term – Susman

February 7, 2015

Affordable Life Insurance!

So, you’ve decided to purchase life insurance. Well then, you have made a good decision! If you have dependents, you know that you must provide for them long after you are gone. Buying life insurance shouldn’t be a budget buster either. Take a look at the following options which can help you save big time!

Shop Online: There are several companies that will give you free life insurance quotes right online. By entering your personal information, the amount of insurance coverage desired, and policy terms, you will receive within moments sufficient quote information. Naturally, you will want to talk to an agent at some point, but at least you will get a very good ballpark figure to consider. Some good sites for you to visit include: Insure.com; SelectQuote.com; ReliaQuote.com, IntelliQuote.com; and InsWeb.com. There are many others, so do some comparison shopping.

Types of Life Insurance: There are four types of life insurance plans from which you can choose: Term Life, Whole Life, Universal Life, and Variable Universal Life.

Term Life is the most affordable as it lets you lock in a fixed rate for the length of the policy [typically 10 or 20 years], but it does not have any cash accumulation. So, the only way it pays is if you die!

Whole Life offers policy holders lifetime coverage, guaranteed level premiums, tax-deferred accumulation of cash values. In other words you can borrow off the policy if you need the cash.

Universal Life offers policy holders Lifetime coverage, flexible premiums and death benefits, tax-deferred accumulation of cash values. Rates are adjustable.

Variable Universal Life offers lifetime coverage, flexible premiums and death benefits, tax-deferred accumulation of cash values, a selection of investment options. Rates are adjustable.

Contact an Agent: Once you have determined which type of insurance is best for you and your family, contact an agent for further guidance. If you received an acceptable life insurance quote online, follow through with it to allow an agent to contact you personally. This person will go over your policy and discuss with you the various types of companies offering coverage. If you are satisfied and want to proceed further, the agent will order a comprehensive medical exam that can be done in the convenience of your home or office at no charge to you! About four to six weeks later the results will be in and if all goes well, coverage will begin almost immediately thereafter. At no point are you obligated to accept coverage until you sign a contract.

More Savings: Do you want to save even more money? Pay the premium all at once. Monthly or quarterly payments usually carry a surcharge. By paying the entire premium in advance you can save around 5%.

Providing for family members after your death is one of the most important reasons to include life insurance as part of your financial planning. You can receive your free life insurance quote by shopping online today; don’t delay!

September 20, 2013

Benefits of Term life insurance

Life insurance isn’t a topic everyone wants to talk about, but it’s a subject that cannot be avoided. People spend countless hours searching the internet, for what they consider to be the best insurance plan, for their needs. However, people have divided opinions when it comes to choosing the right insurance.

Choosing the right insurance plan is not as easy as buying a new pair of shoes, and taking them back for a refund. Shoppers can lose thous ands of dollars, before they realize just how wrong their insurance policy is for them. Insurance companies try to sell products that will meet the needs of individuals, families and businesses.

The insurance market has a lot of great products to offer consumers who are shopping for affordable insurance. Some consumers like the incentives and perks associated with owning a term life insurance policy. Term life insurance is great on so many levels, and nearly everyone qualifies. Now, that’s something to get excited about.

Term life insurance offer higher payout amounts and hassle free ways to qualify. While whole life policies require a physical or mental exam to qualify, term life does not. In fact, the majority of term life insurance plans do not require a physical.

Whole life insurance policies won’t pay off, if their applicants die within two years of purchasing their policy. Term life generally pays off right away. Term life is cheaper in terms of payments, and coverage. Individuals can apply for 1, 5, 10, 15, 20, 25, or 30 year policies.

Term life insurance has easy to underst and terms. People who are on a budget can purchase term life insurance, and still get the coverage they want. Younger people might not be too enthused with term life, because term life policy has an expiration date.

If the policy owner is 20 years old and buys a 30 year policy, after 30 years the policy expires. If the owner of the policy is still alive, another policy can be obtained, but at a higher rate. However, if the policy owner is 50 years old, and buys a 30 year policy, chances are a relative or friend might be cashing in on the policy, before the 30 years are up.

Buying insurance is simple, once everyone knows what they need, not what they want. Older people do better buying term life insurance. Since term life insurance is so affordable people use it has an investment tool, or a planning tool for the future.

Death is certain and unexpected; but in the meantime, why not get affordable coverage on the entire family. Families who are planning to send their kids to college, but can’t afford the high payments associated with whole life, usually purchase term life insurance for a specific amount of time.

