Life insurance is considered as the cornerstone of financial planning. It is a cost effective way to provide for your family after you are gone.


1) Estate planning Life insurance policy money can be assigned to pay estate taxes so that your heirs will not have to liquidate other assets.
A beneficiary is the person or financial institution, (a trust fund, for instance) that will benefit from your life insurance policy. In addition to naming a specific beneficiary, you should name a second beneficiary. In case you outlive both your beneficiaries, the proceeds will go to your estate.

2) Replacement of Income Earning a living is considered by many to be the key economic asset of their life. If you have dependants, consider what they would do if they were deprived of you income. Money paid out from life insurance can be used to supplement their retirement income. This is useful if your spouse cannot avail of a few benefits after your death.

3) Pay outstanding debts and long-term obligations Buy life insurance so that your relatives have the money to offset burial costs, clear credit card debts and medical expenses that are not covered by health insurance. In addition, life insurance can be also used to pay off your mortgage, and add to the retirement savings of your spouse and help pay college tuition for your kids.

Picking a beneficiary are vital parts of purchasing life insurance. The birth or adoption of a child, marriage or divorce can affect your initial choice. So it is important to keep the choice updated. Special attention needs to be shown to the wording of your chosen beneficiary to ensure that the right person receives the proceeds of your estate. If you write "wife/husband of the insured" without using a specific name, an ex-spouse could receive the proceeds. On the other hand, if you have named specific children, any later-born or adopted children will not receive the proceeds.

Commercial Rates Table of American Income Life insurance.
Note: Only a small percentage of consumers have the health and lifestyle features to qualify for "super-preferred" prices.

Standard
$407 - Americom Phone:(800) 987-9004
$410 - Cincinnati Phone:(513) 870-2000
$412 - West Coast Phone:(800) 366-9378
$430 - Banner Phone:(800) 638-8428
$440 - MONY Phone:(866) 262-6669


Super-Preferred
$220 - Banner Life Phone:(800) 638-8428
$225 - GE Capital Phone:(206) 625-1755
$225 - Lincoln National Phone:(800) 231-3655 219) 455-2000
$240 - American General Phone:800) 231-3655
$232 - Federal Kemper Phone:(847) 550-5500
 

       There are two types of life insurance

Term

Term Insurance is the basic life insurance. It provides financial protection bound by a specific time, usually between one to thirty years. They are comparatively inexpensive and are well suited for specific purposes, like insurance protection for paying off a mortgage or paying the tuition fee for college education. Purchasing term insurance is like renting a car, a short-term solution. Monthly costs are lower, but you will not be building any equity. Individuals who need insurance protection now, but have limited resources, should purchase term insurance and then change to permanent protection. Others see term insurance as the best and cost-effective way to protect their family and still have money to put into other investments.


Permanent

Permanent insurance (such as universal life, variable universal life and whole life) provides long-term financial protection. These policies include both a death benefit and, in some cases, cash savings. Purchasing permanent insurance is like buying a car instead of renting. You are taking care of long-term needs with a long-term solution. Your monthly costs may be higher than if you rent, but your payments will build equity over time. If you purchase permanent insurance, your premiums will pay a death benefit and will also build cash value that can be used in the future.

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Life Insurance We offer you the best life insurance quote with competitive term rates from the reputed insurance agencies. Avail the benefits of our service and secure your life