term – Susman

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 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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Get 40 year term insurance at the lowest prices

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