Life insurance is a financial product for indemnification, income and inheritance planning. All financial purchases must first determine product suitability for the buyer. If your financial liability is temporary, then term life insurance is the main consideration. If your financial liability is permanent, then term life insurance is the main consideration.
Indemnification and inheritance are death benefit solutions. An income scenario is cash accumulation solution. For tax advantaged income current assumption universal life has three crediting method options for long term savers and investors: interest rate, indices and separate sub accounts that use market equities and bonds. If the policy is designed with the lowest TAMRA compliant death benefit option, the potential for income is increased.
To know which life insurance is right for you, you really need to sit down with an insurance professional who offers a variety of products, and let him/her help you figure it out. I have seen a number of people put in hours of research and worry over what type of life insurance to get, then when they called us to buy it, their health did not qualify them for that type of policy.
If you are working with someone who carries a lot of different companies, along with different types of policies, you will be able to find something that works best for your age, your health, your need and your budget. Just 15 minutes on the phone or meeting somewhere can help so much.
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Indemnification and inheritance are death benefit solutions. An income scenario is cash accumulation solution. For tax advantaged income current assumption universal life has three crediting method options for long term savers and investors: interest rate, indices and separate sub accounts that use market equities and bonds. If the policy is designed with the lowest TAMRA compliant death benefit option, the potential for income is increased.
If you are working with someone who carries a lot of different companies, along with different types of policies, you will be able to find something that works best for your age, your health, your need and your budget. Just 15 minutes on the phone or meeting somewhere can help so much.