Porter is excited to announce that Mark Stocksdale has joined the team as Chief Information and Technology Officer. Mark is a transformative technology leader and strategist who has successfully delivered innovative technology products across a variety of industries, including logistics, healthcare, pharmaceuticals, and hospitality. With over 25 years of experience, Mark will lead all aspects of Porter's product development, leveraging modern cloud architecture and engineering practices.
Mark is a leader that excels at translating business strategies into technology products that deliver business outcomes and customer value. Mark's experience in Healthcare, Pharmaceuticals, and Hospitality provides a unique combination of experience, insights, and skills that will help Porter to deliver differentiated experiences that will redefine and simplify the healthcare journey.
Most recently, Mark served as the Chief Enterprise Architect and Vice President, Enterprise Architecture at Marriott International. Mark was responsible for transforming the technology landscape that powered this hospitality organization that serves over 160M members globally. As a change agent, he defined and implemented cloud-based web and mobile architectures and solutions that transformed the digital and on-property customer experience.
Mark also served as the Head of Global Commercial Architecture at AstraZeneca Pharmaceuticals, where he defined the architecture that supported the deployment of a mobile sales platform that increased engagement through the digitization of content and real-time sample compliance.
Mark holds an MBA from the University of Delaware, Lerner School of Business and Economics, and a Bachelor of Science in Information Systems from the University of Maryland, Baltimore County. In his spare time, Mark enjoys Kayaking, Skiing, Traveling, and spending time with his family. Mark lives with his wife Jodie in Gaithersburg, Md. and often visits his daughter Samantha (24) who resides locally.
Porter's AI-driven platform connects people with everything they need to manage at home during an illness or injury, thus creating a roadmap for comprehensive home care. At Porter, they believe everyone deserves to live their best life. John Criswell, the Founder & CEO of Porter said "Mark shares our purpose and vision at Porter and with his vast background in technology, innovation, supply chain, Ecommerce, and healthcare, Mark's impact is immeasurable and we're all very excited to have him on the Porter team."
For inquiries, call (786) 224-7130 or e-mail [email protected]. Visit helloporter.com for more information on Porter.
LAKE SAINT LOUIS, Mo. - August 2, 2022 - (Newswire.com)
Earlier this summer, MTM revealed its planned acquisition of Veyo, the non-emergency medical transportation (NEMT) industry's third largest broker. Today, the organization announced the acquisition has been finalized. The deal closed on Aug. 1, with integration activities set to begin immediately.
Founded in 2015, Veyo leverages data, technology, and their Independent Driver Provider (IDP) model to improve access to care. With combined revenue of approximately $1 billion, MTM and Veyo will jointly serve 15.4 million members in 31 states and the District of Columbia, providing nearly 21 million annual trips.
"With the fusion of the MTM and Veyo organizations, we are excited to deliver more benefits to our NEMT clients and members than ever," said MTM's President and CEO Alaina Macia. "The healthcare industry is innovating at a rapid pace, and the NEMT market is no different. Combining MTM's customer service focus and Veyo's innovative processes and tools, we're primed to deliver an unmatched transportation experience to health plans and their members nationwide."
The organizations plan to seamlessly align their operations to ensure minimal impact on day-to-day services. Veyo clients and their members should expect little to no change in their NEMT program during the initial transition.
"Our foremost goal is to ensure the integration of Veyo under the MTM umbrella is transparent to our NEMT stakeholders, with improvements and operational alignment in the near future," said Veyo CEO and co-founder Josh Komenda, who will stay on board with MTM in a leadership role. "Veyo and MTM are both companies that were built on cultures of innovation and excellence, and that commitment will be unchanged. We look forward to integrating with MTM to unify our NEMT models, enhance access to healthcare, and improve healthcare outcomes for Medicaid and Medicare members nationwide."
