Majority of Single Mothers have no Life Insurance

Having sole responsibility for the children means single mothers must consider the welfare of the kids in the event of their death – a necessary (albeit unpleasant) task you might think, but worryingly estimates show that almost four in ten single parents do not have any life insurance cover – and those who do have often not arranged enough.

Single moms must make life insurance a priority so that their children do not suffer financially as well as emotionally should the unthinkable happen– their Life Cover must ensure sufficient resources for children to live on as well as perhaps the opportunity to go to college later on. Life insurance which would pay out on the death of the policy holder (term insurance) might be a good option to consider, however it’s worth discussing possibilities with a good insurance agent who will be able to give an expert opinion on the best low-cost life insurance policies for those on a low income.

Obama aims to get Single Moms back to school

In an attempt to lift single mothers out of poverty Barack Obama is attempting to make prospects better for single moms who want to return to study but are hampered by lack of finances. Grants are available to enable single mothers to get a second chance at education – education which can only benefit both their families and their future employers.

The Scholarships for Moms program has increased funding via Pell Grants ,which have been around for some time – the maximum amount of aid has been increased to over $5000 –$1000 more than previously. Also importantly the range of study options for which funding is available has increased to cover part-time and distance study, thereby making it far easier for a single mother to access learning whilst working or caring for children. A further $10,000 worth of financial aid via a Scholarship is available for some single mothers – in order to qualify you must be female and have a child.

The Obama Scholarships give single moms a real chance at improving prospects both for themselves and their children – but they must also consider how important life insurance is to their offspring’s potential happiness and security.

photo credit: meemal

Euthanasia’s Implications for Life Insurance

During all his years as a doctor Howard Martin made no secret of his belief in euthanasia – a belief which was tested to the utmost in 1988, when he helped his son Paul , who was terminally ill with cancer, die. Euthanasia, however, is illegal in the UK and Dr Martin, who is now 75 years old, said that in making his recent confession he was doing so with the full knowledge that he may have to spend the rest of his life in prison.

Life insurance companies will not pay out if suicide is found to be the cause of death, even if the person is terminally ill. Assisted suicide in these types of cases can be difficult to prove however if the person’s life was hanging in the balance anyway due to their illness. If suicide is suspected, then life insurers will insist on an autopsy to determine the cause of death.

Dr Martin Acted Autonomously in Administering Fatal Drugs

The police believe that Dr Martin may have been involved in the deaths of up to 30 patients, and he has stated that he acted in accordance with their wishes, in terms of carrying out assisted suicides. However there were apparently two exceptions to this where the drugs administered by Dr Martin – those which killed the patients -were administered without their having given their consent, effectively making Dr Martin’s involvement in their deaths murder.

Many people back the right of the terminally ill to choose when to die, including some of the relatives of those assisted by Dr Martin, who called him an ‘angel of mercy.’ Other relatives, however, said they felt betrayed by him.

This recent case illustrates how the debate over assisted suicide continues with opinions divided on the issue. The government in the UK has tried to bring in a bill to legalize euthanasia three times and three times it has been defeated. Very few places in the world have a form of legal euthanasia, and they include: The Netherlands, Belgium and the American states of Oregon, Washington, Montana, and Texas. Life Insurers will have policies which reflect the legality of these practices in these areas.

photo credit: Sarah G…

Larry Rudd, a soldier from Brantford, was killed by a roadside bomb in Afghanistan last year and his funeral service was streamed live from Brantford to his colleagues in Afghanistan and to relatives in British Columbia and Holland who watched the service on their computers at home.

Facebook for Funerals

The new technology has been touted as ‘Facebook for funerals,’ meaning that footage from the webcam can also be watched the next day, which was a help to Larry Rudd’s relatives in B.C since some of them lost visuals of the funeral during the service.

Life Insurance is an Option worth considering when it comes to funeral costs

For those left behind, having to arrange a funeral service for a loved one, online service or not, is one of life’s less pleasant tasks. Having the additional burden of wondering how to cover the expenses of funerals is even worse; which is why many people choose to take out life insurance which has the option to pay cash to the bereaved to cover funeral costs (sometimes cash can be paid directly to the funeral directors).

Parents of Baby Boomers would “Turn in their Graves”

The idea of online funerals doesn’t appeal to everyone, admits Glaves – “The big fear is those crazies on the internet – that mom or dad will end up in their casket on You Tube.” There is also the fact that some funeral homes are attempting to make profits by charging as much as $500 for the extra service (the Beckett Glaves Funeral Center provides the webcam for free).

