3 Important things to remember in your budget plan!
If you are starting to put together a budget plan there are three things to consider in order to include everything you need to protect your family financially.
3 Things To Consider When Putting Together Your Family Budget Plan?
Some people don’t think about getting life insurance and assume it’s a waste of money. Here’s a simple list of why you need it!
- Someone has to pay funeral costs if you die. These costs usually run up to or around $30,000. No life insurance could mean more debt or a depleted savings account. Consider a whole life policy that works like a savings account and often you can stop payments after a set amount of years and still have the money available when you need it.
- If you have a mortgage and a family and you die, will they be able to pay the mortgage? If they can’t, it could mean a dramatic change in lifestyle or losing their home.
- There could be unpaid hospital bills that your health insurance hasn’t covered. Will your spouse be able to pay them? While you need to consider these reasons to protect your assets, it also benefits you to find the right company to work with. I’ve done some searching and found a company called HealthIQ. Life insurance can be complicated and when I purchased it the first time I made the wrong choice. I tell you more about that below. However, the great thing about HealthIQ is that they specialize in getting better rates for people who are health conscious.Health IQ, a life insurance agency, has partnered with life insurance companies for low rates on life insurance for health-conscious people. Learn How to Save Money on Life Insurance with HealthIQ
You might be thinking that health conscious people have always gotten a break with life insurance.
However, most insurance companies do not consider current diet or exercise habits when setting their rates. Health IQ! You can save money on Life Insurance.
For example, a weightlifter who has higher BMI will often get penalized. Health IQ has worked with insurance companies to recognize this difference, so muscular builds aren’t penalized.
They focus on you, not your family history.
They take into account runner’s heart (also called slow resting heart rate).
There are so many differences in how Health IQ approaches life insurance in comparison to other insurance agencies. Read more about them on their site. Also, don’t hesitate to do their quick free quote.
Should health conscious people pay the same rates as those who don’t take care of themselves?
When someone is doing the right thing, don’t we usually reward them? Common sense says that low rates on life insurance for health conscious people could encourage people to keep their waistlines smaller, continue eating healthier, and keep them exercising! All of this would bring huge savings to everyone involved! Money is a great motivator!
Here are the facts that Health IQ found that contributed to convincing these companies to lower their health plan costs.
Health Conscious – Did you know that people who have a good, well-rounded foundation of health knowledge have a lower mortality rate? Health IQ found that out of a million men and women with a well-rounded health knowledge, women had a mortality risk reduced by 56%, and men’s mortality risk was reduced by 57%.
People with low health literacy are 69% more likely to be hospitalized.
Runners have 30% lower rate of all cause mortality. They have a 49% lower rate of cardiovascular mortality.
If you run marathons twice a year: you’re 87% less likely to be diabetic, 59 % less likely than non-marathoners to be diabetic if you run one marathon a year every five years. HealthIQ lets runners save more on life insurance. Click here to learn more.
Yoga – According to research done at Ohio StateUniversity, Women who practiced yoga for two years have 42% less inflammation in their bodies than those who are just starting. According to research presented at the 2013 annual meeting of The Society for Neuroscience practicing yoga regularly increases gray matter in the brain. Practicing yoga means a healthier brain as it relates to stress, visualization of self, directing attention, and a better concept of self. More details at Health IQ.
Swimmers – According to a 2008 study published in the International Journal of Research and Education, swimming leads to a 53% lower all-cause mortality rate! Swimming regularly causes a 10% decrease in LDL cholesterol.
Cyclists – Cyclists who ride an hour a day have an 18% reduction in all cause mortality. They have a 45% reduction in cancer incidence. Cyclists have an 18% lower incidence of lower cardiovascular incidence according to a 2012 study in the European Journal of Cardiovascular Prevention. Cyclists have a 15% increase in HDL cholesterol.
Vegans – Vegans have 63% lower risk of hypertension according to a 2012 study published in the Public Health Nutrition Journal. They have a 15% lower risk of all types of cancer according to a 2016 study in the Critical Reviews in Food Science and Nutrition. Vegans have a 49% lower risk of type 2 diabetes according to the 2009 study in the Diabetes Care Journal. According to The Journal of the Alzheimer’s Association vegans also have a 53% lower risk of getting Alzheimer’s Disease especially in those that are predisposed to having the disease.
Tennis Players- Playing tennis 3 hours a week cuts your risk of early mortality rate by 50% according to Dr. Ralph Paffenbarger from Harvard University School of Public Health. If you play tennis twice a week, you have 17% less body fat compared to matched controls according to a 2007 study in The British Journal of Medicine.
Weight Lifting – According to a 2016 study in Preventative Medicine weight lifters have a 46% lower mortality rate. They have a 41% lower CVD death rate and 19% lower cancer mortality rate. According to a 2012 study by American Sleep Disorders Association and Sleep Research Society, those who train three days a week for ten weeks have a 30% improvement in their sleep quality. According to the 2009 American College of Sports Medicine position stand on Exercise and Physical Activity study, strength trainers, have a 21% better HDL cholesterol level, decreased LDL cholesterol by 23%, and 18% lower Triglyceride levels.
To be honest, all these stats motivate me to get into a little more activity in my life because I do want to live longer, doesn’t everyone?
The years of research that Health IQ has committed to their endeavor of rewarding the health conscious by getting them the rates they deserve all started with a good reason. You will see when you head to their site that the individuals involved in their mission have their own personal health stories. Their team members are aware of how valuable good health is to people. After all, they’ve experienced it themselves!
Those experiences are what makes this company’s mission so purposeful. Believe me, when you experience something yourself you are more likely to put more effort into all things involved with that experience.
Don’t make the same mistake I did!
It’s important for people who are inexperienced with life insurance to be aware of the different kinds of insurance and understand how they work in the long run. It can be confusing, but since Health IQ is an agency and not the life insurance carrier, it is their job to help you pick the right kind of insurance and the right company.
“Whole Life” policies cost more but will have a cash value accumulate over the years that you can get back eventually. So ask questions like, would I make more money on my investment in another way? Is whole life insurance a safer investment?
“Term life” insurance gives you no money back, and you are paying only for coverage that you get if you die. My husband and I had this, and after our 10-year term, the rate skyrocketed because of our age. We could no longer afford life insurance because by that time my husband had throat cancer. We assumed we would have money saved elsewhere by that time, but we didn’t. So term life policies have their downside also.
If you are young and healthy now, I would go with insurance that has a cash value because often you can make your payments for 20 years and then keep that amount you’ve accumulated and stop payments, but still, have your insurance if something happens. It gets a little confusing for some people so:
- Write down all your questions
- Ask anything and everything that comes to mind (no question is a dumb question)
- Do your research. Ask parents, friends, etc. about their experiences with life insurance