About MTM
MTM is the nation's most trusted and qualified partner for healthcare, transportation, and logistics solutions. Since 1995, MTM has managed NEMT for state and county governments, managed care organizations, health systems, and other programs involving transportation for the disabled, underserved, and elderly. Leveraging technology to streamline processes and improve the user experience for all stakeholders, MTM's wide spectrum of services help clients improve health outcomes, promote independence, reduce costs, and increase satisfaction. In 2009, MTM's leadership established MTM Transit, an affiliate that provides direct paratransit and fixed route transit services. MTM and MTM Transit are privately held, woman-owned business enterprises.
About Veyo
Veyo, headquartered in San Diego, California, was established in 2015 as a full-service transportation brokerage designed specifically for healthcare. Veyo has reinvented the patient transportation model by integrating consumer technology with rideshare fleets to decrease costs and increase efficiency. Veyo is delivering dramatically higher levels of reliability, quality, and transparency to customers, partners, and members.
Mira's new Ovum Wand provides lab-accurate detection of the follicle-stimulating hormone (FSH) to predict menopause, evaluate fertility and assist in ovulation prediction.
Mira Ovum Wands Mira launches Ovum Wand to detect FSH in urine
SAN RAMON, Calif. - August 2, 2022 - (Newswire.com)
The FDA has listed Mira's new Mira Ovum Wand as an over-the-counter tool to detect the follicle-stimulating hormone (FSH) in urine. Starting October 2022, the product will be available to U.S. customers. The wands help monitor FSH levels to predict approaching menopause. They can also be used to monitor fertility and find possible causes of reproductive issues for women after 35.
Menopause has been a taboo subject for many generations. The lack of relevant education results in numerous misconceptions about this time in women's lives. Studies show that to this date, one-third of women do not research the topic before they experience menopause. A survey of 1,039 American women ages 40-65 finds that 45% of them didn't know the distinction between perimenopause and menopause. The Mira Ovum Wand can provide information to help understand perimenopause, predict menopause and address the symptoms early. FSH tracking can also help track the effectiveness of hormone replacement therapy to make it more targeted and personalized.
Tracking the follicle-stimulating hormone is essential for women in their 20s, 30s, or 40s because it directly impacts their ability to get pregnant. To predict approaching menopause or track changes in fertility, a person needs to test over several days for two or more cycles. Mira allows users to safely and regularly monitor their FSH levels at home without the need for constant and painful blood tests. And unlike FSH test strips, Mira provides lab-accurate numbers and data points that are saved and analyzed to give users personalized health insights. Users can also choose to share this data with their medical provider.
"The Mira Ovum Wand further expands our capabilities in at-home hormone testing. We can now provide accurate lab-like results for LH, E3G, PdG, and FSH. The launch reinforces Mira's goal to support women throughout their lives by helping them understand their hormones at any age, be it puberty, adulthood, or later years. This knowledge grants the ability to make informed fertility decisions and eliminates the dread associated with the word "menopause." So, women can go through this journey with confidence and awareness," says Sylvia Kang, CEO of Mira.
Mira offers a whole line of hormone test wands, including Mira Fertility (luteinizing hormone), Mira Fertility Plus (estrone-3-glucuronide and luteinizing hormone) and Mira Confirm (pregnanediol glucuronide). Like its predecessors, the new Mira Ovum Wand is compatible with the Mira Analyzer. This high-precision testing device uses machine learning to track changing hormone patterns over time, making Mira more effective than regular ovulation strips. The analyzer can be connected to Mira App to display clear numerical data along with personalized insights on the user's reproductive health.
ABOUT MIRA
Mira is the first at-home test to offer a personalized and lab-quality tracking system for monitoring women's reproductive health. It uses patented AI algorithms to accurately measure the levels of major hormones in a woman's urine to provide a holistic view of a woman's reproductive health. Mira is FDA-listed, clinically approved, and OB-GYN recommended.
For more information on Mira, please visit miracare.com.
Dermadry is back with their fourth annual edition of the Dermadry Hyperhidrosis Scholarship. The contest is open to students who suffer from hyperhidrosis, a medical condition characterized by excessive sweating that affects approximately one in 20 people worldwide.
