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

A diagram showing the inner workings of an artery

The rising epidemic in obesity and diabetes in the U.S. is frustrating heart experts in their attempts to reduce heart disease. The message about living a healthy lifestyle and keeping weight down just doesn’t seem to be getting through. It is hoped, however, that looking at our health from a different perspective – in terms of our ‘vascular age’ we might be motivated to make the necessary lifestyle changes to cut our future risk of heart problems.

“There’s a saying that ‘you’re as old as your arteries,’ meaning that the state of your arteries is more important than your actual age in the evolution of heart disease and stroke,” Says Geetha Raghuveer, associate professor of pediatrics at the University of Missouri Kansas City School of Medicine. “We found that the state of the arteries in [some] children is more typical of a 45-year-old than of someone their own age.”

How is vascular age calculated?

By taking into account such things as age, sex, cholesterol, blood pressure, whether or not you smoke, as well as any instances of stroke, heart failure or arterial disease, a health professional can tell us the ‘real’ age of our arteries. A 35-year-old might turn out to have the blood vessels of an average 80-year-old — a real shock to the system.

A look at the risk of heart disease based on vascular age

Could my vascular age affect my life insurance?

Your ‘vascular age,’ along with other indicators could well have a bearing on the cost of life insurance you can get.  The estimated age of your blood vessels, if significantly higher than your real age will indicate to a life insurer that you are more likely to die younger, from heart complications. Life insurance companies cannot ignore this kind of information when assessing your premiums.

Make lifestyle changes to lower your vascular age

By changing your habits and lifestyle you can rapidly improve the health of your arteries. By adopting a healthy lifestyle not only will your life expectancy increase, but your risk to a life insurance company will decrease. You may even end up having a vascular age which is significantly lower than your real age, which will make you an even better bet when it comes to taking our life assurance.

photo credit: perpetualplum

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.