thompson-insurance

Your Life Insurance and Its Living Benefits

Wed, 15 Jul 2026 06:00:19 GMT

How Your Policy Can Work for You Right Now

When most people think about life insurance, they picture one thing: a check that goes to their loved ones after they're gone. And that is the main job of a life insurance policy—delivering a meaningful cash benefit to your beneficiaries when you pass away.

Here's what a lot of people don't realize: today's life insurance policies can potentially have even more flexible benefits than that. Depending on your insurance company and the type of policy you own, your coverage can become a financial asset that helps you and your family reach all kinds of goals while you're still alive. These are called living benefits , and they're important to understand.

Let's look at what your policy might be able to do for you.

Cash Value: A Quiet Pool of Money That Grows

If you own a permanent life insurance policy (as opposed to term insurance, which expires), part of what you pay into that policy builds up over time as cash value.

The nice part is that this growth is generally tax-deferred, meaning you don't owe taxes on the gains as long as they stay inside the policy. It works something like a retirement account in that sense—your money grows without the drag of annual taxes.

Over the years, that cash value can become substantial. And unlike most retirement accounts, there's no strict age requirement to access it. That flexibility is what makes it such a useful tool.

Borrowing: Easy Access to Cash When You Need It

Here's a benefit people tend to love once they understand it. You can borrow against your policy, up to its cash value, at a relatively low interest rate—without a credit check, income verification, or lengthy approval process.

The loan doesn't have a fixed repayment schedule, either. You can repay it on your own terms. Interest accumulates on what you borrow, but there's no outside lender pressuring you for monthly payments.

If you're wondering what happens if you never repay it: the outstanding loan balance plus interest is simply deducted from the death benefit when you pass away. Your beneficiaries receive a smaller payout, which is crucial to understand before borrowing. You would only want to consider this option if you are confident in your ability to repay it.

This kind of access—on your schedule, without credit scrutiny—can be valuable in situations like covering a medical expense, bridging a gap in income, or funding a major purchase.

Cash Value: Withdrawals (What You Should Know First)

A withdrawal is exactly what it sounds like: you take money directly out of the cash value and keep it. You simply request it from your insurance company. There's no application or approval process like a loan, because it's your own money. People use withdrawals for all kinds of things: covering an unexpected expense, supplementing income, or freeing up cash for another goal.

A few things are helpful to understand before you do it:

Up to what you've paid in, it's usually tax-free. The total of the premiums you've contributed is called your "basis." You can generally withdraw up to that amount without owing taxes, because the government treats it as getting your own money back. Pull out more than your basis, and the gains on top are typically taxable.
A withdrawal is permanent. Unlike a loan against the policy (which you can repay to restore your cash value), money you withdraw is gone from the policy for good.
It usually shrinks your death benefit. Taking cash out generally reduces the amount your beneficiaries will eventually receive, often dollar-for-dollar. It's a literal trade-off to be weighed.

Dividends: Your Share of the Profits

Certain types of permanent life insurance—particularly whole life policies from mutual insurance companies—pay dividends. Think of it as your share of the company's profits, returned to you as a policyholder.

When dividends are paid, you typically have several options for what to do with them:

Use them to reduce your premium payments
Let them accumulate inside the policy (earning interest)
Purchase additional paid-up coverage, which grows your death benefit and cash value
Withdraw them as cash

The tax treatment is friendly: dividends you withdraw are tax-free, because the government treats them as a return of premiums you already paid.

One honest caveat: dividends aren't guaranteed. Many companies have paid them every single year for generations, but insurers can have an off year. If that happens, a dividend may not come through.

Trading Your Policy for Guaranteed Income

Many people buy life insurance when they're young and raising a family, then reach a stage where they simply don't need the coverage anymore. What they do want is steady, guaranteed income.

The tax code has you covered here. Under Section 1035 of the Internal Revenue Code, you can exchange your permanent life insurance policy for an annuity without triggering capital gains or income taxes on the swap. The same rule lets you exchange one life insurance policy for a different one, tax-free.

It's a way to repurpose an asset you no longer need into one that fits your life today—without a tax bill along the way.

