life insurance advantages
t is a general belief that life insurance is meant only for those with families.
It is true that Life Insurance Policies like whole-life insurance, joint-life-insurance,
pension-life-insurance etc are essential for family's financial security, but they are
equally important for individuals. Term Insurance policies protect your financial
resources against the uncertainties of life so you can protect your family's future.
Depending on your protection needs, you can choose from many different types of
insurance-quotes. Get a FreeQuote from Life-quotes to decide on one or many of the
life insurance policies you require from available term-insurance, universal-life,
jointlife, pensionlife and other free-quotes. It may be useful in numerous ways to
have an insurance-quote, due to the potentially high yield and tax favored benefits
on the life insurance policies today.
Some of the life insurance advantages offered by different types of Life Insurance
A carefully signed Life Insurance Policy with desired ownership and beneficiary
arrangements helps secure you and your family in the long term. At Life Insurance
Cheap we will help you identify the best Insurance Program available for you to leverage
the various advantages offered by Life Insurance.
- If an estate owner has not accumulated enough assets for his family, Insurance quote
helps create an instant estate for the sake of the Family’s security.
- Life Insurance provides the option to pass equal assets to the children who are not active in the Family business at the time the family business is passed on.
- Life Insurance policies can help secure the future of children for college/educational purposes as the amount of life Insurance Policy increases on a minor’s or parent’s life.
- The growth of a cash-value policy is tax-deferred - you do not pay taxes on the cash value accumulation until you withdraw funds from the policy.
- Life Insurance can be useful in paying estate taxes, along with other estate settlement amounts. Federal Estate Taxes are due nine months after death.
- If there’s a Business Transfer, life insurance can provide ready cash to finance a transaction between business owners who are ready to buy the deceased owner’s share from his or her estate after death.
- If there’s a home mortgage, one can pass the family residence to their spouse/children to free them of any mortgage if one has a Life Insurance Policy for the same. It is preferred to have a decreasing term policy that decreases in face amount as the mortgage balance is paid down.
- Life Insurance helps retain your Business from the loss of a key employee. Untimely death of a key employee can pose severe financial loss to the business.
- The right insurance proceeds can provide liquidity to pay off personal loans or business loans.
- Charitable Remainder Trusts provide tax benefits. Life Insurance helps replace a charitable gift.
- A lot of Insurance products presently provide good returns, which could be a beneficial way for saving necessary funds for retirement years.
- Benefits are available immediately and may be used to help pay expenses such as final illness and funeral costs, eliminating the need to sell estate assets to cover these costs.