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Benefits of Life Insurance for People Over 80

Benefits of Life Insurance for People Over 80

Almost every person needs a sound financial plan to meet their life goals. The life goals include growing older, starting business ventures, or maybe getting some employment opportunities, getting married, having extended families and then giving a sound and safe future, not only to their extended family but also to themselves.

It is difficult to reach life goals without having financial backup. At a young age, people try to grab every possible opportunity to increase their earning potential. But, at retirement age, how much we are earning and how much we can spend matters a lot. Here, the concept of life insurance plays an important role. A little investment in a life insurance policy can be beneficial for the people of old age.

You’ll be motivated to be healthier since a healthy lifestyle yields lower interest rates.

Generally, with an increase in age, the rates of life insurance become more expensive. But it is important to remember that age is not the only factor that is considered by the insurance companies as they determine the insurance rate. There are several other factors  that come into play, such as the current state of health, hobbies, lifestyle, profession, family history, and some other traits of the applicant.

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It is possible to get a better rating and lower premium by changing an unhealthy lifestyle and making it better. Taking good care of your health and being in good shape also helps.

You can use it as replacement income.

Life insurance equals income replacement.

Getting a life insurance at that age has several benefits. One of the advantages is that it can be an income replacement vehicle for senior citizens. There are so many senior citizens who are dependent on income that comes from pensions. When one spouse dies, it is possible that the pension income will also stop.

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This will create a lot of financial problems for the living spouse. They may be left with no income to pay for their living expenses. Having life insurance will allow the living spouse to replace that lost pension income. This way, senior citizens will be able to live comfortably without having to worry about their daily expenses.

It will relieve the financial burden of your death for your family members.

Life insurance is a very good way for people over 80 to save their families from any financial burden. Life insurance will save the family from expenses such as the funeral, death expenses, and medical bills. It is also good to plan for mortgage payments, personal loans, business loans, and credit card bills.

It will help cover estate taxes.

On many occasions, there can be an issue when it comes to estate taxes. It is possible that people who owe estate taxes at death are liable for paying more than half of their estate’s value. In such situations, very little is left for the loved ones. A life insurance policy is useful in such circumstances because it can help in paying these taxes. The family assets will be left completely for the family.

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You can get bonus amounts from it.

Besides this, some of the life insurance policies also offer extra bonus amounts in the form of annual dividends for the policyholders. These annual dividends are a source of extra income rather than an investment for the policyholders. Another benefit is that these policies can be converted into cash when needed.

You may not have to get a medical exam if your health is bad.

For people who are over 80 and not in good health, there is a no-medical exam life insurance policy. This policy can be very helpful in providing the god alternative for getting the coverage that is required. This coverage is guaranteed as soon as the premium is paid by the applicant. This is very beneficial as its coverage is guaranteed without any regard to the person’s present health or the health history.

It can be a challenge to look for a life insurance policy for seniors over 80 because the types of policies available are limited. But if you know where to look, the process can be very easy. A life insurance policy is important and profitable for senior citizens, since it helps in creating a financial cushion.

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Featured photo credit: Grandma by Shawn Allen via flickr.com

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Last Updated on November 11, 2019

How to Improve Memory and Boost Your Brainpower

How to Improve Memory and Boost Your Brainpower

Have you ever noticed that some people are able to effortlessly remember even the most mundane details and quickly comprehend new things? Well, you can too!

To unlock the full potential of your brain, you need to keep it active and acute. Wasting time on your couch watching mindless television shows or scrolling through facebook is not going to help.

Besides getting out flashcards, what can you do to help remember things better and learn new things more quickly? Check out these 10 effective ways on how to improve memory:

1. Exercise and Get Your Body Moving

Exercising doesn’t just exercise the body, it also helps to exercise your brain. Obesity and the myriad of diseases that eventually set in as a result of being overweight can cause serious harm to the brain.

Furthermore, without regular exercise, plaque starts to build up in your arteries, and your blood vessels begin to lose the ability to effectively pump blood. Plaque buildup leads to heart attacks and it also reduces the amount of oxygen and nutrients that your blood carries to your brain. When the nutrients don’t make it there, the brain’s ability to function is compromised.

To prevent this from happening, make sure you get moving every day. Even if it’s just a brisk walk, it’ll help you maintain and increase your mental acuity. Brisk walking, swimming and dancing are all excellent activities. Take a look at these 5 Ways to Find Time for Exercise.

