LIFE INSURANCE
Explained in Simple Terms
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We will discuss what life insurance is, the types of things that are covered by life insurance, how to get life insurance, and more. There are information on agents, possible outcomes of policies, how much you should get in relation to your age and health status, and ways you can save on your policy. There are also sections on buying a policy for someone else or automatically insuring yourself. It will teach people about how life insurance can benefit them in their daily lives while maintaining financial security for themselves or loved ones if something happens to them unexpectedly.

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

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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



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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