February is the month of love. Millions of couples will get engaged on Valentine’s Day or get married this month, and couples spend an average of $260 on cards, flowers, jewelry and other gifts. Those gifts could include life insurance. It’s not the first gift you think of when you consider romance, but it’s a good way to express your love to the important people in your life. In fact, you could think of life insurance as love insurance. Seventy-five percent of life insurance purchasers buy a policy because of love. This February, show your love with a life insurance policy, too.
Life Insurance for Yourself
When you buy a life insurance policy for yourself, you give your loved ones financial security and peace of mind. While life insurance benefits don’t replace you, they are a small way you can continue to provide for your loved ones after you’re gone. Your beneficiaries can use the money for miscellaneous purposes, including daily living expenses, an emergency fund for the future, debt repayment, school tuition or retirement account funding.
Life Insurance for Your Fiancé or Spouse
Maybe you won’t give your fiancé a life insurance policy along with the engagement ring, and a policy is probably not the first thing you buy together as a newly married couple. However, life insurance is an expression of your love and care. Your partner can choose the beneficiary and provide financial assistance to children or aging parents. The policy payout could also repay your partner’s outstanding debts, fund a favorite charity, cover end of life expenses or boost your retirement savings.
Life Insurance for Your Children
Kids have their whole lives in front of them, but they aren’t immune to birth defects, accidents and diseases like cancer. You can’t protect your kids from everything, but you can give them life insurance. A child’s life insurance policy can pay for medical expenses, funeral expenses and other end of life arrangements. It can also be donated in your child memory to his or her favorite charity or be used for the educational costs of surviving siblings. Whole life insurance policies also grow with your child. When they turn 21, they take over the policy and keep the same coverage or purchase additional insurance for their future.
This February, purchase life Insurance for your loved ones. A policy can cost less per day than your daily coffee, and it provides peace of mind. It’s a loving gift that keeps on giving. Discuss available policies with your insurance agent today.
One in five people resolve to lose weight or get healthier every January. If you choose to adopt this resolution in 2018, you could live longer. Several additional New Year’s resolutions can also prolong your life, so consider adding them to your resolution list this year.
Eat Fewer Calories
Food fuels your body, but when you eat fewer calories, you lose weight and reduce your risk of developing heart disease, diabetes and certain cancers. Choose a smaller plate, chew each bite carefully and stop eating when you start to feel full to eat fewer calories and prolong your life.
Add Brain Foods to Your Diet
Certain foods help your brain and body function properly. Plan to add these brain foods to your diet as you live a healthier lifestyle this year.
- Nuts and seeds
- Pomegranate juice
- Whole grains
- Wild salmon
Meditation reduces stress and anxiety, improves your mood and boosts your brain’s grey matter, which helps to regulate your sensory perception, muscle control, decision making and self-control. Listen to a meditative CD or simply sit still and relax as you add this practice to your daily routine and gain its benefits.
Learn Something New
When you learn a new skill, you stretch your brain and improve your memory. Resolve to take a college class, learn to edit photos or watch TED talks that enrich your life and your brain with new thoughts, ideas and lessons.
Move Every Day
Regular movement helps you stay fit, improves your overall body function and reduces stress and depression. As a bonus, moving outdoors in nature could lower your blood pressure and boost your immunity. Whether you take a walk, sign up for a dance class or join a sports team, aim to move at least 10,000 steps per day and live longer.
Start a New Hobby
Hobbies like gardening, cooking and reading improve your quality of life. Many hobbies also reduce your stress levels, improve your focus and boost your brainpower. Start a hobby or two, and you increase your enjoyment of life and life expectancy this year.
Play helps kids develop properly and learn essential skills, and play gives adults important benefits, too. Relax your body and stimulate your mind when you put together up a jigsaw puzzle, join a bowling league, shoot hoops during work breaks and play more in 2018.
Get a Physical
During your annual physical, you and your doctor review your current health and address any ongoing health issues. Prioritize this visit to stay healthy now and into the future.
Resolve in 2018 to live longer thanks to these resolutions. They improve your life and your health.
