Turning 26? You could get help paying for health insurance.

Know your options. If you are turning 26 years old, you could get help paying for health insurance.


Is Life Insurance Possible For People With Diabetes?

Back in the day, it was much more difficult for people to get the life insurance coverage they needed when they had certain preexisting conditions. However, times have changed, and companies are working hard to provide solutions for people that wish to obtain a life insurance policy when they have been diagnosed with an illness.

When you are diagnosed with diabetes, you either have type 1 or type 2. No matter which type you have, there are now numerous companies who are willing to provide you with life insurance coverage to meet your needs. So if you’ve had the door closed in your face previously, understand that with just a little searching, you can find the right policy.

You might be thinking that life insurance for different types of diabetes is going to be exclusive to a certain type of policy, such as term life insurance. However, you can get term life, whole life, or universal life, whatever you need. And, you’re not going to be limited to certain amounts. With a preexisting condition, you might be paying a little more for the policy you want, but the great thing about that is that insurance providers always strive to keep the cost down for you. They want your business, and they realize that no matter who the person is or the condition that the person has, everyone needs to be insured!

There are in between situations regarding diabetes, such as gestational diabetes and metabolic syndrome. With metabolic syndrome, you’re at risk of developing diabetes because you have a few of the risk factors, but you do not have type 1 or type 2 diabetes. And, gestational diabetes is something that happens occasionally when a woman is pregnant. However, the symptoms usually subside and your health returns back to normal. Overall, what you want is a company that understands human conditions and can translate that into a seamless underwriting process for the life insurance policy that you desire.

Can I Qualify for Life Insurance As a Diabetic

If you have a serious health condition like diabetes, you may be wondering whether you can afford a quality life insurance policy. Fortunately, there are some options for life insurance that will allow you to get a policy that is beneficial for you and your family without having to spend a fortune. Here are a few tips that may help. 

Know Your Category

Before you search for life insurance policies that cover diabetics, you should know which category you fall into. The four main categories are: preferred plus, preferred, standard and substandard. Preferred plus insurance plans are for diabetics who are at their healthiest. This may include you if you don’t have to take high dosages of medication for your diabetes, or if the condition doesn’t often affect your ability to work or handle everyday tasks. If you have proven that you’re able to keep your blood sugar under control, you may also fall into the standard category.Preferred plus life insurance for diabetes usually refers to the fact that you received your diabetes diagnosis late in life. Actually, your late diagnosis could lower your health risks in some ways, which could increase that chances that you’ll be approved for the policy you want. Substandard insurance plans are typically reserved for diabetes sufferers who have endured serious health conditions as a result of the disease, such as vision problems or amputation.

Shop Around

You still have the option of shopping around when you’re looking for a diabetic life insurance policy. Even though you can’t change your diabetes diagnosis, you can do things to improve your health that will lower the insurance premium you’ll have to pay. Many companies allow you to start the signup process free of charge as well. Search for policies that offer the coverage that is best for you and your loved ones at a price that is realistically within your budget.

You can also look at life insurance without a health exam options.

It doesn’t hurt to ask your friends and family for recommendations when you’re looking for a life insurance policy that is especially for diabetics. Loved ones who also suffer from the condition can likely point you in the right direction when you need a policy that is affordable and will give you peace of mind.

Final Expense Insurance

When you pass away, you can incur unexpected expenses that you may not even realize exist. Many people choose to be buried. Burial usually requires purchase of a coffin, a burial plot and a carved headstone. All of these items can be surprisingly expensive. Fortunately, there is a way to help defray such expenses. Final expense insurance is a form of insurance that is intended to cover these costs. It can be a very useful addition to any life insurance you have already. It can also be a highly useful form of life insurance for certain people under certain circumstances. 

If you already have life insurance, it may not be large enough to cover your final expenses. A life insurance policy may have a meager payout. Or your survivors may have other expenses that were incurred if you were sick and unable to work for a period of time. Final expenses can eat into that existing nest egg and make it harder on your loved ones. A final expense insurance policy can help make sure your loved ones have enough money for your funeral and enough money to pay any other bills as well.

A final expense insurance policy can be ideal in certain other life circumstances. If you are young and have no dependents, this type of insurance policy can provide others with the means to make sure they have enough money to cover your funeral. Your parents can get the money from the policy and not face additional burial costs. Likewise, if you are older and have grown children who are well off financially, a final expenses insurance policy can provide money to make sure your wishes with regards to burial are funded adequately.

