Day: May 19, 2021

Every year, more than 59,700 new cancer cases are diagnosed in the United States. If you have ever received news of a loved one being diagnosed with cancer, you know just how heartbreaking it can be. But knowing that you have medical insurance can help you get through the treatments, ensure recovery, and worry less about your afterlife expenses.

While there are many different types of health insurance, Gary P. Cubeta of Insurance for Final Expense says that guaranteed life insurance no waiting period is what most people consider as the more common vouchsafe for their well-being. There are two critical reasons for this. Firstly, it covers your health until it improves; and secondly, there’s no waiting period. But are there any other insurance choices once you are diagnosed with cancer?

What Are the Choices?

Some life insurance plans are open to you based on your condition, existing health situation, and specifics about your family background. A guaranteed issue policy will cover you until your health recovers while you’re undergoing treatment. And if your cancer is in progress or if you or a close one has experienced cancer, you could be considered for a traditional policy.

Term Life Insurance

You’ll be eligible to receive a term life insurance plan if your present health condition qualifies you. Since the premiums are fixed for a predetermined period, such as 10, 15, 20, or even 30 years, term life insurance is length-defined.

This kind of life insurance covers death expenses, with the survivor or beneficiaries receiving the policy’s benefit as they claim. This is referred to as “the death benefit” in life insurance terminology, ensuring financial security for family members. The insured’s death certificate is needed as evidence when filing a claim.

For Cancer Survivors: Burial Insurance Coverage

The expense of a person’s funeral, including things like a remembrance service and a gravestone, can be pretty high. These are often referred to as the final costs. As a result, after a loved one passes away, a funeral insurance policy will refund the family’s expenses. For cancer patients who have been out of remission for at least two years, a funeral insurance policy might be an alternative.

Guaranteed Issue Life Insurance Policy

This is a no-exam plan that could be right for you if you don’t qualify for permanent or term insurance. Guaranteed programs are for those suffering from or who have already suffered from severe health issues, such as cancer.

After a two-year waiting period has expired since the policy was released, a policy with a rated death benefit would pay out the entire sum. The recipient will collect all costs charged into the account, plus 10% interest if the policyholder passes well before the waiting period expires.

A graded death insurance life policy is available to everyone, regardless of cancer type, but you would be entitled to a $25,000 death benefit.

Why Guaranteed Life Insurance Plan?

Although all options are open to terminally ill cancer patients, experts choose guaranteed life insurance plans with no waiting period. During the first two or three years of coverage, policies with a delay time would not pay the death benefit to the survivors. Your insurance will be wasteful if you do not intend to live too long.

You may be eligible to supplement an existing life insurance policy with extra benefits from your insurer, but this may depend on the current policies and the product you choose to include. For example, if you already have a term life insurance policy and are satisfied with the sum of coverage but would prefer to extend the coverage span, this is most certainly possible.

Information the Insurance Provider May Ask

When you qualify for life insurance after being diagnosed with cancer, the provider will ask you a series of questions concerning your diagnosis and care, including:

• When was your cancer diagnosed?
• Your family’s history of cancer
• Your cancer type and stage, as well as whether or not it had spread
• Treatments you’ve had, when they started, and when you last had them
• If you’ve had any recurrence, where your cancer was found, its severity, and whether or not your lymph nodes were infected
• Where your cancer was located, its size, and whether or not your lymph nodes were affected
• If you’re currently on some drugs.

Final Lines

Now that you know about all the choices available, it’s time to make a move. Whether you are a cancer patient or a cancer survivor, you always have options for insurance.

Dozzy Ross Shares Some Challenges to Help Restaurants Survive in the Dynamic World Today!

Dozzy Ross, owner of Savorwynwood, shares his intellect with the millennials, “Stay focused. The fewer people you have around, the better it is most of the time. Be family-oriented. Family is what drives me, you and most of us—to stay inspired. We’re raising kings. The goal is generational wealth.” He further discusses some challenges faced by most of the people who own restaurants or cafes.

Staffing

Improper staff leads to inconsistent service, countless hours wasted on new employee training, and a potentially damaging reputation for your establishment. The top reasons for restaurant employee turnover may cause a shift in career type, different work objectives than what is expected, and disagreements with the management/customers. Not far behind that, surveyed employees—most of them lack training and behavioural skills when they deal with customers.

Finding and retaining employees that are good and skillful is a hard game to play these days. This is a major pain point for restaurant owners—scheduling, providing benefits options, pay, opportunities for upward mobility may help in employee retention.

Unknown Cash Flow

It might sound crazy, but it often happens that the restaurant is unaware of the status of their cash flow. Pay close attention to your expenditures in and out, which is imperative for the survival of your restaurant. This means you have to assess your cash in and out flow on a regular basis—every week probably. You ought to have an understanding of what income and expenses you can expect.

Inventory Management

Good ingredients make good food, and it is one of the main attractions to any restaurant. However, it also means it has to stay at the top of your priority list. Find the best resources where you can get the freshest ingredients at the best prices. Run inventory on a weekly basis and ensure your perishables are refreshed and to keep track of what is and isn’t flying off the menu. Understand how much you’re spending on ingredients, how much is being wasted, and what’s not selling.

Item Pricing

Pricing out items can be a major pain point if you’re not sure what’s selling or what’s not in season. For example, the price of mangoes change based on their season, and so will your restaurant’s flagship mango dessert will cost more during certain parts of the year. This will ensure you always keep your price in check and adjust your menu to accommodate for the increased cost. However you decide to price your items, including making selected items the same price year-round to attract customers. It’s imperative that you eliminate costly errors through miscalculations.

The best entrepreneurial tip you can take in life and in business from Dozzy Ross, restaurant owner of Savorwynwood is to “be yourself” and adapt dynamically. This was demonstrated by Dozzy with their latest venture, which exhibits Afro-Caribbean food cuisine. To know more about Dozzy Ross’s entrepreneurial journey and his Afro-Caribbean cuisine based restaurant Savorwynwood, check out Savorwynwood’s Instagram.