Independent Life Insurance
The main advantage of using an independent life insurance agent versus doing business online or over the telephone with a major carrier is personal service. In an age when nearly every communication is automated, it is refreshing and reassuring to talk to a real live individual who has your best interests at heart. In the decision making process, it may help to discuss personal issues and the pros and cons of different policies with an independent life insurance agent who is familiar with the policy holder's unique situation or circumstances, rather than punching menu keys when prompted by a recorded voice. Agents also have the ability to search for the best products at the lowest premiums and tailor policies to include more flexible options.
Choosing life insurance is one of the most important decisions one has to make, and making the wrong decision could costs thousands. While it doesn't take a rocket scientist to understand terms and clauses, having someone walk through the policy and explain features enables families to make informed decisions. The very worst scenario is for an individual to purchase a policy and pay premiums for years, only to have surviving family members discover that the coverage was inadequate or expired due to the insured's age at the time of death. And while the cost of coverage might be higher due to services rendered by an independent life insurance agent, some individuals and families may feel that a personal touch for such a sensitive issue is well worth a little more money. In times of grief and sorrow, Jesus Christ can offer compassion, hope, and consolation. "For we have not an high priest which cannot be touched with the feelings of our infirmities; but was in all points tempted like as we are, yet without sin. Let us therefore come boldly unto the throne of grace, that we may obtain mercy, and find grace to help in time of need:" (Hebrews 4:15-16).
One crucial issue when deciding to purchase coverage is choosing between a whole life and a term policy. An independent life insurance agent may take the time to clarify the difference between the two, but it is relatively easy to remember the distinction. Think of whole life policies as one for which premiums can be paid throughout the lifetime of the insured. Many parents opt to purchase whole life policies for infants and young children. Whole life premiums cost more, but money paid into the policy accumulates over time and part of the funds can be withdrawn for college tuition, retirement, or healthcare expenses.
The decision to buy a term policy from an independent agent might be based solely on the need to take care of final expenses. The insured or their beneficiaries are not concerned about saving money for college or retirement; but only in having sufficient funds to bury loved ones and pay off outstanding debts which could otherwise burden survivors. Because term policies are generally for final expenses plus debts, premiums are usually less than whole life. The face value of a term policy will depend on how much money an individual desires to leave beneficiaries, family or friends whom the policy holder designates as the payee of cash assets upon death. Independent life insurance agents work with the insured and their families to tailor provisions, select beneficiaries, and choose affordable rates from a wide variety of companies.
An independent agent can also help steer individuals and families towards policies that do more than provide burial expenses. The amount of coverage depends largely on how much money the insured wants to leave behind to insure that spouses and family members' financial needs are met. Considerations such as paying off a mortgage or automobile loan, reducing or eliminating credit card accounts, or addressing outstanding medical bills, especially in case of chronic illness or long-term acute care, may be discussed with an astute agent. Some mortgage loans may already have survivor clauses which pay off home loans upon the death of the mortgagee. Similarly, the insured may have contracted with an automobile lien holder to have car payments paid off in the even of death or disability. An independent life insurance professional can help families examine all legal documents, loan papers and contracts to assess total indebtedness before deciding how much coverage to purchase. The worse case scenario is to discover that a loved one has passed with a tremendous amount of debt and no funds to repay loans. Surviving spouses have lost homes, vehicles, and valued possessions simply because of a failure to plan. The decision to purchase life insurance may be a tough one, but planning can spare families a lot of emotional and financial grief.
Heads of households should buy sufficient policies to provide for survivors and maintain the standard of living to which they are accustomed. Premiums should also be included in the monthly budget and should not create a burden on family finances. Policy holders should read the fine print to determine provisions for cashing in whole life policies and whether any penalties will be imposed. Individuals who opt to cash out are usually only entitled to a portion of the face value of the coverage. An independent life insurance agent can advise the insured as to when and how to cash in on policies. Age also plays an important part, as some policies reduce or curtail coverage as individuals age; and certain older adults may become un-insurable. Making a very personal decision about what kind and how much coverage to buy can seem out of most people's comfort zone; but it just takes common sense and an independent life insurance agent willing to lend a helping hand.
