What to look for when buying life insurance?
Claims- Ask how it is handled, by whom and how quickly?
Advice- How often does the company you purchase insurance from review your policy?
Service- Who do you call when you have questions and how accessible is it to get answers to your questions?
Safety rating- check the safety/financial rating of the . One of my favorites the Weiss rating.
Term Life Insurance
Conversion – May convert your Term Policy for a Permanent Life Insurance Policy
Short term goals
Premium generally level
Earns cash value and may be eligible for dividends.
Variable Life/ Variable Universal Life- cash value is based on the performance of the underlying investment options you choose to invest in which fluctuate with market conditions. Cash value is not guranteed.
How Much Life Insurance Do I Need
Have you ever sat down and considered how much life insurance you will need? Here are a few questions to help you consider how much you’ll need:
L- Loans/Debt – How much would your family need to pay off the Mortgage, continue to pay for rent, pay off any Loans and debts ?
I- Income Replacement- How Much will your family need to continue maintaining and living the same lifestyle?
F- Funeral Expenses
E- Education – How Much would you like to leave for your children’s education or for your spouse to continue their education?
Reasons Why People buy Life Insurance
I’m young why do I need life insurance?
Why do I need Life Insurance now? I’m young and I have alot of time. That’s what I thought until I started selling Life insurance. Helping many people and their families I hear their stories and see what they go thru. Why wonder would of could of, should of when you can do it right now. You may say you don’t need life inurance and question yourself why do I eed it ? Let me tell you why you should get it right now!
Your age has to do with how much you pay and as you get older the premium increases. Where do you see yourself in a few years. Where ever Life takes you, I ‘m sure you’ll have a need for life insurance. You may find the girl or boy of your dreams, get married, gain a mortgage and have children. Would you think Life insurance is important then? What if you procrastinate and wait? I have alot of time you think to yourself and when you finally apply you can’t qualify because of your health or if you do, the rate is 10X more because of your age or rated because of your health. This is when you realize if only I had gotten it earlier. Now, how am I going to take care of my loved ones if something happens to me? Are my love ones going to be able to continue living the same lifstyle?
I see alot of women and men who wish they had gotten insurance earlier and regret not getting it when we had met wth them a couple years ago. I have several customers who we sat with and discussed getting life insurance and when they finally decided to try and qualify they got declined because of their health and some of them didn’t even know they had an existing health problem. Try being the one to tell them that they can’t get life insurance and the reason why?
With this in mind, remember it’s better to get life insurance early than none at all. In most cases if you buy at a early age the price will be ffordable, you’ll probably be in better health and most of all you’ll have peace of mind knowing that you have some type of life insurance in place. Some policies and some companies offer A Guranteed Insurable option which is a rider that can be added on to your policy at the time of purchase which will give you a chance to purchase more insurance over time regardless your health just as long as you qualify.
Loseing my father at the age of thirteen and seeing what my mother had to go thru made me look at my job differently. I know it’s my job to help people learn about life insurance and reassure their loved ones will be taken care of if the unexpected happens. I share