Term Insurance is the most common form of INSURANCE; you purchase insurance for a term; example, you purchase auto insurance typically for a 1-year TERM, you purchase travel insurance for a term while you’re on vacation, and you purchase renters insurance for TERM.
Most insurances are TERM insurances; what separates TERM life insurance from other forms of term insurance is that the longer you live, the more expensive your TERM life insurance will get.
Whole Life Insurance was actually created because of the inherent flaws of Term Life Insurance. For example, once you term 85, it will be tough to qualify for any term life insurance policy, once you pass 65 years of age, term insurance premiums can become extremely expensive, it’s usually during these older periods in life, that people seeking life insurance start asking about Whole Life Insurance, because when you’re young, the last thing on your mind is Life insurance, however at SegFund Insurance, I would like to change that type of thinking.
The benefits of Term Life Insurance are that it’s CHEAP, and the death benefits to your loved ones can be in the hundreds of thousands for less than $40 per month in many instances. This allows you to free up capital to do other things; you can use the additional money to invest or spend it on whatever you want, knowing that if something happens to you during that term insurance period, you have nothing to worry about.
Term Insurance Vs. Dividend Paying Whole Life Insurance With Living Benefits
A lot of people who know very little about life insurance try to create an “Us vs. Them” narrative when it comes to Life Insurance; try not to get caught up in this silliness; all life insurance products were created based on marketplace DEMAND.
It’s better to have Term insurance than no life insurance at all, but why Whole Life Insurance is beloved by so many people and hated by others has to do with the lack of comprehension regarding living benefits.
The Whole Life Insurance policies I recommend revolve around living benefits because Whole Life Insurance is indeed way more expensive than Term Insurance, they come with a lot of PERKS. To better comprehend these perks, you’ll definitely need a professional Life Insurance Agent like Romone Porter.
Call or text Romone for more information
Contact Romone: (416) 705-0892
You can also use the contact form for more information.
These whole life insurance living benefits exist because you as my customer, would be contributing a lot of money to the Life Insurance Policy, and this insurance contract between you and the Insurance company not only would allow you the potential to accumulate savings, keep pace with inflation, you could increase your death benefit and best of all in my opinion you’ll be able to borrow money from the insurance company WITHOUT a credit check.
When most people imagine borrowing money from their insurance policy, they imagine it as borrowing their own money; this is FALSE; once you pay insurance premiums, that money is SEPARATE from any money you’d borrow for the insurance company, and why some people love thole life policies is that they can repay the money they borrow from the insurance company on their own terms,
Best of all, after around the 10-year mark, the savings portion of your whole life insurance contract will pay you more than any money you can borrow from the insurance company. Although this might be hard to understand now, it makes perfect sense after your whole life insurance policy has been in force for more than ten years.
Because Term Insurance expires after the term ends, term insurance can never offer these features, and when it comes to life insurance in general, the sooner you get your whole life policy, the cheaper it will be.
I personally do not like to use the term “banker” when it comes to Life Insurance contracts. Life Insurance contracts are indeed INSURANCE contracts, and people purchase insurance for SECURITY.
Some people they’re able to retire because of insurance products, and for someone like myself, I wish I had known about the whole life insurance when I was a child, as it would have changed my entire perspective on where to store my money.
Term Life Insurance is a GREAT place to temporarily store your money, but if you can afford it, I’d definitely ask you to consider a dividend-paying whole life insurance policy.
I would love to be your insurance agent. I love insurance, and I love to help people, so if you’re considering a term life insurance policy, consider contacting me, and I will make sure that, at the very least, you come away more knowledgeable.
Call or text Romone for more information
Contact Romone: (416) 705-0892
You can also use the contact form for more information.
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