Launched in 2019, Dermadry's Hyperhidrosis Scholarship is the first and only of its kind: a scholarship exclusively dedicated to students with excessive sweating.
Students who suffer from hyperhidrosis are faced with a unique set of challenges, which can have a significant impact on their quality of life and interfere with their ability to complete daily tasks. Some of these challenges include constantly sweating through school uniforms, shying away from social activities or ruining books, papers, and technology tools due to uncontrollable sweaty hands. It can also lead to an increase in stress and anxiety levels, isolation and bullying.
Submissions
Dermadry is asking students to record themselves discussing their experience with hyperhidrosis and how it impacts their studies and everyday life. Applicants must submit their application form at this link. Submissions open on August 2 and close on August 21 at 11:59 p.m. EDT.
Prize
This year, Dermadry is awarding the grand prize winner with the tools for a successful sweat-free school year: a MacBook Air and a Dermadry Total iontophoresis device to treat hyperhidrosis of the hands, feet, and underarms. The scholarship is open globally to students currently enrolled in a program at a post-secondary educational institution. The two runner-ups will also each win a Dermadry Total.
Finalists
Five finalists' entries will be selected by members of the Dermadry team, based on authenticity, originality, creativity, relatability, and subject matter. Five additional finalist spots will be reserved for the entries with the greatest reach on social media to encourage applicants to use their voice and platform to raise awareness of hyperhidrosis to a larger audience.
The winner of the grand prize will be determined by public vote. The voting period will begin on August 24 and end on August 30 at 9 a.m. EDT. The entry with the most votes will be the winner of the 2022 Dermadry Hyperhidrosis Scholarship.
About the Dermadry Hyperhidrosis Scholarship
Every August, Dermadry encourages students to come forward and share their hyperhidrosis stories by creating a video that explores the impact hyperhidrosis has on their studies and daily life. The scholarship is granted to one student every year to help with the extra costs incurred from being a student who suffers from excessive sweating.
For more information and full contest rules, visit Dermadry's Hyperhidrosis Scholarship page on their website here. Here's to a sweat-free school year.
Dermadry is dedicated to increasing the availability of effective, affordable, and safe treatment to improve the lives of those living with hyperhidrosis worldwide.
For more of the latest news and exclusive content, follow Dermadry on Facebook, Instagram, and TikTok, and subscribe to their newsletter on their website.
Ari Global show with Hollywood actors, worldwide celebrity musicians and stars is coming to Gossip Stone TV on Roku, Amazon Fire TV and Apple+ TV.
August 1, 2022 – Miami – Ari Global, a well-known TV personality who has interviewed more than 300 top celebrities, is producing and stars in her own show on reality TV channel Gossip Stone TV. The Ari Global celebrity interview show features such stars as Jennifer Lopez, Ben Affleck, Matt Damon, Ryan Reynolds, Emma Stone, Eva Longoria, Gerard Butler, Samuel Jackson, Henry Cavill, Shaquille O’Neal, Ruby Rose, and many, many others. “We are so proud that our reality TV channel will feature this incredible show with its many beloved Hollywood actors, singers and other A-list celebrities,” says Victoria Unikel, head of Gossip Stone TV.
Jennifer Lopez interview with Ari Global at Gossip Stone TV
Being a guest and collaborator on networks such as CNN, NBC, ESPN, Telemundo, Hola TV, People en Español, and Univisión, Ari put her knowledge and experience into this reality TV show to make it as educational and entertaining as possible for the viewers of Gossip Stone TV.
Ruby Rose interview with Ari Global at Gossip Stone TV
How are Hollywood movies really made? What funny or difficult situations happened during the filming? These are fun and lively interviews that bring out the human side of the stars’ public personas. Ari has the experience and talent to bring out the real, everyday person that lives inside those stars and make these interviews far more than just another sit-down interview show. They motivate viewers, show them their favorite actors and public persons from a different angle in a more private conversation, all on the reality TV channel Gossip Stone TV.
