Sears Insurance

  • About Us
  • Contact
  • Blog
  • Health
    • Good to Know
    • ACA
    • Individual under age 65
    • Individual over age 65
    • Large Group (51+ lives)
    • Small Group (1 – 50 lives)
  • Dental & Vision
  • Disability
  • Life
  • Long Term Care
  • Strategic Alliances
  • Publications
  • Newsletter
  • Testimonials
  • WELLMARK MEMBERS NOW HAVE $0 COST SHARE FROM HOME

Life Insurance

  • Estate planning
  • Income Protection
  • life insurance
  • Low Premium
  • Tax Deferal

When people think of life insurance, they think of what does it cost for a funeral.

What I think when I hear the word life insurance is – what are my needs, what are my wants, because there are multiple kinds of life insurances used for multiple purposes. For example, term life could be used for covering a specific obligation for a specific period of time – think of a 30 year mortgage, think of “I would always want my children to maintain their lifestyle and education”. Term insurance is typically inexpensive as compared to your other choices.

Business succession planning could also be a place where this is utilized. For instance, I buy “Joe’s Ice Cream Parlor”, and our contract calls for payment in full by the end of the 5th year. To insure Joe that he would receive that payment, life insurance on myself, with Joe as the beneficiary, would be something that Joe should make a part of the transaction.

A more permanent life insurance option would be whole life. Whole life generally costs more, underwriting can be different – ages of issue and death benefits can vary, but this product is typically used to provide a guaranteed death benefit in exchanged for guaranteed premium payments. Premiums pay for the cost of insurance protection and create cash value on a tax deferred basis.

In the environment we are in today, generation two may have quite an unexpected expense to receive their parent’s hard-earned assets. As an example, life insurance can be used in this case to provide immediate cash so that the assets can be maintained (property taxes, insurance, utilities, upkeep, etc.) until such time that asset can either be transferred into a beneficiary’s name, or sold at fair market price rather than a “fire sale” for less than value to meet the financial needs.

We are an independent agency. We quote different carriers so we can “do your shopping for you”. We carry nothing but the best of the best and always try to meet your budget.

If your mother or father happens to have an asset to debt ratio of near nothing or zero, they have funds invested either in bank products or “in the market”. Bank products are extremely low rates of return, subject to taxation and probate. Market funds, on the other hand, are 100% speculation. And include fees, and taxation on any possible gains. So, the happy medium for safe, nest egg money is tax-deferred fixed annuities.

Visit lifehappens.org to calculate your life insurance needs.

There are many milestones in life, are you reaching any of them? Have you considered  your changing need for life insurance?

Related Posts Plugin for WordPress, Blogger...
Debbie SearsMarch 23, 2015

Post navigation

Individual Retirement Arrangements → ← Safe Haven for Nest Egg Money

Related Posts

Permanent Life Insurance

Permanent life insurance is also referred to as whole life. Whole life is by no means the least costly, but it is insurance that you cannot outlive. The goal with […]

Term Life Insurance

Is just that. It has a start and an end date. Term insurance is used for specific intentions such as covering a mortgage or seeing a child through college years. […]

Get Your Valentine a Belated Gift From the Heart with Life Insurance

Let me explain why. Life insurance is not for you. It’s for those that you love. And we all need it. As our life changes from being so poor that […]

Life Insurance Awareness Month

September is Life Insurance Awareness Month to help educate Americans about the importance of life insurance and as a rallying point for the industry. Please take the time to listen […]

Recent Posts

  • HEALTH INSURANCE TRENDS Since the COVID-19 Pandemic
  • EMPLOYERS HAVE MUCH TO CONSIDER When Creating Their Team
  • 2021 BRINGS A FEW NEW CHANGES for Individuals and Business Owners
  • HEALTH CARE INSURANCE CHOICES ~ Ok, Boomers, this one’s for you!
  • HEALTH CARE INSURANCE CHOICES

Recent Comments

  • Debbie Sears on Is My Group Health Insurance the Right One for My Business?
  • Back pain relief on Is My Group Health Insurance the Right One for My Business?
Powered by WordPress | theme Diamond