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Life Insurance Review
Most people are severely underinsured when it comes to having adequate Life Insurance.
As far as having the correct amount, it is almost impossible to determine your exact needs.
To get the proper perspective, ask yourself, "If I won (the face amount of your policy) in the
lottery, would I - or could I - retire and be 'set for life' ?" While their would be one less
consumer (the deceased), can your family live comfortably on the income that the proceeds
would produce? And, most importantly, have you accounted for inflation, especially medical
inflation that tends to out pace the national average?
Too often people feel that they can't afford proper coverage, however, we can explore the
marketplace for great products that fall within your budget. There are many new types of
policies that have been developed to address the needs of today's customers, including:
Guaranteed Universal Life - Basically a "term for life" policy. Pay one flat (never
increases) premium every year, and the policy stays in effect.
Life Insurance with Long Term Care Rider - Depending on the Insurance
Company, some policies can be designed so that the LTC portion is paid as advanced
Death Benefits, which could have tax benefits to you (refer to your tax advisor before making
any decisions.)
Life Insurance with Long Term Care Rider for Business Partners -
Traditional policies used for Buy / Sell agreements prepare for:
functions, most traditional Life Insurance policies do not respond. There are new products
available to respond to this need, and the same conditions that would normally initiate
payout for nursing facilities can be used to begin buying out the ailing Partner.
As far as having the correct amount, it is almost impossible to determine your exact needs.
To get the proper perspective, ask yourself, "If I won (the face amount of your policy) in the
lottery, would I - or could I - retire and be 'set for life' ?" While their would be one less
consumer (the deceased), can your family live comfortably on the income that the proceeds
would produce? And, most importantly, have you accounted for inflation, especially medical
inflation that tends to out pace the national average?
Too often people feel that they can't afford proper coverage, however, we can explore the
marketplace for great products that fall within your budget. There are many new types of
policies that have been developed to address the needs of today's customers, including:
Guaranteed Universal Life - Basically a "term for life" policy. Pay one flat (never
increases) premium every year, and the policy stays in effect.
Life Insurance with Long Term Care Rider - Depending on the Insurance
Company, some policies can be designed so that the LTC portion is paid as advanced
Death Benefits, which could have tax benefits to you (refer to your tax advisor before making
any decisions.)
Life Insurance with Long Term Care Rider for Business Partners -
Traditional policies used for Buy / Sell agreements prepare for:
- The death of a Partner - through the Death Benefit
- The retirement of a Partner - through Cash Accumulation
functions, most traditional Life Insurance policies do not respond. There are new products
available to respond to this need, and the same conditions that would normally initiate
payout for nursing facilities can be used to begin buying out the ailing Partner.
Disclaimer: Nothing contained on this site should be construed as an offer to sell Life Insurance.
Unless otherwise disclosed, Midas Insurance Consultants and Michael D. Steinberg function
as a consulting service to discuss needs and make recommendations. All benefits are subject
to the claims paying ability of the Insurance Company and subject to the terms and conditions of
the policy.
Unless otherwise disclosed, Midas Insurance Consultants and Michael D. Steinberg function
as a consulting service to discuss needs and make recommendations. All benefits are subject
to the claims paying ability of the Insurance Company and subject to the terms and conditions of
the policy.
Midas Insurance Consultants