When you consider that the average cost of a funeral in the US is $6500, according to the National Funeral Directors Association, it becomes apparent that dying is expensive for those left behind; this is worth remembering when taking out Life Insurance and planning ahead is the key.

Take up of Online Funerals is Rising

Around 80% of people are apparently signing up for the ‘sympathy cast’ according to Glaves, and those that decide against the service are usually baby boomers arranging funerals for parents. “They’re saying I would like to do this for me but mom would hate it.” Glaves admitted that his father, who was funeral director before him, ‘would have been horrified.’”

But, according to Paul Generowicz, owner of Sympathynet.com, the technology has been a ‘godsend’ for friends and relatives who cannot physically attend funerals – for instance because they live too far away or are confined to bed (or even prison). This is something Larry Rudd’s mother, reiterated: Zuidema Rudd said that broadcasting her son’s funeral was a comfort and that “it brought our family together without them having to come here.”

Source

Susan Pigg, The Star.com August 2010

photo credit: The National Guard

Life insurance for older people is getting more affordable

Sakhan Dosova has never thought about life insurance, but for many seniors in the West life insurance is becoming more affordable – living to the age of 130 is obviously far from the norm but many more of us are living into our 80s due to better health care and diet.

For people buying a senior-oriented life insurance there are various ways to help get a better deal: Firstly, get a medical check-up – if you can prove you are still fit and healthy you are likely to get a better deal on life insurance. And if, like Sakhan Dosova’s descendants, you can prove that your predecessors were particularly long-lived this could also help lower your premiums.

Seniors have different life insurance needs than younger people

Many Life insurance companies specialize in providing life insurance for retirement. Insurance needs for this age group differ from those of younger people – the mortgage may well be paid off, and the car. Plus, seniors generally have a steady income available upon which to live; in this situation there may be no need to take out insurance for investment purposes. However, taking out a life insurance policy can still be a good tax-free option to help pay for funeral expenses or medical care for a surviving spouse, especially ‘term’ insurance, whereby the policy has no cash value but simply pays out upon death.

In regards to Sakhan Dosova, the government of Kazakhstan wants more checks to be made before officially declaring her the oldest woman in the world:  If the claims are true, and Sakhan Dosova was born in 1879 as she states, she would share the same birth year as Einstein and Stalin.  She is no doubt very old, but as officials point out, birth records in Kazakhstan are notoriously unreliable.

The Kazakhstani government is still recovering from the ridicule poured on it in the aftermath of Sacha Baron Cohen’s film ‘Borat’ and have stated “for the sake of our country we want to make sure her claim is correct.”

photo credit: Ernst Vikne

A recent study suggests that poverty contributes to decreased life expectancy. This makes a life insurance policy all the more vital to families with limited incomes.

It may not come as a complete surprise to be told that well-off people tend to live longer than poor; unemployment, poor diet, and lack of leisure time play a part in increasing stress and decreasing quality of life for low earners. What is startling however is just how big a life expectancy gap there may be between the two groups.

Income Inequality Results in a Life Expectancy Differences

Researchers at Statistics Canada recently attempted to analyze the effect  poverty vs. affluence or ‘income disparity’ has on life expectancy. The findings, based on data gathered in Canada, were published recently in the journal Health Reports and make for disquieting reading: Figures show that on average only 54% of men from the lowest income group (bottom 10%) have a life expectancy of 75 years of age, compared with 74% of top earners. For women, 69.4.% of the least well-off can be expected to reach the age of 75, as opposed to 84.4% of the wealthiest women.

Life Insurance often not a Priority for those on a Low Income

Falling into the poverty trap also brings other complications – due to a lack of funds less affluent people often fail to take out adequate life insurance – insurance which would help family enormously in the event of their death. However there are lots of cheap life insurance deals on the market (most are available through low-cost, term life insurance) which low earners can take advantage of to help safeguard their future.

Life Insurance is a good Option for those on a Limited Income

While the super wealthy usually have numerous investments and portfolios to protect their futures people in low income brackets still need to plan ahead – and taking out a life insurance policy is a good tax efficient option. The sooner life insurance is set up, the better the rates on the premiums – since the older a person is the higher risk they will be to an insurer.