A Flexible Supplement to Your Retirement Income

Some permanent policies can serve as an additional retirement income tool—sometimes called life insurance retirement plans, or LIRPs. Here's how it works in practice:

You contribute to a specially structured policy over your working years, letting the cash value accumulate on a tax-deferred basis. In retirement, you pull money out through policy loans rather than withdrawals. Because loans aren't taxable income, you can create a stream of income that doesn't show up on your tax return—potentially lowering your tax bracket and avoiding triggers like higher Medicare premiums or taxation of Social Security benefits.

This strategy works best when the policy is designed correctly from the start and funded consistently. It's not for everyone, but for people who have maxed out other tax-advantaged accounts, it can be worth exploring.

One thing to note: for the tax advantages to hold, the policy generally can't lapse. Keeping it in force is important, and working with a knowledgeable advisor is essential. The income you generate must come from loans or dividend withdrawals, as covered earlier.

The Bottom Line

Life insurance is, first and foremost, protection for the people you love after you are gone. But a permanent policy can also be a living, working asset—one that builds value, offers easy access to cash, adapts as your needs change, and even helps fund your retirement.

Whether your policy includes all of these features depends on your insurer and the type of coverage you own, so it's worth sitting down with a life insurance professional to understand exactly how permanent life insurance can work for you.

Note: This article is for general educational purposes and isn't personalized financial, tax, or legal advice. Policy features, tax rules, and dividend practices vary by company and can change over time. Before making any decisions, talk with your insurance professional.

Are You Getting Enough Nutrients on GLP-1 Medication?

Wed, 08 Jul 2026 06:00:18 GMT

What the Latest Research Says About GLP-1s, Nutrition Gaps, and Getting Enough of What Matters

If you're using a popular GLP-1 medication like Ozempic, Zepbound or W egovy for weight loss, it's important to be mindful of your nutrition, because you're probably eating significantly less than you used to. A recent review found that total caloric intake dropped by 16% to 39% in patients taking a GLP-1.

These medications help you feel full faster, so you eat less, which can lead to significant weight loss. But that same reduced appetite has a downside: it can mean you aren't taking in enough of the essential nutrients your body needs to stay healthy.

Some people taking GLP-1 medications say they don't feel hungry, skip eating for most of the day, or have just one large meal in the evening. And plenty of people on these drugs never change the kind of food they eat — they simply eat smaller amounts of the same less-healthy choices. The result is fewer calories and less variety, which is a recipe for missing key nutrients.

What the Latest Research Shows

This isn't just anecdotal. A narrative review published in Clinical Obesity in early 2026 pooled six studies covering more than 480,000 adults with diabetes, obesity, or both who were taking GLP-1 drugs. The researchers concluded that nutritional deficiencies should be considered "a common consequence" of GLP-1 therapy, and that doctors should monitor patients accordingly.

A few highlights from that research:

Vitamin D deficiency was the most common problem, affecting about 13.6% of participants after 12 months of treatment in the largest study.
Iron deficiency (around 3.2%) and B vitamin deficiency (around 2.6%) also showed up, along with anemia tied to poor nutrition (about 4%).
Deficiencies tended to worsen the longer people stayed on treatment — more were diagnosed at 12 months than at 6 months.
In a smaller study that tracked detailed food diaries, the gaps were striking: many participants fell short on calcium, nearly two-thirds didn't get enough iron, and almost none met the recommendation for vitamin D.

It's worth noting these findings come largely from observational data, so they show a strong association rather than ironclad proof of cause and effect. Still, the pattern is consistent enough that nutrition deserves real attention while you're on these medications.

What Happens When You Don't Get Enough

Falling short on nutrients can show up in ways that are easy to write off as "just part of losing weight," but shouldn't be ignored:

Fatigue and dizziness — often linked to low iron, low calorie intake, or not drinking enough fluids.
Muscle loss — too little protein can lead to a progressive loss of muscle mass and strength. This is a real concern on GLP-1s, since rapid weight loss can include muscle, not just fat.
Digestive issues like constipation — frequently a sign of too little fiber and water.
Hair and skin problems — a common downstream effect of overall undernutrition.

