6 tips for seniors to choose the best life insurance policy

6 tips for seniors to choose the best life insurance policy

Financial aid during challenging times can provide relief to those affected by such circumstances. A life insurance policy guarantees financial compensation to the policyholder’s beneficiaries in the event of their demise or, in some cases, if they develop a terminal illness. In the case of seniors, this guarantee can reassure them and their family, helping provide financial security and meet unexpected costs. Here are some tips for choosing the best life insurance policies for seniors:

Consider the number of dependents
Each person has different responsibilities in life, so one should begin by considering the number of dependents in one’s family. For example, a bachelor living alone may typically not have many dependents, but someone who is the only earning member in a large family may be financially responsible for many. Accordingly, one can choose an appropriate term insurance plan based on the number of dependents.

Check the income level
It is important to evaluate one’s income level before committing to an insurance policy to ensure that one can pay the premium amount. So, the best bet is to consider one’s aggregate income, based on monthly salary or pension and other income sources, and shortlist insurance plans whose premiums one can afford to pay. Later, one can zero in on a policy among these by comparing their features and benefits.

Opt for riders
Riders are essentially additional coverage benefits over and above what’s covered by the insurance policy. For example, some life insurance policies may have terminal illness riders, which financially compensate beneficiaries even if the insured senior is diagnosed with a terminal illness. Similarly, accidental death riders provide an additional lump-sum to the beneficiaries if the policyholder dies in an accident. So, opting for policies with riders gives additional advantages to beneficiaries.

Verify the insurer’s claim-settlement ratio
The claim-settlement ratio basically specifies how many claims the insurer has successfully paid out of the total number of claims received. This ratio is important because it tells one whether the insurance company is capable of fulfilling its commitments to its clients. One should ask the insurance company for its claim-settlement ratio during the finalization process.

Consider the family’s overall standard of life
A family’s financial requirements may be higher if they have a high standard of living, but those with fewer requirements may need to be compensated only for their basic expenses. So, the family’s lifestyle is an important factor one needs to consider while going for life insurance. The more the lifestyle requirements are, the higher the coverage required would be.

Go through customer reviews and complaints
Reviews can help a lot with understanding the insurance company’s reliability and transparency, so one should make sure to check customer reviews and complaints thoroughly. If there are any complaints, one should find out if these issues persist and what steps the company is taking to overcome them. An analysis of these factors can help shortlist a company that is trustworthy and true to its word.

Recommended

6 common cycling mistakes to avoid

6 common cycling mistakes to avoid

Starting a new hobby is quite exciting, especially one as fun as cycling. But we may forget important details in the rush with equipment to purchase, routes to map out, and rules to follow. These may be due to a lack of knowledge or experience or overconfidence. However, just like other hobbies, there is a learning curve to the world of cycling. Here are six common cycling mistakes beginners make and how to avoid them: Looking for extremely specific equipment It is great to have stylish equipment, but the lack of ideal clothes or accessories shouldn’t stop you from exploring cycling as a hobby. While high-waisted padded cargo bike shorts and padded bike liner shorts guarantee comfort during cycling, options like Spanx® shorts, spandex shorts, or baggy shorts also offer comfort and support. The most important things are a sturdy bike and a sturdier helmet. Cycling without a helmet Bike helmets are crucial at all times. They can be found at most local stores, with advice on how to choose the right one. Ensure that you wear it correctly and put all the buckles in the rear. Not knowing your limits As with any new hobby, it is important to test the waters.
7 simple daily exercises for first-timers

7 simple daily exercises for first-timers

Research shows that besides enhancing one’s physical health, exercise improves mood, sleep pattern, and self-image and reduces the risk of developing mental illnesses. However, starting and sticking to a fitness journey can be pretty overwhelming. Simple exercises are ideal for beginners as they do not require equipment and can be seamlessly incorporated into everyday life. These seven simple activities will help those unsure of committing to a long-term fitness regimen. Stretching Stretching is the best place to start. Even if one doesn’t follow it with other exercises, stretching for 10 minutes in the morning can help improve one’s blood flow and balance and eliminate body stiffness. Some simple stretching exercises include neck tilts, neck, ankle, arms, waist, and shoulders rotations, spot jogging, and side bends. Walking This underrated exercise is strongly backed by science. It provides long-term health benefits and is suitable for all, from kids and seniors to those suffering from heart disease, high blood pressure, and type 2 diabetes. Walking daily for 40 minutes can help strengthen one’s bones and muscles, improve cardiovascular fitness, and boost energy levels. Sun salutations From forward folds to upward and downward dog, the classic sun salutation involves a series of easy full-body stretches that leave one feeling balanced.
6 mistakes to avoid when installing security cameras

