Life Insurance Guide

Life Insurance Guide

We’re looking at our life insurance at the moment. Life insurance plans differ in terms of coverage and the various types of policies that are available. We have great cover in place to cover us until our youngest is 12 years old. What we didn’t consider when taking this out, is what to do about us after that! One thing you should never do is rush into the decision of purchasing a life insurance plan, clearly. This mini guide looks at choosing life insurance the right way.

Life Insurance: Tell the Truth

One of the biggest mistakes people make when applying for life insurance is failing to reveal any health issues they are suffering from. Some people think it is better to lie on their application or purposely disclose information, as they will be able to lock in better premiums. But, if you do this, you will only suffer in the long run, as your policy will become invalid, and your loved ones won’t receive a lump sum when you pass away. Assuming life insurance is the only type of policy you need is another error. QAccounting.com can help you with this. What about policies that can protect you while you’re still alive?

Choose Your Life Insurance Mindfully

You also need to be mindful when choosing reviewable life insurance policies from insurance companies. While there is nothing wrong with going down this route, you do need to be fully aware of the fact that the premium is only guaranteed for a set period of time, anything from around three to ten years. After this time your policy can be repriced. Moreover, if you are thinking about taking out a joint life insurance policy for you and your partner, you may be better off going for two separate life insurance policies, as they offer more value and flexibility. Finally, watch out for low start policies, as the monthly premiums can increase throughout the policy term.

Finding The Best Life Insurance Quote

Life insurance quotes may be something you have searched on the Internet already. You may be startled by the difference in the quotes provided. This is because there are a number of different factors that are considered when working out life insurance premiums.

It is important to understand what is considered by insurance companies when they put together a quote, as this will help you to understand what is a fair price and what is not. Basically, the greater risk you are, the more you will pay. So, to put it bluntly, if an insurer deems you have a higher chance of dying than someone else, you are going to pay more. The main factors they will consider are your health, age, family medical history, and lifestyle. Of course, your health is important because, if you have any on-going medical issues, the insurer is clearly going to deem you to be high risk. The older you are, the more you can expect to pay. If there is a history of cancer or any other type of serious issue in your family medical records, you may be charged a higher rate. Also, if you live a dangerous or unhealthy lifestyle, this will also make you a bigger risk.

Despite all of this, one thing you should never do is lie on your application. If you do so, the insurer will make your policy void, meaning your children or partner are left with no money at all. This is not a risk worth taking. Instead, the best way to find a good life insurance quote is to use a comparison website.

Our Life Insurance

The above advice is sound. Now that we are looking for separate insurance to protect us in our twilight years we are finding that there are a huge number of products and options available and that our premiums may be higher because I am now diabetic. I am considering specialist insurance that caters for specific health issues, ensuring proper coverage without the ridiculous costs. Who said that adulting wouldn’t be fun?

Retirement Options

Retirement Options

Do you ever think about your retirement? We do. We’ve been working so long that it becomes a puzzling question of what shall you do now for the rest of your life? Work gives us routine and something to aim for, but retirement seems to take all that away. That’s what it might seem like on the surface especially to people who haven’t done proper research into their options. Retiring for many people seems scary because it’s like a confirmation that they are heading into their twilight years. However, retiring from the workforce and living your own life without any worries of a 9 to 5 should be uplifting. Now you get to do all the things you never thought you could and really spoil yourself post retirement. 


 Using Your Senior Skills

Many people above the age of 70 still retain a lot of enthusiasm for their profession. In fact look around the world and you see many people in their 70s in the most senior positions of business and many other jobs. This is because they have a lot of experience, knowledge, and have made the right decisions to become a senior figure in their industry. If your parents are looking to retire and are one of these people or you believe that they have such great skills that they shouldn’t be wasted, speak to them about working for themselves as a consultant. Consultants are basically like freelancers, they offer their skills and expertise to anyone that is willing to listen and pay them.

You don’t have to do anything that is tiring or requires a lot of legwork. Your wisdom and words are the only thing people want. These people that would hire you would be entrepreneurs that want knowledge of special tactics, small business owners that want to grow and expand, and of course corporations that need cool and calm experienced heads in their boardroom. Many c-suites will use senior consultants as their personal advisors and these positions can easily fetch a cool six-figure salary. So if you have parents that are retiring from a busy office, tell them that if they still have passion for their industry, they might want to become a freelance consultant. 

 Low Stress High Reward

Much like the consultant work, there are teaching jobs you can take on to pass on your knowledge. If you are someone looking to retire from the workforce and just take each day as it comes and slowly relax into old age, you can still find pleasure in teaching. For example, if you are a professor in a university and you just want to stop marking coursework and exams, as well as teaching full classes but still love your work, then look towards tutoring. Why should you stop working just because your body is ageing? If your mind is fresh and loves your subject so much that you want to impart knowledge into the world, then look toward becoming a private tutor.

Firstly, it’s far less stressful as you’re only dealing with however many clients you wish. You pick the days you want to work and the hours you want to put in.  Since you’re dealing with clients on a one-on-one basis, you can take your time to explain the intricacies of your work and the things they need to understand. You can tutor at your home and have no need to meet up anywhere. It’s simple, it’s relaxed and it’s still mindfully engaging.

Retirement With Care

If you’re someone that is looking to retire but you would still like to enjoy the things in life you have now, then you have many options. Those that know they are physically unable to wander around and go see things they would like to, often find themselves in the house a lot. For that you have options for carers to come visit you at home and perform all sorts of tasks. Take a look and compare the live-in care options that you have regarding your own city. The website offers a directory to many services and then compares them to see which might be best for you. The feedback that each service receives is also taken into account so you can make the best choice from previous users. We’re not quite at this stage yet but it’s good tobe able to have such info to pass onto relatives.

Retirement is far from boring, not in this day and age. That old image of a gloomy few final years is but a stereotype that needs knocking on its head. Now you can still work, but absolutely to your own wishes and probably make more money as well. You can tutor privately, passing on knowledge to the next bright young minds. You may want to take up private consulting so you can help executives in their companies while playing a less stressful role.