What to Eat and Drink for Balanced Nutrition

Even when your appetite is low, the right food choices go a long way toward preventing these problems. The key is quality over quantity: with fewer bites to work with, each one should count. Aim to build meals around protein, healthy fats, whole grains, and plenty of fruits and vegetables.

Protein

Lean meats (chicken, turkey)
Fish and seafood
Eggs
Plant-based proteins like beans, lentils, tofu and soy products
Low-fat dairy (yogurt, milk, cheese)

Fiber

Whole grains (oats, quinoa, brown rice)
Vegetables (broccoli, carrots, spinach, kale)
Fruits (apples, oranges, berries)
Nuts, seeds and legumes

Healthy fats

Avocados
Nuts and seeds
Olive oil and other plant-based oils
Fatty fish (salmon, tuna, mackerel)

Hydration

Water (aim for 8–10 glasses a day)
Low-calorie drinks (herbal tea, unsweetened beverages)
Nutrient-dense drinks like low-fat milk or soy milk
Limit sugary sodas, excess caffeine, and alcohol

Additional Tips for Staying Healthy

Listen to your body. Fatigue, muscle loss, or constipation can all be signs that you're not getting enough nutrients or fluids.
Don't skip meals entirely. Going without food all day can lead to malnutrition over time, even if you're not hungry.
Consider meal replacement shakes or bars if your appetite is very low — they can help you hit your protein and vitamin targets when whole meals feel like too much.
Add a daily multivitamin and supplements if your doctor recommends it. Given how often vitamin D, iron, and B vitamins come up in the research, this is a reasonable conversation to have.
Keep moving. Light to moderate exercise — especially walking and resistance training — helps preserve muscle and enhances the benefits of the medication.
Ask about bloodwork. If you've been on a GLP-1 for several months, periodic lab checks can catch a developing deficiency before it causes symptoms.

GLP-1 medications can be a powerful tool for weight loss and metabolic health. Getting the nutrition piece right is what helps you feel strong and energized along the way — not just lighter on the scale.

How to Have a Safe Fourth of July Celebration

Mon, 29 Jun 2026 13:48:27 GMT

Simple Safety Tips to Help Protect Your Family, Friends, and Property During Your Fourth of July Festivities

Fourth of July is one of America's favorite holidays and it's a time to enjoy Independence Day with your family and friends.

Unfortunately, every year more than 11,000 people are sent to the emergency room for fireworks-related injuries, and in a typical year about eight to 10 people are killed by fireworks.

On top of that, fourth of July fireworks start an average of 18,500 fires every year, including 1,300 structure fires, 300 vehicle fires, and 16,900 outside fires, according to the National Fire Protection Association.

But you can take steps to protect your family and your property so that you don't have to be one of those statistics. It all comes down to common sense and respecting the power of the fireworks.

Mind the Sparklers

Usually these are known as "kiddie" fireworks, but you may be surprised to know that they cause one-quarter of the house fires and emergency room fireworks injuries on Fourth of July.

Sparklers are best handled by people aged 12 and older. Children younger than 12 require extreme supervision.
Everyone handling sparklers should wear closed-toe shoes, and not flip-flops or sandals, to protect their feet from sparks.
Keep a bucket of water to place sparklers in after they finish sparkling; they are still hot and dangerous.

Adult Supervision

Always have an adult vigilantly supervise fireworks activities and never allow children to play with or ignite fireworks.

Keep a Safe Distance from Your Home

If you are going to use fireworks at home, be sure you're lighting them in a safe area. A “safe area” means away from homes, buildings, trees, and bushes.

If your gutters have accumulated leaves, pine needles, or other flammable material, clean them before using fireworks near your home. If you're leaving town for the holiday, ask a neighbor to keep an eye on your house.

Be Prepared for the Worst

If you set off fireworks, keep a bucket of water handy in case of malfunction or fire. A fire extinguisher should be kept nearby in case of an emergency, especially if you are lighting fireworks on your street.

Follow Instructions

Always follow instructions for lighting fireworks. If fireworks malfunction, don't relight them! Douse and soak them with water, then throw them away. Also, never ignite fireworks in a container, especially one that is glass or metal.

Stay Away from Others

Don't aim fireworks at other people. They can cause severe injury.

By taking a few simple precautions and using common sense, you can enjoy a fun, memorable, and safe Fourth of July while helping protect your loved ones, your neighbors, and your property.

