The fact is that everyone is going to die one day. The most important fact is that we do not know when this will happen. So many people have been meaning to buy life insurance but never get around to it.
It is so sad when I recently received a call from a son who wanted to know if his father every purchased insurance from me because he had just passed away. The son explained that he found my flyer among his father’s paperwork. I sadly had to let the son know that no his father did not buy life insurance. His son explained that he was not sure how he was going to pay for his father’s funeral and was hoping that he did buy the life insurance.
This is only one example of so many people who wanted to buy life insurance but just never got around to purchasing it. There was a young couple that I had spoken to briefly about life insurance and how it would be imperative for them to buy insurance since they were young and healthy. They agreed but put it off. I received a call from the wife and she explained that her husband was recently diagnosed with lung cancer. She wanted to buy insurance for her family. I had to explain to her that it was not possible. Life insurer would not offer life insurance to someone who is undergoing treatment for lung cancer.
I want you all to remember that you should purchase insurance when you do not need it because it may be too late to purchase it when you truly do need it!
Wednesday, March 24, 2010
Monday, January 4, 2010
Why Health Changes Can Immediately Affect Life Insurance
Everyone knows that health plays an important role in obtaining health insurance but never “get around” to actually buying an insurance policy. There are so many stories about people who knew that they needed life insurance to protect their family and “planned” on meeting with an insurance agent to get coverage only to have been diagnosed with cancer, heart disease, or other chronic diseases.
Usually it is too late to obtain insurance when a patient has been diagnosed a chronic disease. People must keep in mind that you should purchase insurance when you feel that you do not need it because you are in good health. It is most often a terrible fact that when you do need the insurance because you have been diagnosed with one of these diseases that you will be denied for insurance.
This is why I encourage people to take action. Do not “plan” but “do” because tomorrow it could be too late. There are so many sad stories about people who could have coverage one week ago because they appeared to be in perfect health cannot get coverage because their doctor had found a devastating or debilitating disease. As a result, their family not only will be left with unpaid medical bills but they will not have a replacement income.
So you know you need insurance but do not know where to begin? Contact an independent life insurance agent that will be able to compare plans and help you purchase a plan that will fit your needs today!
Usually it is too late to obtain insurance when a patient has been diagnosed a chronic disease. People must keep in mind that you should purchase insurance when you feel that you do not need it because you are in good health. It is most often a terrible fact that when you do need the insurance because you have been diagnosed with one of these diseases that you will be denied for insurance.
This is why I encourage people to take action. Do not “plan” but “do” because tomorrow it could be too late. There are so many sad stories about people who could have coverage one week ago because they appeared to be in perfect health cannot get coverage because their doctor had found a devastating or debilitating disease. As a result, their family not only will be left with unpaid medical bills but they will not have a replacement income.
So you know you need insurance but do not know where to begin? Contact an independent life insurance agent that will be able to compare plans and help you purchase a plan that will fit your needs today!
Tuesday, November 24, 2009
MA Life Insurance For the Holidays
When you are sitting around the table I want you all to look around your table and ask yourself how your family will survive financially if you do not have life insurance. Everyone knows how terrible the economy is but how much worse can it get if you pass away and your family no longer has your income to help support them? If things are already “tight” economically can you honestly imagine your family living with the same life style without your income? What will they have to sacrifice to make ends meet?
I want you to take look at your families overall financial picture and figure out how much they will need to maintain the same life style. What bills must be paid off in full? How much will they need for your funeral (average funerals cost at least $10,000).
Now that you have reviewed your overall financial picture it is now time to take action! You can search for a trusted life insurance agent or contact me to find out what steps you need to make to cover you family now! What ifs will not pay for your mortgage, your kid’s private school, college education, and every day bills. I encourage you to take action now or prior to the end of the year to cover your family. No one knows when they will pass away so it is best to get this situation taken care of immediately.
Again, you think that things are tough imagine if you do not get the coverage that you need in time. Just think of how much tougher and how much “tighter” things will become without your income and a life insurance policy to help your family out.
I want you to take look at your families overall financial picture and figure out how much they will need to maintain the same life style. What bills must be paid off in full? How much will they need for your funeral (average funerals cost at least $10,000).
Now that you have reviewed your overall financial picture it is now time to take action! You can search for a trusted life insurance agent or contact me to find out what steps you need to make to cover you family now! What ifs will not pay for your mortgage, your kid’s private school, college education, and every day bills. I encourage you to take action now or prior to the end of the year to cover your family. No one knows when they will pass away so it is best to get this situation taken care of immediately.
