Category Archives: Senior Finance

How you can obtain low-cost senior life insurance coverage

Life insurance needs for seniors take on different priorities. In earlier years when raising a family you had to provide for your partner, your children and their education. Now, with your children grown and on their own, you tend to settle down and protect your partner, property and other assets. To begin with ask yourself a few questions. How much money do I need for my monthly living expenses if something should happen to me? How do I make sure my mortgage is paid off? How do I provide enough money for my partner to live on? Do I want to build up a nest egg for my survivors?

Once you have the amount of coverage you need, the next step is to start getting quotes on your policy. Here are a few tips to help you better.


There are several ways to find the best contacts. You can start by consulting your financial advisor for the names of reputable brokers or companies. Talk to your friends to find out what kind of coverage and premiums they have. Another quick way to get the information you want is to go online and do search on several companies. Stay away from companies that want you to sign up before explaining exactly what they are offering and what your benefits are.

It is always advisable to do a little research before you plan to purchase the insurance. If possible, shop around your locality or the area nearby to get great deals. Take a wise decision before you finalise the plan. It is a very important step which many ignore.

Remember, your insurance should cover your health problems or issues. If it doesn’t, it is no use buying that policy. Ensure that you get good coverage or else you might end up spending a lot. Comparison of insurance is very essential. You will get an idea about the various deals available in the market. You can pick the one, which is tailored to your needs. When you compare insurance, you save money as you get to know the deals and the price. This is a smart way of obtaining a low-cost insurance.

There are different types of policies. Most policies fall into two broad categories, Term Life Insurance and Whole Life Insurance. Term Life has no cash surrender value and may not be renewable because of your age or medical condition. Expect premiums to jump substantially as you try to renew it. Whole Life is an asset with a cash surrender value. You may need to draw upon this provision if some unexpected event occurs. In dollar terms, Term Life is cheaper.

What to Expect. You will need to provide your medical history. Some of the items can include age, cholesterol levels, blood pressure, family history, height, weight, and any chronic conditions such as diabetes or heart disease. The company will then assign a rating and quote a premium based upon the category you fall into.

There is another type of senior coverage that is for funeral and burial expenses. This policy does not require the extensive medical information that you need for a regular policy. It is designed for persons over age 50. Coverage is guaranteed regardless of health and no medical exam is required. Your policy cannot be cancelled.

Weigh all of your options carefully. Be sure you know what your policy covers, whether you can change your beneficiary and whether you can transfer ownership of your policy. This last item is particularly important in the event that you are required to enter a nursing home and want to apply for Medicaid.

 

The above-mentioned are a few things that could help you get a low-cost senior insurance without much difficulty. Research and smart choice are the keys to obtain cheap insurance which cater your needs. The best thing is, you have options! Choose the right one, custom made to fit in your requirements

 

About the Author:

This guest post is contributed by Maria, financial guest blogger. At present she is focusing on ppi claims . Catch her @financeport

Senior Health 101: Gout Can Lessen Sex Drive

If there’s one thing that a lot of old folks complain about, it has to be gout. Gout is now considered one of the most common diseases that elderly people have. But as a caution, just because you are still young doesn’t mean that you are immune from having gout. In fact, the number of middle-aged people who are suffering from gout have increased over time. This is probably because of our unhealthy lifestyle, like eating greasy and fatty foods, not getting enough exercise and obesity. If you’re one of those people suffering from gout, whether you’re young or old, then you have to know that the secret to defeating gout has something to do with controlling uric acid.

What is uric acid? It’s a type of compound that, when found in high numbers, causes two major health problems; diabetes and gout. People who have a high amount of uric acid found in their bodies immediately have swollen joints and ankles, which is one of the primary symptoms of gout. But did you know that having a high amount of uric acid also decreases sexual libido? Research states that the effects of having hyperuricemia or high blood uric acid level, is just one of the many symptoms the disease presents. As time goes by, having too much uric acid causes erectile or sexual dysfunctions.

Is this one of the causes why most men who are overweight and have a history of hypertension and gout fail to satisfy their partners during the bedroom activity? There’s a high probability for a “YES” answer! Apparently, the high concentration of uric acid within the blood robs away the electro-static charges that is usually present in red blood cells. Without it, red blood cells start stacking together and this greatly reduces its ability to carry oxygen and other nutrients.