How to Cover Your Expenses If You’re Sidelined by a Serious Illness

Wed, 27 May 2026 06:00:04 GMT

Is Critical Illness Insurance Right for You?

A serious illness can turn your life upside down in more ways than one.

While your health insurance may help cover ma ny of your medical expenses, it typically doesn’t replace your income, or cover the everyday bills that keep your household running. Think about your mortgage/rent, car payments, utilities, groceries, credit cards…. when you’re unable to work, those expenses don’t pause.

Even worse, stressing about these costs isn’t a good way to speed up your recovery.

So how do you bridge that financial gap?

A Financial Safety Net: Critical Illness Insurance

One option many people overlook is critical illness insurance —a type of coverage designed to provide financial support when you are struggling with health issues.

If you’re diagnosed with a qualifying serious condition, a critical illness policy can provide a lump-sum cash benefit that could make a meaningful difference while you are trying to recover.

Unlike some other types of coverage, this money is typically flexible. You can use it for whatever makes the most sense for your situation, such as:

Household bills (mortgage, rent, utilities)
Out-of-pocket medical costs like deductibles or copays
Transportation or caregiving expenses
Everyday living expenses while you recover

This flexibility can be especially helpful during a time when your focus should be on healing, rather than finances.

What Conditions Are Typically Covered?

Coverage varies by policy, but most plans focus on serious health events such as:

Heart attack or stroke
Cancer
Organ damage

Some policies may also cover additional conditions, including:

ALS (Lou Gehrig’s disease)
Blindness or deafness
Paralysis
Severe burns
Coma
Lupus or cystic fibrosis

Because coverage can differ significantly, it’s important to review the details of any policy carefully.

How It Compares to Disability Insurance

You may be wondering how critical illness insurance compares to disability insurance.

Both can help protect your finances if your health prevents you from working—but they work differently:

Disability insurance typically replaces a portion of your income over time if you’re unable to work.
Critical illness insurance provides a lump-sum payment after a qualifying diagnosis.

Critical illness coverage is often more affordable, though it generally provides a smaller total benefit compared to long-term disability insurance.

For some individuals, the two types of coverage can complement each other.

What Does It Cost?

One of the reasons critical illness insurance is gaining attention is affordability.

While premiums vary based on age, health, and coverage amount, many plans are relatively budget-friendly. For example, some plans cost as little as $10/month for $10,000 in coverage, and $20–$50/month for $50,000 in coverage.

These benefits can make a meaningful difference, especially for those with high-deductible health plans or limited emergency savings.

Important Things to Consider

Before choosing a policy, keep a few key points in mind:

1. Covered Conditions Vary

Some policies only cover cancer, while others include a broader range of illnesses.

2. Waiting Periods May Apply

Most policies have a waiting period (often 30–90 days) before benefits are payable.

3. Pre-Existing Conditions May Not Be Covered

If you’ve already been diagnosed with a condition, it typically won’t qualify for immediate coverage.

4. Coverage Limits Exist

Many policies cap benefits (often around $50,000, though higher limits may be available).

Is It Right for You?

Critical illness insurance isn’t one-size-fits-all, but it can be a valuable addition to your financial protection strategy. It may be worth considering if covering expenses during time off work would be challenging or if you want added financial flexibility during recovery.

Mental Health and Medicare

Wed, 20 May 2026 06:00:02 GMT

Understanding Your Coverage and Resources

May is Mental Health Awareness Month, and this is a crucial time to recognize that mental health is just as important as physical health, especially as we age. You may not be aware that Medicare provides coverage for a wide range of mental health services, helping you or your loved ones access the care and support they need.

Mental Health Coverage Under Medicare

Medicare covers both inpatient and outpatient mental health and substance recovery services, depending on your needs.

Medicare Part A (Hospital Insurance) covers mental health care if you are admitted to a hospital, including psychiatric hospitals. This includes room, meals, nursing care, and medications during your stay.
Medicare Part B (Medical Insurance) covers outpatient services such as therapy, counseling, and visits with mental health professionals. This includes services provided in a doctor’s office, clinic, or hospital outpatient setting.
Medicare Part D (Prescription Drug Insurance) covers prescription drugs, including many that are prescribed for mental health purposes.

