2. Permanent Life Insurance
Level premiums: Premium payments can remain the same.
In later years, premiums can be lower than term.
Coverage can last a lifetime.
To provide an accessible source of tax-free funds: Accumulates cash value that can be used for retirement, college education, or emergencies.
Tax advantages: Properly funded and structured, can provide a tax-free income stream and tax-deferred wealth accumulation.
Universal: has flexible coverage and premiums.
Whole Life: guaranteed to give coverage for the insured's entire lifetime.
Most companies will allow conversion from term to permanent insurance and vice versa
“Living Benefits” can keep your family financially strong in times of financial stress.
33% say they don't have enough life insurance including 1/4 who already have a policy.
While 84% of Americans surveyed agree that we need life insurance, less than 60% of them actually have it, and 40% wish that they had more coverage.
Life insurance “you don’t have to die to use” can come to your rescue in case of critical, chronic, or terminal illness.
Life Insurance is divided into two broad categories
1. Term Life Insurance
Initial Lower Cost: Premiums can be lower during the early years of coverage.
The Need for life insurance isn't permanent: lasts for a limited, pre-determined number of years. Commonly called "Time Insurance" because it provides for specific, short-term needs.
Convertible: Option to switch to permanent life insurance coverage without having to show evidence of good health.
70% of all households said they would have trouble covering everyday living expenses after several months if the primary wage earner died.
Life turns on a dime. You have no idea when you’ll “need” insurance. That’s why it’s important to plan ahead.
Cancer, Heart Attack, Stroke, ALS, End Stage Kidney Disease, Major Organ Transplant, Blindness, Major Burns, Loss of Limb, Paralysis, Severe Central Nervous System
33% say they don't have insurance, including one-fourth who already have a policy
Life insurance may be one of the most important purchases you’ll ever make
Almost half of U.S. households are underinsured, with the average coverage gap of $200,000.
HEART ATTACK – 1,255,000 Americans suffer heart attacks every year. 17,600,000 Americans alive today have survived a heart attack! In the United States someone has a heart attack every 34 seconds
STROKE – Each Year 795,000 people suffer strokes every 40 seconds. Many end up with permanent disabilities.
CANCER – 3.5 million new cases a year. Average cost $146,000. Over 65% of expenses are indirect and not covered by traditional insurance. More than 13,500,000 people living today have survived cancer.Type your paragraph here.
50% of men and 33% of women in the United States will suffer from internal cancer during their lifetime
You do not have to die for life insurance to work.
70% of the US population will suffer a critical, or chronic illness such as Heart Attack, Stroke or Cancer by the time they are 65. Most will live, but many will be financially crippled in the process.
Life Insurance can protect your family and business!
86% say they haven't bought life insurance because it's too expensive, yet overestimate its true cost by more than 2x.