverage that account for 15 times your annual income. Your coverage might not need to be quite that high; however, it should be substantive.

Decide What Form to Buy.

In layman’s terms, it usually boils down to choosing between two different types of coverage: term or permanent. Term life insurance is the most popular. It provides coverage for a set number of years and usually has a fixed premium that is paid on a monthly time frame, for example. Permanent life insurance is more complicated and usually involves a cash-accumulation component. Permanent life insurance is normally in place for life and is more expensive than term coverage. In most cases, you should be purchasing term life insurance.

Determine Your Time Frame.

After having determined what type of coverage to buy, it is necessary to determine for how long that coverage should be in effect. If you have young children, for example, you might want to invest in a 20 or 30-year term so as to ensure that they are financially safe until they are able to provide for themselves.

Consider From Whom You Are Buying.

Like any other financial instrument, it is critical that you do your homework beforehand. Take some time to compare sites and shop around for the right agent. There are some really great tools available on LifeInsure.com that provide financial strength ratings of insurance companies, such as A.M. Best, Standard and Poors, Moody’s or Fitch. Do your research, and you’ll undoubtedly be volumes ahead of the game when it comes time to determine which company and which agent will best suit your needs and address your concerns.

Buying life insurance does not have to be rocket science. Whether you are a civil attorney that deals with car accidents in Edmonton or a physical therapist that handles sports injuries in East Rochester, purchasing life insurance is something even the biggest “idiot” can—and should—consider.

Author Byline:

Annie Babbitt is a freelance writer whose interests include current events, political science and philosophy. Annie loves helping promote change and being an advocate for those in need. She especially loves writing about legal topics, and draws inspiration for her writing from companies such as Braithwaite & Boyle.

The post An Idiot’s Guide to Purchasing Life Insurance appeared first on LifeInsure.com.