Choosing life insurance is one of the most important decisions one has to make, and making the wrong decision could costs thousands. While it doesn't take a rocket scientist to understand terms and clauses, having someone walk through the policy and explain features enables families to make informed decisions. The very worst scenario is for an individual to purchase a policy and pay premiums for years, only to have surviving family members discover that the coverage was inadequate or expired due to the insured's age at the time of death. And while the cost of coverage might be higher due to services rendered by an independent life insurance agent, some individuals and families may feel that a personal touch for such a sensitive issue is well worth a little more money. In times of grief and sorrow, Jesus Christ can offer compassion, hope, and consolation. "For we have not an high priest which cannot be touched with the feelings of our infirmities; but was in all points tempted like as we are, yet without sin. Let us therefore come boldly unto the throne of grace, that we may obtain mercy, and find grace to help in time of need:" (Hebrews 4:15-16).
One crucial issue when deciding to purchase coverage is choosing between a whole life and a term policy. An independent life insurance agent may take the time to clarify the difference between the two, but it is relatively easy to remember the distinction. Think of whole life policies as one for which premiums can be paid throughout the lifetime of the insured. Many parents opt to purchase whole life policies for infants and young children. Whole life premiums cost more, but money paid into the policy accumulates over time and part of the funds can be withdrawn for college tuition, retirement, or healthcare expenses.
The decision to buy a term policy from an independent agent might be based solely on the need to take care of final expenses. The insured or their beneficiaries are not concerned about saving money for college or retirement; but only in having sufficient funds to bury loved ones and pay off outstanding debts which could otherwise burden survivors. Because term policies are generally for final expenses plus debts, premiums are usually less than whole life. The face value of a term policy will depend on how much money an individual desires to leave beneficiaries, family or friends whom the policy holder designates as the payee of cash assets upon death. Independent life insurance agents work with the insured and their families to tailor provisions, select beneficiaries, and choose affordable rates from a wide variety of companies.
An independent agent can also help steer individuals and families towards policies that do more than provide burial expenses. The amount of coverage depends largely on how much money the insured wants to leave behind to insure that spouses and family members' financial needs are met. Considerations such as paying off a mortgage or automobile loan, reducing or eliminating credit card accounts, or addressing outstanding medical bills, especially in case of chronic illness or long-term acute care, may be discussed with an astute agent. Some mortgage loans may already have survivor clauses which pay off home loans upon the death of the mortgagee. Similarly, the insured may have contracted with an automobile lien holder to have car payments paid off in the even of death or disability. An independent life insurance professional can help families examine all legal documents, loan papers and contracts to assess total indebtedness before deciding how much coverage to purchase. The worse case scenario is to discover that a loved one has passed with a tremendous amount of debt and no funds to repay loans. Surviving spouses have lost homes, vehicles, and valued possessions simply because of a failure to plan. The decision to purchase life insurance may be a tough one, but planning can spare families a lot of emotional and financial grief.
Heads of households should buy sufficient policies to provide for survivors and maintain the standard of living to which they are accustomed. Premiums should also be included in the monthly budget and should not create a burden on family finances. Policy holders should read the fine print to determine provisions for cashing in whole life policies and whether any penalties will be imposed. Individuals who opt to cash out are usually only entitled to a portion of the face value of the coverage. An independent life insurance agent can advise the insured as to when and how to cash in on policies. Age also plays an important part, as some policies reduce or curtail coverage as individuals age; and certain older adults may become un-insurable. Making a very personal decision about what kind and how much coverage to buy can seem out of most people's comfort zone; but it just takes common sense and an independent life insurance agent willing to lend a helping hand.
Independent Life Insurance
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Reviewed by Anonymous
on
3:30 PM
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