Shopping for insurance is like shopping for clothes. Individuals can find cheap term life insurance, at prices they can afford. Many insurance companies offer free quotes and free applications on their website. Term life insurance pays in addition to any other insurance coverage. The younger a person is when the policy is purchased the less money the insurer has to pay to start coverage.

June 6, 2013

Why I Love Term Life Insurance

I love term life insurance because it helps to secure my future in case something happens to me. It will protect my loved ones from financial disaster should I die.

I love term life insurance because I can get it at a fixed rate and is renewal when the term expires. Term life insurance is least expensive to obtain, so it fits better into my budget. My term life will help to replace my income should I decease. It will help to pay off a number of things so as not to be a burden on my family. It will take care of my debt, medical care, student loans, end of life expenses such as funeral costs and my mortgage.

If I bought a term policy for one year and I am told that I am going to die within one year, the death benefit is paid. No death benefit is paid if I were to die one day after the term should end. It is not likely that I will ever chose one year policies unless the doctor said I had less than one year to live.

At terms end, I can renew my life insurance or convert it to a permanent type life insurance.

January 14, 2013

Get 40 year term insurance at the lowest prices

When you meet the special someone in your life, your priorities change. When you have your first child, you want to make sure that you are there to watch the first steps, their first sports game all the way high school and college graduation. Most importantly, you want to make sure that if you can’t be there for your family, that they will be well take take of in the unlikely event of your death.

Get Peace of Mind with Your Life Insurance Policy

The purpose of life insurance is to give you and your family peace of mind in the unthinkable event of your death. That’s why we offer 40 years of guaranteed life insurance. This 40 year insurance policy will be there with you every step of the way. When you watch you children grow up into young adults, throughout your career and beyond the point when they start their own families.

40 years is enough time for you to pay off your mortgage and give your family the life you have always dreamt for them. In 40 years you will be near or at retirement age, making your life insurance policy secure and lucrative for the next generation.

Get the Rates that Won’t Empty Your Bank Account

While you are insuring your future, it is important to note that you should not be overpaying for your 40 year life insurance in the mean time. We offer the best prices for 40 year life insurance out of any insurance agency. With a 40 year life insurance policy you will not see the rate increases that you would with a 5 year or 10 year term policy.

We guarantee lower prices than any of our competitors. With a 40 year life insurance you can guarantee the coverage you need at a premium price that will not cost an arm and and a leg. If you are interested in learning more about a 40 year term life insurance policy talk to one of our representatives today.

UPDATE: THE 40 YEAR TERM PRODUCT IS NO LONGER AVAILABLE. WE HAVE OTHER PRODUCTS THAT CAN BE MADE TO FUNCTION AS A 40 YEAR POLICY, ASK US HOW!

January 8, 2013

Term Life is Simple

Life is complicated enough without having to deal with all the confusing information about insurance. It seems like you have to know about car insurance, home insurance, personal liability policies and a vast array of other important insurance products. There is one type of policy that is easy to get and not confusing to underst and. Here are some things to know about the simplicity of term life insurance.

The Simplicity of Term Life Insurance

There are different types of life insurance that many people can choose from. The easiest one to underst and is term life insurance. Here are a few easy to underst and points about the policy.

These kinds of policies are very affordable and are usually cheaper than any other options on the market.
You usually do not have to have a physical performed for this type of policy.
Term life insurance is usually bought for a set number of years. For instance, you can get a one year policy, a five year, 10 year and other longer amounts of time.
The policy owner can still designate who gets the policy benefits in the event of their death.
You pay premiums for the amount of time the policy is in force. Once the term of time has elapsed the policy expires and the payments stops.
As the policy ends the policy holder may have an option to extend the coverage for a set amount of time.
Consult with your agent if you feel the need to extend your coverage.

Term life insurance really is an easy choice for protection. Many major corporations will offer this type of policy to their employees as a benefit. Always consider your options before making a choice of the length of time for your policy. Choose the time period that is right for you.

January 6, 2013

More People Are Choosing Term Life Insurance Over Other Types Of Coverage

Words like term life insurance are always popping up in television commercials or during family conversations when your overactive teenager does some extreme sport that makes you wonder if life insurance is in his immediate future. But what exactly is term life insurance, and is it the right insurance for you?

What Is Term Life Insurance?

The simplest definition is given by Business Dictionary, which states that "term life insurance is an insurance policy that only stays in effect during a specific timeframe or until the person who is insured reaches a certain age." This means you are not obtaining a life insurance policy for your entire life or up until the day you die. Instead, you can choose how long the policy runs, anywhere from 5 years up to 40 years.

