The global economic crisis is causing all of us to review our outgoings and to reconsider whether we really need to spend on items we used to take for granted such as life insurance. However, whilst many of us are eager to reject the idea of life insurance as a necessity at all, we all know that the best way to really save and benefit from the security it offers is to be a healthier person. So how healthy are you? And could you be benefiting from kicking some of those indulgent vices into touch?
Smoking
Whether you are a smoker or not can make a huge difference to the amount you spend on life insurance premiums. UK No Smoking Day occurs on the 11th May and highlights the many benefits of quitting, and aside from the obvious health implications, the financial ones via savings on your life insurance are also very great. According to The Guardian, stopping smoking for a year when you reach the age of 40 can result in premiums 50 percent lower than they would be for a continuing smoker. Taking actual costs into account, an individual could save over £100 a month.
Alcohol
Similarly, alcohol consumption can affect life insurance prices also. This information increases in significance when we consider how much is adequate to drink in health terms. The Telegraph reported last December that insurers were being forced to push up prices after increases in cases of liver cirrhosis, heart problems and cancers which may be linked to alcohol consumption – whilst statistically 20 percent of UK men and 30 percent of women are said to drink ‘hazardous’ amounts. 50 units, i.e. an amount that is considered harmful can result in £300 extra on premiums over a year. Yet, an article at bytestart.co.uk highlights the importance of re-taking a liver-function test should you cut down, as this will likely be taken into account during a life insurance review.
Obesity
Being obese to the point that it affects your health, and with levels of clinical obesity increasing faster in the UK than anywhere else, insurance companies are beginning to take note. Statistics form whatprice.co.uk look at the average 40 year old (at 12 stone) compared to an obese person of the same age and who will weigh 18 stone. Cover that is worth £100,000 would cost 50 percent more for the latter individual, but they may even be at risk at not being granted cover at all.
Whilst the recession is causing many of us to cut back on spend, and to re-assess the financial aspects of our lives, by acknowledging the savings made by those with a healthier lifestyle it seems that 2009 might be the best year to focus on our health habits as well as our money habits. And if you are healthier now than you have been since buying life insurance, review your policy and compare prices – and keep them informed even if you have just joined the gym. It might be worth more than you had realized.
On a health-binge? Why you should review your life insurance policy
How do I protect my families money?
Here are 10 things you can do to protect your families wealth from the simple creating a will to the less obvious like discounted gift schemes.
1.Make a will
Without a will, the State decides who receives money and assets in your estate. When this happens in England and Wales, your spouse takes the first £125,000 as well as your personal possessions and an interest for life in half the balance. The rest goes in equal shares to your children.
By making a will you could, for example, transfer some of your assets to children, grandchildren or others after your death within the £300,000 nil-rate band which would mean these bequests were IHT-free. All transfers between spouses are IHT-free but simply passing all assets to the surviving spouse means the IHT allowance of the first spouse to die is wasted and an extra £120,000 extra tax may be paid when the second spouse dies.
You could also use your will to set up a family trust but recent legal changes may mean your will needs updating. It is important to revise your will whenever your circumstances change - for example, when there is an addition to the family.
2.Change ownership of your home
Couples usually own their home jointly, meaning you both own the entire property. You should change ownership to become tenants in common so that you each own half of it.
David Rothenberg of accountants Blick Rothenberg explained: 'If you own it jointly, the house automatically belongs to the other person when you die. "By severing the joint tenancy you can give your share away to someone else when you die."
It is simple and cheap to do. A lawyer should charge around £100 to do it. But it is very important to consider the risk such a bequest might present to the security of tenure of the surviving spouse.
3.Equalise other assets
Equalise your estates. By having most of your cash, savings and assets held jointly or in one name only, the other person will not be able to use up their IHT allowance in their will.
Accountant Charlotte Black of Brewin Dolphin said: "If everything is held jointly it causes a problem as there is nothing to pass on when the first person dies."
Where husbands and wives or other members of civil partnerships trust each other sufficiently to equalise assets, they may even achieve immediate tax savings through making more use of the personal allowance for income tax - currently £5,225 per person aged under 65 - and capital gains tax - £9,200 per person during the tax year which ends on April 5, 2008.
4.Give with warm hands
You can give money and assets away before you die but there are strict limits under the IHT regime. Each person can give away £250 a year to any number of people as well as £3,000 in total annually to different people.
If the £3,000 allowance wasn't used last year you can give away another £3,000 this year. So, for example, couples who have made no use of this gift allowance can give away £12,000 in total this year.
There are no limits on the amount you can give away regularly out of your income, but it must not reduce your lifestyle.
Mr Rothenberg explained: "The Revenue is getting quite tough on this - so it's important to keep records of your expenditure as your income has to remain sufficient to cover your expenses. And record what you've given away."
5.Put your life cover in trust
When you die your life insurance will automatically pay out to the beneficiaries without having to go through the IHT regime if it is held in trust. The death benefit passes directly to them without being counted towards your estate. The life company - or, for example, the insurer which issued a with-profits endowment - will give you a form to complete to do this and it is usually free.
6.Check your pension arrangements
Employers' pensions are normally written in trust meaning any death-in-service lump-sum payment passes directly to whoever you nominate. Pension benefits for a widow or widower do not affect IHT though they will be subject to income tax.
Personal pensions should be written in trust, too, so that the pension pot can pass tax-free to whoever you wish. This must be done before you have to buy an annuity at 75 and cannot be done if you are in poor health - so it makes sense to consider action sooner rather than later. For example, as Mr Rothenberg said: "You can't change it if you are at death's door."