So what if the red blood cells don’t have enough oxygen? Well, I don’t think I have to tell you that a man’s erection is pretty much dependent on how healthy his red blood cells are. You see, there’s a sponge like structure on your body that controls the erection of the male sex organ. It’s called the corpora cavernosum. This spongy structure looks for the nitric oxide within the blood, since this nutrient is responsible for dilating the arteries located within the penis. Now, if this nitric oxide isn’t present in the blood being pumped, then erection is impossible.

This is the reason why some elderly gout patients have a hard time during blood tests. When a nurse starts drawing blood from his/her body, blood flow is difficult to achieve because it’s too thick. I’ve seen many patients having problems like these and it even gets more difficult caring for patients who have gout as well,

This is just one of the many reasons why people who are overweight or are suffering from hypertension should avoid eating too much fatty and greasy foods. Uric acid comes from grease and lard, so for those middle-aged and senior men who want to bring back their sexual drive, start exercising and eating healthy foods instead! Weight lose helps a lot, especially to people who want to get rid of their gout problems. Visit your doctor and always follow the right prescription that he/she gives. While taking anti-gout medicine helps, having a healthy lifestyle is more effective and cheaper, if you think about it!

About the Author:

Jessica Greenberg is an avid blogger and caretaker from San Diego, California. She’s also a content contributor for Ivera Med. She loves writing tips on how to take care of elderly patients.

How to Begin a Conversation about Estate Planning

Estate planning is an important part of one’s life. While it can be depressing to think about one’s eventual death, it’s important to make sure that one leaves a spouse, children or loved ones the resources they need for success in life. The following guide provides simple tips and tricks on how to begin a conversation about estate planning.

It can be difficult to get older people to start writing their will. According to the estate planning solicitors at Makinson & d’Apice, consideration and careful thought now will help down the road. Since many older people are in denial about the fragility of human life, they may not want to approach the issue of estate planning. In many ways, estate planning is a confirmation of one’s mortality. Since this can be a painful subject for many people, it’s important to discuss the subject in a respectful and solemn way.

It’s important to let an older individual know that his or her decisions will have an impact on children, a spouse and loved ones. If this older individual fails to plan his or her estate, there will probably be conflict after his or her death. By clearly defining who will receive different parts of an estate, it’s possible to avoid these types of problems.

In addition, it’s essential for an older person to understand how estate taxes can cut a large estate into smaller pieces. If an estate isn’t inherited in the correct way, the inheritors of that estate may be required to pay lots of back taxes. Since younger people are less like than older people to have lots of free capital, this can make it challenging for them to manage the many aspects of an inherited estate.

In some cases, estate planning can also benefit the person who owns the estate. For example, some estate planners are able to set up a reverse mortgage or other financial incentive for retirees. This can be a great way for an older individual to manage the costs of his or her retirement.

When talking about estate planning, it’s important to avoid rushing an individual. Many older individuals can’t handle stress very well. Because of this, it’s essential to make sure that one approaches the issue of estate planning in a sensitive way. By doing this, it’s possible to avoid lots of the headache and hassle that is associated with estate planning. In addition, this can be an excellent way to ensure that there aren’t any negative feelings that could impact one’s inheritance during this process.

The Rising Senior Housing Industry

Our society is getting older. In fact, the number of people between the ages of sixty five and eighty four is expected to rise by almost forty percent between the years 2010 and 2020.

Given our aging population, it is no surprise that the senior housing industry is on the rise. The industry is expected to continue to grow at a yearly rate of 4.2 percent.  There are already approximately one million people in the United States who are living is assisted living facilities and this is expected to rise to two million by 2030.

The number of assisted living facilities in the United States stands at around 30,000 and industry revenues are around 36.8 billion dollars.

Jobs in the Senior Housing Industry

Given the growth within the senior housing industry, it should come as no surprise that there are a number of jobs available within this sector. These jobs can be working within an aged care facility or simply providing services to the elderly.

Nurses and nursing aides are the main jobs that come to mind when someone thinks about working in an assisted living facility but there are a number of other occupations involved in providing services to the elderly.

