Life Insurance Awareness Month

September is observed as the Life Insurance Awareness Month (LIAM) across the country. It serves as an annual reminder to Americans about their life insurance needs, to make them understand the importance of including life insurance in their financial plan and if they already have insurance, to revisit their policy and make sure they have the best possible coverage.

However, there is little to celebrate this year as far as life insurance is concerned. According to the 2010 Life Insurance Ownership Study conducted by the Life Insurance and Market Research Association or LIMRA as it’s more popularly known:

As many as 30 percent (35 million) U.S. households have no life insurance protection at all.
Only 44 percent (58 million) U.S. households have individual life insurance policy, the lowest number in 50 years.
About 11 million households with children less than 18 years of age have no life insurance coverage.

The figures portray a grim picture of America’s life insurance status and that’s not going to change unless there is a concentrated effort through campaigns like LIAM to spread awareness about the necessity of having life insurance protection.

In its seventh year now, LIAM has taken up the challenge of educating the American public about their need for coverage. The initiative is sponsored by a non-profit organization called LIFE in association with over 100 top insurance companies and industry groups in the country.

However, this year marks a deviation from the previous ones as the challenges facing the life insurance industry are much greater. An uncertain job market, failing real estate sector, and an overall depressed economy have put a huge financial strain on an average American family. People already struggling to pay their daily bills have little left over resources to buy life insurance.

According to the LIMRA study, one in four U.S. households depend solely on group life insurance for coverage, which means they will have no coverage if they lose their jobs or quit.

While the reasons for not purchasing life insurance are legitimate, what people fail to see is not having coverage leaves their family just one accident or illness away from a financial catastrophe. If the primary breadwinner was to pass away at this stage, it’ll be nothing short of a financial disaster for his or her family.

Aside from the emotional trauma they will go through, the family will lose its only source of income, might have to suffer the ignominy of losing the family home, may not have sufficient funds for the kids to go to college, and could even struggle to pay for the funeral and other final expenses.

As morbid as that sounds, it’s not far removed from reality for many American families. The study conducted by LIMRA, in fact, reported that four out of 10 households with kids aged 18 years or less admit that they would immediately have trouble taking care of everyday living expenses if the primary breadwinner was to die unexpectedly.

However, there are many reasons other than a poor economy that keeps Americans from making this critical purchase and top amongst these are.

Procrastination: For so many people who can well afford and want life insurance, it’s nothing but inertia and procrastination that keeps them from buying a policy. Getting life insurance remains a �to-do� item in their list that keeps waiting to be ticked off. Weeks turn into months and months into years, but �tomorrow� never comes. What they forget is there is no guarantee there will be a �tomorrow� for them at all and the sooner they secure the financial wellbeing of their family, the more peaceful their �today� will be.

Low Priority: Many Americans prioritize paying off their debts and putting money aside for retirement over getting life insurance. Even though recession has changed the spending habits of Americans and people are saving more to safeguard their future, life insurance does not necessarily figure in their financial goals.

Lack of Awareness: Some people are just not aware of the impact life insurance coverage can have on their lives if the main wage earner of their family was to die prematurely. That’s where initiatives like LIAM are so important in educating people about what life insurance can do for them, how it can secure their financial stability by ensuring debts and mortgages are paid off, there is a regular stream of income coming into the household, and there are sufficient funds to support kids’ education.

Complexity of Products: There are so many life insurance products in the market and sometimes having too much choice can be counter-productive. Besides, life insurance is anything but an easy concept to grasp. More often than not, people need professional help to understand the different life insurance products and what they mean and can get easily overwhelmed by their complexity.

Procedural Hassles: Last but not the least is the fear of going through a long drawn procedure that can take anywhere between three to eight weeks or more. There are forms to fill, health exams to take, documents to furnish, etc. all of which make the process less than fun for consumers.

Protect Your Family With Life Insurance

To be very honest the term life insurance is not at all exciting, but it is extremely important for our lives. Actually, experts believe that life insurance is the foundation stone of perfect financial planning. You should understand the situation when you actually need life insurance. What type of policy would be best for you? How much you should invest in policy? These are few questions everyone should think deeply before purchasing any policy. There are numerous people who purchase policy because they want to ensure that their family members stay financially secure after them. In short, we can say that life insurance is the perfect income replacement.

Term life insurance offers coverage for a specific stage of time, like 10, 15 or 20 years. Premium increases with time unless you purchase a level term policy, and it makes sure the premiums remain the same. It is very much possible that you could outlast the period of your policy, in that case the policy expires and you’d have to purchase another one if you want to continue the policy coverage.

With permanent insurance, you need to worry about probably outlasting your policy period because in that case your policy offers you coverage for your whole life, as long as you continue to pay the premiums. Premiums are considerably higher for permanent insurance.

There are numerous kinds of life insurance policies available depending on your requirements and aims and there are big rate differences among different companies in Australia. Many financial experts suggest that every family income provider take no less than ten times their annual income in policies of life insurance.

Following is an arranged manner to go about purchasing for life insurance:

�Evaluate your required life insurance amount.
�Settle on the most suitable policy kind for your aims.
�Prefer potential companies by setting elevated standards for financial immovability ratings.
�Purchase until you get the great rates.
�Look at possible methods to find the great possible insurance rate.

Life insurance is long-standing scheme, so one should pay specific concentration while buying policy for all your life for the financial stability of your life. Evaluating life insurance requirements is the initial step in planning of life insurance. A best way to settle on your coverage requirements is to make use of an online calculator.

Think about financial conditions and the living standard you wish to maintain for your family members or survivors before buying a policy. For example, who will be liable for your funeral expenditure and medical bills? Would your survivors have to change their living standard or relocate once they lose your income? The idea of sudden death is important to make sure the present life insurance for an individual.