7.Consider tax-efficient investments
Several investments are free of IHT after they have been held for two years. These are shares quoted on the Alternative Investment Market (AIM), forestry land, farming land - provided you farm it, rather than rent it out - and partnerships or shares in a private business.
However, the favourable tax treatment should not blind you to the risks in these investments, particularly AIM shares. Small or recently formed companies are often more vulnerable to setbacks in a particular sector and may have smaller reserves to help them survive difficult conditions. There is no point losing capital to avoid tax.
8.Think of a PET
Potentially exempt transfers (PETs) are gifts of assets, cash or property you make before you die but you have to survive for seven years before they become IHT-free.
After three years, the beneficiary may get some tax relief which can increase each year until the seven years is up. However, if the gift is less than the nil-rate band the whole amount is added back into your estate when calculating how much you owe in death duties.
Mike Warburton of accountants Grant Thornton explained: "The tax relief is a discount on the tax, not the transfer itself. A single gift of £300,000 six years before the death of the donor will save nothing because the gift would all be within the nil rate band. This is frequently misunderstood."
You can't give your house away and continue to live there to diminish IHT liabilities, as the Revenue will regard it as remaining in your estate. But you can give it to a child who lives with you, said John Liddington of lawyers Speechly Bircham. He explained: "The child must live in the property until you die or go in to a home and you must both contribute to the running costs in order not to fall foul of tax rules."
9.Discounted gift schemes
These are single premium life policies which pay you an income for life and you give the policy itself away. Because it is paying a fixed income, the value of the policy is reduced. The actual discount is based on your age - the older you are the more valuable it is - so you have to be under 90 years old to use this type of scheme. However, it is important to understand that HM Revenue & Customs has pursued a strategy of challenging tax avoidance schemes in the courts which may continue in future.
10.Set up a trust in your will
Homeowners usually have the majority of their wealth tied up in their property. Without a trust, you cannot give away your share of the family home safely.
In this instance, the trust only comes into existence when you die. You will your assets and share of your house (held as tenants in common) to the trust up to the value of the nil-rate band, currently £300,000 and due to rise to £350,000 by 2010.
Then the trustees sell the share of the house back to the surviving spouse in return for an IOU. When the second person dies, the loan is repaid, thus using up the first person's nil-rate band.
It may sound simple but trusts are complicated and need a specialist to handle them. For example, earlier this year, the family of an Oxford don and his wife had to pay £60,000 in IHT when their trusts were considered to fall foul of IHT rules.
The problem was that Dr Patrick Phizackerley gave half his house to his wife, who then willed it to a trust on her death, and the trust lent him the share back until his death. However, the Special Commissioners, who settle disputes between taxpayers and the HM Revenue, ruled the scheme did not apply as Mary Phizackerley had no income and had not contributed to the house.
Mr Liddington said: "Since he'd given her half the house and then loaned it back to him via the trust after her death, he was considered to have lent his gift back to himself so the loan was not deductible for IHT."
- Write a will and/or check that your existing will is up to date
- Consider changing the legal form of ownership of your home
- Equalise your assets so that both partners make use of tax allowances
- Make gifts sooner rather than later
- Put life assurance policies in trust and outside IHT
- Check pension death benefits
- Consider investing in tax shelters
- Think of a PET - or Potentially Exempt Transfer
- Discounted Gift Schemes may help - but beware pitfalls
- Set up a trust in your will
Cashing life insurance
Thinking of cashing in your life insurance? Cashing a life insurance policy can be costly business! In recent years cashing a life insurance policy has become a very common practise. It used to be that most life insurance policies were left in force in order that the intended beneficiaries could receive the face value of the insurance policy upon the death of the insured.
Ever since the inception of the aids virus, people with the disease have searched for ways to get their hands on cash to pay medical bills and in some cases just to live. Thus, if these people have life insurance policy with large cash values they end up cashing a life insurance policy or selling their life insurance policies.
Even the people who are receiving structured settlements from life insurance or an annuity are cashing their settlements in return for an immediate lump sum. These companies that buy these settlements or policies are enjoying a real bonanza...but the person with the terminal illness and their families are really losing in the end.
These investment companies buy life insurance policies from terminally ill people for a percentage of the face amount of the policy. The investment company pays all premiums for as long as the insured stays alive and collects the death benefit upon his or her death. The investment company is called a viatical company. Selling the policies can be referred to as "viatication".
In some situations people who are not terminally ill also sell their policies. In their situation their health has declined and they are in need of cash. These are referred to as life insurance settlements.
Instead of cashing a life insurance policy or selling your life insurance policy it may be prudent to take a loan from your policy if the "loan value" is sufficient to meet your financial needs. Bear in mind that there may also be tax implications involved with cashing a life insurance policy or selling it.
10 reasons why to buy life insurance
Why should you get life insurance? Well, insurance is designed to protect a person and the family from disasters and financial burdens. There are many kinds of insurance of which, the basic and most important is considered to be life insurance. It provides for the dependants after your death.
Since there are certain financial commitments you need to meet throughout life and do contribute in some way to the family income, you need to provide something even in death—to secure the home, help the family meet expenses for a while, protect dependant parents, or secure the children or spouse.
Financial obligations could include funeral expenses, unsettled medical bills, mortgages, business commitments, meeting the college expenses of the children, and so on.
How much insurance a person needs would vary, depending on lifestyle, financial needs and sources of income, debts, and the number of dependants? An insurance adviser or agent would recommend that you take insurance that amounts to five to ten times your annual income. It is best to sit down with an expert and go through the reasons why you should consider insurance and what kind of insurance planning would benefit you.
