Thursday, December 27, 2018

Why Should You Obtain a Life Insurance?

Why Should You Obtain a Life Insurance?

 Life Insurance

No one knows when death will strike, and a sudden tragedy can leave one's family in dire financial straits. For this reason, it is recommended that you consider the benefits of coverage policy. 

With a quality insurance plan, one can ensure that a lump sum of money is paid out to their loved ones immediately after death. And with the benefit of the Internet, finding great deals on insurance quotes is a simple task.

The number one reason to consider purchasing an insurance policy is to safeguard the future of one's family. We especially recommend this to anyone with children. Being a parent is a large responsibility, one that does not end with death. Adolescents need financial support, and college tuition can prove quite expensive. To keep a child on the right path, coverage can prove crucial.

Even for those without children, insurance may be required to support a significant other. If a death will leave one's life partner with a void of lost income, insurance coverage can fill this void.

The right life insurance policy can wipe out all of one's business and personal debts immediately upon death, ensuring that their family does not get stuck with these obligations. Furthermore, all funeral costs can be paid out of a life policy.

While many individuals choose to wait until old age to purchase a life insurance coverage plan, acquiring it while relatively young will lock down a lower rate on insurance premiums. These low premiums allow a policyholder to build up an impressive amount of capital.

To locate life insurance quotes online, all one must do is utilize an online quotes service. By filling out a simple online form, one will be able to scroll through a list of life quotes from the industry's leading insurance providers. This helps a consumer to save both time and money while acquiring their ideal life insurance plan.

Life insurance should be an important factor in everybody's life. Especially if you are married or have a family, there are many different companies out there that offer it. However the key is to find the right one for your needs and you can do that by a simple click. 

Comparing quotes and services are important when choosing a life insurance company, so make sure to do your homework before making a decision. You can get life insurance online, or if you prefer you can call the company you are interested in. You will be happy that you have made such a great decision for your family.

Consider the "Living Benefits" of Permanent Life Insurance For a Child

Consider the "Living Benefits" of Permanent Life Insurance For a Child

 Permanent Life Insurance For a Child

The thought of losing a child is obviously a nightmare beyond words. That said, parents should act like the responsible adults they are, and educate themselves on permanent life insurance for their children. 

Aside from a death benefit that everyone associates with a life insurance contract, there are financial benefits for your child even if he or she lives to a very old age.
There are two popular arguments against life coverage for children.

First, because no one wants to dwell on the demise of a child many parents immediately put up a wall of rejection at the notion of purchasing life insurance on their children. It's easy to understand why parents want to avoid even thinking about such a tragedy, but rather than dismissing the idea out of hand consider the "living benefits" that many permanent life insurance policies offer.

In addition, some financial pundits teach that life insurance should not be purchased on children since they do not contribute financially to the household, and thus the death of a child would not result in a financial burden to the family. This of course is a ridiculous statement. In the unfortunate event of a child dying, these pundits would have us believe that on top of the incredible emotional strain involved, the parents will easily be able to pay the $10,000 to $15,000 that a funeral and burial costs.

Let's look at some benefits to a person whose parent(s) had the foresight to purchase a permanent life policy when he or she was young.

The premiums never increase. Thus the policy holder will continue to pay the same low childhood rates as when the policy went into effect - regardless of age or declining health. When the child becomes an adult the contract can be transferred from the parent to the child with no increase in premiums. An elderly man with multiple health problems would therefore be paying the same life insurance rates as when he was a young healthy boy.

Some insurance companies offer a "guaranteed insurability" option that allows the policyholder to purchase additional life insurance when he or she reaches a certain age or when a defined live event occurs such as getting married or graduating from college. This can be a huge benefit because the company must issue the increased death benefit coverage regardless of the health of the policyholder.

Permanent life contracts build cash value in addition to providing a death benefit. The cash value of a policy can be borrowed against for such things as a college education, a down payment on a house, funding retirement, or anything else for that matter. Or if you choose to cancel the policy outright the insurance company will send you a check for the amount of cash value accumulated as of the date of cancellation.

