BestPlan Financial Strategies

Description

Most forms of life insurance (term, group, whole life, universal life) pay a tax-free sum to a named beneficiary, upon the death of the life insured. However the similarity ends there. Some insurance is needed to cover the risk of "premature" death or disability, only until the children are grown and debts are paid. Another type of insurance should continue for life, to provide ongoing income, emergency funds, estimated estate taxation, and payment of funeral expenses. Younger families with higher debts/mortgages and young children may need more life insurance in the first 20 years. It is important to determine lifelong Permanent insurance needs, as well as the amount needed only for a short Term (less than 25 years). Be aware that renewal rates for 5 to 10 year Term life insurance can increase as much as 300% - 400% . You can create a proper modular insurance plan tailored to meet your needs that will not only offer you the best value, but also significantly lower your long - term costs.

Products & services

Similar companies nearby