Gerald Butler interview with Ari Global at Gossip Stone TV
Where else, for example, did you discover the very personal relationship that Emma Stone with her character Estella/Cruella de Ville from the film Cruella? Where have you seen Ben Affleck and Matt Damon, old friends from their pre-stardom days, discuss their work together on The Last Duel together? What are Jennifer Lopez’s private feelings about her character in the film Hustlers? There is another dimension to the stars we see on the big screen, and Ari reveals this to her viewers on Gossip Stone TV.
Amber Heard interview with Ari Global at Gossip Stone TV
The star interview show by Ari Global on Gossip Stone TV also covers the extensive Latin American entertainment scene by featuring top celebrities and projects interviewed in Spanish with English subtitles.
Every episode will feature several star personalities, film breakdowns, as well as an address to the viewers from Ari to introduce the episode and the highlights to watch for.
Eva Longoria interview with Ari Global at Gossip Stone TV
How the stars reached their position, how to become a celebrity yourself, what kind of lives they lead, what interests they have – you can learn all this from the motivational star interviews of Ari Global Show, as well as other celebrity reality shows on Gossip Stone TV. Subscribe to the Gossip Stone reality TV channel and be the first to get the latest news!
SAN DIEGO, California - August 1, 2022 - (Newswire.com)
Following the successful launch of a free trial program to bring the Hybrid Assistive Limb (HAL) technology to patients in San Diego, RISE Healthcare Group will be expanding the free trial program for HAL to patients in the Greater Los Angeles, Orange County, and San Diego regions.
Beginning in Q3 of 2022, free trial sessions of HAL will be available to eligible patients at the following RISE Healthcare Group affiliate locations:
RISE Physical Therapy - Encinitas, CA 613 Westlake Street, Suite 130 Encinitas, CA 92024
RISE Physical Therapy - La Mesa, CA 5360 Jackson Drive, Suite 110 La Mesa, CA 91942
SoCal Elite Physical Therapy - Tustin, CA 111 Fashion Lane, Suite 210 Tustin, CA 92780
Tyler Physical Therapy and Pilates 3810 La Crescenta Avenue, La Crescenta, CA 91214
About HAL HAL, or Hybrid Assistive Limb, is an FDA-approved wearable medical device developed by Cyberdyne Inc. in Japan that uses neural control to support impaired movement. It is designed to help patients with spinal cord injuries, stroke, and other types of neuromuscular disease achieve greater mobility and independence through personalized treatment sessions using their own nerve signals.
About RISE Healthcare Group RISE Healthcare Group (RHG) is a dynamic collection of physical therapy practices and outpatient rehabilitation clinics throughout Southern California. Through their partnership with Cyberdyne, they are the first provider in the United States to combine HAL technology with a unique 1-on-1 approach to physical therapy.
Patients with spinal cord injuries, stroke injuries (acquired or traumatic brain injuries), or progressive neuromuscular disorders (Multiple Sclerosis, Amyotrophic Lateral Sclerosis (ALS), Parkinson's Disease, Muscular Dystrophy, etc.) who are interested in participating in a free, cutting-edge HAL trial program are encouraged to reach out via email ([email protected]) or phone (858-755-5200).
FLORIDA CITY, Fla. - July 28, 2022 - (Newswire.com)
According to news reports, the biopharmaceutical industry is not adequately meeting the demand for consumer access to effective and affordable medicines, which is essential for public health, social equity, and economic development.
In the five years that have passed, it can be presumed that the price disparity has widened. There are savings of about 56% when purchasing medications from a Canadian pharmacy when comparing the global average to American prices. For the USA, MedsEngage provides comparable savings.
Pharmacy prices and formula design help directly bargain pricing with manufacturers and distributors of pharmaceuticals, including speaking on behalf of any pertinent state agency that chooses to take part in the negotiation. MedsEngage provides the power of cheap availability of drugs to every citizen. Generics and biological analog availability also enhance the better pricing for USA consumers when buying from an E-pharma company.