Some contracts offer a "reduced paid up" option which allows a policyholder to cancel the policy, and then based on a formula considering the premiums paid up to the point of cancellation, the insurance company will issue a policy with a certain death benefit that is reduced from the original face amount. Let's say for example a person buys a contract with a $15,000 death benefit, pays the premiums for a few years, then decides to cancel the policy and take advantage of the "reduced paid up" option. The insurance company will then issue a policy with a face amount of say, $4,000. The good news here is that the policyholder has a $4,000 life insurance policy and she never has to make another premium payment.

There are many variations of permanent life insurance contracts and the options available and a description of each is beyond the scope of this article. This type of insurance should never be purchased online unless a person has a good understanding of what they are buying. Talk to a local insurance advisor who can explain your options in more detail and answer any questions you may have.

Instant Term Insurance Policy - When Should I Go for It?

Instant Term Insurance Policy - When Should I Go for It?

Insurance Policy 

Instant term life insurance cover is an insurance cover that has a very basic structure of coverage. This cover only provides coverage subject to the term of the policy. It is possible to apply for this type of policy over the internet, and this makes it very convenient. 

Just like all other policies, here you will be expected to make payments on a regular basis, a figure that you will be given by the insurance company, depending on the policy.

When the holder of the policy dies during the specified period, then the beneficiary is fully entitled to the benefits. The death benefits in this case do not have a savings component meaning that there is no accumulated wealth in relation to the premiums. This means that what you are paid at the end of the period is equal to what was contained in the policy. If you live beyond the term stated in the contract, you are no longer entitled to claiming the accumulated amounts from the policy. 

This clearly means that this policy does not have an exit approach. In addition, when the insured person dies after the term is over then the beneficiaries are not entitled to any death benefit.
Instant term life insurance policy is advisable for healthy people with an inadequate income. Normally the rates of the premiums are very low, when you compare them to a permanent insurance contract. This type of insurance policy is essential for people who want their immediate family to continue well, in the event of their death. It is also the best option for a person who is unable to get premiums that are more expensive.

Types of term life insurance policies

Renewable Term Policy

This type of policy is renewed at the end of the term agreed. The renewal is automatic and you do not have to go through the bureaucracies of getting a new cover. In this case, the new premiums are low.

Level term Policy

This one has premiums that are uniform during the whole term of the agreed policy. In other cases the premium rates are fixed, however, they can be adjusted after a given period.

Increasing/Decreasing Term policy

In this policy, the amount of death benefit given to the beneficiary decreases or increases with time. However, the premiums are constant during the term of the policy.

Convertible Instant Term Life Insurance Policy

This kind of policy gives you a right to convert a part of the policy into a permanent one. This is useful for individuals who might be able to pay higher premiums in future.

Before you subscribe to an insurance policy, you should research the most appropriate policy that fits your lifestyle and offers the best guarantee for your beneficiaries.

The Various Types of Life Insurance Made Easy

The Various Types of Life Insurance Made Easy

Types of Life Insurance

Thinking of buying life insurance, but not sure where to start? Here are a couple of things to know before you even get on the market.

Life Insurance

Life insurance is designed to replace income that is lost when the breadwinner dies. It can also be used to pay for the special needs of your family such as payment for college or for mortgage. If you are the breadwinner of your family, then it's a good idea to get something like it. It's also a good idea if you are near retirement.

The next question you might ask is what type of insurance should you buy? You will find out the answer to that by calculating how much it would take to financially support your family in a year in case something were to happen to you.

Types of Life Insurance Simplified 

This kind of policy is the simplest form of insurance. It allows you to purchase coverage for the least amount of money, and provides coverage for a particular period or term. It is considered the most common type of life plan.

Term universal life insurance, on the other hand, is a hybrid, and offers more flexibility when compared with a term policy. This policy lets you extend the term of the policy, and the policy can be customized to fit your current financial state.

Whole life is a policy that covers you for your entire life, as long as you stay current with the payments. Whole life coverage is more expensive when compared with the term policy, but part of the premium will be set aside in an account designed to cover the cost of the premium as you age.

Blended life insurance policy starts as a combination of term coverage and permanent coverage where future payments are used to convert the term coverage into a permanent coverage type of plan.

Universal life provides coverage for the person, as long as premiums are paid. This also has an investment component. Beneficiaries either receive the full value or full value plus the cash value of the investment component or account. The value can rise or fall depending on the value of the investments.

Finally, there is variable life, which offers more investment options, which includes stocks bonds and other mutual funds. Similar to universal life, the face value will rise and fall with the value of investments.

