Why you don't need Life Insurance

Why you don't need Life Insurance

Mike spends a few minutes talking about why you don't need Life Insurance

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Why do you need life insurance - but how much do I need??

Why do you need life insurance

Importance of life insurance

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One of the most common questions asked is how much life insurance should I purchase and why do you need life insurance. While there is no set answer, each individual and family needs to look at their exact needs and situation. Here are some broad factors to consider.

Look at your current and future needs. If you have a family or a spouse that is largely dependent on your wages to live, you might want to make sure that you have a life insurance that will cover your family and spouse for 20 years or more. Some people usually go with the philosophy that you are better off over insured, then not having enough insurance as a reason of Why do you need life insurance

Some life insurance agents state that at minimum, you should at least have a policy of 15K to cover burial and all final expenses. In addition, some financial planners advise you to purchase life insurance by multiplying your salary, for instance, purchasing 5 times or 10 times the amount of your salary.

Other life insurance agents, advise you to look at your family or spouses expenses for the amount of years that you want to cover them and figure out how much money they will need to live comfortably for the reason of Why do you need life insurance. Many life insurance agents have special formulas that can figure out how much insurance you need for your age and level of coverage you want to provide your spouse and children.

Many people want to make sure that their family is very comfortable in the event of a death. For instance, a policy might take into consideration the cost of a home, car loans, maintenance of assets and education costs for children. Usually the more dependents, the more insurance is necessary.

Some consumers that are buying life insurance don't necessarily purchase it to care for dependents, but to cover estate taxes or to give an inheritance to their heirs. Usually these types of policy holders are already well off or no longer have bread winning responsibilities that make it necessary to care for small children or a spouse.

Lastly, if you are single, do not have any dependents and have an adequate amount of savings to take care of any final expenses such as funeral costs and taxes, you might decide you do not need to purchase life insurance at all.

Why do you need life insurance

One thing is for certain, make sure you put lots of thought into the amount of life insurance you do purchase and talk to an accountant or insurance agent to learn more about how much life insurance, you personally should purchase.

For more click here  Life insurance - Because you Care

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6 steps that will help you decide how much life insurance you need

6 steps that will help you decide how much life insurance you need

Below you will see how to assess the amount of life insurance one needs, and what products should be covering those needs. This talk is intended only to give a general, high-level overview of a life insurance needs assessment. (And by all means, if you disagree with this self-taught theory, point out my mistakes!) 

6 steps that will help you decide how much life insurance you need 1. Identify all of the items that an individual needs life insurance to cover:

• Burial/cremation expenses
• Leaving a legacy to loved ones
• Leaving a legacy to a charitable organization
• Replacing the income of a spouse due to untimely death
• Covering children’s education expenses
• Paying-off credit card debt, student loans, mortgages and other debts
• Ensuring the continuation of a business due to untimely death 
• Other financial commitments — insert your obligations here: ______________

2. Identify the dollar amounts that should be allocated to each item above. 

3. Write down the amount of life insurance needed for each line item on your list, so that you can tally-up the total amount of life insurance that should be purchased:

• You may allocate $15,000 plus a cost-of-living adjustment (COLA) for burial expenses (Tip: COLAs are important because today’s dollar will be worth far less than 100 pennies 10 years from now)
• You might want to leave a total of $250,000 to your loved ones
• Your desire may be to leave $50,000 to your favorite charity.
• If you are like the typical American, you’ll want to put aside $43,000 annually, along with a COLA for the number of years from your current age until your planned retirement age, to replace your income (i.e. planned retirement age is 67 and current age is 37, so multiply $43,000 plus COLA times 30). This will help to ensure that your family can continue with their current standard of living, despite a possible untimely death.
• Continue this exercise until you have calculated the amount of life insurance necessary for every item on the list

4. Review each commitment on the list and identify which of two camps the commitment belongs in: temporary or permanent. Temporary commitments will eventually go away (i.e. a mortgage loan is paid-off after 30 years) and permanent obligations will always exist (i.e. burial expenses).

5. Sum the total amount of life insurance needed for the temporary commitments — this is the amount of term life insurance that you should purchase.