As an important part of your financial plan insurance provides peace of mind for any uncertainties in life.
- Life insurance correctly planned will on premature death provide funds to deal with monies due, mortgages, and living expenses. It offers protection to the family you leave behind and serves as a cash resource.
- It secures your hard earned estate on death by providing tax free cash which can be utilized to pay estate and death duties and to tide over business and personal expenses.
- Life insurance can have a savings or pension component that provides for you during retirement.
- Some policies have riders like coverage of critical illness or term insurance for the children or spouse. There are certain rules regarding eligibility for riders which you will need to determine clearly.
- Having a valid insurance policy is considered as financial assets which improves your credit rating when you need health insurance or a home loan or business loan.
- In case of bankruptcy, the cash value as well as death benefits of an insurance policy is exempt from creditors.
- Life insurance can be planned such that it will cover even your funeral expenses.
- Term life insurance has double benefits, it protects and you can get your money back during strategic points in your life.
- Insurance protects your business from financial loss or any liabilities in case a business partner dies.
- It can contribute towards maintaining a family’s life style when one contributing partner suddenly dies.
Visit Post Office® for life insurance quotes and to buy a simple, cost effective life insurance policy, offering you a way to pay off your mortgage or leave your family a cash sum when you die.
Life Insurance
1 in 3 is the number of families who have no life insurance cover, critical illness insurance, or income protection cover in place. It is very important that people understand exactly what they are buying. Speak to a life insurance and protection adviser who will highlight appropriate policies. People should view income protection, critical illness, life insurance, private medical insurance and mortgage payment protection insurance as a basket of goods, choosing which are most relevant for them at any given moment.
When buying insurance, you can be overwhelmed by an information avalanche. To protect your future from poor choices today, try searching in terms of the 5 W's:
Who?
The classic argument to avoid life insurance runs, "If I die, why do I need money?" You don't -- but your family, your business or your favorite charity might. So anyone with dependents, human or otherwise, might need life insurance. Of course, if you don't need to protect anyone else, insurance is not a wise way to spend money.
What?
People approach life insurance with predisposed notions. They might be oriented to term insurance, yet don't have a good argument as to why. Any kind of insurance is a contract with requirements on both sides. Unfortunately, too many people think life insurance is a commodity, like going to the grocery store and picking up a piece of fruit to judge."
"Term" insurance forms the base of every life insurance policy. Think of it as renting a safety net: The owner pays a fixed premium toward a concrete payoff over a specific time. If you die during this period, the insurance company pays the promised amount. When the policy reaches its deadline, the coverage vanishes.
Some insurers offer convertible policies that allow a return client to take out another policy at the rate of a healthy person, but you pay a higher premium for the privilege. Insurance companies also offer three variations of permanent life insurance - that is, insurance that covers you for your entire life.
"Whole life" offers term insurance's set payoff for a set premium, except this policy doesn't come with an ending date. You'll pay the premium for the rest of your life, unless you decide to cash in and receive the cash value as a lump sum.
With "universal life", the insurance company separates the investment and death benefit portions, socking your investment dollars into its choice of bonds, mortgages and money market funds. Then your investment fund pays for the cost of the set death benefit. And, according to LIFE, no matter how badly the investments pan out, the insurance company guarantees you a minimum return.
You, as the policyholder, can change the premiums and death benefits to suit your current budget, so this appeals to younger crowds.
Finally, if you buy variable life, the death benefit payoff depends on your success in picking investment opportunities with the money (although the insurance company does cough up a guaranteed minimum death benefit at your death if you screw up too badly). These policies must be registered with the U.S. Securities and Exchange Commission.
Where?
Approximately 90 percent of life insurance is sold at the kitchen table; a growing 7 percent to 10 percent is sold over the Internet, according to AccuQuote's statistics. In either case, caution should prevail. This is not something you want to screw up and leave someone in the lurch.
When?
If you buy a term policy, there's no penalty to committing today. Just as homeowners refinance mortgages at lower interest rates, life insurance policyholders can cancel a policy at any time to replace it with a less expensive equivalent -- providing their health remains stable, of course.
Why?
Life insurance provides instant liquidity to meet the obligations that become due upon your death. It's a pool of money to complete what you can't finish. It's also not taxable income. Of course, don't make it your sole investment strategy. Other vehicles' returns beat permanent insurance products hands down!
How much?
When pondering coverage, buyers first should inventory their assets:
- job insurance perks
- social Security benefits
- IRA accumulations
- stocks
- bonds
- savings accounts
"We don't want to think about these objectives because it's unpleasant for ourselves. It's easier to flip on a computer, say I need £125,000 and discover it costs X amount per month! Many buyers arrive at coverage numbers using the popular formula of four times their annual current salary. Wrong.
Too frequently people go into this half cocked with numbers they literally pull out of the sky. Taking a simple multiple of your current earnings is so nonspecific, it doesn't add up.
You should rely on a capital assessment to determine coverage need.
I typically tell people during the accumulation phase of their financial life that now is the time you can start cutting back on life insurance. Instead, build up your capacity to self-insure. Otherwise, here I am five years down the road with pay raises, and I'm still using a multiplier of four times whatever my income is. I'm basically buying more life insurance than I need."
As yourself this question "If I wrote you a cheque today for the amount on your insurance policy, would you work for me for the rest of your life at no pay?"
