Have You Reviewed Your Life Insurance Lately?

June 29, 2009 by · Leave a Comment
Filed under:  

When was the last time you took a serious look at your life insurance coverage. Life insurance was created to provide cash for your family in the event of your death. The goal being to provide your beneficiaries a means to ease the financial burden that results from the death of a parent or spouse. The beneficiaries may choose to use the benefits of a life insurance policy in any way they choose, such as paying for funeral expenses, covering mortgage payments or investing the proceeds and taking systematic payments to augment income. Generally, the death benefit from a life insurance policy is paid free of any federal tax.

One of the most important questions to ask when evaluating life insurance needs is the amount of coverage needed. Many financial planners recommend an amount of five to seven times gross annual salary as a guideline when purchasing life insurance, but as with all things in life, each family’s goals are different. It is always best to take an inventory of your family’s current financial situation and then try to evaluate future needs. Listing current and anticipated future expenses, as well as income sources is a good place to start. If there are children, you might want to consider the cost of their education. The younger the children, the more of a need for coverage, due to the length of time they will be dependent on one parent, in the event of a death of a parent. Of course, this is exactly the time when a family may have the least amount of income available for insurance!

This is why there are different types of policies available. The two broad categories of life insurance are:

· Term Life Insurance

· Permanent Life Insurance

Term Life Insurance provides protection for the pure cost of insurance for periods of 5, 10, 15, 20 or 30 years and is usually significantly less expensive than permanent insurance. The death benefit is only paid if you die during the specific term of the policy. At the end of the term, the policyholder may be able to convert to a permanent policy or begin a new term, at a higher cost.

Permanent Life Insurance provides protection as long as you continue to pay your premiums, which can be fixed or tailored to your specific needs. Permanent policies include Whole Life, Universal Life and Variable Universal Life. These policies have a “cash value” feature, which means part of the premiums go into an account which builds up monetary value over time. This is why the cost of a permanent policy is higher than term. Many times a combination of the two types of policies can provide coverage and savings in stages for a lifetime. Feel free to contact me if you would like to review your insurance needs.

John Kaighn

http://www.articlesbase.com/business-articles/have-you-reviewed-your-life-insurance-lately-132652.html

Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks

Tags:

  •  

    Why is it a must to Colon Cleanse?

    The more we indulge in unhealthy diets and food leaden with preservatives and chemicals, the more taxed our colons become! This is why it is imperative to give our colons a break every once in a while, by indulging in a colon cleanse. A colon cleanse assists our bodies in getting rid of the toxins, resulting in much cleaner insides! A good colon cleanse prevents constipation, and lessens the risk of developing colon cancer. Along with regular colon cleanses, it would also be advisable to ingest a diet rich in fiber. This is helpful, not only in the prevention of constipation but the start of eating a healthier diet as well!

    Sleep Aid RemediesYou Must Try!

    Sick of sleep deprivation? You are not alone! Countless others suffer from sleep disorders due to one reason or another, mostly related to stress. To help you sleep, sleep aid remediesof all kinds are available anywhere and everywhere! It is good to do your research, as there different things give relief to different people, with warm milk and prescription sleeping pills ranking high in popularity. Herbal infusions, herbal teas and soothing baths are also quick fixes, lulling the body into a state of relaxation. While it may be good to experiment, one must be careful not to get carried away with over counter pills! These pills still contain dangers and can be detrimental to one's health!

    Preventing Menopause Symptoms!

    If it were not for the nasty symptoms that accompany it, menopause would probably not be a big deal to most women. Unfortunately, menopause usually manifest with night sweats and hot flashes in tow, making it potentially embarrassing for any menopausal women to go out in public!
    To counter these horrible manifestations of menopause, a natural and safe progesterone cream called Hot Flash Freedom has a raving fan base of "I used to be miserable" women. This is designed to counter hot flashes and night sweats! Many women are rejoicing, having found relief from hot flashes. They claim that Hot Flash Freedom can really stop hot flashes and night sweats! If you are one suffering from Menopause, then this product is definitely worth trying!