• Term life insurance can generally be purchased as a stand-alone policy in durations of one, 10, 20, and 30-year terms; make sure the duration of the term policy purchased matches the duration of the temporary commitments from above.
• Term life insurance can also be purchased as an optional rider on a cash value life insurance policy

6. Sum the total amount of life insurance needed for the permanent commitments. This is the amount of permanent cash value life insurance that you should purchase.

6 steps that will help you decide how much life insurance you need

There are several types of permanent cash value life insurance, with the two primary types being whole life and universal life

• In general, whole life is more costly, but has stronger guaranteed cash values; it is also very structured and relatively inflexible in terms of changing coverage amounts and premium payments.
• In comparison, universal life (UL) is less costly and more flexible; there are several varieties of universal life, including fixed UL,indexed UL, and variable UL

Now do your homework.  None of us are getting out of here alive.  I can't guarantee much but I can guarantee is that those families with the right amount of life insurance will be far better off then those who do not plan.

6 steps that will help you decide how much life insurance you need

Do you have a plan?  What is your plan?  Life insurance ~~~ Because you care.  Click here.

Do you want to leave her a single mother ~~ with no money to support the family....

Do you want to leave her a single mother, with no money to support the family?

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What if you don't come home tonight?  What will she do?

Do you want to leave her a single mother

Do you have a plan?  What is your plan?

Life Insurance - Because you care.

Click here now.

What happens to the kids when you are gone.

What happens to the kids when you are gone

What happens to the kids.....

Click on the video below

                                             What happens to the kids when you are gone

What is your plan?  Do you have a plan?

Life insurance - Because you care

CLICK HERE

Why do you need life insurance ~~ Ignorance is not an excuse

Why do you need life insurance

Life Insurance 101

Ignorance is not an excuse.  Educate yourself on the values of life insurance.  Do you know that the percentage of families that are under insured for life insurance is at an all time high.  Why do you need life insurance?  There are many reasons but none of them remove your obligations to provide for your family for when you are no longer here.

Watch the video below - educate yourself

Why do you need life insurance

What is your plan?  Do you have a plan?

click here - Because you care

Do you need life insurance ~~ what does your wife think...

Do you need life insurance

"I have to talk to my wife"

This is another statement that I hear quite often when talking to the husband about life insurance.

Sales 101 tells you to have both spouses at the appointment.  I agree with that but sometimes that is not possible.  

So I stopped to think about that and have come to this conclusion - the guy just doesn't want to pay the money to protect his wife and family.  With that being said, it could be about the money.  Maybe things are tight but if that were true and if the guy truly loved his family and wanted to make sure they were protected he would ask to see a lower premium - to get something - verse just putting it off.   Do you need life insurance

They've looked me in the eye and said, "I'm going to talk to her today and I'll get back to you in a couple of days."  In over 25 years that has never happened. I have never gotten that phone call.

I mentioned this to call out the guys who have not provided for their family when they die. Do you need life insurance

                                             


I have over $1,000,000 dollars of life insurance - so I walk the talk.

Do you need life insurance

So ask yourself - Do I have a plan?  What is your plan?

To find out your options - click here - Because you care.

Why do you need life insurance

Why do you need life insurance

Happy Thanksgiving

Why Buy Life Insurance - Click below

Why do you need life insurance

What is your plan?  Do you have a plan?  Click here - Because you care.

Why do you need life insurance

What You Ought To Know About Life Insurance

What You Ought To Know About Life Insurance

Purchasing a life insurance policy can be invaluable to your loved ones if you happen to not be around one day. Read the information provided below to learn a number of factors you need to take into account when looking for life insurance to suit your needs.

Make sure that you have a purpose in mind for your life insurance. Firstly, decide why you want it, and the reasons you need it. You will get lower premiums if you are still young: start thinking about life insurance early.

You should only work with agent if you feel that he or she is trustworthy and knowledgeable. The person you choose will be handling your policies for your entire life, as well as assisting your family with these policies once you are gone. Obviously, having an agent you can trust matters a great deal in life insurance. Make sure you find someone with whom you feel comfortable. What You Ought To Know About Life Insurance

If you have people who are financially dependent on you, you should consider purchasing a life insurance policy. If you pass on, life insurance could mean your spouse is able to finish off your mortgage or even put your kids through college.