There are jobs such as cooks and janitorial staff who are involved in the general upkeep and running of the actual facility. People with a business background are often found in management positions helping to run the position and ensure that the business remains viable.

Other occupations such as dietitians  occupational therapists and physiotherapists are required to provide service to the elderly within the senior housing industry.  A dietitian will ensure that elderly residents are eating well and getting all the essential nutrients that they need. Occupational therapists and physiotherapists will help the elderly retain independent mobility and the ability to use fine motor skills as well as helping to maintain cognitive skills.

A Job as a Public Notary

Many people are surprised to hear that public notaries are also involved with that many people may be surprised to hear that works with the elderly are notary republics. Public notaries can often be called upon to provide document notarization services for the elderly and can also help ensure that elderly residents are not taken advantage of.

Some of the documents that a notary may be called upon to sign include wills or changes to wills and documents granting someone power of attorney over an elderly residents affairs. These are the main documents that require a public notary and probably the most important.

The notary needs to ensure before notarizing any documents that the elderly person is not being coerced in any way. At times, a relative or friend may be trying to coerce an elderly person into signing over power of attorney or to change a will. A public notary needs to ensure that elderly people are signing the documents of their own free will. As a notary, you may want to talk to the elderly person in private to discuss the documents and if they are really something the elderly person wants to sign.

How to Become a Public Notary

In order to become a public notary, you must submit a public notary application to the proper authorities. You also need to ensure that you meet all of the requirements for the state to process your public notary application.

You can contact the individual state you live in to download the public notary application as well as obtain information about requirements and procedures for sending in the application.

Given the aging population and the growth of the senior housing industry, there are a number of job opportunities within this sector, public notaries among them. If you are looking for a job with a lot of growth potential and enjoy working with the elderly, then you may want to look into one of the many positions within the senior housing industry.  Sending in a public notary application to the proper authorities is one way to enjoy working with the elderly and provide a valuable service.

How seniors can earn money from their passion

Many of us dread the thought of turning 60 because we feel that at this time, we would no longer be as financially productive as we used to be. But the truth is that this stage could be the happiest and most fulfilling time of our life.

Our passion can be a great resource for income after retirement. We’ve heard a lot of successful stories in the past about retirees earning even more than their regular paycheck, after they retired. More than just that, getting to do something that we truly love is also healthy for the heart and mind. It constantly inspires us and even keeps us from being overly sensitive. Be inspired by the successful stories of these passionate seniors.

Mel, flower shop owner. Mel, 58, is a widow, whose husband just died. They had 3 kids, all grown-up, and living in different parts of the world. Her husband’s death completely devastated Mel. In the first few weeks, she didn’t even bother getting out of bed but one day, she snapped out of her catatonic self and realized that she had to do something.

Mel adored flowers. She had a small garden outside her home. During her tough times, her flower garden was her refuge. There was a feeling of calmness every time she started doing the daily gardening thing weeding, watering, etc. Then one of her daughters suggested starting a flower shop which Mel completely welcomed. It started in a small booth outside her home. Today, Mel supplies fresh flowers to flower shops in Colorado. Her online flower shop is also in the works. She never thought her passion could turn into a profitable business in the end but yes, she did.

Travis, travel blogger. Travis used to work in the real estate industry. He lost his wife to cancer when he was only 48 years old. His kids now have lives of their own. Like most seniors, Travis dreaded the thought of retiring. But instead of taking it lying down, he packed his bags and traveled the world. This man was very passionate about traveling but if you’re thinking that he spent all his hard-earned savings on his travels, you are wrong. In fact, he even earned from it through his travel blog. He earns passive income from his blog advertisers and claims that he has never been this contented about work or income source before.

Frances, caregiver. Frances thought she’d be needing care from the people around when she grows old. But this former social worker knew that she still had so much to give. She invested a portion of her retirement in a small in-home care center, a few blocks away from her home where she’d take care (and bond) with fellow seniors. Her daughters would join her to help take care of the pack. Most of her clients were from the neighborhood but in a matter of months, the business grew and have been getting clients from other towns as well. Frances takes pride of getting to do something that she truly loves. And as for the money? Yes, she’s more than happy!

We salute our passionate seniors! And we hope they inspired seniors from around the world as well.