Because life insurance requirements vary with time, your policy amount should be reevaluated with the time. Financial planners recommend a close evaluation once in every five years or whenever you feel any huge event in life like, marriage, child birth, and major purchase of any kind of change in income.

Three Reasons For Buying Life Insurance

We live in economically uncertain times and finding financial security has become increasingly tough. Baby boomers have seen their life savings dwindle during the 2007 economic crash. Worldwide natural calamities and political upheavals have made life more fragile than ever. That’s why it is important now, more than ever, to consider buying a life insurance policy.

Life insurance is used to resolve the financial gap that would occur if an earning member of the family or a stay-at-home spouse were to die unexpectedly. The loss of income this would incur would have a severe impact on the family’s financial status. For instance, if you died with outstanding loans or mortgages, the burden of paying off those loans would fall on your family. Calculating just how big a financial impact your death would have on your family is the key to life insurance planning.

1. Purchase life insurance for its numerous benefits

The first obvious reason to buy a life insurance policy is to protect your loved ones from a financial catastrophe. But life insurance has many more benefits you should consider:

Your life insurance coverage can serve as a partial replacement of income to the surviving members of your family, whether it is a spouse, your children or elderly parents who depend on your income.
Life insurance can pay for your funeral expenses. Burial costs and funeral services can be very expensive; death benefits can help offset those costs.
Life insurance can be used to pay off estate taxes. If you have a large estate, your beneficiary could use the coverage to pay off estate taxes and avoid liquidation of assets.
You can use your life insurance as an inheritance to pass on to your children or grandchildren so that they have a good start in life.
You can use your life insurance policy to make a generous donation to your favorite charity. Many people designate proceeds to their church or a relief organization.
If you are an elderly couple, death benefits from your life insurance policy can offer greater financial security to a surviving spouse. It can compensate and prevent a surviving partner from eating into retirement funds to pay for unexpected medical costs.

2. Purchase life insurance because it is totally affordable

This is the best time to purchase term life insurance. According to the Insurance Information Institute, from 1994 term life insurance premiums have plummeted 50 percent for standard-risk term insurance. A term life insurance policy is the most affordable life insurance policy.

Term life insurance is the most basic insurance policy you can buy and the simplest to understand. You pay a premium based on your age, sex, health, lifestyle, occupation and other factors that may be incorporated into a life insurance company’s underwriting process. In return, your family will receive a predetermined death benefit after you die.

If you are young and in good health, there’s a good chance you’ll be applicable for the best life insurance rates. You’ll be able to lock in those rates for a long time if you take a level term life policy covering a 30-year term period.

3. Purchase life insurance because it is convenient.

Let’s face it. Convenience plays a huge factor! Most of us lead very busy schedules and are driven by convenience. We need a process that is convenient and quick. Online life insurance quote providers offer just what you need�”convenience. Such providers will take just a few moments of your time. You will be required to fill in an online questionnaire. Once this is submitted, you will instantly receive the best life insurance quotes from top-rated life insurance companies that suit your personal situation.

Most of us are tech-savvy these days and the introduction of an electronic life insurance application process is paperless and can be done in the convenience of your own home or office. With e-signature, the entire process can be done online without having to meet a life insurance agent.

Conclusion

Life insurance is a competitive business. The underwriting process differs from company to company. Some companies offer a more specialized look into unfavorable health conditions and therefore can offer you better premium rates than others. Since online life insurance quote providers have an expansive database that holds information from hundreds of life insurance companies, they can easily locate companies that �favor� your pre-existing health conditions or your smoker’s status.

Kitchen And Bathroom Renovation Services

Well-resourced with the advanced interior design and timeless dcor, a dream home is perfect in every sense. It is important for homeowners to maintain their houses by renovating them periodically. However, many people lack information on what to do and how to go about the whole procedure. With a team of experts and skilled general contractors perform kitchen and bathroom renovation in West Island and other parts of Canada with utmost precision. There are few factors which one needs to consider before hiring any services related to renovation work.

Selecting a Professional Kitchen and Bathroom Renovation Company is Essential

One needs to understand the entire procedure that is required to complete the work in an effective manner. For this, it becomes imperative to seek the help of professional renovation services. One must do a thorough research about the shortlisted company. Once a proper research is done, one can hire a reputed company that would provide quality results.

Experience and Expertise of the Service Provider Plays an Integral Role

With numerous companies providing the top-notch services related to kitchen and bathroom renovation in West Island, it is essential to select renowned providers. One must avoid hiring companies who have no authorization. Research is the key to choosing the best company for any renovation project.

The overall Expenses of Kitchen and Bathroom Remodeling Services

There are several options available in the market; it would be prudent to do the research on the overall expenses of the services. While comparing different services, one will be in a position to make a wise decision. Many times the most reasonably priced option is not the best one for the required task. Choosing the best Montreal Kitchen and Bathroom General Contractor for the job may allow substantial saving on the entire project.

The Efficiency and Productivity of Services

When looking at various services, it is integral to finalize the company that will provide premium-quality facilities at economical prices, ensuring that the remodeling work would enhance the overall looks of one’s house. In addition, it is crucial to read any reviews of their previous clients as it can help evaluate their productivity and effectiveness. One must have a set plan for all the renovation work.

Trends are shifting fast and people are ready to invest in their dreams. Gone are the days, when having a home used to be the only dream of people. Now, everyone wants to give every section of his or her home a new, redefined and timeless appearance. The Kitchen and bathroom general contractor in Montreal and Kitchen renovation in West Island are a big design of the fact that people are not limited to have classy and trendy living rooms. These companies are specialized in construction, designing and renovation in major segments of your home such as bedroom, dining room, living room, kitchen, bathroom etc