    Ideal Dentists in the Country

    I am sure that there are plenty of ideal dentists in the country, but here are just 3 examples that I want to tell everyone about! My Glastonbury Dentisthas always impressed me with his gentle manner and the great way he treats his patients! A Richmond Dentist, Dr, Charles Martin, is also equally brilliant. His expertise is what really keeps his patients coming back! I can truly say he is among the most talented Richmond Dentists out there! For those located in QuincyDr. Matazarro is a Quincy dentist that can put an end to your teeth problems. Lastly, in Kauai, Dr. Clyde Ishida is considered a wonderful Kauai Dentist. His patients really speak well of the services he provides for them. Do you have a great dentist in your area? Who do you recommend?

    A Stress-free Retirement

    A retirees common problems are disposing of a home they can no longer maintain and finding a home within a community that they will love. We have solutions for both problems! For the first, a sell house fast website is a quick solution that will give clients a wider client base that can span the entire country!

    For the second problem, an Assisted Living Decatur arrangement will more than suffice.Check online to find great, modern communities filled with perks like california synthetic turf golf courses riding stables, and exclusive retiree-only gated communities! These communities have proven to be an excellent backdrop for retirees excited to start new adventures!

    Business Finance OptionsFor The Start-Up

    Thinking of launching a start-up? Why not? Successful companies like Flower Essences once started out as start-ups! If you have a great idea, then you should really consider bringing it to life by taking a look at your business finance options! It might do you well to see what kind of funding you can expect from another party. Who knows? They might be able to come up with an arrangement that could work for you, and allow you to be your own master!

    Tips to a Successful Online Business

    To run and manage a successful online business takes some serious internet savvy. Not everyone is able to get it right! From the get-go, we definitely advise to consultwith a website designer to create a site that excellently markets your product. Next, you must focus on Search Engine Optimization to get your website noticed in the search engines! SEO is the method to do just that and more! A great example is this Environmental Services Company. They have covered both website and SEO bases so they can expect good traffic daily. Don't you want your website to enjoy the same position?

    How to Always Get SportsTickets

    For a family filled with sports addicts and kids, sports tickets along with a Disney Guide will always prove to be popular, and not to mention, easy gifts to get!

    A source for your Leafs tickets, Ranger Tickets, Celtic Tickets, Kings Tickets, Red wings Tickets, Dodger tickets, Magic Tickets, Heat Tickets, Angels Tickets, Charger tickets, Nationals Tickets, Cardinal Tickets,Packers Tickets, Giant Tickets, Seahawk Ticks, Raven Tickets, Clippers Tickets, Chief Tickets, Thunder Tickets, Redskin Tickets, Cowboy Tickets, Texans Tickets, Raider Tickets , Viking Tickets, Dolphin Tickets and 49ers Tickets online. It's the easiest way to get your family something that they are bound to love and remember forever!

    I, for one, always go online to buy by sons Ranger Tickets. Since every game is different, we make new memories every time! They love me for it!

    Professional Water Damage Cleanup Saved Our House

    I’ve experienced water damage at work but water damage in your own home is much worse. Thankfully, I didn’t have to deal with the water damage that we had at work but finding that a pipe had blown at our house was a real experience. I needed to get things back to normal as fast as possible for my kids. You wouldn’t believe the property lost; it ranged from books to gadgets to kitchenware. It’s hard to believe that so much damage could come from water. I tried to get started with the water damage cleanup right away but it became obvious pretty fast that I was out of my depth. Our neighbour kindly gave us a number of a water damage Orlando restoration company that could help us out. It was pretty late and I was afraid that they’d be closed. It turns out that these restoration companies are often available 27/7 which kind of makes sense since disaster strikes at any time of the day or night. They gave me a free telephone consultation. They responded pretty fast and they got the house cleaned up a lot faster than I could have ever managed. They also offered insurance billing services and I was glad to take them up on it. Not having to deal with insurance is definitely a load off. I’m glad that I have their number to call in the future. Hopefully, nothing like this ever happens again, but it’s better to have a number to call in case it does.