If you’re reading this blog input chances are someone has talked to you about Life insurance at some point in your life. I would assume that most people know the basics about the importance of having coverage and not leaving a burden to your loved ones.
However, all life insurance is not the same and it can make a huge difference if you take a little time going over some of the nuances with the products available.
Life insurance companies can decide what premium they want to charge for each plan and just because you have a good rate in one state or even county, the price can be entirely different in another with the same company.
Life Insurance plans are designed to accomplish different purposes.
Some plans are designed to maximize the highest death benefit amount.
Some are built to cover immediate coverage for an individual with no questions asked.
There are plans designed for people with pre-existing conditions.
There are also plans that are created to hide income and reduce tax liability. (Life Insurance cannot be taxed so individuals with these plans load them up with extra cash and pull funds from the death benefit.
There are group plans that can be designed to cover employees and owners pre-tax. These plans can also be designed to be completely voluntary for the company members that want to add a benefit that comes out of their check pre-tax.
Lastly, these are just some brief examples and if you would like to receive a free quote please reach out below or call us at 1-800-615-1440.
All the best,
Ernest Mitchell