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!
Showing posts with label PA Life Insurance. Show all posts
Showing posts with label PA Life Insurance. Show all posts
Monday, January 4, 2010
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.
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.
Wednesday, August 26, 2009
Baby Boomers and MA Final Expense Life Insurance
Baby boomers are a group of seventy six million American people who were born 1946-1960. Many of these baby boomers are starting to retire during one of the most volatile economies America has ever seen. In addition, to retiring some are being layed off from their employers after working for their employers for years sometimes decades.
Unfortunately, many baby boomers are left without having the necessary life insurance they that they relied on through their employers. This is why final expense life insurance has grown in popularity. Many people who are retired or layed off in this age group now know that they need some sort of life insurance to pay for their funerals and final expenses. With their pensions, and other retirement accounts being negatively affected by the current market they need an option to help their families pay for expenses upon their death.
Term life insurance usually is not an option for this age because they need the permanency of whole life insurance. A policy is usually issued from $5,000-$20,000. Final expense life insurance requires no medical exam and the applicant only needs to answer a few questions to obtain coverage. A policy is usually issued within a few weeks. Most importantly, in some states regardless of your health condition an insurer must issue a policy to you. In the state of Massachusetts an insurance carrier must offer at least a $5,000 policy to an applicant regardless of their health.
Unfortunately, many baby boomers are left without having the necessary life insurance they that they relied on through their employers. This is why final expense life insurance has grown in popularity. Many people who are retired or layed off in this age group now know that they need some sort of life insurance to pay for their funerals and final expenses. With their pensions, and other retirement accounts being negatively affected by the current market they need an option to help their families pay for expenses upon their death.
Term life insurance usually is not an option for this age because they need the permanency of whole life insurance. A policy is usually issued from $5,000-$20,000. Final expense life insurance requires no medical exam and the applicant only needs to answer a few questions to obtain coverage. A policy is usually issued within a few weeks. Most importantly, in some states regardless of your health condition an insurer must issue a policy to you. In the state of Massachusetts an insurance carrier must offer at least a $5,000 policy to an applicant regardless of their health.
Thursday, August 20, 2009
How Much Do Funerals or Cremation Services Cost?
When figuring out how much final expense life insurance you may need it is important to find out how much it would be for a funeral or cremation service. Although, it varies by area it important to figure out what type of service you want and price them so that your family is prepared and are not financially burdened at the time of your death.
Upon researching you will find that there are different options available to you when planning your services. The average funeral can cost $6,500 or more depending on the arrangements. All funeral service providers charge a basic fee which can range between $500-$2,000. This fee cannot be avoided as it is used to acquire the death certificate, sheltering the remains, and making the necessary arrangements with the cemetery or crematory. In addition to this fee there are also optional services such as embalming, memorial service, use of equipment and staff, caskets, cremation, burial containers, or the intermittent that are not included in this price.
Caskets can range between $2,000-over $10,000. Funeral homes can sometimes mark up caskets up to 600%. It is best to shop around on prices for caskets this can really save you a lot of money. Funeral homes have to accept a casket even if it is not purchased through them. A funeral plot can be $500 to several thousand dollars, Opening and closing a grave can be $350 to $1,500 depending on the time and day of the week, and a headstone or markers can be $500 to several thousand dollars. If you are going to be cremated and want to a memorial service prior to your cremation check with your funeral home to see if you can rent a casket for the service. An urn can cost as much as $1,000 or more.
If you want to ensure that your family is not financially burdened during their time of grief it is important to have some sort of plan to pay for all of these fees. This is what final expense life insurance was designed for. The beneficiary usually receives payment within 24 hours after the service is performed. We usually suggest purchasing a policy between $10,000-$15,000 to cover your expenses but it is up to you to research to find the best coverage amount for you and your family. Remember that it is best to prepare before it is too late.
Upon researching you will find that there are different options available to you when planning your services. The average funeral can cost $6,500 or more depending on the arrangements. All funeral service providers charge a basic fee which can range between $500-$2,000. This fee cannot be avoided as it is used to acquire the death certificate, sheltering the remains, and making the necessary arrangements with the cemetery or crematory. In addition to this fee there are also optional services such as embalming, memorial service, use of equipment and staff, caskets, cremation, burial containers, or the intermittent that are not included in this price.
Caskets can range between $2,000-over $10,000. Funeral homes can sometimes mark up caskets up to 600%. It is best to shop around on prices for caskets this can really save you a lot of money. Funeral homes have to accept a casket even if it is not purchased through them. A funeral plot can be $500 to several thousand dollars, Opening and closing a grave can be $350 to $1,500 depending on the time and day of the week, and a headstone or markers can be $500 to several thousand dollars. If you are going to be cremated and want to a memorial service prior to your cremation check with your funeral home to see if you can rent a casket for the service. An urn can cost as much as $1,000 or more.
If you want to ensure that your family is not financially burdened during their time of grief it is important to have some sort of plan to pay for all of these fees. This is what final expense life insurance was designed for. The beneficiary usually receives payment within 24 hours after the service is performed. We usually suggest purchasing a policy between $10,000-$15,000 to cover your expenses but it is up to you to research to find the best coverage amount for you and your family. Remember that it is best to prepare before it is too late.
Wednesday, August 19, 2009
SUZE ORMAN SAYS
I HATE WHOLE LIFE INSURANCE
I HATE UNIVERSAL LIFE INSURANCE
I HATE VARIABLE LIFE INSURANCE
THE ONLY TYPE I LIKE – FOR THE PURPOSES FOR INSURING YOUR LIFE – IS TERM INSURANCE!
As a life insurance agent I believe that everyone has a specific goal that they want to acheive when purchasing life insurance. If a young couple wants life insurance to cover their mortgage payments, debt, and most importantly want to maintain their life style I would definately say term life insurance is the way to go. Not only will this route be cheaper than whole life insurance but a families needs will change as the kids grow up and their debt (hopefully) diminishes.
Now if someone is 60 years old and does not have any life insurance I would say to go with whole life insurance and more specifically final expense life insurance. At this age the kids are grown up, this person should have minimal debt and their only concern is to pay for their funeral and a few outstanding debts that they have. This would require a low life insurance value such as $10,000-$25,000. I would not recommend term life because at the end of the term of coverage this person would be either uninsurable or would have to pay such a high premium that they would not be able to afford it.
I HATE WHOLE LIFE INSURANCE
I HATE UNIVERSAL LIFE INSURANCE
I HATE VARIABLE LIFE INSURANCE
THE ONLY TYPE I LIKE – FOR THE PURPOSES FOR INSURING YOUR LIFE – IS TERM INSURANCE!
As a life insurance agent I believe that everyone has a specific goal that they want to acheive when purchasing life insurance. If a young couple wants life insurance to cover their mortgage payments, debt, and most importantly want to maintain their life style I would definately say term life insurance is the way to go. Not only will this route be cheaper than whole life insurance but a families needs will change as the kids grow up and their debt (hopefully) diminishes.
Now if someone is 60 years old and does not have any life insurance I would say to go with whole life insurance and more specifically final expense life insurance. At this age the kids are grown up, this person should have minimal debt and their only concern is to pay for their funeral and a few outstanding debts that they have. This would require a low life insurance value such as $10,000-$25,000. I would not recommend term life because at the end of the term of coverage this person would be either uninsurable or would have to pay such a high premium that they would not be able to afford it.
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