Tips & Tricks With Using Life Insurance
from What's Up With Money?! Hosted by What's Up With Money?!
This is all about getting some info to equip you to be ready to have a great Life Insurance conversation with a Life Insurance agent! Do not be afraid of Life Insurance. Do not be afraid of Life Insurance agents. Be equipped. Good agents that really understand the value types of Life Insurance we are talking about structure stuff at their detriment - not yours! Remember, the lower the death benefit the lower an agent gets paid. The more cash - the better for you, not the insurance company or the agent you are working with. Rules for term - cheaper is not always better and may be worse. From an advisor's perspective, cheap life insurance is a major red flag! Questions To Ask Your Agent Premium: Is it fixed or flexible? Do you pay until you die, for a fixed time period or flexible? What happens if you stop paying? How much or how little can you put into the plan? How does the money grow? Is it guaranteed interest, does it receive a dividend, is the money connected or in the stock market. In 10 years, will you have more money than you put in or less money? You should ask to see this outlined. Does the cost of insurance increase over time or is it level? Does the death benefit grow or stay the same? Can this plan "lapse?" That means it has no value some time in the future. Freebie Book Recommendation! To Sell Is Human by Daniel H. Pink To help you rethink sales, understand you're always selling, and help you out! What's Up With Money?! Book Club: Money. Wealth. Life Insurance. by Jake Thompson
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