Again, you think that things are tough imagine if you do not get the coverage that you need in time. Just think of how much tougher and how much “tighter” things will become without your income and a life insurance policy to help your family out.
Tuesday, October 13, 2009
Death Can Happen At Anytime
Many people feel that they do not need life insurance because not only are they young but they are very healthy. Unfortunately, no one knows what tomorrow may bring that is why it is so important to purchase life insurance when you have a chance.
Many people feel that they will someday get around to purchasing life insurance for their family but an accident happens, their health suddenly spirals downward, or they pass away without getting a chance to protect their families. Many people with families need to understand that “going to and should have’s” will not replace their income when they are gone. Many people need to understand that life is uncertain and that it is best to plan for these uncertainties because they are not in control of these unfortunate circumstances.
You have to ask yourself if I were to pass away at this very second what financial condition my family would be in? Would they be able to successful carry on the lifestyle that they are used to having when I was alive? Will your family be in debt if they have to bury you? Will your children be able to attend college? How will your family manage truthfully without you? If you answered negatively to any of these questions then it is definitely time for you to take the leap and purchase insurance so that you do not leave your family in a financial crisis.
They key to protecting your family now is to act now. Of course, do your due diligence and investigate the prices of premiums and what type of insurance best fit your needs. Once you answer these questions do not delay, get your life insurance application in immediately so that you can protect your family.
Many people feel that they will someday get around to purchasing life insurance for their family but an accident happens, their health suddenly spirals downward, or they pass away without getting a chance to protect their families. Many people with families need to understand that “going to and should have’s” will not replace their income when they are gone. Many people need to understand that life is uncertain and that it is best to plan for these uncertainties because they are not in control of these unfortunate circumstances.
You have to ask yourself if I were to pass away at this very second what financial condition my family would be in? Would they be able to successful carry on the lifestyle that they are used to having when I was alive? Will your family be in debt if they have to bury you? Will your children be able to attend college? How will your family manage truthfully without you? If you answered negatively to any of these questions then it is definitely time for you to take the leap and purchase insurance so that you do not leave your family in a financial crisis.
They key to protecting your family now is to act now. Of course, do your due diligence and investigate the prices of premiums and what type of insurance best fit your needs. Once you answer these questions do not delay, get your life insurance application in immediately so that you can protect your family.
Tuesday, September 29, 2009
Benefits of Using Life Insurance as an Investment
Many people use life insurance as a way to pay for their funerals and to pay off debts but they are not aware of the many benefits of using whole life insurance as an investment. With the current state of the economy and the collapse of Wall Street more people are looking for ways to keep their money safe.
Whole life insurance is one of the safest ways to keep your money safe. Whole life insurance is permanent insurance that will provide life insurance coverage throughout a person’s life. The premiums and death benefit of a whole life insurance policy remain fixed throughout the life of the policy. A portion of the premium is paid into a savings account and builds cash value. The insurance companies usually guarantee a minimum rate of return on the cash value portion of the insurance policy. In addition, most life insurance companies pay dividends toward the cash value portion of a policy. The dividends are considered rebates of insurance premiums according to the IRS and are not taxable. The only instance where dividends would become taxable is if the dividend amount exceeds the total amount the policy holder paid in premiums for the life of the policy. This instance is extremely rare. Dividends can also be used as “paid up additions” which provide additional paid whole life insurance policies in the amount of the dividends owed to the insurance policy owner. Cash value can be borrowed against when the policy accrues enough savings.
In closing, many people are looking towards purchasing Whole life insurance as an investment because it will keep their money safe along with the guaranteed rate of return that is offered. Many people do not want to speculate anymore in the stock market and instead want to preserve their wealth. Whole life insurance can help these people safely invest their money.
Whole life insurance is one of the safest ways to keep your money safe. Whole life insurance is permanent insurance that will provide life insurance coverage throughout a person’s life. The premiums and death benefit of a whole life insurance policy remain fixed throughout the life of the policy. A portion of the premium is paid into a savings account and builds cash value. The insurance companies usually guarantee a minimum rate of return on the cash value portion of the insurance policy. In addition, most life insurance companies pay dividends toward the cash value portion of a policy. The dividends are considered rebates of insurance premiums according to the IRS and are not taxable. The only instance where dividends would become taxable is if the dividend amount exceeds the total amount the policy holder paid in premiums for the life of the policy. This instance is extremely rare. Dividends can also be used as “paid up additions” which provide additional paid whole life insurance policies in the amount of the dividends owed to the insurance policy owner. Cash value can be borrowed against when the policy accrues enough savings.