The important thing is to know what you need from a simple term or 10 year life insurance or a whole life plan. It's a matter of what you need, or it all boils down to the amount that can sustain your family in case of your death.

Which Is the Best Life Insurance Coverage for You?

Which Is the Best Life Insurance Coverage for You?

Best Life Insurance Coverage 

Insurance has become one of the booming businesses these days; however, it is also a necessity in many countries. There are several companies that advertise tons of policies, and as a result, the end-users get confused about the best insurance coverage. 

Before you start paying for life insurance, take a look at the advantages and disadvantages of various coverage so that you can finally end up choosing the most appropriate one.
You can see different types of policies, and familiarize yourself with all the options so as to short-list the best policy that suits your needs perfectly.

Term Life Cover

Let's discuss the pros and cons of term life insurance. This is an affordable type of cover, which enables the users to seek life cover with larger face values that can cover up for their annual earnings of up to 10-20 years. It is pretty easy to purchase such kind of policy. You just need to find out the duration and other details of the policy, and the premiums aren't very high.

As you know that the major purpose of a life insurance is to offer something to the loved ones when you are no more in this world. So, it'd make sense to purchase the term policy to cover as the longest possible time duration; usually the maximum tenure is 30 years (but may vary slightly).

On the other hand, after the term ends, if you want to start a new one, you'll have to start right from the scratch. In case of health issues, you might not be an eligible candidate for the policy coverage at an age of 50+. However, if you cancel or outlive the policy, you don't get any refunds; so, don't expect any returns on a term life cover.

Whole Life Cover

Whole life insurance never comes at a cheaper price; however, it builds up to a potential savings account or even pension account that can turn out to be really handy after retirement. It doesn't attract any taxes, so you can rest assured that you'll be definitely benefited after retirement.

Whole life insurance is a permanent arrangement for accruing funds, and you will be guaranteed that you will be left with decent amount of money after maturity. This policy can act as a fantastic tool for estate planning; pay-outs after death can be used for covering the estate bills.

On the other hand, it is expensive too. If you encounter any hiccups in making these payments, then you need to look forward to a term policy. Of course, you can search online for best life insurance quotes.

With this type of policy, it is possible to save a little for your retirement on your own. But, on the downside, it also involves high administration fees and other fees, which lower the overall returns.

What's the Best Way to Fund a Buy/Sell Agreement for Your Business?

What's the Best Way to Fund a Buy/Sell Agreement for Your Business?

Best Way to Fund a Buy/Sell Agreement for Your Business

Many small business owners have entered into their chosen profession looking to make a real impact on the world. The majority of us who are in business for ourselves got here thinking that we have something to offer society. 

Many times we go it alone, and many times we take on one or more partners. We often times have different provisions to protect ourselves in the event of disagreements, or financial hardships such as articles of incorporation or a shareholders' agreement.

There is one major problem that many business owners may not even have thought about, let alone addressed. What happens if one business owner can no longer contribute to the company in the event that one of life's unthinkable moments comes along and removes them from the equation of the business such as premature death or disability? What happens to their shares, and what happens to the remaining partner?

This is where another important business document comes into to play known as the buy/sell agreement. The agreement generally states that if one partner passes away that the other surviving partner will buy out their shares (usually from their spouse). This does two things: 1. It ensures that the family of the deceased gets the current equity available in their business, and 2. It ensures that the surviving partner does not inherent a reluctant partner.

There are three important pieces to any good buy/sell agreement that need to be crafted in order to ensure that all parties are benefited.

1. The shares of each partner need to be valuated. This is usually down by an accountant, and may have a provision for future valuations in the event that the share increase in value.

2. A lawyer who actually draws up the agreement.

3. A source of funding for the each partners shares in the event that something happens.

A good financial advisor will usually act like a quarterback in these situations directing all parties to come to a quick and easy resolution to the problem at hand.

Number 3 is where the problem generally lies. Most business owners have the majority of their capital tied up in their businesses and do not have the immediate cash available to buy out their partner's family which can be a large issue especially in the survivors need cash to pay off the deceased's debts and live. Most lawyers will word the agreements to state that one partner will buy the other out over time, but this is not favorable for everyone involved.

