Death and taxes are inevitable, but universal life insurance helps you deal with both. With a universal life insurance plan, you get the coverage of life insurance along with a tax-deferred savings that grows over time.
Why is Universal Life Insurance so important? Because life is unpredictable. You could live into your 90's or you could die tomorrow. Nobody has the luxury of knowing when the inevitable will occur. The only way to guarantee your family's financial security is to be ready for anything.
Universal life insurance does just that. If death occurs, your policy will help deal with the aftermath. If it doesn't, you'll have savings to fall back on during retirement or hard times. If you become ill or disabled, you never have to worry about your insurability. With universal life insurance, you and your family are protected no matter what happens.
Wednesday, May 12, 2010
Saturday, May 8, 2010
Why Term Life Insurance?
Death is the worst emotional loss a family can suffer. All too often, the financial hardship that follows can make that burden seem unbearable. Term life insurance pays your family a cash benefit in the event of your death.
Why is Term Life Insurance so important? Because your family depends on you. What would happen if you died tomorrow? Could they pay the bills? Could they afford the funeral expenses? Without your support, how would they get by?
It's not a pleasant subject, but death is often unexpected. Planning ahead is the only way to protect your family from hardship if the unmentionable should occur. More importantly, it's a way of showing your love and support during their most difficult transition.
Why is Term Life Insurance so important? Because your family depends on you. What would happen if you died tomorrow? Could they pay the bills? Could they afford the funeral expenses? Without your support, how would they get by?
It's not a pleasant subject, but death is often unexpected. Planning ahead is the only way to protect your family from hardship if the unmentionable should occur. More importantly, it's a way of showing your love and support during their most difficult transition.
Friday, April 30, 2010
Final Expense Policies
According to the National Funeral Directors Association, the average cost of a funeral in 2006 was $7,323. And, this cost does not include the cemetery plot, monument, flowers, obituary or other cash expenses, which could push the cost well over $10,000.
Why burden your family with these costs at a time when they already have many other concerns? You can help reduce the worry your family will experience when you die by putting the money in place, so that it’s available when they need it most.
Do you have thie coverage in place? How about your parents?
Why burden your family with these costs at a time when they already have many other concerns? You can help reduce the worry your family will experience when you die by putting the money in place, so that it’s available when they need it most.
Do you have thie coverage in place? How about your parents?
Tuesday, April 27, 2010
Features every Mortgage Protection Policy should contain
1. Choice of Beneficiary: You decide who receives the tax-free proceeds from the program in the event of death. At such time, the beneficiary has several options. Three of which are:
• Pay off the mortgage in one lump sum;
• Invest the benefit and continue to make payments;
• Use the proceeds to relocate to a different home.
Most other programs pay the tax-free directly to the bank – your beneficiary has no control.
2. Portable: If you sell your home and buy another, or refinance your present home, this plan can simply move with you to continue to protect your next mortgage. This means regardless of how many times you move, you will never need to qualify for another plan or risk losing the one that you have. Most other programs will terminate – your beneficiary has no control.
3. Death Benefit Remains Level: The death benefit remains level for the length of your mortgage. With most plans, benefits decrease each year while the premium remains the same. If someone tries to sell you these decreasing term or credit life programs, ask them why the premium doesn’t decrease along with the death benefit – they won’t be able to answer that question.
4. Money Back Option – With the optional Money Back Rider, you can receive a refund of all your premiums at the end of your policy term.
5. Premium Is Planned Level For The Entire Term: The premium is planned level for the term of the coverage – many programs will increase their premiums every year or every five years – called Annual Renewable Term, popular with most of the big name companies out there.
6. Death Benefit Paid For Any Cause of Death: Death benefits should be paid regardless of cause of death – even suicide after the policy remains in force for two years. Many programs out there will pay only for an accidental cause of death – highly unlikely statistically for an adult, which is why those programs are so cheap.
7. No Act Of War Exclusions For The Death Benefit: Death benefits should be paid even if death occurs due to an act of war – declared or undeclared (terrorist attack). Many programs out there have this act of war exclusion built into their policy in fine print.
8. A.M. Best Grade of A- or above. Insurance carriers should independently be chosen the best program for you based on your needs, health profile, underwriting opportunity and budget.
• Pay off the mortgage in one lump sum;
• Invest the benefit and continue to make payments;
• Use the proceeds to relocate to a different home.
Most other programs pay the tax-free directly to the bank – your beneficiary has no control.
2. Portable: If you sell your home and buy another, or refinance your present home, this plan can simply move with you to continue to protect your next mortgage. This means regardless of how many times you move, you will never need to qualify for another plan or risk losing the one that you have. Most other programs will terminate – your beneficiary has no control.
3. Death Benefit Remains Level: The death benefit remains level for the length of your mortgage. With most plans, benefits decrease each year while the premium remains the same. If someone tries to sell you these decreasing term or credit life programs, ask them why the premium doesn’t decrease along with the death benefit – they won’t be able to answer that question.
4. Money Back Option – With the optional Money Back Rider, you can receive a refund of all your premiums at the end of your policy term.
5. Premium Is Planned Level For The Entire Term: The premium is planned level for the term of the coverage – many programs will increase their premiums every year or every five years – called Annual Renewable Term, popular with most of the big name companies out there.
6. Death Benefit Paid For Any Cause of Death: Death benefits should be paid regardless of cause of death – even suicide after the policy remains in force for two years. Many programs out there will pay only for an accidental cause of death – highly unlikely statistically for an adult, which is why those programs are so cheap.
7. No Act Of War Exclusions For The Death Benefit: Death benefits should be paid even if death occurs due to an act of war – declared or undeclared (terrorist attack). Many programs out there have this act of war exclusion built into their policy in fine print.
8. A.M. Best Grade of A- or above. Insurance carriers should independently be chosen the best program for you based on your needs, health profile, underwriting opportunity and budget.
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