Discounts and Sales offerings at an E-pharmacy are at large. Online medicine purchases also result in financial savings. According to studies, purchasing prescription medications online can result in overall financial savings of up to one-third. Moreover, time savings is one of the E-Pharmacy application's most significant benefits. Customers may simply get medication online and receive prescription medication. Only need to do is use the website to place an order by entering the prescription. There is no need to visit the pharmacy, and there will be no use of standing in lines there. MedsEngage provides the best platform for this practice.
The majority of legitimate retailers who collaborate with E-Pharmacy have a drug checking procedure. These shops ask for a prescription from a private physician, or they offer drug delivery when a patient fills out a questionnaire about their health. Before being disseminated, these surveys are given the doctor's blessing.
A few internet pharmacies provide helpful knowledge on medications and ailments. It offers access to helpful information as well as significant government, university, and medical resources. At MedsEngage, medicines are provided in a way that enables the most affordable prices in the USA with proper description and information.
About the Company:
MedsEngage.com provides the best quality mail order prescriptions to customers. Drugs are sourced from reliable pharmaceutical companies and authorized medicine suppliers, and sold only authentic products of premium quality. None can find a website as safe and secure as MedsEngage that not only helps to order medications quickly but securely too. Easy to navigate the website, and is user-friendly: log in, and don't forget to share prescription for order completion. Medications will be delivered to the doorstep promptly. MedsEngage stick to the utmost safety standards to protect personal information.
For More Information, Connect with MedsEngage at: medsengage.com
Members of the superhero project HEROINES, Victoria Unikel and Aliia Roza, were seen at the exclusive Hard Rock hotel Entertainment Weekly and the Tim Burton-themed Burton Bash event during Comic-Con 2022 in San Diego, California.
After holding the first Heroines Christmas parade event and establishing the superhero project in Florida, the group of two celebs women appeared in the world-famous San Diego Comic-Con, the largest comic convention in the world. This year’s Comic-con saw a record post-Covid audience and was also attended by Keanu Reeves and Dwayne ‘The Rock’ Johnson, who sat on panels to promote their latest projects.
The superhero project Heroines consists of Victoria Unikel (Exorcist) and Aliia Roza (Roza Spy). Aliia Roza made a name for herself in the real world as an undercover agent, fighting drug and human trafficking. Victoria Unikel, also active in the fight against human-trafficking that saw her awarded in 2019 at the Mosaic Gala in New York. Being an anti-communist activist, she established the Exorcist brand in 2007 and has published her debut comic book of the same name on Amazon’s comiXology.
Aliia Roza and Victoria Unikel. photo by Chris Brody
Exorcist and Roza Spy, together known as Heroines, are seeking the publication of the Heroines saga as a graphic novel printed series, the release of an action video game, and a screen version of this superhero story.
Their message, part of their platform of fighting tyranny and evil around the world, is to stop the war in Ukraine that is being waged by Russia, apparently motivated by dark powers that have enveloped the Kremlin and have even released tyranny on its own subjects. Freedom is a universal truth, and it will come to all peoples who have decided to embrace it. Ukraine has broken away from the darkness of its Soviet past and has clearly chosen freedom and self-determination, and will prevail, no matter the cost. The truly American statement and sentiment that was expressed by Thomas Jefferson, that the tree of liberty must be refreshed from time to time with the blood of patriots and tyrants, is nowhere more obvious than in Ukraine. The Heroines’ mission is to unite people together and prevent another World War by reaching their audience through media and print comic book.
Recently, MeituEve teamed up with scientists from Chinese Academy of Sciences to jointly release two major scientific research achievements with regards to "Genome-wide association study of the nasolabial fold identified novel variants related to genes that also affect facial morphology" and "Quantifying facial skin aging signs by deep learning-based algorithm". These were selected for publication in the Society for investigative Dermatology (SID) and the International Society for Biophysics and Imaging of the Skin (ISBS), respectively. Based on its technological partnership with the scientists from Chinese Academy of Sciences, MeituEve has taken skin imaging technology that had previously been applied in the commercial field and has upgraded it for use in highly specialized fields such as genetic research and segmentation algorithms, and has received a high degree of recognition from the scientific community for its accurate AI facial aging quantification technology. MeituEve's skin analysis technology is not just a marketing tool for driving sales conversions, but is also a powerful assistant for verifying dermatological research.
