What everyone wants for their family is that when they die their family is taken care of, hence life insurance. Life insurance will provide a sum of money when a loved one passes away to help with living costs and other costs such as funerals and burials.
But aside from the obvious benefits when the policy holders dies there are a number of benefits for whilst the policy holder is alive too, called “living benefits”. One of these benefits is long-term care expenses. When someone is diagnosed with a terminal illness there is a good chance that the burden of constant care would be too much for other family members so hiring a carer or moving to a care home may be the only option.
The trouble with residential care is that it can run up massive bills, having an insurance policy that covers long-term care can save any future financial disasters. Another feature that people are urged to seek out is an automated premium monitoring program, this would protect the client from unknowingly lapsing a policy. The last thing you’d want is to forget that a payment needed making and finding it too late.
In general when we get a life insurance policy we don’t want to be stressing over its details and what it covers and what it doesn’t. We basically want to be able to live our lives without worrying about how our families are going to be looked after once we’re gone.
It is important to note that different insurance companies have differing levels of payouts and can vary drastically from one company to another, so when getting life insurance make sure you look around and try and get the best cover for you and your family.
Wordpress
March 2, 2010 at 2:58 am
that’s real talk, girl
WPMixer
March 2, 2010 at 3:12 am
Well said. Well done.
pennylanegal
March 2, 2010 at 3:27 am
I think you are right. I feel like he should have one – but I can sort of understand his hesitation…have you ever seen the show Snapped on Oxygen network?
Procastinating lazy liars
March 2, 2010 at 3:31 am
The problem with life insurance is that people don't fully understand it, so they believe everything the life insurance agent says.
Life insurance is suppose to be use as a protection of income, not as a tool to use for future goals. Reason why many life insurance companies sell cash value products is because they are more profitable than to selling term.
The problem with cash value is that when you die, your beneficiary will get the death benefit, but not the cash value. If you live to age 98, you are no longer covered, but you get the cash value. How many people do you know that actually live to age 98? Of those people at age 98 or above, how many are actually sane enough to know they even had life insurance in the first place?
You are correct that investments should be kept separate from life insurance, but the insurance agent is not going to show the client why it should be kept separate. Buying term and investing the difference is the most cost effective thing a person can do. Check out this blog about the cost between term and whole life: http://obe231.blogspot.com
When people read that blog, buying term and investing the difference would make more sense.
Free Blog
March 2, 2010 at 1:29 pm
This isn’t for me…but keep doing what you love!
Bloom
March 3, 2010 at 3:28 pm
Assuming each choice is lettered in successive order:
1.B
2.A
3.B
4.C
5.D
6.A
7.C
8.A
9.C
10.C
WPBlog Shop
March 3, 2010 at 9:44 pm
I’m glad you enjoyed. anytime!
-Johlae
Blogger
March 3, 2010 at 11:15 pm
totally luv how u look and wat u say totally beautiful and sexi im totally feeling u sweetie, much luv and respect
Click Here
March 3, 2010 at 11:23 pm
My dear, every child naturally wants to believe that Mommy and Daddy are the next thing to God. I was very lucky with my parents. Like most real human beings, they had feet of clay, so to speak, but they did the best they could at all times, and they honestly loved every one of their six children. They made some mistakes, but later admitted these and apologized for each one of them, regretting them deeply.
You, on the other hand, were dealt a seriously flawed hand, in the "game" of life, I am truly sorry to say. Trust me when I say that you have done all that you could. But it is not your job as the child that was hurt, and hurt very badly, to "raise" your mother, to "fix" her — and so to fix what was broken in your past. Far from it.
Now let me tell you how it should have been. If either of my dearly beloved children had ever even HINTED that maybe they MIGHT have been harmed in any way, shape, or form, physically or sexually, by anyone in my life, anyone at all, no matter who, I would have stopped at nothing to end that harm. I would have fought like a wild mother bear, my dear girl. I am not very big and I am not very strong, but believe you me, I would have strangled any man with my bare hands before I would have let him do what that man did to you!!! And I mean that with all my heart.
Let go of your mother. She doesn't deserve you. You deserved much better than her. Say goodbye to the woman who bore you and don't look back.
But don't let that be the end. Go and find some old lady who was unable to have a daughter, some woman who would still dearly love to have a daughter. And you adopt HER. And make of her the mother that you deserved all along. In this, the two of you will find true mother-daughter love — and healing — and peace.
Go and be happy.
dixie58
March 4, 2010 at 3:16 am
I would think that unless she admits to that, we will never know what is going through her head.
Shelly M
March 4, 2010 at 7:41 am
absolutely nothing.
WPBlog Shop
March 4, 2010 at 8:36 am
I missed you girl…and I needed to hear this . Thank you.
Blogger
March 4, 2010 at 10:13 am
tampajohn, that is so sweet. Thank You.
Blessings,
Johlae
unknown
March 4, 2010 at 8:29 pm
I recommend a 30 or 35 year term insurance. Term insurance lets you decide where you want to save your money, while other types of life policies such as whole life or universal life doesn't. Premiums are very low too, so you can afford the right amount of coverage needed.
While she has term insurance, I recommend she also invest into mutual funds (a mixture of large growth and large blend funds). She should open an IRA first and then invest into a mutual funds so that her investments grow tax-deferred.
I have a 30 year term and I invest $100/month into my Roth IRA. My portfolio has an average rate of return of 14%. In 20 years, I can potentially have $132k. In 30 years, $556k.
Lets say the average over 30 years is only 10%. In 30 years, my IRA may worth only $228k.
But truthfully, I don't know how the stock market will perform in the next 30 years. In 30 years, I may or may not need life insurance. If I do, I can renew it, but premiums will be higher and stay level for 5 years and then go up again. I can exchange it for another term policy such as a 10 year term. I can lower my coverage. Right now, I'm not worried about my options in 30 years. I'm only concern with building enough retirement savings that I can comfortably live on.
WPMixer
March 4, 2010 at 8:49 pm
Thanks, kiohitita for watching.
-Johlae
unknown
March 4, 2010 at 10:15 pm
Disability- obvious
A protection policy- lower premiums and once she gets "established in a career" she can contribute to other types of savings
deport_scum
March 4, 2010 at 10:47 pm
It doesn't surprise me at all! Especially when one considers that some of the drug cartel protection, and members have defected from the U.S military after coming to the U.S. to be trained. Of course that was under the guise that they wanted to become U.S. citizens. Guess someones pulling out all the tricks in their bag to continue to have drugs shipped into this country, and our money, and weapons shipped into theirs.
Anonymous
March 5, 2010 at 10:54 am
It’s truly my honor Ma’am