Key man life insurance is a very often overlooked, yet extremely crucial piece of risk mitigation for small and large businesses. Let’s step away for just a moment and imagine a scenario where it was not in place, so you can better understand why it’s needed. A small business, we’ll call it ZYX Widgets, has two.. Read More
What Types of Life Coverage Are Superior? It Depends.
There are several types of life insurance which could potentially be a solution, but it doesn't mean they are the right one. For example, would a young person want a simple term policy or a complex whole life insurance policy? Would a budding business be better off with a 10-year, 20-year, or 30-year term?
And oddly, those are the easy questions. When you start adding more complex situation, there are more complex solutions. Now you can throw these into the mix: variable, indexed and survivorship policies. Erm, what?
If you really want to blur the lines, annual renewable term policies and return of premium contracts will really muddy the water, but they do have very apparent advantages when used properly. This is why choosing the right type of policy is crucial.
Make the right decision, and you'll save time, save money, and save yourself a serious headache down the road.
Decreasing Term Life Insurance
Many Americans are familiar with traditional term and whole life insurance policies, but may not be knowledgeable about specific types such as decreasing term life insurance. With standard life insurance, you pay a premium, and if you die while the policy is in force, the stated death benefit is paid out to your beneficiaries. In.. Read More
Accidental Death and Dismemberment Insurance – AD&D Insurance
When discussing life insurance, it’s necessary to bring up the topic of accidental death and dismemberment insurance as they can go hand-in-hand for several different reasons. Also called AD&D, it’s a special insurance policy which only pays out under strict circumstances where death occurs by way of an accident. Often confused with traditional life insurance,.. Read More
Is Whole Life Insurance A Good Investment?
When shopping for life insurance, your agent or broker may begin pushing whole life insurance as an investment that will benefit you in the long run. For consumers who do not like the idea of “throwing away” money on term coverage, permanent whole life insurance offers an alternative because the accumulated cash value can be withdrawn.. Read More