Cutting-edge skin image recognition and grading algorithm technology has helped to find new genes associated with nasolabial folds and 3D facial structures
On May 18-20, the SID held its 80th annual meeting in Portland, Oregon, USA. Since its founding in 1937, the SID has been dedicated to promoting the development related to skin health and disease through education, advocacy, and the exchange of scientific information, bringing together thousands of basic and clinical dermatologists from around the world each year as it has become one of the most authoritative international academic societies in the field of dermatology. During this year's SID conference, the topic researched by MeituEve in partnership with scientists from Chinese Academy of Sciences had the honor of being selected to participate in academic sharing, receiving a high degree of recognition from experts in the field of dermatology.
During the conference, MeituEve leveraged its expertise in deep learning and image analysis to precisely and accurately detect and quantify facial aging. On this basis, MeituEve once again partnered with Dr. Sijia Wang, a principal investigator at the Shanghai Institute of Nutrition and Health of scientists from Chinese Academy of Sciences, to jointly release their research achievements regarding "genome-wide association study of the nasolabial fold identified novel variants related to genes that also affect facial morphology".
In this study, MeituEve used IA technology to break through previous methods of classifying and quantifying nasolabial folds, using a scoring system based on a scale from 0 to 100, to precisely quantify the nasolabial fold phenotypes of 12,980 test subjects; the research team conducted a genome-wide association study (GWAS) to successfully identify genetic loci that are highly associated with nasolabial folds1. According to previously published research, these genetic loci are highly correlated with intermediate facial development morphology2,3.
To better understand the relationship between nasolabial folds and facial morphological structures, the research team also collected and generated 3D data for the faces of the test subjects. It can be seen that the "nose-mouth area" in the middle of the face is more prominent in subjects with severe nasolabial folds (highlighted in red). Also, previous anatomical studies on nasolabial folds enhanced the findings of this study.
In this study, novel genes associated with nasolabial folds were found and a strong relationship between skin aging and 3D facial structures was confirmed through genetic research for the first time. This study also showed that MeituEve has a unique advantage in image recognition and grading algorithms for skin analysis. For the future, the hope is that advanced technology will continue to help with even more of the research and applications related to skin imaging and facial aging.
Skin analysis powered by deep learning algorithms for more specific and accurate quantitative results
In addition, during the 2022 ISBS conference held on June 2-3, the MeituEve research team was invited to give an oral presentation at the conference. ISBS focuses on engineering technology research and development in the field of skin, which includes the development, use, and dissemination of invasive and non-invasive technologies for human skin. It has extensive influence in the fields of dermatological testing, skin care products, and the research and development of medical devices for skin.
The research center of MeituEve and scientists from CAS gave a presentation with the theme of "Quantifying facial skin aging signs by deep learning-based algorithm", conducting a comparative analysis of the effectiveness of skin analysis using deep learning algorithms and conventional methods, and discussing the effectiveness of the application of the two methods in the analysis of skin characteristics.
Back in 2018, MeituEve published a research paper at the ISIC conference, after which its algorithm was cited many times and became highly recognized in the field of computer image recognition. During this study, the Eve Research & Innovation Center (ERIC) improved and advanced its algorithm many times, significantly expanding the detection dimensions and upgrading the fineness of detection based on accurate skin detection, which resulted in a huge improvement in the effectiveness of skin analysis. This study found that the analysis results of MeituEve's algorithm, which is powered by deep learning, represented a significant improvement over conventional skin analysis devices (the blue data in the graphs are MeituEve's analysis results).
In addition, in terms of the fineness, stability, and accuracy of skin analysis, the MeituEve M outperformed commonly-used brand devices in the industry (the chart shows the conventional detection dimensions on the left, while the right is MeituEve's). The technology will lead to more specific and accurate quantitative results in the results in the fields of skin imaging research and analysis service development.
