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If life insurance buying is approached in the proper manner it
can be very beneficial to yourself and your family. You need to
take the time to give some thought to a subject that can be very
unpleasant. I guess that is why most people don't think about
it, or at best think about it only after they have had a brush
with death, or when a life insurance professional brings up the
subject.
Sometimes these people wait until it is too late to do something
about such a critical matter. They find themselves uninsurable
when they discover they have some critical illness. People
should give
>life insurance buying serious thought at least once per
year as ones situation may change and you find that your need
for life insurance may change as a result.
These are the questions any good life insurance agent would ask.
Your answers would help him or her come up with an accurate
amount that would be a perfect fit for you. Here are the
questions.
Should I buy life insurance to pay for funeral expenses when I
die or do I prefer to have this taken from accumulated cash?
Do I need a policy to pay estate taxes? This is for people with
an estate in excess of $1,500,000. Estate taxes may be repealed
in the near future. The congress is looking at this matter at
the present time.
Do I want to leave a lump sum for my family and how much? If the
beneficiaries are well practised in handling large sums of money
then this may be a good idea, otherwise, it may be wise to
provide an income.
What about an income? Should I set up an income for the lifetime
of the beneficiary, or should the income derived from the
proceeds of the life insurance policy be paid out for a limited
number of years? Should I let the insurance company hold the
principal and pay out an income to the beneficiary?
How about life insurance on my spouse? Would that be a good
thing? What about the children, is there a need for life
insurance?
If you have a business, is there an employee that you could
consider a key person? Should you have some life insurance on
him or her? If your business partner died, what would happen to
his shares? What would happen to his family?
Ask yourself these questions when doing your life insurance buying and you will know whether or not
you need life insurance, and if you do, how much you should buy.
About the author:
For more than 40 years Donald has been known for his extensive
knowledge of the life insurance business. He has studied the
work of all of the greats from Ben Feldman and Frank Bettger to
Joe Gandolfo. He has represented some of the largest and best
life insurance companies in the United States as well as Canada.
His advice is invaluable.
Donald website is life insurance hub
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