Once the "term" period ends, the policy becomes canceled unless the insurer passes away during the time period the policy covers. Then the beneficiaries get the full face value amount without having to pay any taxes on the money, according to Fox Business. Depending on the insurance company, you may be able to convert the term life policy into a permanent policy when the term period is about to end.

Why People Like Term Life Insurance

Term life insurance is a no-frills policy. You are only getting life insurance coverage, and you have more control over how many years the policy will cover. This is different from other types of life insurance policies where the insurance company also tacks on an investment component, making the policies more expensive, according to Smart Money.

People like term life insurance because it can go toward paying off debts, a mortgage or a child’s college education. Premiums are inexpensive, making it ideal for people who want to have life insurance but have limited budgets. Although you can’t grow any cash value to this policy over time, it can be a supplemental policy to other life insurance you have. Another bonus is that many term life policies don’t require a medical examination.

March 25, 2011

Life Insurance—How Much Is Enough?

You are probably aware of the importance of having enough life insurance coverage to h andle the financial contingencies that may affect your family in the event of your death. However, determining the necessary amount of life insurance can be complicated. One general rule of thumb is that you should have enough coverage to equal five to seven times your annual salary. However, you may want to determine the “right” amount of life insurance coverage with a careful “needs analysis,” rather than using an arbitrary formula.

The needs analysis approach incorporates an evaluation of your family’s most important financial obligations and goals. This leads to planning insurance coverage to help address mortgage debt, college expenses, and future family income, as well as to provide liquidity for meeting future estate tax liabilities.

Mortgage Debt

The first point worthy of consideration is whether your life insurance proceeds will be sufficient to help pay the remaining mortgage on your home. If you are carrying a large mortgage, you may need a sizable amount. If you own a second home, that mortgage should also be factored into the formula.

College Expenses

Many people want life insurance proceeds large enough to help cover their children’s college expenses, and possibly, graduate school. The amount needed can be roughly calculated by matching the ages of your children against projected college costs adjusted for inflation. This calculation should be revised periodically as your children get closer to college age, and it may be a good idea to be as conservative as possible when estimating long-term savings goals.

Continuing Income for Your Family

The amount of income you will need to help provide for your surviving spouse and dependents will vary greatly according to your age, health, retirement plan benefits, Social Security benefits, other assets, and your spouse’s earning power. Many surviving spouses may already be employed or will find employment, but your spouse’s income, alone, may not be sufficient enough to cover the monthly expenses of your family’s current lifestyle. Providing a supplemental income fund can help your family maintain its st andard of living.

Estate Taxes

Life insurance has long been recognized as an effective method for establishing liquidity at death to pay estate taxes and maximize asset transfers to future generations. However, this use of life insurance requires qualified legal expertise to help ensure the proper results.

Existing Resources

If your current assets and retirement plan death benefits are sufficient to cover your financial needs and obligations, you may not need additional life insurance for these purposes. However, if they are inadequate, the difference between your total assets and your total needs may be funded with life insurance.

There are many factors to consider when completing a needs analysis. In addition to the areas already mentioned, some other questions you might want to address include the following:

1. How much will Social Security provide and for how long?

2. How do you “inflation-proof” your family income, so the real purchasing power of those dollars does not decrease?

3. What is the earning potential of your surviving spouse?

4. How often should you review your needs analysis?

5. How can you use life insurance to help provide retirement income?

6. How do you structure your estate to reduce the impact of estate taxes?

7. Which assets are liquid and which would not be reduced by a forced sale?

8. Which assets would you want your family to retain because of sentiment or future growth possibilities?

As you develop an insurance strategy, remember to analyze your existing policies. Calculate the additional coverage you may need based on your family’s financial obligations and any other resources, such as retirement benefits and savings. Remember, having the proper life insurance coverage can play a major role in any family’s financial protection.

This article appears courtesy of Karl Susman. Karl Susman is a representative of the New Engl and Life Insurance Company. He focuses on meeting the individual insurance and financial services needs of people on the West Coast. You can reach Karl at the office at (424) 785-4337. New Engl and Life Insurance Company, 501 Boylston Street, Boston, MA 02116

MetLife, its agents, and representatives may not give legal or tax advice. Any discussion of taxes herein or related to this document is for general information purposes only and does not purport to be complete or cover every situation. Tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You should consult with and rely on your own independent legal and tax advisers regarding your particular set of facts and circumstances.

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