During this year's ISBS conference, the MeituEve research team also gave a detailed introduction of the MeituEve V, the most cutting-edge skin analyzer, to international experts attending the conference. This analyzer uses a unique, high-precision (differences of 0.5mm or less), 3D multi-view registration-type sculpting algorithm, structured light volume displacement tracking, and other technology to intuitively present and quantify soft tissue displacement and changes in facial contours caused by aging. Using deep learning algorithms and advanced 3D analysis technology. In the future, the problem of quantitative skin analysis will be solved more efficiently
1. Zhang. M. , Wu, S. , Du, S. , Qian, W. , Chen, J. , Qiao. L. , Yang, Y. , Tan, J. , Yuan, Z. , Peng, Q. , et al. (2022). Genetic variants underlying differences in facial morphology in East Asian and European populations. Nat Genet 54, 403-411.
2. Huang, Y. , Li, D. , Qiao, L. , Liu, Y. , Peng, Q. , Wu, S. , Zhang, M. , Yang, Y. , Tan, J. , Xu, S. , Et al. (2021). A genome-wide association study of facial morphology identifies novel genetic loci in Han Chinese. J Genet Genomics 48, 198-207.
3. Liu, F. , van der Lijn, F. , Schurmann, C. , Zhu, G. , Chakravarty, M. M. , Hysi, P. G. , Wollstein, A. , Lao, O. , de Bruijne, M., Ikram, M. A. , et al. (2012). A genome-wide association study identifies five loci influencing facial morphology in Europeans. PLoS Genet 8, e1002932.
Whole life insurance covers the policyholder for a lifetime. Plus, it can accumulate cash value, providing a tax-deferred source of wealth. These advantages often make it a great choice for seniors with coverage needs who want their beneficiaries to have added financial security. This article will explore some of the benefits of whole life insurance for seniors and why they should consider getting a policy this summer.
1. Seniors can leave a legacy for their heirs
Whole life insurance can be an excellent financial planning tool. The death benefit of whole life insurance is not taxable when the policyholder dies. The policyholder's beneficiaries receive the total amount tax-free since the death benefit is generally not considered taxable income.
Instead of passing down the cash itself, seniors can use that cash to buy a whole life insurance policy, maximizing the legacy they leave their heirs while minimizing how much the government takes.
2. Seniors can build wealth through cash value
Whole life insurance has a cash value growth component. Part of each premium goes into this component, which then grows tax-deferred at a fixed, guaranteed interest rate. Once the cash value grows large enough, seniors can borrow against it or withdraw from it. Cash value loans don't often have due dates or require credit checks, and they aren't taxable. Plus, policy loans generally come with lower interest rates.
Seniors could use these low-interest loans in various ways, keeping in mind that any amount that is not repaid will reduce the policy's death benefit. If a senior chooses to surrender their policy, they receive the cash value minus any surrender charges. So, even if they cancel their coverage, they may recoup some of the premiums they've paid.
3. Whole life policies provide coverage for a lifetime
Whole life insurance covers the policyholder for a lifetime. This means they don't have to worry about outliving the policy and not getting their premiums back.
4. Whole life insurance can help handle any remaining debts
When someone passes away, their debts will generally move to their estate. That means their heirs will have to use some of the estate's assets to cover the debts, reducing the wealth available to the heirs. By getting a whole life insurance policy, seniors can make sure their heirs have a significant source of funds to pay off any remaining debts and keep more of their estate for productive purposes.
Consider whole life insurance this summer
Whole life insurance can come in handy for many seniors, thanks to its guaranteed lifelong coverage and cash value component. It offers seniors a way to build more wealth and leave a larger legacy for their heirs, helping to create financial security and stability for them.
Seniors may face higher premiums for whole life insurance, but these benefits are worth it for many. That said, seniors should gather multiple quotes from several insurers to find the best rates on the coverage they need.
