There are many reasons to purchase life insurance.
The question I should be asking is, why not buy life insurance? It is not just for young families or for the very old, it's for everyone.
Whether you have five kids or no kids; a house and a car, or just a dog.
You need it! There are many different types of life insurance.
I am going to explain a couple of those now and also what they are best suited for.
Term Life is an inexpensive form of insurance that only lasts for a fixed period of time.
You pay into it each month and once the term is up, that's it.
That might not sound like a great deal, but it really is.
It is protection for less, limited protection, but still protection.
The price of whole life is astronomical compared to term.
So, my husband and I both have thirty year term life.
We know that if we stop paying it, we will lose it.
The reason we have it though, is because we have a daughter and a house and things we would like to protect if one of us were to die.
We have term because we know that later on we will be able to be self insured.
We both have great careers and multiple rental properties and we love saving, so we know that our daughter and future children will inherit quite a bit when we die.
But, until that happens, we want to have our term life insurance just in case.
In my opinion, every new family should get at least term life insurance.
If something were to happen to you, or your spouse, you would want to have money for the children and house to be cared for.
Another inexpensive form of life insurance is final expense whole life.
This is something that is meant to pay for a funeral and burial in the event of one's death.
It is difficult to think about, but each and every one of us is going to die one day.
I know that when I pass, I do not want to leave the funeral expenses for someone else to pay.
That is why everyone should have at least enough life insurance to cover whatever kind of funeral they would like to have.
Final expense life insurance is very affordable and it is a whole life policy, so it has cash value that can be borrowed against if need be.
Forester's Life Insurance Company allows someone to take out an interest free loan from their final expense policy if they are diagnosed with a critical illness.
That money can be used for whatever the policy holder would like to use it for.
But, any whole life policy can be surrendered for its cash value.
One of my favorite types of life insurance is Universal Life.
The reason I love it is that it is not as expensive as whole life, not as cheap as term insurance BUT it has a cash value and a surrender value plus a guaranteed interest rate, so you are NOT LOSING money!! I believe people should get Universal Life when they are YOUNG!! I wish I could convince every twenty something in the world to get a UL policy.
They would really appreciate the advice twenty years from now.
I represent many different life insurance companies, but one company's UL product stands out above all others.
That is Forester's Smart UL.
The reason is that it has a high cash value, low rates and along with this policy you get Forester's member benefits.
The benefits include a critical illness lump sum of $2000, use of a lawyer for advice and making a will, smart money advice, orphan scholarships, single parent scholarships and more.
The question I should be asking is, why not buy life insurance? It is not just for young families or for the very old, it's for everyone.
Whether you have five kids or no kids; a house and a car, or just a dog.
You need it! There are many different types of life insurance.
I am going to explain a couple of those now and also what they are best suited for.
Term Life is an inexpensive form of insurance that only lasts for a fixed period of time.
You pay into it each month and once the term is up, that's it.
That might not sound like a great deal, but it really is.
It is protection for less, limited protection, but still protection.
The price of whole life is astronomical compared to term.
So, my husband and I both have thirty year term life.
We know that if we stop paying it, we will lose it.
The reason we have it though, is because we have a daughter and a house and things we would like to protect if one of us were to die.
We have term because we know that later on we will be able to be self insured.
We both have great careers and multiple rental properties and we love saving, so we know that our daughter and future children will inherit quite a bit when we die.
But, until that happens, we want to have our term life insurance just in case.
In my opinion, every new family should get at least term life insurance.
If something were to happen to you, or your spouse, you would want to have money for the children and house to be cared for.
Another inexpensive form of life insurance is final expense whole life.
This is something that is meant to pay for a funeral and burial in the event of one's death.
It is difficult to think about, but each and every one of us is going to die one day.
I know that when I pass, I do not want to leave the funeral expenses for someone else to pay.
That is why everyone should have at least enough life insurance to cover whatever kind of funeral they would like to have.
Final expense life insurance is very affordable and it is a whole life policy, so it has cash value that can be borrowed against if need be.
Forester's Life Insurance Company allows someone to take out an interest free loan from their final expense policy if they are diagnosed with a critical illness.
That money can be used for whatever the policy holder would like to use it for.
But, any whole life policy can be surrendered for its cash value.
One of my favorite types of life insurance is Universal Life.
The reason I love it is that it is not as expensive as whole life, not as cheap as term insurance BUT it has a cash value and a surrender value plus a guaranteed interest rate, so you are NOT LOSING money!! I believe people should get Universal Life when they are YOUNG!! I wish I could convince every twenty something in the world to get a UL policy.
They would really appreciate the advice twenty years from now.
I represent many different life insurance companies, but one company's UL product stands out above all others.
That is Forester's Smart UL.
The reason is that it has a high cash value, low rates and along with this policy you get Forester's member benefits.
The benefits include a critical illness lump sum of $2000, use of a lawyer for advice and making a will, smart money advice, orphan scholarships, single parent scholarships and more.
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