Client Name
Insert Client Name
Website
www.website.com
Year
2020
Categories
Health, Technology
What Happened?
Insert summary here.
LIFE INSURANCE
Explained in Simple Terms
We will discuss what life insurance is, the types of things that are covered by life insurance, how to get life insurance and more. There is information on agents, possible outcomes of policies, how much you should get in relation to your age and health status, and ways you can save on your policy. There are also sections on buying a policy for someone else or automatically insuring yourself. It will teach people about how life insurance can benefit them in their daily lives while maintaining financial security for themselves or loved ones if something happens to them unexpectedly.
2 TYPES OF LIFE INSURANCE
TERM LIFE
PERMANENT LIFE
LIFE INSURANCE IMPORTANT FACTORS
AGE: YOUNGER = CHEAPER
HEALTH: LOW COST IF HEALTHY
AMOUNT: $1M = MORE
TERM: LONGER = HIGHER COST
TERM LIFE INSURANCE
Like renting/leasing years of coverage. Usually takes from 10 years minimum up to 30 years maximum.
COST LOWER
EXPIRES WHEN YEARS ARE UP
COVERAGES ARE NO LONGER THERE
REQUEST AN EXTENSION OF COVERAGE
AT THE HIGHER COST
PERMANENT LIFE INSURANCE
Like home ownership. It has no expiration and you are covered for life. You need to pay premium in order to keep it.
AGE: Always Young
HEALTH: Regardless of Future Health Issues
AMOUNT: Does not Decrease: May Increase
COST: Does not Go up
LIFE INSURANCE IMPORTANT FACTORS
TERM POLICY
$500,000 FOR 20YR
MORTGAGE: $200,000
COLLEGE ED: $100,000 (EACH CHILD)
PERMANENT POLICY
$250,000.000 FOR LIFE
FUNERAL
TAXES | LOAN BALANCES
PROCESS
The process usually takes about 2 weeks if all is done in a timely fashion.
Here is what to expect next:
Phone interview from Horace Mann
The nurse set an appointment for the medical review
Premium deduction based on an agreed amount
Policy issued Accordingly