Life Insurance Scenarios
by: Ivon T. Hughes
Most individuals have some form of insurance, whether it is for their vehicle, home or health. But it is important, however, not to overlook the benefits of life insurance, which pays money to beneficiaries when the insured dies.
HOW LIFE INSURANCE WORKS
Typically, the insured person makes payments into the plan - called premiums - in exchange for a "death benefit," the money that is paid at the time of death. If you are considering purchasing life insurance there are a few potential problems you need to be aware of.
DIFFERENT TYPES OF LIFE INSURANCE POLICIES
There are numerous types of policies you can choose, but life insurance policies generally fall into three categories - protection, long-term savings and estate conservation.
Many people purchase life insurance for the purpose of providing for their dependents in the event of their death, thus protecting your existing stream of income. If you are in the protection category you may want to consider term life insurance, which offers only a death benefit for a specified period of time such as until you retire.
If long term savings is your reason for purchasing insurance, you may consider a cash value policy. With this type of life insurance, your beneficiaries receive a payment upon your death based on the full amount of coverage , not the cash value of the plan. The value of these plans is usually tied to an underlying investment portfolio and that is how funds accumulate.
Another added benefit is that these policies usually allow a holder to borrow from the accumulated funds in the plan without taxes or penalties. Depending on the policy, you can typically withdraw a portion of cash value and not pay it back, or even cancel the policy and receive the money that has been accumulated over the years.
USE LIFE INSURANCE FOR ESTATE PLANNING
Life insurance can also be used as an estate planning tool, especially if your goal is to preserve wealth for future generations. This type of policy covers one or two lives; the cash generated by these plans typically helps your heirs pay estate taxes and provide otherwise.
Now you have to decide how much coverage you need to provide the amount of income your family will need in the event of your death. After all, your goal in purchasing life insurance most likely is to ensure that income continues for those who are now dependent upon your income.
WHO NEEDS LIFE INSURANCE?
It also is important not to ignore the need for life insurance protection in a single or dual income family. The death of either spouse could create a financial strain on your family.
About The Author
Ivon T. Hughes of The Hughes Trustco Group is a licensed Insurance Broker. Author of The Life Insurance Handbook. Get a FREE Copy TODAY! Email: info@trustco.ca Web: http://www.hughestrustco.com
|
Save Money On Auto Insurance
Save Money On Auto Insurance
by: Matthew C. Keegan
You just received your most recent automobile insurance bill and it has gone up once again. More than 10%, in fact! A little gecko is clamoring for your business and so are a handful of other companies that you even no less about. So, what should you do? Switching insurance carriers is one option, but before go through all the hassles of making a change, let?s first take a look at five ways you can reduce insurance premiums instantly.
Bump Up Your Deductible. You can gain instant savings by increasing the deductible you are willing to pay. You may find a $1000 deductible for collision to make more sense and save you a considerable amount of money in the long run.
Receive Discounts. If you park your car in a locked garage, have an alarm system installed, possess an excellent driving history, etc., make certain that your insurer is aware of all of this. Your premium should be adjusted downward...
Save Money On Auto Insurance
Auto insurance > Save Money On Auto Insurance
How to Save on Car Insurance
How to Save on Car Insurance
by: Robert Rogers
Are You Still Paying Too Much for Car Insurance?
Everyone who owns a car needs auto insurance. This article will give you some tips on lowering your auto insurance costs. You will find a checklist of items to ask your insurance agent that may qualify for discounts. Keep in mind that not all discounts can be applied with all insurance companies in all states.
1. Shop Around
Go to your favorite search engine and type in "free car insurance quotes online". You'll see a long list of insurance companies that you may even be familiar with. Visit at least five car insurance websites and look for a link to free quotes. You will then be asked basic information about yourself, your driving history, and your car's make, model, and year. It just takes a couple of minutes, and shortly thereafter, they will email you a no obligation quote. Write down their website address, their toll free number...
How to Save on Car Insurance
Auto insurance > How to Save on Car Insurance
How to Save on Car Insurance
How to Save on Car Insurance
by: Robert Rogers
Are You Still Paying Too Much for Car Insurance?
Everyone who owns a car needs auto insurance. This article will give you some tips on lowering your auto insurance costs. You will find a checklist of items to ask your insurance agent that may qualify for discounts. Keep in mind that not all discounts can be applied with all insurance companies in all states.
1. Shop Around
Go to your favorite search engine and type in "free car insurance quotes online". You'll see a long list of insurance companies that you may even be familiar with. Visit at least five car insurance websites and look for a link to free quotes. You will then be asked basic information about yourself, your driving history, and your car's make, model, and year. It just takes a couple of minutes, and shortly thereafter, they will email you a no obligation quote. Write down their website address, their toll free number...
How to Save on Car Insurance
Auto insurance > How to Save on Car Insurance
HDTV ? The High Resolution Television
HDTV ? The High Resolution Television
by: Gagandeep Dhaliwal
The expansion of hdtv is High-definition television. The hdtv means television signals broadcast with a higher resolution than traditional formats like NTSC, S?CAM, PAL. The hdtv is broadcasted digitally, except for early analog formats in Europe and Japan.
Historically, the term high-definition television was also used to refer to television standards developed in the 1930s to replace the early...
plasma tv Life Insurance Scenarios HDTV ? The High Resolution Television Auto insurance
Auto insurance > HDTV ? The High Resolution Television
Millionaire Minds, Money, Fulfillment And Conscious Reflection
Millionaire Minds, Money, Fulfillment And Conscious Reflection
by: Terry Vermeylen
Fulfilled, millionaire minds avoid parasitic weaknesses such as insecurities, bad habits, self-doubts and disgruntlement. Yet our economy feeds off of human weakness: You must live the dream; you must reach higher up the ladder to have a higher standard of living; you need to have an Ipod with video, and that house with more square feet will make you feel a cut above your friend....
Life Insurance Scenarios plasma Auto insurance
Auto insurance > Millionaire Minds, Money, Fulfillment And Conscious Reflection
Life Insurance Scenarios florists
Home Decorating: Where Are My Surfaces?
Home Decorating: Where Are My Surfaces?
by: Keller Hawthorne
Many of you probably remember visiting your grandma's house as a child. I can still see how my grandmother had decorated her home. Every inch of surface and space was filled! The mantle, the kitchen counters, and of course the floor. She was a self-proclaimed pack-rat! When you walk into a home drowning in "stuff", it immediately bombards you and creates overwhelming vibes. So, how do we show every...
Life Insurance Scenarios
Auto insurance > Home Decorating: Where Are My Surfaces?
Debt Consolidation: BE DEBT FREE--The different ways to consolidate your debts.
Debt Consolidation: BE DEBT FREE--The different ways to consolidate your debts.
by: Mike Clive
A debt consolidation loan is a loan taken to consolidate a number of loans into one manageable loan. A debt consolidation loan can also help you in reducing the cost of your total debt as it usually carries a lower rate of interest than other loans, such as personal loans, credit cards, car loans, etc. A debt consolidation loan with an extended loan period can reduce...
Life Insurance Scenarios Debt Consolidation: BE DEBT FREE--The different ways to consolidate your debts.
Auto insurance > Debt Consolidation: BE DEBT FREE--The different ways to consolidate your debts.