Next, is the price you pay reasonable? Insurance companies use life expectancy tables and risk classes to determine rates, then factor in underwriting costs. They consider mortality rates over time, so isolated events, such as the Sept. 11 attacks, don't significantly impact rates.
Today, Internet speed means companies compete on rates by the minute, so overall life insurance rates have plummeted nearly 60% from their costs just seven years ago. Yet a 40-year-old in good health seeking a 20-year term policy can find quotes ranging from £18 to £100.
The middle of the pack is almost double what you need to be paying, and believe me, plenty of companies in this level sell tons of life insurance. However, a few extra pounds for an A-plus-rated firm makes sense. Niceties like convertibility and quick claims processing stack up, too. In other words, cheapest isn't the only consideration.
Anything within £15 and £30 annually isn't worth the savings to deal with a poor company!
People often say, 'When I buy life insurance I'm betting against myself.' That's the worst expression I've ever heard,"
Life Insurance Starts at 50
It's inevitable that when you enter that bracket of the over 50s, your financial future starts to loom large. Pensions in particular are just over the horizon, and it's usually at around this time that you start to truly assess the provisions that you've put in place for such a time as when you retire (either that or you curse your lack of forethought!).
But alongside this imminent financial upheaval, there is the question that's beyond that, thankfully still out of palpable reach - life insurance.
Inevitably, ones own mortality starts to be felt in more and more of your life, and consequently, thoughts turn to providing for your nearest and dearest in the event of your death. Although it's easy to shrug off the notion of dying, it pays to consider taking out a policy, or reassessing your existing one, at this stage - potentially before any personal circumstances change. Age, sex and health are the major contributing factors to how expensive the premium on your policy will be, so of course, when you start in to your fifties, insurers will change their offers to fit that watershed, half-century moment.
Many companies will offer a specific over 50s life insurance, with particular rates and guarantees entailed. Often there will a guarantee of acceptance without any medical check - mainly because your age has become the largest factor in deciding how much your premium will be - though it pays to be entirely honest with your insurer.
Closet smokers who are in denial will find it's too late, post-death, to convince your insurer that you only smoke occasionally - by which time the pay out may have been denied. However, due to your being over 50, the policy will be particularly easy to arrange, although it is still worth shopping around for the best offer for you.
Most insurers will incentivise their product, and it may have repercussions on the way that your bank or building society - if you decide to take out a policy with them - will treat you as customers.
Wrong Cover Life Insurance?
According to the Association of British Insurers, more than half of British households have no life insurance—and of those who do invest in some protection, a large number have too little insurance, too much, or are simply paying for the wrong type of life cover. Simply having a policy is no longer enough.
There is a large range of options for life insurance, and it’s important to choose life insurance that will meet your current needs and provide adequate protection for your family.
You could be paying too much money for the wrong cover if:
- You’ve gotten married, had children, taken out or paid off a mortgage, divorced or retired without reviewing your policy
- You haven’t reviewed your policy within the last five years
- You bought any type of life insurance without first determining exactly what type of policy you needed
- You bought the life insurance cover that a salesperson told you was necessary, rather than seeking independent financial advice.
Choosing the Right Policy
Choosing life cover that will suit your lifestyle and family circumstances requires some careful consideration before you start shopping for policies. Depending on whether you’re married or divorced, have young children or adult children, are working or retired, your insurance needs are quite different.
Consider the following example. Let’s say you’ve just gotten married, and you and your spouse don’t plan to have children for around ten years. For the first ten years of your married life, the type of insurance you get may very well depend mostly on what you can afford. You won’t need a long term insurance policy, because your insurance needs will change when you start having children.
As a young couple with no children, a joint term policy is both cost effective and sufficient for your needs. However, when you have children, you will most likely want to increase the value of your policy, opt for two separate policies rather than a single joint policy, and also consider switching to whole life insurance. When your children become financially independent, you’ll again want to review your cover, and you may find that your insurance needs have reduced at this time.
One important point to note is that it’s better to seek advice from an independent insurance or financial adviser. An independent broker is in a much better position to shop around and find you the best prices, whereas a broker who represents a single provider is unable to provide this benefit—and sometimes they’re more likely to pressure you into choosing a policy that won’t meet your needs. You can find a database of independent financial advisers in the UK at www.unbiased.co.uk.
If you are certain about your life cover needs, you could also consider a discount broker such as Life Saver who will rebate some or all of their commissions to reduce the premiums you pay. Many of these brokers do not offer advice so this option is not suitable if you are unsure which product is right for you.
Insuring yourself for the Right Amount
How much should you cover yourself for? This depends not only on what you can afford, but also on your current lifestyle and expenses. A good rule of thumb is to choose a policy that is worth around ten times your annual income, before tax. However, if you have young children or a mortgage, you may want to consider a higher sum—for example, you might add the value of your mortgage to the sum assured if not already covered by another policy.
Note, however, that depending on your circumstances it may be more prudent to opt for a separate policy to cover your mortgage. If you don’t have much money to spare for insurance, choosing a decreasing term mortgage policy is a good option—this keeps your premiums lower, as the amount you’re insured for decreases as the mortgage is paid.
Action Steps
- Review your life insurance if you have had a policy for more than five years or if your personal or financial circumstances have changed.
- Take advice from an independent adviser if you are unsure about the type, amount or term of your policy.
Why Get Life Insurance?
Surfing the web has made the process of applying for life insurance a lot easier than days gone by. You can now get life insurance application processed in a matter of minutes rather than days.