Together, these parts help ensure access to care across different levels of need, from routine counseling to prescription medications for mental health to more intensive treatment.

What Services Are Covered?

Medicare beneficiaries have access to a variety of mental health resources, including:

Individual and group therapy
Psychiatric evaluations and diagnostic testing
Annual depression screenings
Substance use disorder treatment and counseling
Prescription medications and medication management
Partial hospitalization and intensive outpatient programs

Medicare also covers telehealth services, in many cases, making it easier to connect with providers from the privacy of your home.

Who Can Provide Care?

Medicare covers services from a range of licensed professionals, including:

Psychiatrists and psychologists
Clinical social workers
Primary care physicians, nurse practitioners, and physician assistants
(More recently) Licensed mental health counselors and marriage/family therapists

It’s important to confirm that your provider accepts Medicare to help keep costs manageable.

What Will You Pay?

While Medicare helps cover many mental health services, there are still some out-of-pocket costs:

For most outpatient services, you typically pay 20% of the Medicare-approved amount after meeting your Part B deductible.
Inpatient costs vary depending on the length of stay and facility type.

If you have a Medigap plan or Medicare Advantage plan, these costs may be less.

Why Mental Health Care Matters

Mental health challenges such as depression, anxiety, and loneliness can profoundly affect older adults, sometimes going unnoticed or untreated. Access to counseling, therapy, support services, and medication management can make a meaningful difference in overall well-being, quality of life, and even physical health.

How to Take the First Step

If you or a loved one may benefit from mental health support, consider starting with:

A conversation with your primary care provider
Your annual Medicare wellness visit
A covered depression screening

It’s most important to understand that mental health support is not a sign of weakness; It’s another important aspect of staying healthy and taking good care of yourself.

During Mental Health Awareness Month, check in on your emotional well-being. Help is available, and Medicare can be an important part of accessing it.

It’s Graduation Season: Preparing for Life as an Empty Nester

Wed, 13 May 2026 06:00:14 GMT

Navigating the emotions and opportunities of life after your child leaves home

Graduation season is filled with pride, excitement, and, for many parents, a surprising emotional shift. After years of busy schedules, school events, and daily routines centered around your children, the house can suddenly feel very quiet. Becoming an “empty nester” is a major life transition, and it’s completely normal to feel a mix of emotions and new stresses as this new chapter begins.

What You Might Be Feeling

Empty nesters often experience a wide range of emotions, sometimes all at once:

Pride and excitement: You’ve helped raise a young adult ready to take on the world. That’s no small accomplishment.

Sadness or loss: The absence of daily interaction can feel like a real loss, especially in the early weeks.

Uncertainty: Without the structure of parenting responsibilities, some people wonder, What’s next for me?

Relief or newfound freedom: For some, there’s also a sense of lightness—more time, fewer obligations, and space to focus on personal goals.

All of these feelings are valid, and you might experience all of them at different times. There’s no “right” way to experience this transition.

Healthy Ways to Adjust

The shift to an empty nest doesn’t mean losing purpose—it means redefining it. Here are a few ways to ease the transition:

Reconnect with yourself
Think about interests or hobbies you may have set aside. This is a great time to revisit them, or discover new ones.

Strengthen relationships
Whether it’s your spouse, friends, or extended family, invest time in the relationships that may have taken a back seat. Make the lunch date, organize a happy hour, or call the person you haven’t talked to in far too long.

Create new routines
Daily life will look different now. Building new routines can help restore a sense of structure and normalcy, and also fill the gaps in your time that the busyness of parenting used to fill.

Focus on personal goals
Would you like to spend more time on travel, career growth, volunteering, or fitness? This stage of life offers flexibility to pursue what matters to you.

Stay connected (but balanced)
Regular check-ins with your child are important and perfectly fine, but giving them space to grow independently is equally valuable. This is a time to build new patterns and routines in your relationship.

Help Your Child Launch with Confidence

As your child steps into their next phase — whether it’s college, a job, or another path — your role shifts from daily caregiver to steady supporter.

Encourage independence
Let them make decisions, solve problems, and build confidence in their own abilities.

