Insurance For Seniors
This post entitled Life Insurance For Seniors has YOU in mind, if you are in your 50’s, 60’s, 70’s and even 80’s, and are looking for inexpensive life insurance for seniors. Or perhaps you are looking for life insurance for funeral expenses. If you find yourself without life insurance and wish you had purchased it earlier in life, it is not too late. You are not alone either. At Insurance Globe Partners, we frequently come across seniors, who, for whatever reason, do not have life insurance and who would like to avoid passing the financial burden of their final expenses to their children and other love ones. After the death of a loved one, many families are faced with unexpected expenses, including medical bills, funeral expenses, legal fees and unpaid bills. Our goal as independent life insurance agents is to work with our clients and help them with life insurance policies for seniors to eliminate as many financial risks as possible; including the financial risks that come with one’s passing.
TERM LIFE INSURANCE OR WHOLE LIFE INSURANCE?
Whether you are in your senior years, or earlier in the life cycle, if you are looking for life insurance to take care of those dear to you after you pass on, financial advisers overwhelmingly agree that the smart financial choice is Term Life Insurance. While today there are many life insurance products to consider, the main choices usually are either Whole Life Insurance or Term Life Insurance. Both Whole Life Insurance and Term Life Insurance, on the death of the insured, pay the face amount of the policy to the beneficiary. The most significant difference between both types of insurance is that with Term Life Insurance the entire amount paid for the premium goes to buy life insurance protection. With Whole Life Insurance, on the other hand, a portion of the premium goes to pay for life insurance protection and an additional amount of premium goes to a type of savings plan. Consequently, with Whole Life Insurance the premium amount is greater. One question to consider is whether whole life insurance is the right savings vehicle for you. It may be, or it may not be. It depends on your particular situation which you may want to discuss with your licensed life insurance agent. Call our Miami number (786) 353-2528 – or Our Toll Free Numbers=English: (888) 950-8376; or Spanish: (888) 510-1557
SIMPLIFIED ISSUE WHOLE LIFE INSURANCE
This product is a No Exam Whole Life Insurance policy with whole life insurance benefits, one of which is that it accumulates value over the life of the policy. It is a permanent policy, not a term policy. The premium amount and face amount remain level for as long as the premium is paid as due and on time. While it is a whole life policy, the policy main objective is to provide life insurance protection, not to accumulate value, even though it does accumulate some value. Consequently, the value it accumulates is not nearly as much as the value a traditional whole life policy accumulates. You can qualify for Simplified Issue Life Insurance by answering a limited number of health questions (no medical exam required) and making payments based on the amount of funding needed to obtain the amount of coverage that you require. Call us at English: (888) 950-8376; or Spanish (888) 510-1557.
GRADED BENEFIT WHOLE LIFE INSURANCE FOR SENIORS
For individuals who are not in perfect health, Graded Benefit Life Insurance may be the answer. You can’t get turned down because there are no medical questions, no medical examinations and no medical tests. Your protection is permanent and your premiums are guaranteed to remain level. There are limitations, however, on benefits paid the first two or three years of the policy. In most cases benefits in connection with claims made the first two or three years of the policy are limited to return of premiums paid plus interest. Thereafter, benefits are paid up to the face amount of the policy, assuming, of course, that premiums have been paid in-full and on time. Issue ages are usually up to age 80 and in amounts up to $50,000.
If you have been turned down for life insurance because of health-related issues, we may be able to help you obtain the best coverage available for your specific situation. Medical problems such as high blood pressure, heart disease, high cholesterol, diabetes, sleep apnea, high/weight situations, etc., may place you in a “rated” category, making it either impossible or very expensive to obtain life insurance. If you think that you may be a high risk applicant and would like us to help you explore your life insurance options, please click on the REQUEST FOR FREE CONSULTATION button that appears below and complete and forward same to us. As soon as we receive it, we will contact you and one of our licensed agent will start working with you ASAP! Call us at English: (888) 950-8376; or Spanish: (888) 510-1557
ESTATE PLANNING AND ESTATE TAXES
Estate planning involves preparation for the disposition and/or distribution of your assets upon your death. A good estate plan will:
- Ensure that your wealth reaches the individuals, or organizations, you select in the manner you choose.
- Minimize the effect of federal and state taxes
- Guarantee that the settlement costs are paid without jeopardizing your family’s inheritance
If you are like most people, you will work your entire lifetime to accumulate assets, such as a home, cars, savings, real estate, investments, etc. The relatively small amount of time and money required to create an estate plan will help ensure that your assets are passed on – with the best possible tax consequences – to your beneficiaries.
Perhaps because of the issues involved in estate planning, namely, death, incapacity and taxes, we tend to avoid doing our estate planning. The fact is, however, that no matter what your age is or how much wealth you have accumulated, you need an estate plan to protect yourself, your loved ones and your assets, now when you are still active and alive as well as after your death. Before visiting your attorney and/or accountant, you may want to have a basic understanding of the issues and documents involved in estate planning. Please, contact us at Miami number ((786) 353-2528; or our Toll Free Numbers = English: (888) 950-8376; or Spanish: (888) 510-1557; or email firstname.lastname@example.org.
We look forward to the opportunity of helping you find competitive senior life insurance rates and thus eliminate some of the financial risks in your life!