Wednesday, April 16, 2014

Do You Need Life Assurance? What To Consider

When you are about to take out a life insurance policy, the insurance company would want to find out all they can about the state of your health, and whatever habits they might consider to be high risk.



There are a couple of reasons why funerals are important. The first is technical - a funeral makes sure that a body is legally buried or cremated. The second reason is that a funeral helps the family come to terms with the death. It is important to remember that a funeral is not for the dead, it is for the living.

Personal finance also includes estate planning. This includes, but is not limited to, drawing up a will, assigning a power of attorney (both financial and medical) and setting up a trust. Power of attorneys give someone the right to make decisions for you in the event that you can not make them for yourself. This should only be given to someone whom you trust to make decisions in your best interest.

At the same time, the financial markets were on fire with technology stocks leading the way. That is, until several Internet companies with zero earnings trading in the stratosphere began to implode.

Ah, then there is final expense insurance. Such a simple product with little or nothing to learn. You can master it in about a week. There are no moving parts and it is so easy for clients to understand. There is no complicated language about what is covered and what is not. No complicated illustrations or contracts to decipher. There is no question as far as need since we all die. And it won't put any client in the poor house.

A simplified issue policy only asks a few health questions, and is designed to accept most people in reasonably good health. It usually only excludes those with a terminal illness or who need nursing home care. The good thing about simplified issue policies is that they have an immediate death benefit with no waiting periods, and the premiums are more affordable.

First off, the client needs to see the value of having a policy and protecting the people they care about. Any TheInsuranceLife I have I look at as an asset and not as a monthly expense each time I make a premium payment. It's important you talk in terms that the client is creating an instant asset for their family and not an expense.

Tip: Give your lender all require documents. If any information is missing, it will only delay your case and their response is, why bother, if you don't care, why should I.

It is easy to make money by selling final expense insurance, all is required from your end is proper planning and a focus on your designated target market.

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