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THE CIRCLE OF SAFETY: HOW TO PROTECT YOURSELF AND YOUR FAMILY IF YOU DIE...WHAT EVERYONE MUST KNOW ABOUT LIFE INSURANCE
By Hugo Salamanca
What you’ll discover in this report:
- How to make sure your family is really protected!
- Cut through the confusing “insurance jargon” and know what a life insurance policy really says!
- The different kinds of life insurance policies…what they’re good for, when to use which one
- Why smart consumers use life insurance…and the mistakes that other people make too often…and much more!
HOW TO PROTECT YOUR FAMILY IF YOU DIE...
L
ife insurance is a simple concept -- you buy a policy that pays to your beneficiary or beneficiaries when you die -- but the decisions of what kind life insurance to purchase, how much of a death benefit and how much you pay are extremely complex.
* Note. There are more than 2,000 companies selling life insurance in this country. Some are very good, financially solid companies; others are not so sound. A company’s financial strength is vitally important to you because, hopefully, no one is going to collect on your life insurance for a long time.
You want to make sure your life insurer will be around for the long haul. How do you do this? You can consult a seasoned insurance professional, which is probably your best bet, or you can look at how various independent organizations “rate” the life insurers you are considering. Ratings are like school grades, A+, A, A-, B+, etc. In general, it’s wise to stick with companies that are rated A or better by most rating organizations.
Many Purposes for Life Insurance
Life insurance is far more than just a decision of how much to buy. Depending on your financial situation, life insurance can be used for a variety of purposes, such as:
- estate planning
- accumulating cash
- transferring wealth
- achieving estate tax liquidity
Life insurance is like auto insurance in that you can buy a lot of it or not very much at all. Life insurance differs from auto insurance in that, depending on the type of policy you buy, you can pay a lot or a little for basically the same death benefit. Keep in mind, though, that the younger and healthier you are, the less you will pay for coverage. Life insurers really, really like to have their policyholders around for a long, long time...