For centuries, drum therapy has helped individuals and groups get healthy. November is International Drum Month and the perfect time for you to embrace this beneficial health tool.
When you experience chronic stress, you also experience muscle tension, stomach ulcers and other physical health challenges. You deserve a better life. Pick up your drum and reduce stress in just a few minutes. Then, practice drum therapy regularly as part of a stress-free lifestyle.
Panic attacks and anxious thoughts can cripple you. Combat these emotions with drum therapy. It distracts and relaxes you as your anxiety flows through your arms and hands into your instrument.
Follow your doctor’s advice about pain management, and ask him or her about adding drum therapy, too. It releases endorphins, your body’s natural painkillers. Drums won’t cure the source of your pain, but they will help you feel better.
Whether you’re angry, sad or lonely, drum therapy turns your mood around. Pound on a drum at home or in a public space and you’ll feel better emotionally.
In addition to mental health benefits, drum therapy increases your body’s immunity. Along with regular hand washing, use drums to avoid illness this winter.
Good friends improve your attitude, reduce loneliness, inspire you to greatness and add fun to your life. Connect with others in a drum circle, and build your network of positive friends.
When you have trouble sharing your deepest thoughts and feelings, pull out your drum. Start playing a rhythm that feels right to you. Mix soft, loud, quick and slow beats as you personalize your playing. There’s no right or wrong way as you use this form of self-expression to release your inner voice.
Whether you use a spatula and pan from the kitchen or set up a professional drum set in the garage, add drum therapy to your medical treatment plan during International Drum Month. It provides numerous health benefits that partner with your doctor’s advice and medication to help you stay healthy.
You and your business partner or partners have a clear and common vision of how to run your business, where it’s going, and how it’s going to get there. As a team, you’ve worked together each and every day to share the daily demands and shape the success of your business. That said, have you thought about what would become of the business and all your hard work if you or one of your partners became ill, was injured, or died?
A business doesn’t have to become disabled or die just because one of the owners retires, dies, or becomes too sick or disabled to work. Whether the transition of business management or ownership needs to take place after death or during life, it can be orderly accomplished through appropriate business succession planning.
A buy-sell agreement is a tool commonly used in business succession planning. This planning feature, when correctly funded and designed, can orderly establish the value at which the business will be taken over and who will be doing the taking over. The owner can have a peace of mind from knowing that the business has a predetermined basis for which it can be sold in a ready market, thereby giving the owner a source of funds when they need it, such as when they are ready to retire. If the owner was to die prior to the above predetermined basis occurring, then the buy-sell can be used to meet the survivor’s needs or pay hefty estate taxes.
Although there are several ways that a buy-sell agreement can be established, an entity purchase agreement and cross purchase are the two most often used:
Due to favorable tax results, this is a highly used approach by many small businesses. It’s generally used by businesses that only have a small number of owners. The cross purchase is typically funded with a life and/or disability insurance policy that each of the owners must maintain on their co-owners. The death benefits from the life insurance policy aren’t subject to taxation since the owners, not the business, actually own the individual life insurance policies. Each of the business owners are legally obligated to purchase the ownership interest of the other co-owner(s) upon death.
The deceased owner’s estate sells the owner’s interest to the surviving owners in exchange for the proceeds from the life insurance policy. The surviving owners will get a step-up in the business’s tax basis. Alternatively, the insurance cash value can also be used if one of the co-owners was to need to fund a buyout during their lifetime. One point to remember regarding a cross purchase is that administration is smoothest when there are only a limited number of owners and will become increasingly difficult to administer as the number of owners increase.
Entity Purchase Agreement
This type of buy-sell agreement works somewhat like the cross purchase, but it’s the business, not the owners, that will maintain an insurance policy on each owner and agree to purchase any deceased owner’s interest in the business. As such, the taxation is different.
The death benefits under both an entity purchase and cross purchase agreement, whether being paid to the business or an individual, are exempt from federal income taxation. However, unlike with the cross purchase, there are certain situations that a C corporation can be subject to the corporate alternative minimum tax under an entity purchase. There’s also not a step-up in basis under the entity purchase plan.