Final expense insurance policies are easy to buy. Many companies offer them as a part of a life insurance policy. Many companies also offer an additional rider that you can buy when you are buying standard life insurance. Look for policies that cover all your expenses including a tombstone and a coffin. A policy may also provide a small sum to help maintain your grave.

Proper planning is an essential part of any effective fiscal life plan. Final life insurance can fit in well as part of any well thought out plan. Use it wisely and you will make life easier for those you care about after you die.

Life Insurance – An Introduction

A life insurance policy is a commodity that you can invest in on a monthly basis, which will pay out a lump sum in the event of your death, to a person or persons whom you have nominated as beneficiaries.  A beneficiary is someone who will benefit financially form the payout of the insurance policy.  Investing in an insurance policy is one of the most important things you can do for your partner or your family, as it insures that your loved ones will be financially secure in the event of your untimely death.

There are two main types of insurance policies:


Term Life Insurance is put in place to protect the financial interests of family members after the death of the main breadwinner in the family.  The sooner you take out a term life insurance policy, the less you will be paying in monthly installments, as these payments are determined by the amount of coverage you choose, the term you decide on, as well as your age and your health.  The older you are when you start a term life insurance policy, the more you will pay per month.

This type of insurance policy is therefore ideal for younger families and can also cover additional expenses such as funeral costs.  A term life insurance policy will have a set period of time of either ten or twenty years, and sometimes even 30 years and do not retain a cash value at the end of the term.


This type of insurance policy is similar to a term life insurance policy with a maturity date, but offer a cash value at the end of the term.  Monthly payments are higher and coverage is generally lower than on term life insurance policies.

A qualified insurance agent will be able to explain the terms and conditions of life insurance and assist you in choosing the best policy for your particular situation.

Is Getting Supplemental Medicare Insurance A Good Idea?

Medicare Parts A and B pay for many healthcare services for individuals over the age of 65, but they do not cover everything. For this reason, it might be a good idea to purchase a supplemental insurance policy.  Before you decide to get a Medigap or supplemental insurance policy, you want to get informed about how these plans can help you.

Medigap policies are sold to individuals by private insurance companies. These policies are designed to work with Medicare Parts A and B. Some of the expenses these plans cover are co-insurance payments and deductibles. Medigap policies vary, so it is important to find which ones work for your specific needs.

Medigap policies work with Medicare Parts A and B by supplementing the existing benefits. Medicare takes care of all payments first, and whatever is left over is either taken care of by your Medigap policy or you need to pay it out of your own pocket. Consider the costs of additional medical services needed as you grow older, and it makes sense to buy a Medigap policy.

Most Medigap supplemental policies do not cover dental care or vision care. However, there are some innovative insurance packages available. Ask your private insurer if they can suggest plans that do provide coverage in these areas.   If you are not currently working with an agent then you can get a set of online medicare supplement quotes from many top companies.

How do you get a Medigap policy? First, you must have Medicare Parts A and B. Your supplemental policy needs to be identified as a Medicare supplemental insurance policy. Only one individual is covered under a policy, so a married couple needs to obtain coverage for each person by getting two supplemental policies.

Compare policies carefully before making a final purchase on any Medigap supplemental insurance policy. You want to be sure it covers everything you are going to need from a supplemental plan. Go over all the details with your insurance professional before making a purchase.

3 Things Seniors Should be Aware of About Medicare Supplements

Medicare supplement plans are a thorny topic for most people getting ready to retire, as well as those already on the program. There are many different options available, and pricing varies widely between providers. Ass in the fact that many providers will bundle coverage with additional incentives, and you find you have a very difficult decision to make indeed.

1. The best plan for you is not necessarily the one with the most coverage. While the simplest choice is to go with a plan that covers everything 100 percent, there are other options for a reason. Depending on the plan offered and your current health, it may be better to go with a plan that does not cover all your out of pocket expenses in return for a higher deductible. This is a difficult decision, so you may want to seek some help looking over your options. Consider carefully if the higher premiums are worth not having major expenses if you ever fall ill or have an accident.

