Brian Gruss - Insurance Planner …Has
Your Best Interests at Heart
Life Insurance
is a contract to pay benefits upon the death of a person.
A life insurance policy is the contract between an insurance
company and the person who is the owner of the policy. Life
insurance is a sensible and cost-effective way to protect
your family. Life insurance is most often needed by your dependents
to replace your income in the event of your death. It can
help to pay for immediate expenses at the time of death, such
as medical bills, debts and burial costs. Life insurance is
designed primarily to protect your family’s financial
security after you die. But some types of life insurance can
also help you build assets to meet needs during your lifetime.
The most
basic life insurance (most popular nowadays) is term life
insurance. Term life insurance is very easy to understand,
you choose a death benefit, and a period of time (usually
10, 15, 20, or 30 years), if you die during that time your
beneficiary receives the death benefit. If you follow any
financial gurus like Dave Ramsey, this is the only type of
insurance they recommend. With a simple phone call, I can
quote several different companies to you, and with some of
the life insurance companies I can take an application right
over the phone.
Universal
life insurance is permanent insurance that provides protection
in case of death, as well as a savings or cash value component.
The cash value of a universal life policy is based on the
amount of premiums you pay, the declared interest crediting
rate and the policy charges of the insurance company. Universal
life insurance is another way to plan for your financial security.
So you can help protect your future, as well as your family's.
Universal life insurance is also called adjustable life insurance.
Remember that, with permanent life insurance, some of your
premium is invested. Universal Life Insurance is a good choice
for people with incomes and expenses that fluctuate a great
deal from year to year.
Whole
life insurance is permanent insurance, much like term life
you name the benefit, but there is no period of time. Whole
life insurance, is the most expensive type of life insurance
to purchase, unless you are buying a final
expense policy which is also a whole life policy.
Call
me for a free review of your life insurance needs.
