Life is so ironic it takes sadness to know what happiness is, noise to appreciate silence and absence to value presence...
Know the facts before you say - "I don't need it":
While advances in medical science have significantly improved your chances of surviving a heart attack, cancer, stroke or other critical illness, the fact remains that 75% of healthy individuals over age 40 will become critically ill at some time in the future:
Sources 2015 Heart and Stroke Statistical Update, American Heart Association; 2015 Cancer Facts and Figures, American Cancer Society.
Paying the premium is not the problem
Paying the premium is the solution
A goal without a plan - is just a wish
If your answer was "No" for at least one of the questions listed above - then you should plan on obtaining a solutions that will satisfy your needs
Choosing the right type of life insurance can be confusing, but it's also an important decision.
Here are some guidelines that can help you narrow down your best life insurance options.
If you think your financial needs may change, you may also want to look into "convertible" term policies.
These allow you to convert to permanent insurance without a medical examination in exchange for higher premiums.
Keep in mind that premiums are lowest when you are young and increase upon renewal as you age. Some term insurance policies can be renewed when the policy ends, but the premium will generally increase. Some policies require a medical examination at renewal to qualify for the lowest rates.
Keep in mind that premiums for permanent policies are generally higher than for term insurance. However, the premium in a permanent
policy remains the same no matter how old you are, while term can go up substantially every time you renew it.
A universal life (UL) insurance policy is more flexible than other permanent policies, so you can customize it to fit your lifestyle.
Whole life insurance provides affordable permanent protection for your family and has a savings component that builds cash value.
Something to consider: The California Guarantee Association will provide 80% or up to $250,000 in reimbursement for your
health or life policy IF your original insurance provider goes out of business.
This means that as long as your premiums are paid or cash value exists, you will receive reimbursement.
To learn more about the State Guarantee click HERE
No person ever dies at the right time, do they?