LIFE INSURANCE
Explained in Simple Terms

 

2 TYPES OF LIFE INSURANCE
TERM LIFE
Term Life
PERMANENT LIFE
Permanent Life

 

 

 

LIFE INSURANCE IMPORTANT FACTORS
AGE: YOUNGER = CHEAPER
Age: Younger Cheaper
HEALTH: LOW COST IF HEALTHY
Health: Low Cost if Healthy
AMOUNT: $1M = MORE
Amount: $1M - More
TERM: LONGER = HIGHER COST
Term: Longer = Higher Cost


 

TERM LIFE INSURANCE
Life Insurance Services
Like renting/leasing years of coverage. Usually takes from 10 years minimum up to 30 years maximum.
  • COST LOWER
  • EXPIRES WHEN YEARS ARE UP
  • COVERAGES ARE NO LONGER THERE
  • REQUEST AN EXTENSION OF COVERAGE
  • AT THE HIGHER COST

 

 

PERMANENT LIFE INSURANCE
Like home ownership. It has no expiration and you are covered for life. You need to pay premium in order to keep it.
  • AGE: Always Young
  • HEALTH: Regardless of Future Health Issues
  • AMOUNT: Does not Decrease: May Increase
  • COST: Does not Go up
Life Insurance Agency
LIFE INSURANCE IMPORTANT FACTORS

TERM POLICY

$500,000 FOR 20YR

MORTGAGE: $200,000

COLLEGE ED: $100,000 (EACH CHILD)

PERMANENT POLICY

$250,000.000 FOR LIFE

FUNERAL

TAXES | LOAN BALANCES




 

 
PROCESS
 

Process usually takes about 2 weeks if all is done in a timely fashion.

Here is what to expect next:

  • Phone interview from Horace Mann
  • Nurse set appointment for the medical review
  • Premium deduction based on agreed amount
  • Policy issued Accordingly