Life insurance is a tricky subject as nobody wants to think the worst and especially if you are healthy and feel no need for it. However, life is very fragile. You only have to look in your daily newspaper every week to see those who have passed away and they are of all ages, not just the elderly. Life can be taken without a moments notice and leave your loved ones struggling without your financial help, especially if you have a mortgage or other financial commitments. This is why life insurance is so important.
Why Get Life Insurance?
Ignoring life insurance could put your family in a desperate financial position during a time when they are grieving at your passing. The last thing you want is for them to worry about money and paying the bills.
The massive choice of life insurance policies online can be overwhelming so here are some tips on how to decide what is the best life insurance cover for you.
- Ensure that you know exactly what you want. If you do not define your goals before you go looking for life insurance, you may end up selecting the wrong policy.
- Life insurance isn’t restricted to family men and women alone as business partners can also take out life insurance. If you want to ensure that your business stays afloat even after your death, you can take life insurance. As long as you have a beneficiary, life insurance is definitely not a wasted effort.
- The beauty about life insurance lies in the fact that the beneficiary will obtain a large amount of cash to continue the lifestyle he or she was living before. The life policy you buy can eventually be used by beneficiaries to pay off a mortgage on the home. Life insurance ensures that your family has the life that they have always been used to.
Term life insurance policy encompasses a contractual agreement between you and an insurance company in which you agree to pay a certain amount as premiums for a number of years. If you die before your term life insurance is up in a term life insurance, your recipient will receive the amount that the policy is worth.
Whole Life Insurance
A whole life insurance is one that covers you for the duration of your life. With a whole life insurance, you get to save some cash and use the cash for useful things such as your child’s education in college. Whole life insurance gives you the opportunity to gather more money through compulsory savings.
Shop around online for life insurance using a combination of price comparison sites and independent websites to get the best product at the best price for you.
Live Longer with a Mediterranean Diet
Adopting elements of a Mediterranean-style diet, which is high in fruit and vegetables and low on red meat and dairy produce, can reduce the risk of cancer by almost a quarter, according to a major study of people's eating habits.
It has been thought for some time that making dietary changes such as eating more olive oil and less butter could lead to a significantly lower incidence of heart disease, and now comes detailed evidence of how it can dramatically cut the chances of all types of cancer developing.
The research shows that just two elements of the Mediterranean diet added to daily food intake can cut the possibility of cancer taking hold by 12 per cent. Increase that to six items a day and the prospect of the disease being diagnosed falls by a staggering 22 per cent. Adding two elements to the daily diet could simply be eating more pulses and consuming less red meat.
More than 26,000 Greek men and women were studied over eight years by the scientists who found that consuming high levels of monosaturated fats – the "good" fat found in olive oil – in relation to the "bad" saturated fats found in dairy produce had the single biggest effect in relation to lowering the cancer risk from the diet. More olive oil and less butter reduced the risk by 9 per cent.
"Of the 26,000 people we studied, those who closely followed a traditional Mediterranean diet were overall less likely to develop cancer," said the study leader, Dimitrios Trichopoulos, professor of cancer prevention and epidemiology at Harvard University. "Although eating more of one food group alone didn't significantly change a person's risk of cancer, adjusting one's overall dietary habits towards the traditional Mediterranean pattern had an important effect."
The study, published in the British Journal of Cancer, monitored the prevalence of all types of cancer from stomach and bowel to liver, cervix and brain tumours. They looked at men and women, and took into account other risk factors, such as smoking and lifestyle.
The research is part of the European Prospective Investigation into Cancer, a unique and ongoing look at dietary habits and other biological and lifestyle characteristics of more than half a million people across Europe before they were diagnosed with cancer or other chronic illnesses.
The scientists carried out detailed surveys of each person to study the sort of food they regularly ate and in what quantities.
The nine food groups measured were monosaturated and saturated fats, fruits, vegetables, legumes such as peas and lentils, cereals such as wholegrain bread and pasta, meat, dairy food, fish and alcohol.
"The researchers found that people who more closely followed a traditional Mediterranean diet had a lower incidence of cancer. Importantly, lower risk wasn't only seen by completely adopting the traditional Mediterranean diet, closer conformity also reduced cancer risk. And the more changes, the bigger the effect," said a spokeswoman for Cancer Research UK, which helped to fund the work.
Cancer specialists said the best advice for people to avoid getting cancer was not to smoke, to take regular exercise and eat a balanced diet rich in fruit and vegetables and low in red meat and saturated fats. "This is an interesting study but the best advice for cancer prevention remains to eat a healthy diet, to be regularly physically active and to maintain a healthy weight," said Rachel Thompson, science programme manager for the World Cancer Research Fund. "Looking at all the evidence on diet, people looking to reduce their cancer risk should aim to eat plenty of wholegrains and fruits and vegetables and limit their intake of red meat, salt and energy-dense foods."
Sara Hiom, director of health information at Cancer Research UK, said: "This helps us to understand more about the simple changes a person can make to their diet to reduce their risk of cancer and improve overall health. Although we know that unhealthy diets generally and being overweight are important risk factors for a number of cancers, the link between individual foods or food types and cancer has been less clear.
"This research highlights the importance of maintaining a healthy balanced diet to reduce your risk of cancer. It shows there are a number of things you can do, and there is no one 'superfood' that can stop you developing the disease."
10 Things Surprisingly Good For You
We are forever being told that this is bad for you, that is bad for you. If you are like me and are sick to death of being told what to eat, drink then you will probably like this! Here are 10 things that people tell you are bad but actually have surprisingly healthy aspects to them.