So, how do we create immediate tax free cash?
Life insurance is the absolute best way to fund a buy/sell agreement. If two partners own a business equally that is worth $1 million then they should each own a $500,000 policy on the other if the shares are split 50/50 of course. Immediate cash is created, tax free, while bypassing probate for the beneficiary. The survivor's family gets paid, and the surviving owner is free to pursue the original direction of the business.

This is the most affordable way to take care of the cash shortage. And, the premiums may be tax deductible to the business if the policies are corporate owned.
Who knew that funding a buy/sell agreement could be that easy?

Reasons Why You Need Life Quotes

Reasons Why You Need Life Quotes

Reasons Why You Need Life Quotes

Life is filled with uncertainties and unexpected events. You need to make sure that you provide for these events as well as you are able to do so. One of the ways that you can use to do this is by making use of life insurance. before you get life insurance you need to make sure that you get life quotes. Let us look at why this is so.

Options for life insurance

When you get life quotes you are, to all intents and purposes, gathering options together for your life insurance policy. It is important to make sure that you have options as this will enable you to make the best choice when it comes to which life insurance policy you want to take. You will need to take a look at the various options and decide which one is going to give you the best value for money in terms of amount of cover. You also need to be sure that you take a look at what kind of cover you are getting, in terms of when the policy will pay out and when you are going to forfeit your cover.

Terms and conditions

If you request life quotes you will get the terms and conditions that will apply to the policy. This means that you will be able to take a good look at them and ask any questions that you may have before you actually agree to the policy. Make sure that you understand everything before you sign on the dotted line.

Time to discuss

When you get life quotes you will notice that you are given a certain amount of time to decide if you want to accept the quote or not. This means that you have got time to sit down with your significant other and decide if the options that you have are good ones or if you should keep looking. You are not obliged to accept any quote immediately, or at least you should not be obliged to accept any quote immediately. Make sure that you get a second opinion on the life quotes that you get before you accept any one of them.

It is important to make sure that you have some kind of life insurance in place before it is too late. You need to be sure that you are going to be able to take care of your family even after you have left this earth and this is what life insurance policies are for.

Once you have decided which of the life quotes you are going to accept, make sure that you notify the insurance company that sent it to you so that they can activate your policy and start billing you. a quote on a life insurance policy does not mean you are covered. You have to accept the policy terms and conditions first. Trust me though, a life insurance policy is not money wasted if you have a family that depends on you to take care of them.

Here Is A Reason To Start Your Final Expense Pie Chart

Here Is A Reason To Start Your Final Expense Pie Chart

I want to give you some interesting facts of life. We don't naturally want to think of death. But, it started the day we were born. Someday we all will have to move on to the next step in the natural order of things. People just need to accept it and prepare for the inevitable now!

We all have an expiration date. Just when, how and where it will happen only God knows that fact of life. No one plans to die, just like many celebrities, Sonny Bono, in a skiing accident, or John F. Kennedy, Jr., flying to a cousin's wedding. Just look in the obituary section of your newspaper for a week and see how many short-term illnesses are listed.

Before I got into the funeral and cemetery business I experienced two very different situations. I spent most of my childhood with my Grandma and Grandpa. A sweet little 5 foot woman who had to work most of her adult life, supporting her husband that had multiple strokes in just one month when he was in his early 50's. She first purchased, on time payments, two burial spaces for $50.00 each. She paid $5.00 each month to pay them off. Then she did the same thing for the vaults. Then she purchased funeral services and paid them off. She did the same for the bronze companion memorial.

Why did she do those things? She loved her family so much that she didn't want to have us burdened with all the cost and worry.

She died the way most people would want to die. Her 100 year-old heart just slowed down to a stop while sleeping. She had done her job of being the best grandmother anyone could have asked for. She left a legacy!

My other life experience was with my mother. My father had died unexpectedly in 1990 working for the railroad. Luckily, at that time they had some money set aside to cover all of his funeral and cemetery expenses. She paid for her grave space, vault, opening and closing cost for herself as well. However, it caused a financial strain on her afterwards, until she got back on her feet again. Twenty years later she didn't stay active and started using a cane and at times a walker.

I received a call one August evening at 10:30 from my mother's significant other crying and telling me he just came home and found my mother dead on the kitchen floor.

We were totally unprepared for her untimely death!
My sister and I had the burden of coming up with the $7,000.00 to pay for the funeral bill. While trying to make what seemed like a hundred different decisions within hours after our mother's death. It was extremely overwhelming on top of grieving over the loss of our mother.

