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6 Money Saving Tips for your Various insurance policies

6 Money Saving Tips for your Various insurance policies

As a matter of fact, life insurance, also known as the term or life assurance might be a bit complicated. That’s why I’ve compiled a list of 6 tips and information about different types of life insurance that can help you save money on your life insurance and to help you find the right one for your needs.

When you pass on, your family can take out life insurance money to cope up with the financial burden that you might leave behind, like medical bills, mortgage payments, childcare payments or car lease payments.

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1. Whole Life Insurance

When it comes to whole life insurance, it covers the policy holder’s entire life, and the insurance company will be liable to pay a lump sum of money when you die. This insurance type will pay your beneficiaries in cash after your death. Usually, the whole life insurance policy is expensive and you will have to pay the premium until the age of 70. On the other hand, term insurance is cheaper, as it’s just for a fixed term only. The cash taken out depends on the type of policy you’re buying.

2. Level Term Life Insurance

Now comes the level term life assurance, meaning the beneficiary will get a lump sum payment if the policy holder dies during the fixed term. Just be clear that this policy doesn’t pay if the policyholder dies after the fixed term has ended. The insurance company guarantees the payments, which remains fixed throughout the policy term. Such life insurance policies are being used by people with an interest-only mortgage – in which the mortgage amount remains fixed all through the term period.

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3. Decreasing Term Insurance

With decreasing term insurance, the insurer pays out the lump sum in case of death within the policy term. During the policy holder’s lifetime, the actual amount diminishes, and there’s no cash-in value at one time. Such life insurance policies are being used by those with a repayment mortgage – in which the outstanding mortgage decreases throughout the entire mortgage life.

4. Single or Joint Life Insurance

There are two types of coverages; single life insurance or joint life insurance. When it comes to the single life assurance policy, it’s cheaper, but you have to keep in mind your individual needs. On the other hand, the joint life insurance policy covers both you and your partner or child care payments when your non-working spouse dies. Although, the joint policies look good, don’t forget to get the quotes for single policies as well because it’s inexpensive and maybe cover both of you.

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5. Critical Illness

When you plan to buy an insurance policy, don’t forget to check that it is covering for critical illness. It’s an additional benefit that most of the life insurance companies offer. The insurer is liable to pay a lump sum of money if you’re diagnosed with heart attack, cancer, stroke or sclerosis. No doubt, the addition of critical illness to your life assurance will benefit you more in the long run, and you can save money on life insurance. But it’s also significant to calculate the added cost against the advantage of lump sum payment when you or your partner is out of work. It’s a good money-saving tip to buy a policy that covers both life and critical illness instead of paying out for separate insurances. The vital part is to check out the level of critical illness that the insurance cover as some policies include limited range such as cancer, in most cases.

6. Waiver of Premium

Another way to save money is by waiver of premium. It is the time when you’re unable to work due to critical illness, and the insurance company makes payments on your behalf for a set period. You can overlook this cost as it is added to your life assurance policy.

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Last Updated on September 20, 2018

8 Ways to Train Your Brain to Learn Faster and Remember More

8 Ways to Train Your Brain to Learn Faster and Remember More

You go to the gym to train your muscles. You run outside or go for hikes to train your endurance. Or, maybe you do neither of those, but still wish you exercised more.

Well, here is how to train one of the most important parts of your body: your brain.

When you train your brain, you will:

  • Avoid embarrassing situations. You remember his face, but what was his name?
  • Be a faster learner in all sorts of different skills. No problem for you to pick up a new language or new management skill.
  • Avoid diseases that hit as you get older. Alzheimer’s will not be affecting you.

So how to train your brain and improve your cognitive skills?

1. Work your memory

Twyla Tharp, a NYC-based renowned choreographer has come up with the following memory workout:

When she watches one of her performances, she tries to remember the first twelve to fourteen corrections she wants to discuss with her cast without writing them down.

If you think this is anything less than a feat, then think again. In her book The Creative Habit she says that most people cannot remember more than three.

The practice of both remembering events or things and then discussing them with others has actually been supported by brain fitness studies.

Memory activities that engage all levels of brain operation—receiving, remembering and thinking—help to improve the function of the brain.

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Now, you may not have dancers to correct, but you may be required to give feedback on a presentation, or your friends may ask you what interesting things you saw at the museum. These are great opportunities to practically train your brain by flexing your memory muscles.