2. Medicare Plan F, which is the most common plan, is identical regardless of which company your work with. That doesn’t meant that it is the same price everywhere, however. Since it covers all your expenses by definition, there cannot be any variation in coverage. The only exception is high-deductible Plan F plans that require a $2000+ deductible and pays everything after that. The advantage of this plan is that your payments will stay stable. All you need to do is provide your insurance information and you can walk out of the office with a zero balance every time.

3. Even Medicare Plan F does not cover everything. Unless your purchase a supplemental policy, you are still going to need to cover some things yourself. This includes more basic items such as dental, vision, and hearing aids, but is also some of your major expenses such as private nurses and nursing home care. Keeping this in mind could make a big difference when it comes to long term care. Since most people will need this service at some point, you must take it into account in your retirement planning.

The most important thing to do is to take the time to make the right decision early on. If you need more coverage because your health is failing later in life, it will be much more difficult to obtain. Layout your different options, as well as what you can afford to pay for you own care and pick the plan that will work best for you in the long term.

Life Insurance Is For Your Family, Not You

Life insurance is one of the only financial products that you can buy that does not directly benefit you, unless you use whole life insurance to save for your retirement. Life insurance does offer you a priceless benefit; peace of mind that in the event you die unexpectedly, your family will not suffer financially. They will still grieve but at least they will not have to worry about keeping a roof over their heads while they are grieving.

If you have anyone who would suffer financially without your income, you owe it to him or her to protect him or her from the hardship your premature death would bring. If you are the family breadwinner, life insurance will replace your income, allowing your family to maintain their lifestyle. Not only will life insurance replace your salary, it will give your family the cash they need to replace the benefits received from your employer, such as health insurance and retirement savings plans.

Even if you are a stay at home parent, your family will still need proceeds from your life insurance to hire someone to take care of the housekeeping and childcare duties you performed. Depending on the amount of life insurance you can afford, the proceeds may allow your spouse to stay at home and be a full-time parent while your children are young. No one likes to think about their own early death but it is even harder to think about your spouse working 12 hours a day to pay the mortgage, the bills, and pay off your funeral expenses.

These days it is so easy to find cheap term life insurance that there really is no excuse for anyone with a family not to have it.

Single people need life insurance too, although they can generally get by with a smaller term life policy. Term life insurance is very affordable for young, healthy individuals. If you are single and you have decided you do not need life insurance, imagine who would have to pay for your funeral and burial expenses and pay off your student loans. You need to have life insurance if you do not want your parents to have to pay these bills.

If you have a child, regardless of your marital status, you should have life insurance. If you are a single parent, the person you designate to raise your child should be the beneficiary of your life insurance so they will have the money to raise your child without financial hardship.

An insurance agent will help you determine the amount of life insurance you will need to buy to meet your family’s needs after you are gone. You should periodically review your policy with your agent after you have a child, buy a house or pay off your mortgage so you are not over-insured or under-insured.

Does My Income Impact My Credit Score

Anne C. writes:


I was told by someone that a significant increase in income would improve my credit score. I always thought credit scores were based more on payment history and outstanding monies owed. Is a person’s income figured into their credit score?

Michele: Anne, thanks for the question. Your instinct was correct. Income plays no role whatsoever in calculating someone’s credit score. This is a pretty common misconception. I have encountered many individuals making well over 6 figures annually, who believe that their income will overshadow any tardiness they have in paying their bills on time. It is just not the case.

If you obtain a free copy of your credit report from one of the major credit reporting agencies, you will see that nowhere on the report does your income appear.

Now, lenders do factor in your income when determining your ability to pay back a loan they may extend you. They will usually use a debt-to-income ratio. They take your monthly income and compare it to your monthly debt payments that appear on your credit report as well as a few that do not appear on a credit report like annual property and school taxes. They also add in the potential new payment from their loan to determine whether or not you will have the financial means to pay back the loan. This debt-to-income ratio may be where the misconception has originated from.


Hello and thank you for visiting my new site. I appreciate it, and I sincerely hope that you find it useful. Over the coming months I will be posting articles I find around the internet that I believe contain useful advice about personal and business finance. I will also be writing a lot of my own articles on topics ranging from life insurance, to estate planning, to creating and sticking to a simple budget.

Again thank you for visiting, and if you have a specific question you would like answered, you may contact me.