For immediate comparison quotation and purchase of term life insurance, we offer a search engine with a wide range of carriers. Simply, click on the term life quote button at the bottom of the home page on this document and follow the instructions.
If you or someone you know needs assistance in these areas please call our office or contact us by E-mail. We offer the best products and professionals available to assist you in making the right decision.

II. Making the Right Choice

It has been said that life insurance buys time. It does so by providing an income tax free benefit directly to the designated beneficiary when premature death denies the necessary time to earn income for support.
While the triggering event is easy to understand, appropriate selection with respect to the surviving beneficiaries best interest can create substantial confusion and argument. The three most important questions you need to know are the following:

• How much is needed?
• What kind should you purchase?
• From what carrier and licensed professional?

To search for the correct answers to these important questions you and your family would profit by gaining some understanding of the fundamentals. However, to become truly knowledgeable in the field, requires a lifetime commitment and superior technical expertise.

III. Evaluating the Advisor

The person you should select should be recognized by others in their field, as a person who understands how to handle monetary decisions on the basis of a lifetime financial partnership. The two easiest ways to determine this are:
First, you can ask trusted friends for their recommendations concerning financial advisors. Additionally, you should be furnished meaningful references and/or testimonials from the advisor for you to contact.
Second, check for membership in financial service organizations along with professional designations which usually will reflect higher professional standards along with extensive training and experience.

IV. Selecting the Right Company

Hopefully, if you have made the right choice for your professional advisor, he or she will take the time to inform and educate you with respect to the carriers and alternatives you should consider.

Unlike property/casualty insurance wherein carriers on automobile and home insurance can be changed with ease, the careful selection of a life carrier is of critical importance. There are thousands (yes thousands) of life insurance carriers offering a wide variety of coverages, premium calculations, and financial security. Because change is inevitable, the insurance carriers selected must offer long term security and competitive cost especially with respect to permanent plans.

V. Term versus Permanent

There are various schools of thought along many debates about which one provides the best choice. Because we see a need for one or both, our conclusion is it depends on the individual specific set of circumstances.
Term insurance offers the most coverage over a limited period of time with the lowest monthly cost. Most common use is for younger individuals who have large economic exposures (families, personal and/or business debts) wherein funds are limited.

Concerning term insurance, we recommend purchasing policies that are guaranteed renewable and convertible. Renewability gives you the right to renew for a period of time without having to prove you are insurable (medical examination for requalification). Convertibility allows you to convert your term product in whole or part to a permanent policy without medical examination. While convertibility does not preserve age, the flexibility offered as your needs change over time is a truly valuable benefit.

Whole life or permanent plans are designed to “smooth” premium for lifetime exposures. Normally, the permanent plan will cost more than its term counterpart but does offer the lifetime coverage that a term policy is unable or too expensive to provide in later years due to health and/or advancing age issues. The most common usage of permanent plans is for final expenses, business succession, estate planning, and/or tax advantaged, creditor protected discriminatory savings vehicles.

VI. Summary

P.S. On the subject of how much life insurance is needed the quick quiz below can be used for a general guideline.

PSS. And do not forget the importance of disability and long term care. Statistically speaking, you are 4 times more likely to lose a home or business due to illness/injury. Call us direct if you would like us to provide you with a no obligation professional review and quotation for this valuable coverage.

Warning: Please note, completion of a form is not an offer to bind. Rather, an offer to bind involves an agreed premium, acceptance by a specific insurance carrier, and the payment of premium on a specified date.
If you are unclear concerning the purchase of insurance through us, please contact our agency manager Delilah Vaughan.