With Life Insurance there are options. You can choose a Term Life insurance plan which provides you with protection for a set amount of chosen time or A Universal plan that is more permanent. These plans will provide a tax free, lump sum payout to the chosen beneficiary upon the insureds death. Risk related categories are used to determine your premium by a number of factors, including overall health, family medical history and your lifestyle.
The Waiting Game
Should you rethink your reasons for putting off buying life insurance?
When life gets busy, we sometimes put off things that can be accomplished later, like getting our car serviced or doing yard work. You might think buying life insurance fits that category-after all, most of us don’t plan on dying anytime soon. But there are actually a number of advantages to getting coverage now. Here are some common excuses for procrastinating, and the reasons to rethink them:
It costs too much. Most people overestimate the cost of life insurance, on average guessing that it costs more than twice as much as it really does.
I might find a better deal tomorrow. As people age, their chances increase of developing a health problem that will affect their insurability. Life insurance rates
tend to be lower the better your health is.
I don’t need it now. If you’re young,
certain kinds of policies bought today can
help to fund your retirement years from
now. If you’re already retired, a life insurance
policy can help you leave a legacy.
I don’t want to think about death. Rather than think about your own
passing, think about those you care about. A death benefit can help protect their financial future and stability.
Choosing the right coverage is overwhelming. A life insurance agent can help you understand your needs and options+saving you time by guiding you through the process of picking coverage that’s right for you.
Source: LlMRA 2076 Insurance Barometer study
Contact: Jim Collins, Licensed Insurance Agent in Florida 617-905-6411