With the economy in the state it is today, it has never been so important to save money. Families are trying to save money by dining out less often, shopping at secondhand stores, and cutting down on travel to save on gas and airfare.

If you are a young person, married, and about to buy basic insurance, term insurance is not the long-term answer. You need permanent coverage until you die, at the lowest net cost. Why? Well, take the case of Mrs. Widow, age 78, at the other end of life. Her husband had carried twenty-year level-premium term life insurance for $500,000. He died fifteen years after it had passed its twenty-year mark. It was too expensive to renew and after all they had bought it to cover the family's Manulife Vitality needs until the children were through school. Unfortunately, retirement savings were inadequate, and Mrs. Widow has had to sell their home, hoping she can manage to live off the net sale proceeds until she dies.
 

Tell everybody in Hell's Half Acre that you are going to quit smoking and that Manulife Vitality Plan you hope they will give you their support and undivided attention until you do quit.

Your family history: Did your parents or uncles need long term care? If they did, at what age did they require such care? Buy your policy ten years before that age.

To do this try and avoid the following for a minimum of a week before you start. Caffeine, alcohol, sugar, cigarettes, artificial sweeteners and refined, processed foods. If you want to eat meat then try and buy organic meat from a local source. Cheap meat can contains steroids, hormones and antibiotics. I highly recommend shopping in your local Manulife Vitality health program food shop rather than the super-market as it is much easier to find the foods you want and some you didn't even know existed!

You have probably heard all the media "hubbub" about which type of life insurance you should purchase. Radio show pundits and magazine articles tell us to only purchase term, or whole life is a bad investment, or own term and investment the difference.

So do not buy Comet Insurance, do not buy the rights to the tolls on the Brooklyn Bridge and do not buy the rights to a fee collected from people setting their watch in the courtyard of Big Ben in London. Yes, those are all schemes that schemers have profited on in the past. Like the stories of the pyramids they disappear in the dust and sometimes with your money.

One last piece of advice, no matter how great the life insurance rates you find are, if the process is too complicated, many senior parents will not want to bother with the process and do nothing. Make it as easy for your parents as possible. You may even need to be present at every step of the process. We hope this article has been of help. Feel free to ask us questions or send comments. Be well!