Is Life insurance as an expense or an investment? Some people never examine the details to learn about the investment opportunities that Life Insurance offers. It’s not just a way to cover unavoidable and unplanned painful expenses, but can also make you money. Meet with a broker to see how you can come out ahead financially without dying.
Are You Single?
Many single people don’t need it. Some do if they don’t want to leave behind their debts, or some singles are supporting aging parents who need their care. That expense needs to be protected.
Buying life insurance when young is less costly. The older you get the more likely you could be refused life insurance due to health issues.
Planning to have a family? Be smart buy coverage before pregnancy, besides where would your spouse be if you died tomorrow? Bills, loans, rent, mortgage, credit cards, car loans keep on coming. Tax free life insurance death benefits can go a long way to solving financial problems for whoever is left behind.
Married with Kids?
Now your concerns include providing a daily living until the kids leave home, education costs, and provide for your spouse’s retirement.
Small Business owner?
Will you succeed or fail due to inadequate planning? There are five ways out of business, bankruptcy, poor health, death, succession or sell it. Our life insurance brokers can help you position yourself for any possibility.
Life insurance has to provide all needed funds without the help of a spouse. You may need to structure your insurance with layers; short term, midterm, and longer term to make it affordable. Our brokers can answer any questions for you.
Stay at Home Parent?
Don‘t overlook the replacement cost. To hire someone to cover the contributions of a stay at home partner can be expensive, plus if they aren’t there you may have to take more time off work. Life insurance can ease that financial stress.
Depending on how big and how complicated your estate is, your heirs may have to pay up to 45% in taxes.
If they have to sell assets they may only get a low bargain price, however if they pay taxes cash with Tax Free Life Insurance death Benefit they won’t be forced to sell assets until later when they have time to prepare.
Your spouse may need to replace any pension income that will die when you die.
Many people use life insurance as an investment portfolio. There are many tax benefits and guarantees when used properly place life insurance very favourably against other investments. Smart Choice Life brokers can show you the advantages if you qualify. Believe it or not, a young person would be well advised to check this out also.
Smart Choice Life has brokers ready to answer your questions.
Gordon@SmartChoiceLife.com www.SmartChoiceLife.com Ph (506) 454-3346
Gordon, the is a certified Financial Planner with over thirty years experience. He has been helping families and small businesses since 1991. He is also a published financial author and wrote a weekly financial advice column in the Daily Gleaner newspaper for five years.