The Main Life Insurance Benefit You Can Look For in an Insurance Policy

Every person who looks to safeguard his or her future will purchase the services of an insurance policy. A large number of people actually believe that a life insurance policy is mainly meant for people with families. This is mainly due to the fact that the beneficiaries of a life insurance policy are usually the family members of the policy owner. But the main life insurance benefit is that it entails a stable sense of financial security for you and your loved ones for a future time period.

Prominent life insurance benefits include:

Protection of Assets

From the point of view of the investor, a life insurance policy or contract can provide appreciation of asset value and protection of assets. Unlike other insurance policies that provide asset appreciation benefits only, a life insurance benefit includes the feature of asset protection along with appreciation of assets. This is a very important benefit of a life policy that you should keep in mind.

The core benefit of a life policy is the fact that it ensures a safe guard of the financial interests of your family in the case of some misfortune that befalls you like a critical illness or death. As a policyholder, you will be sure to avail the wealth creation benefactors that come attached with insurance products. This means, as an insurance holder you can purchase for more than just the main features of your particular insurance policy. An insurance policy comes with great investment options for the investor.

Savings That Are Goal Based

Another important life policy benefit is that it helps you achieve your goals. Every person has some goal or the other in his or her life. To achieve this goal it is usually important to save money. A newly married couple would say that their goal is to purchase a new house to start their new life. Higher education for a child might another goal for another couple. For a person about to retire, planning for a financially secure life might be another goal. Thus, financial goals always play a very important part in your life. Thus, an insurance plan that you invest in should help you to achieve these goals. And it should also provide you with corresponding benefits that are suited to your goal achievement.

Life insurance is the only vehicle that provides the right kind of investment option that is ideally suited to help you achieve your goals. Life policies can be tailor-made to help you through the different important stages of your life including your retirement.

Thus, it can be said that another main life benefit is that it can be made to reflect the definite requirements of the investor at various stages of his or her life. In other words, achieving the financial goals of your life is ensured with the help of a life insurance policy.

There is no doubt that the main benefits of a policy are something that you should keep in mind before thinking about other investment options.

How To Find Affordable Life Insurance Policies

All of us try to make our future secure. More than that we all try to make our family`s future secure. Though we are leading a peaceful and well settled life sometime we get awed by the unseen thought that if some untoward happen to us and our happy and secure family may come on the road. To think negative is not a good habit but so many such incidents happen in front of us every day that we can not avoid thinking about ourselves and get worried. So, to guaranty our and our family’s future we go for life insurance policies. But, here comes the question as which policy is affordable for us.

Before speaking about affordable life insurance policies it is necessary to first categories the section of people for whom the policies are meant for. Normally, there are three sections of people in our society i.e. rich, middle class and poor.

The poor sections are satisfied if they get their daily meal, some clothes and a shelter. They earn on daily basis and buy daily food for the family. They can hardly think about their future security. Further, they are not so aware about life insurance policies. If they are little bit literate then they keep some saved money in the bank.

In a middle class family the main source of income is job, agriculture or small business. The middle class people are the most aware about life insurance policies as they feel not so safe about other investment policies. These days, almost all the grown up members in a middle class family are well educated and earning either taking job or some other fields. So in such cases it is easy to take affordable life insurance policies for them. They should prepare a monthly budget of all the essential expense. Suppose an individual can save Rs 2000/- per month then he can choose Rs 12000/- half yearly premium policy. After deciding the amount of premium as how much you can afford it is to decide as which type of policy you want to go for. In the market there are so many types of policies like critical illness cover, accident cover, education, to protect the assets etc. So we can decide as which one suits us. Normally, only the head of the family worry to go for life insurance policies. But if the children are also working or earning it is better if they can also go for such policies according to their income.

As the rich section of people has big properties vast empire of business they normally have their own consultant for investment. Still, it is better for them to insure their property buy life insurance policies for self and family members to guaranty a secure future, as no one knows what happens tomorrow.

As we know that the amount of premium of life insurance policies is exempted from income tax it is always wise to calculate the income tax before going for the policies. This will do double profit of tax saving and a secure future as well.

Life Insurance Settlements – Unlock the Cash From Your Life Insurance Policy Today

A life settlement, or the sale of a life insurance policy, is gaining popularity as a new opportunity for seniors to generate cash. By “cashing in” a life insurance policy, one can reap the rewards of an immediate cash payout without lapsing or surrendering the policy to the insurance company.

Faced with rising insurance premiums, increasing cost of healthcare and long-term care, more seniors today are choosing to sell their policies to third parties for a lump sum payment. Rather than let their policy lapse, seniors have the option of cashing out early and enjoying a higher quality of life.

Seniors can use the cash they receive from the sale to help pay for medical expenses, long-term care expenses, or everyday living expenses. Additionally, seniors are using the “unlocked” cash to travel, invest in a business or new property, or support their children and grandchildren. There are no restrictions or limits to how the cash may be used once the policy is sold.

How does it work?
Seniors who are over 70 and own a policy worth over $200,000 can sell their policy to an insurance buyer, otherwise known as life insurance broker or life settlement brokers.

By purchasing the whole, term, or universal life insurance policy, the buyer becomes the new policy owner. This means that the buyer takes over the premium payments and ultimately collects the full amount of the death benefit.

Who benefits?
As the policy holder, seniors may enjoy a higher cash payout upfront and the savings when the buyer takes over the ongoing insurance premium payments.

What’s the catch?
There is no catch. Settlements are legal and legitimate. Life insurance buyers are able to offer a cash payout because of the structure of their businesses and the financial market.

What should I know before considering a settlement?
The ideal time to sell a policy, otherwise known as taking a life settlement, is when:

1. The policy holder is over age 70
2. The policy is worth $200,000 or more
3. The policy holder is chronically ill, and/or their health is declining
4. Additional cash is needed to pay for cost of health care of long-term care
5. Policy holder is experiencing financial difficulties or needs additional funds to improve the quality of life
6. There is difficulty paying the premiums and are at risk of lapsing the insurance policy
7. The senior would like to remain financially independent

How much money can I expect to receive?
The lump sum payment will be determined on a case-by-case basis. It depends on a number of factors, including age and medical condition, the type and value of the policy and the premiums required to keep the policy active. A no-obligation appraisal of your policy can be requested before making the decision to sell it.

Any policy owner, including individuals, corporations, charities or trusts, may sell any insurance policy, including group and term policies.

What types of life insurance policies can be sold?
Universal Life, Whole Life, Variable Universal Life, Term, and Convertible Term Life policies, Joint and second-to-die policies are all policies eligible for sale.

How long does it take to get the funds once my policy is sold?
A general time frame is four to eight weeks to receive funds though the timing can vary. The buyers work to complete the process as quickly and efficiently as possible so that the money can be released to our clients as fast as possible.

Will I owe taxes on the money I receive?
Generally, the money received from selling the insurance policy will be tax-free up to the original policy’s tax-basis. Consult with a tax advisor regarding your specific situation.

How do I find a buyer for my policy?
Experts at http://www.LifeInsuranceBuyer are committed to achieving the highest value for their client’s insurance policies. Serving their clients with integrity and respect, Life Insurance Buyer offers free, no obligation, confidential policy appraisals for all qualified individuals. Contact Life Insurance Buyer at 1-800-LI-BUYER or 1-800-542-8937 to discuss your policy.