The risk of a wrong decision is preferable to the terror of indecision…. Maimonides
January is here, and we get to make those New Year’s Resolutions! Well, how do you come up with a good new year’s insurance topic? What makes it a subject of insurance? What is relevant to life is how I look at it. Well, Insurance can help you when you need to be aware of the risk in a person’s life. One example is going without any medical coverage. Since that is my last month’s topic, I am going with the one certain insurance policy every human should have. The one absolute risk we all face as humans on this large rock is death. I know few people want to think or discuss the subject, yet LIFE INSURANCE is a gift of LOVE! Moreover, life insurance is a commitment and more than just a way to offset risk.
Life Insurance can mean more to a loved one than you will ever know. It is an entirely unselfish act of leaving a legacy. Ask yourself do you want your home protected? Will a child be able to have a college education? What about an organization you love that you would remember? The statistics for the USA show that over 70% of the population under 65 or underinsured. If you answered yes to any of the previous questions, please have a professional quote you with an affordable solution.
If you have a professional life insurance advisor see them yearly. Make sure you have all the necessary coverage for your needs.
Here are a few tips on Life Insurance
· There are two main types of Life insurance. The first is term life which provides temporary coverage. Usually 10, 20, to 30 years. So at age 36 which is a set time of a 30-year life policy. The plan terminates the coverage on your 66th birthday.
· The other type is permanent coverage, which provides coverage for the rest of life. Many call this whole life. In this category or Universal life plans as well.
· Both of these main categories have different kinds of policies. More than I have room to discuss.
Term life focuses on affordability. Many folks call this mortgage protection insurance. Insurance policies like these term plans were the standard. Term plans were the cycle and culture in the USA in the fifties up until the late nineties. A couple would buy a home or, start a family and that meant, you would get married and call your local insurance professional. Times have changed, but the need for protection is still around even if it is the 21st century. The risk is involved in every decision we make.
The need for a qualified benefit professional increase when you are looking for what can be one of your biggest decisions.
How much personal insurance do you need and how do you space the insurance to fit into your budget. One big suggestion when you decide on a life policy, you need to keep it. Every minute of every day your age and rating goes up in price. The big problem we face today is people waiting until their health is an issue. The underwriting questions today with many of the A+ companies limit a large segment of the population from being eligible for coverage.