Hopefully this brief overview of the entity purchase and cross purchase types of buy-sell agreements has spurred you to think about how vitally important business succession planning is to your business. Of course, this short article couldn’t possibly cover all the factors to consider when developing a business succession plan. As you begin the preparations for you business succession plan with your attorney, accountant, and insurance agent, they should be able to answer any additional questions or concerns you might have.
10 months ago ·
by Erin Carlson ·
Do you live within five miles of your workplace like half of all American workers? If so, the 20-minute ride one way burns 3,000 calories and provides key health benefits you’ll appreciate.
Boost Your Energy
Instead of waking up with coffee, tea or energy drinks, ride your bike. A recent study found that a low to moderately paced bike ride releases endorphins that boost your energy level by up to 20 percent and decrease your fatigue by 65 percent. That’s a big wake up call.
Increase Your Heart’s Health
Ride at a moderate to high intensity speed for 30 minutes at least three times a week, and watch your cholesterol and blood pressure drop in one year. You can easily achieve this goal simply by riding the long way home.
Protect Your Joints
Riding your bike is one low-impact exercise that’s perfect if you have joint conditions or leg, ankle, knee or hip injuries. If your knees aren’t bent at a 25-degree angle on your down pedal stroke, ask your bike shop professional for a saddle adjustment.
Improve Your Mental Health
There’s no denying that work and even daily life can be mentally challenging. Use your bicycling commute to regulate your emotions, combat depression and anxiety, prepare for the day or unwind after the day and improve your overall mental health.
Tone Your Muscles
Want to tone your arms, thighs and calves for summer? Riding a bike tones muscles you didn’t even know you had. The pedaling works your lower body, and you’ll tone your triceps and core by pedaling uphill while standing.
Boost Your Immune System
Exercise and fresh air support a healthy immune system. Plus, your body will be stronger and better able to fight germs inside and outside of the office.
Are you ready to jump on your bike and ride to work? Today and every day, gain healthy benefits and have fun simply by cycling. For additional tips on way to stay healthy, talk to your health insurance agent.
Your life insurance policy provides financially for your family, but you obviously want to live as long as possible. Pet ownership can help you achieve that goal.
Improve Heart Health
Your blood pressure and cholesterol could drop when you own a pet. Care for a cat, and your heart attack risk could drop by one-third. With these benefits, you improve your heart health and may prolong your life.
Obesity remains a top health concern because it can cause heart disease, diabetes and other health concerns. Your pet could help you maintain a healthy weight as you walk it, spend time cleaning its cage and perform other pet-related tasks each day.
Because your pet likes to exercise, you will move, too. Whether you walk your dog outdoors, play ball with your cat or chase your goat around the barn, the movement helps you reach your daily exercise goals and stay active. Plus, exercise boosts your immunity, decreases anxiety and improves your overall mood.
Erase the effects of a bad day when you spend time with your pet. A friendly greeting and social interaction can decrease your cortisol level and calm your nervous system.
Your body can fight off germs and illness thanks to your pet. As you laugh with your pet and groom it, your immunity gets a boost, and your body produces antibodies that fight germs.
Trained dogs can detect epilepsy, certain cancers and other illnesses in their owners. You can rely on your pet to provide an alert that allows you to seek medical help right away and address ongoing health problems.
Receive Disability Support
If you suffer from a disability, a pet can offer life-saving support. Use your seeing eye dog or another pet to improve your mobility and mental health.
Gain a Purpose
Feeding, walking and caring for your pet gets you out of bed each day. With a purpose, you’re more likely to avoid depression and choose to stay active and engaged in your life.
Cope With Trauma
If you face a serious illness or other trauma, turn to your pet for support. Your furry friend will listen to you, love you unconditionally and remain loyal throughout the ordeal.
Alternatives to Pet Ownership
Pet ownership improves your health. However, you may not want the financial or time obligations that accompany pet ownership. In this case, volunteer at an animal shelter, pet sit for friends or walk dogs after work.
Pet ownership can help you live longer. Whether you adopt a dog, cat, fish or snake, consider adding a pet to your home as you improve your health and quality of life.