It’s also important to remember that no matter how much a person earns, lifestyle choices also play a big part in determining how healthy they stay and how long they will live – making the decision to give up smoking for instance will not only put more money in the pocket but significantly reduce the cost of life insurance.

Source

Andre Picard in ‘Globe and Mail’ Nov 2009

photo credit: woodleywonderworks

Opinions differ about what happens to people when hovering between life and death, and many believe these types of experiences may be the only real knowledge we have about life on the ‘other side’. Surely people who have ‘seen the light’ cannot be held accountable to science?

Scientific Explanations for Near-death Experiences

A team of scientists led by Dr Lakhmir Chawla, working at the George Washington Medical Centre in Washington DC, believe that near death experiences could simply be a result of a surge in electrical activity in the brain prior to death. Dr Chawla feels that this sudden spurt of energy in the brain, after activity has gradually fallen off, could cause people to have vivid feelings or hallucinations.

Dr Chawla and his team based their report on a study of seven terminally ill patients, and did not set out to prove or disprove theories about near-death experiences. They were simply monitoring brain activity in order to ensure their medications were making patients as comfortable as possible at the end of their lives. They noticed there was a ‘last gasp’ of energy in the hour before the patients died.

Skeptics Still Unconvinced Near-death Experiences are Real

This does provide us with food for thought, but unfortunately we will never know for sure since all the patients in this study died without being able to tell us about any near death experiences they might have had.

Whether you have lived through a near-death experience or not, life is short and requires that you provide financial protection for your family. You can take a look at the types of life insurance here to choose the best policy for you.

photo credit: FantasyClay

photo credit: John Griffiths

Heath Ledger, who tragically died of acute prescription drug intoxication in January of 2008, may have his life insurance policy revoked.  Ledger’s policy was carried by ReliaStar (a subsidiary of ING Americas), and its benefit was a reported $10 million. But lawyers for the life insurance company say they intend to investigate the matter, and “take the depositions of Mary-Kate Olsen, as well as the masseuse who was at Ledger’s home when he died.”

Though Ledger had not been taking any illegal substances at the time of his death according to the New York coroner, the insurance company is reportedly looking into the possibility that he had lied on his insurance application. If Ledger had lied, whether it was about any potential past illegal drug use, or the prescription drugs that he was taking, it’s possible that the $10 million policy will be revoked and his two-year-old daughter will not receive the benefits under her trust.

Your Chances of Dying in a Lightning Strike Are Greater Than…

Some people love the sound of thunder and of rain pattering against the windows, but others worry about being killed by lightning during a thunderstorm. Just how likely is it really that you’ll die this way? Well, each year about 1 in 3 million people are killed by lightning. Your lifetime risk of dying from a lightning strike is about 1 in 80,000. To put it in perspective, here are five even less likely ways to die.

Terrorist Attack
The events of 9/11 brought home the stark realities of terrorism and its toll. For the first time since the Civil War, a war was brought to our home soil, and naturally, we hated it. We feared it as well. Dying in a terrorist attack suddenly seemed a very real possibility. But what do the numbers say? Well, according to the U.S. Centers for Disease Control, 1 person out of 88,000 will lose his or her life as a result of terrorism. You’re more likely to be struck by lightning.

Shark Attack
Ever since the book and the movie Jaws , the American public has “known” that sharks are dangerous. And in a way, they are. They’re small-brained carnivores and we’re a food source. But only about 1 in 8 million people in the United States will die at the hands…er…teeth of a shark. So get that horrible theme song out of your head!

Venomous Bite
Like sharks, venomous snakes and spiders were never intended by nature to be cute and cuddly, but in the final analysis, they’re less lethal than lightning, killing just 1 in 100,000 Americans.

Autoerotic Asphyxiation
Autoerotic asphyxiation refers to cutting off one’s own airway during masturbation to enhance sexual pleasure. Sometimes oxygen is withheld from the brain for too long, and death occurs. According to Dr. Stephen Hucker, forensic psychiatrist, about 1 in 1 million people will die from autoerotic asphyxiation. The actual number may be higher, however, because death certificates do not always accurately reflect self-inflicted causes of death. In any event, this cause of death is 100% avoidable. Never do anything to choke yourself.

Asteroid Impact
A great many television programs have solemnly informed us that the Earth is in a shooting gallery of asteroids and that “some day” the big one will hit and destroy a good part of humanity. So should you start planning for extinction? Not yet. Your odds of being killed by an asteroid strike are 1 in 200,000. You’re far more at risk from the lightning.