Selling a life insurance policy, in recent years, have become
almost commonplace to the terminally ill as well as to people with
I find it disturbing that people in the United States could find themselves in such a position that such an action is necessary.
There are many advantages to selling a life insurance policy but the few disadvantages should also be considered.
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from the beginning of the first
was created with the intention of taking care of
financial needs of the family
in the event of the premature death of the breadwinner. This I see as a
very honorable, thoughtful, and even noble act.
After all when you asked this lady to be your wife you promised to take care of her even in disastrous times. As for the children...they did not ask to come into this world.
Although your children may now be grown and are enjoying a
prosperous, healthy and happy life, it just seems to me that to deprive
them of the proceeds of a life insurance policy that was intended for
their welfare would be, to say the least, dishonorable.
Selling a life insurance policy just does not sit well with me unless it is absolutely necessary. There are many immediate advantages, but is it necessary? Could you use the cash values, in the form of a loan, to achieve your goal and still leave the policy proceeds for the family?
What of your wife? If she has her own pension and some additional cash put away in some type of investment should she not still receive the benefits of that life insurance policy. After all, if there were not women and children there would not be life insurance. Selling a life insurance policy should be avoided if possible.
One good way of achieving the same results as you would selling a life insurance policy
is to prepare for the possibility of becoming incapacitated at some
time in your life by buying a policy for that specific purpose.
This policy would be specifically designed to take care of that eventuality if necessary. This is referred to as accelerated death benefit. It can be purchased as either be part of a policy or a rider to a policy.
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Term life insurance is life insurance in it's simplest form. These policies stay in force for a specific number of years, for example, 5 years 10 years etc.
Whole life insurance is the plan of choice for many people. There are many variations to this plan.
Universal life insurance was designed with the express intention of combatting the venerable whole life insurance policy.
Are you looking for quality term insurance quotes? Have you determined how much you need? Do you know what type of term insurance is best for you?
In many cases it is a good idea to buy term insurance online. Some people know just how much life insurance they want to buy before they get online.