10. Ice Cream
Ice-cream is a low GI (glycemic-index) food. This means that it is a slow sugar release food that keeps you satisfied for a longer period of time than a high GI food. For that reason, you are less likely to binge after eating ice-cream. 75 grams of Ben and Jerry’s Cookies and Cream ice-cream contains only 114 calories compared to a slice of cheesecake with 511 calories.
Furthermore, ice-cream is made of milk which contains many essential nutrients and vitamins. 1 cup of milk contains up to 30% of a man’s daily recommended intake. Other nutrients in ice-cream are biotin, iodine, potassium, selenium, vitamins a, b12, D, and K. Studies show a possible link between milk consumption and a lowered risk of arterial hypertension, coronary heart disease, colorectal cancer.
Interesting Fact: In the 5th century BC, the ancient Greeks sold snow cones made with fruit and honey in the markets of Athens.
9. Dirt
Throw away the rubber globes! Dirt is back in vogue! Remember the days where kids played in dirt, food was served with bare hands, and straws didn’t come in individual wrappers? It turns out - they were healthier days than our modern sterile ones! Early childhood exposure to bacteria, viruses, and parasites has been found to give a massive boost to our immune systems, making us less likely to get sick when we do come in to contact with various bugs. Research has found that children with a dog in the home are less likely to suffer allergies, and regular social interaction can reduce the risk of leukemia by up to 30%. Those are statistics not to ignore - so throw away the anti-bacterial cleaners and get dirty!
Interesting Fact: There are as many as 10 times more bacterial cells in the human body than human cells! The vast majority of these are harmless.
8. Stress
Stress is universally considered a bad thing - in some cases people have successfully won lawsuits against companies for work-related stress. But, what most people don’t know is that a little stress goes a long way to making us healthier. In short doses, stress can help boost the body’s immune system. In the first stage of stress (the “alarm” stage - often known as the “fight or flight” response) the body produces cortisol - a stress fighting hormone which has many benefits to the body. Stress can give a feeling of fulfillment - when this is the case it is called “eustress” as opposed to “distress”.
Interesting Fact: The term “stress” and the mental properties of it was not known before the 1950s. Until that time it referred simply to hardship or coercion.
7. Caffeine
Not only is coffee tasty, it is a mild stimulant with many medical uses. Caffeine contains a muscle relaxant that is very beneficial to people with bronchial problems - it can alleviate the symptoms of asthma. Additionally, caffeine releases certain fatty acids in to the blood stream that become a useful source of fuel for muscles. It even seems that the only serious side-effect to too much caffeine is a small amount of body-weight loss - a danger if you are anorexic. Caffeine should be avoided by people with fecal incontinence as it loosens the anal and sphincter muscles.
Interesting Fact: Caffeine can be toxic to animals, in particular dogs, horses, and parrots. It also has a much more significant effect on spiders than humans.
6. Red Wine
Red wine contains a group of chemicals called polyphenols (once called Vitamin P) which have been found to be very beneficial for health. They reduce the risk of heart disease and cancer. Wine has also been found to be an effective anti-bacterial agent against strains of Streptococcus (found most often in the human mouth) which can help reduce infections. Some wine varieties have extra health benefits; Cabernet Sauvignon appears to reduce the risk of Alzheimer’s Disease. In addition to the benefits already listed, wine is chock full of antioxidants which play a huge role in the health of the human body. The wines found to have the greatest benefits are found in the South of France and the Sardinia region of Italy.
Interesting Fact: Wine originated in the regions of Israel, Georgia, and Iran, around 6000 BC.
5. Chocolate
As a result of recent research into chocolate and health, it appears to be something of a panacea (cure-all) - coupled with the great taste and mood enhancing properties, it might be seen as a wonder drug! Cocoa or dark chocolate improves the overall health of the circulatory system, it stimulates the brain, prevents coughs, prevents diarrhea, and may even be an anti-cancer agent.
Like coffee, chocolate is toxic to many animals. A BBC study indicates that melting chocolate in your mouth increases brain activity and the heart rate more intensely than passionate kissing, with the effect lasting four times longer after the activity ends. Eating regular small quantities of chocolate reduces cholesterol and the chances of a heart attack. Sign me up for some of that medication!
Interesting Fact: Chocolate has been used as a drink since at least 1100 - 1400 BC.
4. Cannabis
Cannabis is said to be beneficial for over 250 conditions. For this reason it is legal on prescription in a number of Western countries. Cannabis is believed to help with arthritis, asthma, depression, glaucoma, and pain. It is also reported to be a good treatment for constipation. Cannabis is also useful in dealing with the sideeffects of treatments for cancer, AIDS, and hepatitis. Cannabis has been used medicinally for over 3,000 years! Strangely, the cultivation and use of cannabis is outlawed in most countries.
Interesting Fact: Evidence of the use of cannabis as a non-medicinal drug exists as charred seeds found in Romania dating back to the 3rd millenium BC.
3. Beer
The moderate consumption of beer has been associated with the lowered risk of head disease, stroke, and mental decline. In addition, brewers yeast (used in the production of beer) contains many nutrients that are carried through to the final drink: magnesium, selenium, potassium, phosphorus, biotin, and B vitamins. For this reason, beer is sometimes referred to as “liquid bread”. In 2005 a Japanese study found that low-alcohol beer may contain strong anti-cancer properties. Contrary to popular belief, a “beer belly” or “beer gut” is not produced by the beer, but rather overeating and lack of exercise.
Interesting Fact: Beer is one of the oldest beverages - dating back to the 6th millennium BC.