Please pre-arrange not for yourself but for all the one's you love!!!

Saturday, November 17, 2018

Finding The Best Business Insurance

Finding The Best Business Insurance

Just like any other property, businesses need to be insured. This ensures that you will get compensated in case of any unprecedented loss that might occur. The cost for that varies from one company to the next. That is why it is important to know how to get the best business insurance at the most affordable price possible.

To do this you need to first know the features of ideal business coverage. It should comprise of general liability, property and workers compensation insurance. Those are just the basics. There are other covers, but the ones mentioned above are the most important.

General liability cover usually handles any legitimate or fraudulent claims made against your company for things such as bodily injury to non-employees, malicious prosecution performed by the company, personal injury through false imprisonment, damage of property and advertising injury. It not only covers the damages against you but also the legal fees involved.

Property coverage caters for loss of physical possessions due to accidents, theft or fire. It enables you to replace office equipment and furniture, inventory, supplies and in some cases the building itself. This is done by replacing the value of items that have been lost or their value of depreciation in cash form. It is up to you to decide, depending on the capital you have.

When you take the depreciated cash value insurance, you will be able to save money by paying lower premiums. However, in the event of a great loss you will be on the losing end. This is because some of the items that have been lost might not be available at the depreciated cost, and you might have to use your money to cover the deficit, in order to replace them. So, it is better to go for the replacement cost coverage.

The workers compensation cover, gives cash rewards to employees who get disabled or injured due to work related activities. This coverage is usually required for every company. In some cases it is even required by the law that every business acquires it.

After understanding what the best business insurance is comprised of, you need to look for the best deals in the market. This requires some research. You can contact the different companies that offer that type of coverage and compare their rates. Go for the one that offers the most affordable rates. However, do not be blinded by figures. Ensure that their policies offer comprehensive cover before purchasing them.
Can People Over 65 Still Avail Life Insurance?

Can People Over 65 Still Avail Life Insurance?

Life Insurance
Life insurance for individuals over 65 years of age is now available, and for affordable premiums, at that. This is because the life expectancy of the average person is now older than the life expectancy a decade ago, and that a lot of people live beyond the age of 65.

With the demand for further coverage, insurance companies have started offering affordable premiums to seniors who pass their medical assessment.

Additional Insurance
Seniors who have secured insurance in the past have the option of getting additional coverage if they think that the benefits they will receive will not be sufficient to cover the expenses of their family in case of their passing. Reaching the age of sixty-five doesn't necessarily mean that the mortgage's paid, or that the children have received proper university education. Purchasing additional coverage can protect the surviving family from having to pay debts and covering other expenses after the principal has died.

Choose the Best Coverage

Insurance companies have, of late, begun to sell their products through promotional deals designed to help seniors decide which coverage is best for them. And since the demand for insurance among seniors has risen, agencies have come up with customized coverage policies that vary on the age and physical well-being of the potential customer.

But how does one find a reputable provider? One good way of finding these providers is by shopping for insurance on the Internet. This practice has become so streamlined that it's like shopping for goods in a department store. The buyer can easily compare the cost of premiums, and their benefits, when looking through the insurance policies on a company's website. Not only is this convenient for people who aren't as mobile as they used to be, but it also cuts the middleman from the picture.

This isn't to say that the middleman is always detrimental to your quest for a decent insurance policy. Seeking the advice of a professional agent can also be beneficial in helping you make a decision. The senior can then ask family members what they think about the agent's opinion in order to get better insight on the possible options.

In deciding on life insurance, the senior citizen can choose to avail of term insurance that has a coverage which expires after a certain period of time. This is great if he thinks that by the end of the term, his spouse and children will already have achieved some degree of financial independence.

On the other hand, he could also get whole life insurance. This is a type of policy wherein the coverage is equivalent to the life span of the senior. This comes with an investment-like feature, where the cash value builds up over time.

The age of sixty-five is the age where people usually retire. Life insurance for over 65 year old people is especially beneficial, then, for those with poor health, and with outstanding mortgages at the time of retirement. It's probably best for these people to avail of a decent life insurance policy. After all, the problem of finding a proper insurance provider willing to take the risk of supplying a senior citizen with a policy is an idea that is slowly being retired.