In closing, many people are looking towards purchasing Whole life insurance as an investment because it will keep their money safe along with the guaranteed rate of return that is offered. Many people do not want to speculate anymore in the stock market and instead want to preserve their wealth. Whole life insurance can help these people safely invest their money.
Wednesday, September 23, 2009
How Much Will Social Security Pay For Your Funeral and Why MA Life Insurance is important?
Many people mistakenly think that they will depend on Social Security to pay for their funerals but do not realize that Social Security only pays $255 towards their funeral. If you are a veteran VA will pay up to $1,500 towards your funeral. With the average funeral costing $6,500 it is important to have a plan in place to pay for your funeral so that your family members are not burdened with this expense.
Many people depend on their savings to pay for their funerals but do not realize that usually the last six months of their lives are extremely expensive due to healthcare, medications, and other bills that they may incur. Unfortunately, their savings can sometimes be wiped out at this time. Final expense life insurance was designed to pay for your funeral expense during this time of need. In many cases these payments are paid to the beneficiary within 24 hours after the funeral services are performed. Even if someone has traditional life insurance, final expense insurance may come in handy because traditional life insurance will not pay the beneficiary until the death certificate and other important documents have been received. This can take several months to settle a claim and can cause unnecessary fees and charges on the unpaid funeral balances. It is important to have a plan in place because no one knows when it will be time for them to pass away. Plan for the future so that your family members are not financially burdened during their time of grief.
Many people depend on their savings to pay for their funerals but do not realize that usually the last six months of their lives are extremely expensive due to healthcare, medications, and other bills that they may incur. Unfortunately, their savings can sometimes be wiped out at this time. Final expense life insurance was designed to pay for your funeral expense during this time of need. In many cases these payments are paid to the beneficiary within 24 hours after the funeral services are performed. Even if someone has traditional life insurance, final expense insurance may come in handy because traditional life insurance will not pay the beneficiary until the death certificate and other important documents have been received. This can take several months to settle a claim and can cause unnecessary fees and charges on the unpaid funeral balances. It is important to have a plan in place because no one knows when it will be time for them to pass away. Plan for the future so that your family members are not financially burdened during their time of grief.
Thursday, September 3, 2009
How to Receive MA Life Insurance Benefits Tax Free
Most people are not aware that when they purchase a life insurance policy to protect their loved ones in most cases the proceeds will be tax free. This is especially true for Term Life insurance policies. All of the life insurance benefits that are distributed tax free.
Term life insurance benefits are tax free because you will not accrue any cash value with this type of policy. If you purchase a whole life, universal or variable life insurance policy there are some restrictions. For instance, any amount of money that you contributed, gained interest on, or invested that is more than the death benefit will be taxed. So let’s say that your beneficiary received $150,000 in proceeds from your life insurance carrier. The death benefit was $100,000 but you had a cash value of $150,000. The $50,000 would be taxed because it is considered taxable income.
Many times when people begin their estate planning their advisor or lawyer will recommend life insurance as a tool to transfer family wealth without having to pay taxes. Some people with larger estates will create a life trust to help them transfer wealth to their families. Instead of them listing a family member as a beneficiary they will instead name a trust as the beneficiary which is often referred to as a life trust. The main objective in creating this is to pay for estate taxes or as inheritance to an heir.
Term life insurance benefits are tax free because you will not accrue any cash value with this type of policy. If you purchase a whole life, universal or variable life insurance policy there are some restrictions. For instance, any amount of money that you contributed, gained interest on, or invested that is more than the death benefit will be taxed. So let’s say that your beneficiary received $150,000 in proceeds from your life insurance carrier. The death benefit was $100,000 but you had a cash value of $150,000. The $50,000 would be taxed because it is considered taxable income.
Many times when people begin their estate planning their advisor or lawyer will recommend life insurance as a tool to transfer family wealth without having to pay taxes. Some people with larger estates will create a life trust to help them transfer wealth to their families. Instead of them listing a family member as a beneficiary they will instead name a trust as the beneficiary which is often referred to as a life trust. The main objective in creating this is to pay for estate taxes or as inheritance to an heir.
Subscribe to:
Posts (Atom)
.jpg)