What is the simplest way to help yourself remember what you see? Repetition.

For example, say you just met someone new:

“Hi, my name is George”

Don’t just respond with, “Nice to meet you”. Instead, say, “Nice to meet you George.”

Got it? Good.

2. Do something different repeatedly

By actually doing something new over and over again, your brain wires new pathways that help you do this new thing better and faster.

Think back to when you were three years old. You surely were strong enough to hold a knife and a fork just fine. Yet, when you were eating all by yourself, you were creating a mess.

It was not a matter of strength, you see. It was a matter of cultivating more and better neural pathways that would help you eat by yourself just like an adult does.

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And guess what? With enough repetition you made that happen!

But how does this apply to your life right now?

Say you are a procrastinator. The more you don’t procrastinate, the more you teach your brain not to wait for the last minute to make things happen.

Now, you might be thinking “Duh, if only not procrastinating could be that easy!”

Well, it can be. By doing something really small, that you wouldn’t normally do, but is in the direction of getting that task done, you will start creating those new precious neural pathways.

So if you have been postponing organizing your desk, just take one paper and put in its right place. Or, you can go even smaller. Look at one piece of paper and decide where to put it: Trash? Right cabinet? Another room? Give it to someone?

You don’t actually need to clean up that paper; you only need to decide what you need to do with it.

That’s how small you can start. And yet, those neural pathways are still being built. Gradually, you will transform yourself from a procrastinator to an in-the-moment action taker.

3. Learn something new

It might sound obvious, but the more you use your brain, the better its going to perform for you.

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For example, learning a new instrument improves your skill of translating something you see (sheet music) to something you actually do (playing the instrument).

Learning a new language exposes your brain to a different way of thinking, a different way of expressing yourself.

You can even literally take it a step further, and learn how to dance. Studies indicate that learning to dance helps seniors avoid Alzheimer’s. Not bad, huh?

4. Follow a brain training program

The Internet world can help you improve your brain function while lazily sitting on your couch. A clinically proven program like BrainHQ can help you improve your memory, or think faster, by just following their brain training exercises.

5. Work your body

You knew this one was coming didn’t you? Yes indeed, exercise does not just work your body; it also improves the fitness of your brain.

Even briefly exercising for 20 minutes facilitates information processing and memory functions. But it’s not just that–exercise actually helps your brain create those new neural connections faster. You will learn faster, your alertness level will increase, and you get all that by moving your body.

Now, if you are not already a regular exerciser, and already feel guilty that you are not helping your brain by exercising more, try a brain training exercise program like Exercise Bliss.

Remember, just like we discussed in #2, by training your brain to do something new repeatedly, you are actually changing yourself permanently.

6. Spend time with your loved ones

If you want optimal cognitive abilities, then you’ve got to have meaningful relationships in your life.  Talking with others and engaging with your loved ones helps you think more clearly, and it can also lift your mood.

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If you are an extrovert, this holds even more weight for you. At a class at Stanford University, I learned that extroverts actually use talking to other people as a way to understand and process their own thoughts.

I remember that the teacher told us that after a personality test said she was an extrovert, she was surprised. She had always thought of herself as an introvert. But then, she realized how much talking to others helped her frame her own thoughts, so she accepted her new-found status as an extrovert.

7. Avoid crossword puzzles

Many of us, when we think of brain fitness, think of crossword puzzles. And it’s true–crossword puzzles do improve our fluency, yet studies show they are not enough by themselves.

Are they fun? Yes. Do they sharpen your brain? Not really.

Of course, if you are doing this for fun, then by all means go ahead. If you are doing it for brain fitness, then you might want to choose another activity

8. Eat right – and make sure dark chocolate is included

Foods like fish, fruits, and vegetables help your brain perform optimally. Yet, you might not know that dark chocolate gives your brain a good boost as well.

When you eat chocolate, your brain produces dopamine. And dopamine helps you learn faster and remember better. Not to mention, chocolate contains flavonols, antioxidants, which also improve your brain functions.

So next time you have something difficult to do, make sure you grab a bite or two of dark chocolate!

The bottom line

Now that you know how to train your brain, it’s actually time to start doing.

Don’t just consume this content and then go on with your life as if nothing has changed. Put this knowledge into action and become smarter than ever!

Featured photo credit: Unsplash via unsplash.com

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