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2. Eliminate Stressors and Seek Help If You’re Depressed

Anything that causes you major stress, like anger or anxiety, will in time begin to eat away the parts of your brain that are responsible for memory. Amongst the most brain-damaging stressors is depression, which is actually often misdiagnosed a a memory problem since one of its primary symptoms is the inability to concentrate.

If you can’t concentrate, then you might feel like you are constantly forgetting things. Depression increases the levels of cortisol in your bloodstream which elevates the cortisol levels in the brain. Doctors have found that increased cortisol diminishes certain areas of the brain, especially the hippocampus which is where short-term memories are stored.

Prolonged depression can thus destroy your brain’s ability to remember anything new. Seek professional help to combat your depression – your brain will thank you.

3. Get a Good Night’s Sleep and Take Naps

Getting a consistent 7 to 8 hours of sleep each night will increase your memory. During sleep, the brain firms up memories of recently acquired information.

Getting enough sleep will help you get through the full spectrum of nocturnal cycles that are essential to optimal brain and body functioning during the waking hours. Taking a nap throughout the day, especially after learning something new, can also help you to retain those memories as well as recharge your brain and keep it sharper longer.

4. Feed Your Brain

Fifty to sixty percent of the brain’s overall weight is pure fat, which is used to insulate its billions of nerve cells. The better insulated a cell is, the faster it can send messages and the quicker you will be thinking.

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This is precisely why parents are advised to feed their young children whole milk and to restrict dieting – their brains’ need fat to grow and work properly. Skimping on fats can be devastating even to the adult brain.

Thus, eating foods that contain a healthy mix of fats is vital for long-term memory. Some excellent food choices include fish (especially anchovies, mackerel and wild salmon) and dark leafy green vegetables. Here’re more brain food choices: 12 Foods that Can Improve Your Brain Power

Deep-fried foods obviously contain fat but their lack of nutritional value is not going to help your brain or your body, so think healthy foods and fats.

5. Eat Breakfast and Make Sure It Includes an Egg

According to Larry McCleary, M.D., author of  The Brain Trust Program, an egg is the ideal breakfast. Eggs contain B vitamins which help nerve cells to burn glucose, antioxidants that protect neurons against damage; and omega-3 fatty acids that keep nerve cells firing at optimal speed.

Other foods to add to your breakfast include fruits, veggies and lean proteins. Avoid trans fats and high fructose corn syrup. Trans fats diminish the brain cells’ ability to communicate with each other and HFCS can actually shrink the brain by damaging cells.

Having a healthy breakfast in the morning has been shown to improve performance throughout the day. If you’re too busy to have a healthy breakfast, this maybe just right for you: 33 Quick And Healthy Breakfasts For Busy Mornings

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6. Write it Down

If there’s something you want to remember, writing it down can help.

It may sound like a no-brainer, but do you really know why? Writing it down creates oxygenated blood flow to areas of your brain that a responsible for your memories and literally exercises those parts of it. Here’s How Writing Things Down Can Change Your Life.

You can start a journal, write yourself emails or even start keeping a blog – all of these activities will help to improve your capacity to remember and memorize information.

7. Listen to Music

Research shows that certain types of music are very helpful in recalling memories. Information that is learned while listening to a particular song or collection can often be recalled by thinking of the song or “playing” it mentally. Songs and music can serve as cues for pulling up particular memories.

8. Visual Concepts

In order to remember things, many people need to visualize the information they are studying.

Pay attention to photographers, charts and other graphics that might appear in your textbook; or if you’re not studying a book, try to pull up a mental image of what it is you are trying to remember. It might also help to draw your own charts or figures, or utilize colors and highlighters to group related ideas in your notes.

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Here, you can learn How to Become a Person Who Can Visualize Results.

9. Teach Someone Else

Reading material out loud has been shown to significantly improve memory of the material. Expanding further upon this idea is the fact that psychologists and educators have found that by having students teach new concepts to others, it helps to enhance understanding and recall.

Teach new concepts and information to a friend or study partner, and you’ll find you remember the information a lot better.

10. Do Crossword Puzzles, Read or Play Cards

Studies have shown that doing crossword puzzles, read or play cards on a daily basis not only keep your brain active but also help to delay memory loss, especially in those who develop dementia.

So pick up the daily newspaper and work on that crossword puzzle, read a book or enjoy a game of solitaire.

Pick one to two of these tips first and start applying them to your everyday life. Very soon you’ll find yourself having better memories and a clearer head!

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Featured photo credit: Pexels via pexels.com

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