6 mistakes to avoid when installing security cameras

Protecting a home from theft involves measures like putting up fences, using secure locks, and a neighborhood watch system. However, more than 1 million burglaries are reported in the country each year. This is where installing a security camera can come in handy. A good surveillance system can assist the police in investigating all kinds of theft and robbery. However, people can miss crucial steps or make mistakes while installing security cameras.  Picking the wrong spot People may place cameras in hidden spaces to prevent others from noticing them. However, this affects the camera’s line of sight. Ensure the camera is mounted strategically for the best results when capturing events. Outdated software If you buy a good home security camera with poor or outdated software, the system may not be able to record or capture anybody when required. So, you should ensure that hardware and software are reliable while buying the product. Incorrect placement You may mount the security cameras too low, which allows burglars to spray paint or damage the camera. Ensure you place the camera at an appropriate height to prevent such complications. Not testing the camera If you start using a security camera without testing it first and the device turns out to be defective or damaged, it may not provide adequate surveillance.
4 travel mistakes to take a break from

4 travel mistakes to take a break from

Whether you are a novice wanderlust or have been to hundreds of places, mistakes are a part of the process. But, it is important to learn and avoid the mistakes that might ruin your journey. One of the common traveling mistakes to avoid is taking connecting flights as you might have to cancel or modify back-to-back bookings in case your first flight is delayed. Read on to know some other travel mistakes to avoid.  Overpacking Choosing what to pack is a hard job. But being weighed down by your bulky suitcase is a lot more difficult. Start off with choosing the bag that is right for the duration of your trip. Don’t go for a big bag. The bigger the bag, the more will you be packing. With a smaller bag, you’ll only carry things necessary for the trip and there are no extra options. Moreover, with limited belongings, you can easily keep your hotel room clean. Visiting several destinations Taking time off from your routine does not mean you spend every minute of the couple of days you have off in traveling. It is a common mistake most travelers make and one that you need to avoided on your next trip.
4 clever tech gifts to buy for loved ones

4 clever tech gifts to buy for loved ones

The festive season is right around the corner, and it is the perfect time to shop for all your family and friends. So, while you would want all the gifts to be special and perfect for your loved ones, choosing the best gift can require a lot of planning. A great way to make your festive shopping easier is to choose useful gadgets that everyone can use. So, here are some unique gift ideas: Smart mug This is the perfect option if you want to get a handy gadget for a loved one. Smart mugs ensure you get to have your drink at the exact temperature, even if you prepared it a while ago. Most smart mugs can maintain the temperature for up to 90 minutes on a single charge. So, you don’t have to worry about your tea or coffee getting cold if you haven’t had the chance to pick it up as soon as you made it. Smart mugs can also be connected to your smartphone via an application, and you can set the temperature of your choice here. Smart writing set A smart writing set comes with a pen and a book where you can jot down your thoughts and ideas.
Get the best Christmas gift cards from these retailers

Get the best Christmas gift cards from these retailers

Do you hear the bells jingling and smell the pie baking? Christmas is approaching, and the offline and online worlds are abuzz with activity. The festive season is an exciting time to redeem gift cards and coupons, check every item on your shopping bucket list and surprise your loved ones with presents. We are here to help you with some hacks that can earn you gift cards and vouchers this Christmas: Groupon® Groupon’s app and website provide various coupons, cashback offers, and gift cards for customer purchases. In addition, it hosts several entrepreneurs, including restaurateurs, manufacturers, and retailers, and lists its products, serving as a credible avenue for such groups to attract their target customers. Simultaneously, it is a lucrative platform for buyers, offering several benefits and gift coupons. You can avail of several offers and deals on Groupon® this Christmas! Rakuten Rakuten lists several of your favorite stores, offering rebates and discounts on purchases. It also provides a comprehensive list of coupon codes, saving time and effort. Essentially, when Rakuten receives a commission from stores for providing them with customers, it presents this amount to customers as cashback, ensuring a win-win situation for all the parties involved. Currently, you can use the coupon code CYBER25 to avail of 25% off and 12% cashback on Boll & Branch products.