TIP #1
Be sure to fully understand what your needs are prior to beginning your search for life insurance. Not really comprehending just what your distinct needs are, could mean two separate possibilities that are equally risky to your wallet: paying for insufficient coverage, or overpaying for too much. Failure to address even one of these things can cost you a more favorable rate.

Independent Agents

Be cautious in your search for a reputable life insurance agent. Big companies will use agents to promote their products, while independent agents can offer you a wider range of possibilities. Most independent agents are knowledgeable about available options from various providers, which makes it easier to find a policy to fit your coverage needs.

If you’re married and are seeking a discount on life insurance, you should check out a joint-life insurance policy. If you desire to save money, this option is always a good choice. There is no “double payout” option with such a policy, and the death of one partner is going to bring the policy to a halt, so keep that in mind when deciding.  What You Ought To Know About Life Insurance

TIP #2
You need to see if your employer participates in group life insurance plans. Opting for a policy offered through your work can save you money.  But make note these policies are not yours and probably will not go with you when you leave or retire.
Don’t cash out your policy except in extreme necessity. There are many people today who are opting to terminate their insurance policies for cash. Cashing in a policy, especially a permanent life policy, will cause you to lose a lot of the money that you had invested in the coverage. There are much better ways you can do this.

When researching life insurance policies, it is wise to do your own homework so that you understand the products, but it’s also smart to cover all your bases by speaking with a professional. Their knowledge is slightly different because it may be biased, but it is still based on some truth and experience. This can help you understand what the results or possible solutions for certain obstacles will be.

Get a policy from a large company with a great reputation. An inexpensive policy through a firm with a poor reputation will not provide much security if they cannot pay out your policy in the event something happens.

Be a careful consumer and question insurance salesmen or representatives about the information and statistics they give you. If an agent tells you the ratings available for the company they work for are not relevant, you should file a complaint right away.  What You Ought To Know About Life Insurance

TIP #3
There are several ways in which you can purchase a policy. Do you want to purchase it with your employer or by yourself? There are also agents and financial planners who may be of assistance, however, bear in mind that the majority of these are fee or commission driven.
If you happen to fall into a category that insurance companies consider high risk, remember to shop around before settling on a policy. Do not be afraid of one a high quote from a single life insurance company. Companies have varying policies and charges for a variety of conditions. You may find some companies refuse to even accept you, while some may offer you a great premium rate.

It is invaluable to do your own individual homework prior to deciding on life insurance coverage. Find out what type of policies there are, and how they can meet your needs. Choose a policy that meets your needs and fits into your budget. Read the contract and ask any questions before signing. You should understand everything that’s in the contract.

What You Ought To Know About Life Insurance

It is important for you to purchase any life insurance policies from well-known companies. Insurance companies differ in serious and fundamental ways, so take your time to make a careful choice. Research these companies that are well-established, that have great financial standings, and that are well-known for quality investments.

An independent broker may be able to get you a better deal on life insurance than you would if you went straight to the insurance company. Doing this gives you more options. A broker will show you policies from many different firms. However, a firm will likely only have a limited number of options based on a handful of their specific plans. Your life insurance is something that you will hopefully have for many years, so do the appropriate research prior to making a decision.

TIP #4 
It’s always recommended you avoid all products containing caffeine prior to any medical exams for life insurance. While caffeine is legal, it can increase your heart rate and blood pressure to the point that it might reflect badly in your exam.
The amount and type of life insurance your family needs depends on factors such as the type of lifestyle you lead. Each family has unique requirements that you need to consider when planning for an unforeseen loss. It is important that the coverage you purchase is adequate for your family’s lifestyle.

As you now realize more than ever, a good life insurance policy will protect your loved ones in case of tragedy. It’s essential that you choose the right policy that is suitable for your family. This article’s advice can assist you in finding the right policy that you

To get a quote – Click here – Because you care.