How To Match The Right Insurance Policy To The 4 Stages Of Life
|
As we go through life our needs change. A Young man or women with a family has very different insurance needs then the Empty Nester. Here is a guide to help you determine what type of insurance best matches your need based on the 4 Stages of life
Stage 1
While traveling the great state of Missouri one of the biggest objections I hear is why do I need life insurance. I'm young, single and healthy. That is the best time to buy life insurance. The younger you are and the healthier you are the cheaper life insurance is.
When you are still young and single you may not really need life insurance but that is the best time to buy it. A small whole life policy of 50,000 or maybe 100,000 is really is good investment for a young person. As long as you keep this policy in force no matter how old you get. No matter what happens to your health you will always have insurance.
Stage 2
You get married buy your first house and have a few children. At this point in your life you need enough insurance to pay off the mortgage if something happens to you and of course you would want to make sure there is enough money for your young growing family . Don't forget those college expenses A Term Policy or universal life policy are what you should be looking into during this stage.
Stage 3
A friend of mine says life begins when the dog dies and the kids graduate college. Your Home is paid off or nearly paid off. Your children are all on their on and no longer count on you for support. Your concern now is to have enough money for retirement. Your Life insurance needs aren't that great that 50,000 Life policy you got when you were in stage 1 might be all you need. Annuities, Universal Life and long term care are areas of insurance to look into during this pahse of your life.
Stage 4
The Golden Years. You want to make sure you don't outlive your retirement savings. You also want to protect the assets you have. Annuities and Long Term Care and Medicare Supplement would be your 3 main areas of concern during this satge of your life.
About the Author
Mike Makler Offers Financial Services (Mortgages,Life Insurance, Annuity) in Florissant Missouri which is in North St. Louis County Missouri Just Across the Bridge from St. Charles Missouri
Call Mike at 314 398-5547
Visit Mike's Web Page:
http://ewguru.com/finance
For Missouri Specific Insurance and Loan Questions:
http://ewguru.com/Mo-Finance
Get Mike's Newsletter Here
http://ewguru.com/fin-news
Copyright © 2005-2006 Mike Makler
|
|
|
Life Settlements, More Than A Cash Surrender Payout
With a life insurance settlement, seniors now have the ability to receive a payout larger than their cash surrender value. Life insurance companies have always had the advantage by offering a low cash surrender payout for unwanted or unneeded life insurance policies. Now however, senior consumers are using a life settlem...(related: Insurance)
Health Savings Accounts (hsa): Do They Vary From State To State?
The Health Savings Account (HSA) is an amazing tool that a lot of people have been talking about. It is meant to help you save money on insurance and make your life simpler, maybe even help you be healthier.Is this tool available in all states? And are HSAs in each state the same?The Health Savings Account (HSA) was passed in the U.S. Congress in December 2003. It was signed by President George W. Bush. That means it is a federal law. The HSA is availa...(related: Insurance)
Finding A Discount Car Insurance Broker
Discount car insurance brokerTimes past finding a discount insurance broker was important and offered you access to many different outlets for your needs. Today that's no longer the case as finding a discount insurance broker doesn't really provide you with any benefits or advantages as it once did.A simple matter of typing in what you're looking for into the search box on the internet will give you access to anything you need with numerous options and plenty of details.At one time companies didn't have access to the buying public like they enjoy today. So, they used to contract agents and brokers who had been around a long time with a large base of customers. That system was used for years. The publi...(related: Insurance)
Underinsurance Can Spell Disaster For Homeowners
Insurance is meant to give homeowners peace of mind, but an increasing number of policy holders are putting themselves at risk by neglecting to insure their home and conten...(related: Insurance)
Life Insurance Beneficiaries
Naming a beneficiary for your life insurance policy can be a difficult decision to make, not to mention a tricky procedure. A person needs to research the different types of beneficiaries and the different ways to go.In naming a life insurance beneficiary, a person should always specifically name and individual or organization and state the proceeds go to the beneficiary.Multiple beneficiaries may also be another option to your life insurance policy. There is no limit to the number of beneficiaries on a life...(related: Insurance)
Life Insurance No Medical Exam - Is It Really Possible?
Quite often you feel that an ad for life insurance no medical exam is trying to rip you off. However, it is possible to get life insurance no medical exam when you shop online for your life insurance needs. It is only a click away on a computer, but you really do need to check to see if life insurance without having to visit a m...(related: Insurance)
The Awful Truth About Annuity And Insurance Leads
You see the websites, you see the ads: exclusive, never before sold, prospects eager to buy, insurance and annuity Leads. Some leads cost a few dollars - others are over one-hundred a pop.I was curious, just how good are these insurance and annuity leads? I decided to find out.I'm not going to name specific insurance and annuity lead websites, but I will give you a summary...(related: Insurance)
Health Insurance Plans - Benefits To Different Plans & Providers
Health insurance plans vary in their coverage and prices. The more coverage offered, the higher the premiums. This doesn't mean that the lowest premium is the cheapest. If you have to pay many out-of-pocket medical expenses, you could be paying more than if you had gone with a higher premium plan. Different plans benefit different people.Fee For ServiceFee-for-service health insurance policies are the most common. You pay the medical bill and then you are reimbursed by the health insurance pro...(related: Insurance)
Finding Auto Insurance Comprehensive Coverage
You can go online to easily find and quote auto insurance comprehensive coverage.The definition could include basically (2) trains of thought. Often the term comprehensive merely applies to thorough physical damage in the event of loss to the vehicle itself. That's when auto insurance comprehensive coverage comes into play.The other thought relates to overall benefits that include bodily injury, uninsured motorists, medical payments, under insured motorists, comprehensive and collision features. That essentially provides broad and pretty thorough coverage.A broad range of coverage's naturally determine the final premium to be paid. You can adjust by picking and choosing, then requiting and eventua...(related: Insurance)
Why Boat Insurance Doesnt Help A Lousy Sailor
For thousands of years men have sailed the seas. From the earliest trips by the discoverers and settlers of the Americas, Australia and the Pacific Island...(related: Insurance)
Do You Know What The 7 Home Insurance Plans Are?
Most people don't realize that there are 7 different homeowners insurance plans that insurance companies can offer. Each plan is different from the other 6 based on the circumstances that it covers. Additionally if consumers are familiar with any of the plans it would be plans that involve parts of option 2 and option 3. You'll see why as I explain each plan in more detail...(related: Insurance)
Mortgage Life Insurance
Owning a home is a dream for most of us, although it is an expensive one. The monthly payments usually take up a big slice of our monthly income, and the sudden loss in the event of you or your spouse's early death may leave your survivors unable to make payments. To make your family is protected from financial hardship, consider Pick-a-Term Mortgage Protection insurance.Pick-a-Term M...(related: Insurance)
How Will An Hsa Save Me Money?
The Health Savings Account (HSA) is a tool to help you save money on health insurance. But how does it do that?A Health Savings Account (HSA) is just a savings account. Duh, I know. It is just like a bank account where you can put money in and you can gain some interest.But it has two special qualities that a regular bank account doesn't. First, when you put money in, that amount gets reduced from your taxable income. And you know what that means! You pay less taxes.The second thing that's different about an HSA is ...(related: Insurance)
site-map - Copyright © 2006 Insurance | All Rights Reserved. | Insurance