2. Smoking
Often referred to as “Smoker’s Paradoxes”, there are a number of therapeutic uses of nicotine or smoking. For example, smokers are less likely to need surgery to provide extra blood to their heart after an angioplasty, the risk of ulcerative colitis is reduced, and it even interferes with the development of Kaposi’s sarcoma (a type of cancer of the lymphatic endothelium). Perhaps most surprisingly, is that there are connections to smoking and a reduction in allergic asthma. There is also a large body of evidence to suggest that smokers have a dramatically reduced risk of developing Alzheimer’s disease and Parkinson’s Disease. Nicotine is currently being investigated as a treatment for ADHD, and Schizophrenia.
Interesting Fact: Tobacco smoking has been a practice of humans since at least 5000 BC.
1. Pornography
Amidst the loud angry cries against pornography, a few serious scientific studies have been performed on the subject. It seems that men and women who view pornography, have improved sex lives, better sexual knowledge, and an overall better quality of life. Surprisingly, one study found that the more that pornography is viewed, the greater the improvements. In an extensive study performed in Australia, the majority of married respondents stated that they believed that pornography has had a positive effect on their marriage. While clearly not always linked to pornography, studies have found that men who had fewer orgasms were twice as likely to die of any cause as those having two or more orgasms a week.
Interesting Fact: Pornography (and the anti-pornography movement) as it is understood today is a concept of the Victorian era (19th century) which was extremely moralistic. Sexual imagery was not taboo before that time.
Final Note
Of course, moderation is the key! Everything in moderation! So in future when someone whines at you - you can point them in the direction of this webpage and have the last laugh!
Perhaps if you are considering life insurance and to get a cheap quote, do not smoke.
Sources:
1. Alzheimer’s disease is associated with non-smoking by Carol Thompson
2. Impact of Smoking on Clinical and Angiographic Restenosis After Percutaneous Coronary by Cohen, David J.; Michel Doucet, Donald E. Cutlip, Kalon K.L. Ho, Jeffrey J. Popma, Richard E. Kuntz
3. Smoking Cuts Risk of Cancer by United Press International
4. Caffeine: Perspectives from Recent Research by P.B. Dews
5. Using spider-web patterns to determine toxicity by R. Noever, J. Cronise, and R. A. Relwani
6. From psychological stress to the emotions: a history of changing outlooks by R. S. Lazarus
7. Effects of moderate alcohol consumption on cognitive function in women. by Stampfer MJ, Kang JH, Chen J, Cherry R, Grodstein F.
8. Beer as liquid bread: Overlapping science by Bamforth, C. W
9. A dynamic partnership: celebrating our gut flora by C. L. Sears
10. Dairy’s Role in Managing Blood Pressure by the National Dairy Council
11. Ice Cream - What’s in a Scoop? by Pat Kendall
12. The Lost Civilizations of the Stone Age by Richard Rudgely
13. Medical Use of Cannabis in California by Dale Gieringer
14. Dark Chocolate Could Help Hearts by Emma Ross
15. Chocolate can do good things for your heart, skin and brain by Marjorie Ingall
16. Chocolate better than kissing by BBC News
17. Polyphenols and disease risk in epidemiologic studies by Arts, I.C. and P.C. Hollman
18. Antibacterial Activity of Red and White Wine against Oral Streptococci by Daglia, M.; A. Papetti, P. Grisoli, C. Aceti, C. Dacarro, and G. Gazzani
19. For Life Insurance quotes, I recommend you visit the Post Office website at http://www.postoffice.co.uk
20. Cabernet Sauvignon Red Wine Reduces The Risk Of Alzheimer’s Disease by ScienceDaily
21. From red wine to polyphenols and back: A journey through the history of the French Paradox by D. W. de Lange
22. Now that’s what you call a real vintage: professor unearths 8,000-year-old wine by David Keys
23. Vice or Virtue? The Pros of Pornography by Matthew Hutson
24. Study concludes porn can be good for you by Nick Grimm
25. Sex and Death, Are They Related? by the British Medical Journal
How do I save money on Life Insurance?
When shopping to buy life insurance, the best way to save money on your cover and still get everything you need is to shop around to find a provider that has what you want at a reasonable price.
Life insurance is an insurance policy that will pay out a specified amount of money to a beneficiary at the time of your death and will help your loved ones to pay for your funeral expenses as well as have some money left over for their own needs. You should consider the different types of life insurance to make sure you have the coverage you need. The various types are:
Permanent life insurance
This type of life insurance has a cash value that is paid to your beneficiary at the time of your death and this cash value increases over the life of the policy. You can benefit from having this kind of cover while you are alive because you can draw off this value and invest it for your own needs.
Term life insurance
Term life insurance has the cheapest cover because it is for a specific length of time. Once that term runs out so does your life insurance, but you can renew the policy for a further term.
Whole life insurance
Whole life insurance has a specified value in a guaranteed benefit and the premiums stay the same for the life of the policy.
Universal life insurance
Universal life insurance has an investment associated with it. Part of the premiums you pay for the cover will go towards the insurance and part will go towards an investment through which you can earn money.
Once you decide what type of life insurance you want, there are ways you can save money in the amount of premiums you have to pay. Term life insurance has the lowest premiums because the pay out is not guaranteed.
You will not be able to purchase this type of policy if you have any serious health problems, such as heart disease or cancer because this increases the likelihood that you will die during the term. You will have to undergo an examination by a physician to prove that you are in good health. If you do not smoke, you will also receive a lower premium.
