If you’re like me, you have thoughts rushing through your head that were not ‘front and center’ a few weeks before our current reality unfolded. One of them might be, “Do I have adequate life insurance, or is it even possible to get insurance now?”
Two main things we are hearing from our clients: Concern for their health and well-being, and principal protection during volatile markets.
Did you know that we often use specific planning techniques that address both of these concerns? A properly structured insurance policy can provide:
- tax-advantaged growth
- principal protection from market losses
- financial stability provided by a well-capitalized financial institution
- Protection for your family in the event of death
- Early access to benefits for long term care or chronic illness
- Creditor protection (certain states)
If you’re reading this and suddenly feel the urge to stop because the process of life insurance has always been daunting…
Insurance companies have made the application process even EASIER, with most going completely digital. Some major carriers are even considering accelerating the underwriting process, meaning no physical and no blood or urine work.*
If you own a business, it’s vital that you have life insurance. This covers your obligations so your hard work doesn’t go to waste – or to the IRS.
One of the excuses people tend to make for not buying life insurance is the cost. But truthfully, coverage often ends up pretty affordable for most people. In any event, if your life insurance policy was written years ago and you haven’t had a comprehensive review of it lately, it might be time to revisit. Schedule time with us to find the best policy for you and your legacy.
*The ideal candidate for accelerated underwriting is someone who is in the age range and seeking a policy amount within the limits the insurer allows. The applicant should also have no major medical conditions (such as cancer, diabetes or hypertension) and no biological parent or sibling who died from heart disease or cancer before age 60. Healthy blood pressure and cholesterol levels are also key.
Certain non-health factors also matter: You should have no history of bankruptcy in the last five to 10 years, no history of driving recklessly or under the influence within five years, no more than two moving violations in the past three years and no felony charges or convictions. Requirements vary by insurer