Be their safety net, not their roadmap
Offer guidance when it’s appropriate, but allow them to navigate their own journey.

Keep communication open
Make it clear you’re always available to talk, without pressure or expectations.

Celebrate their growth
Show genuine enthusiasm for their new experiences. It reinforces that you support their journey, and have faith in the path they are taking.

Make Home a Place They Can Return To

While it’s important to support your child’s independence, it’s equally important they know they still have a place to land.

Reassure them they’re always welcome. Whether it’s for holidays, visits, or unexpected life changes, knowing they can come home provides comfort and security. This will help them feel brave as they assess new challenges and opportunities.

A New Beginning for Both of You

Becoming an empty nester isn’t an ending, it’s a transition. This is a new phase of life for both you and your child. While it can feel emotional at first, it also opens the door to new opportunities, deeper relationships, and personal growth.

You’ve spent years helping your child prepare for this moment. Now it’s your turn to embrace what comes next.

Medicare Expands Diabetes Prevention Program with Virtual Access

Wed, 06 May 2026 04:48:42 GMT

New legislation makes diabetes prevention more accessible for seniors through virtual participation and expanded eligibility

Medicare beneficiaries at risk for d eveloping Type 2 diabetes will soon have easier access to prevention services, thanks to changes in the Consolidated Appropriations Act of 2026.

The legislation expands the Medicare Diabetes Prevention Program (MDPP) by extending the ability through 2029 for participants to join virtually and removing the previous one-time lifetime limit. These updates are intended to make the program more accessible, especially for seniors who face mobility challenges, transportation barriers, or other health issues that make in-person attendance difficult.

Under the new law, virtual diabetes prevention programs recognized by the Centers for Disease Control and Prevention (CDC) can participate in the MDPP on a trial basis through the end of 2029. The Centers for Medicare and Medicaid Services (CMS) has also updated its rules to allow digital health providers to be reimbursed for offering the program online.

The need for expanded access is significant. Some sources estimate that almost half of adults age 65 and older have prediabetes, and millions of Medicare beneficiaries already have diabetes. Preventing or delaying the disease can lower the risk of serious complications such as heart disease, kidney failure, and vision loss.

Despite its potential benefits, participation in the program has been extremely low—just 4,850 total enrollees to date. According to medical trade associations, limited access to in-person programs, particularly in rural areas and small towns, has kept many eligible individuals from enrolling. Allowing virtual access removes that barrier and may make the program more accessible for people over 65.

Another important change removes the restriction that limited participants to participating in the program only once. Beneficiaries who need additional support in the future will now be able to enroll again.

Seniors can still choose to attend the program in person if they prefer, but the addition of a virtual option may significantly broaden participation.

How the MDPP program works

The MDPP is a structured lifestyle program designed to help people with prediabetes reduce their risk of developing Type 2 diabetes. It is covered under Medicare Part B for eligible beneficiaries who have not been diagnosed with type 1 or type 2 diabetes or End-Stage Renal Disease (ESRD), and who meet certain medical criteria related to body mass index (BMI) and blood sugar levels.

Key features of the program include:

The program typically lasts 12 months.
Participants attend 16 weekly sessions during the first six months.
After the initial phase, participants attend six monthly maintenance sessions.
Sessions are led by trained lifestyle coaches who teach strategies for healthy eating, physical activity and weight management.
Participants aim to lose about 5% of their body weight through healthier habits.
Coaches help participants monitor their weight and activity levels.
In-person and live online sessions are conducted in groups, allowing participants to share challenges and encouragement. Participants may also choose to participate virtually through non-live online sessions as an individual.

A doctor must confirm that a patient meets the clinical criteria before enrolling.

For more information about MDPP, visit Medicare.gov

Why seniors should consider enrolling

Type 2 diabetes is one of the most common chronic conditions affecting older Americans, but in many cases, it can be prevented or delayed through lifestyle changes.

The new virtual option means many seniors can now participate from home using a computer, tablet or smartphone. For those with limited mobility, caregiving responsibilities or transportation challenges, that convenience could make the difference between enrolling and not enrolling.

If you have prediabetes or are at risk for developing diabetes, talk with your doctor about whether you qualify for the MDPP.