If you decide that you need a second life insurance policy, you can save money by getting a rider on your existing policy. This is an addition to your policy that will expand your coverage without affecting the cash value of the plan. The older you are the more you will have to pay for life insurance cover. The best advice is to take out a policy when you are young.
A person in their mid-twenties will pay a lot less for the same amount of coverage as well a person in their mid-fifties. When you buy life insurance when you are young, you have the option of locking in a level premium, which means the premium won’t increase as you age.
Smoking and Life Insurance
Why wait to transform your finances as well as your health by quitting the fags? If the obvious health benefits haven’t convinced you yet, maybe the financial benefits will! If you give up smoking - for example at New Year, or on National No Smoking Day on 8th March or any other time- you’ll not only save thousands on not buying cigarettes but in 12 months’ time you’ll benefit from cheaper life insurance too.
Life insurers classify you as a smoker if you have used ANY tobacco products in the 12 months prior to applying for life insurance. For well-documented health reasons, smoking raises the chance of you eventually making a claim on your life insurance. Insurers weigh up the likelihood of an applicant making a claim and price the cover accordingly.
The Facts
A 35-year-old man in good health will pay £8.85 per month for £100,000 of cover over 20 years if he is a non-smoker. This rises by a staggering 78% to £15.75 if he is classed as a smoker – costing him £1,656 extra over the term of his policy.*
It does not get much better for a woman in the same circumstances; her cover would rise 72% from £7.25 to £12.45 per month.*
Honesty is the only policy - If you do smoke it is not worth trying to cover up the fact in order to pay less. If your smoking comes to light when the insurer is assessing a claim, they can easily refuse to pay out.
You may even be asked, as part of the application process, to take a saliva test to confirm that you are a non-smoker. If you have lied, your application may be declined and other insurers could then refuse to cover you.
Paying the right price - It’s simple: if you want life insurance and you are a smoker it’s going to cost more.
If the potential savings have tempted you to give up, or you are giving up anyway, then look to change your policy 12 months after using your last tobacco product, knowing that the insurer will newly classify you as a non-smoker.
If you have survived 12 months without a cigarette, don’t forget to tell your insurance company. Shop around on-line to find the best deals when renewing your policy - it is likely that the best premium will be from a different life insurance provider to the one you currently use.
- Health
You’ll feel and look better and fitter and may live longer - Cash
You’ll save hundreds on your life insurance as well as the fag packets - Warmth
Legislation will ban smoking in the workplace and all pubs, clubs and restaurants in England by 2007 so if you want to smoke you will be out in the cold. Some already have a total ban in place.
Tips for Life Insurance
What should you do when shopping for life insurance? Here are our tips:
Shop Around
Don't head straight for the nearest high street bank or direct provider just because they are familiar. Most banks and high street providers are tied to one insurer and won't be able to offer potentially cheaper and better quality cover from other providers.
Use an independent insurance specialist who can compare policies and premiums. Some offer discounted premiums and free advice to help you choose the right policy and provider for your circumstances.
Comparison websites online are an excellent option as they do the hard work for you and search for the best quotes. Visit Post Office® for life insurance quotes and to buy a simple, cost effective life insurance policy, offering you a way to pay off your mortgage or leave your family a cash sum when you die.
Know What You Need
There are many different types of life insurance and policy options that are designed for various needs. To ensure you aren't disadvantaged or paying too much for cover you don't need, either research the options or take independent advice.
Work Out How Much You Need
Generally speaking, your life insurance should provide a lump sum big enough to pay off your mortgage and other debts, or to invest to provide an income to support your dependants for a sufficient time such as six months or a year.
Guaranteed Premiums
Are the premiums Guaranteed? This means the premiums are guaranteed to remain the same throughout the term of your policy. This is opposed to `Reviewable´ premiums which, as the name suggests, are reviewed usually every 5 years and can increase at the discretion of the insurance company.
Declare All Material Facts
When applying, be sure to answer all questions fully and honestly. Declare everything that you are aware of and if in doubt, declare it anyway. Failure to declare even a minor issue can result in a claim being declined. Do not give the insurance company any excuse to refuse your claim.
Write Your Policy in Trust
Even an average life insurance pay out can easily take the value of your estate on your death over the inheritance tax allowance. Anything over this threshold is liable for 40% tax when this can easily be avoided by putting the policy in trust. Its free and simply requires completion of a trust form available from the insurance company. Once in trust, the policy remains outside your estate so won't increase its value on your death.
If Unsure Take Advice
Life insurance can be as simple as insuring your car if you know what you need and your affairs are simple. However, if you're affairs are a little more complex you should take independent advice.
How Much Life Insurance?
There is no right or wrong amount of life insurance as any cover is better than none at all, but generally speaking you should insure to provide a lump sum big enough to remove the burden of any debts and, ideally, have enough left over to invest to provide an income to support your dependants for a time.
The first consideration is to clarify what you want the life insurance to protect. If you simply want to cover your mortgage then an amount equal to the outstanding mortgage debt can achieve that. However, if you want to prevent your family from being financially disadvantaged by your death and provide enough cash to support their current lifestyle, then there are a few more variables you should consider.
- What are your family expenses and how would they change if you died?
- How much would outgoings increase on things like childcare if you were to die?
- How much would the family income drop if you were to die?
- How much cover do you get from your employer or company pension scheme and for how long?
- What insurance policies do you have already and how far do they go to meeting your needs?
- How far will your savings go?
- What state benefits are there that could give extra support to meet your family´s needs?
- How would inflation affect the amount of your cover over time?
However, if you are in doubt what is right for your needs, consult an independent financial adviser who can give you specific advice.