Life Insurance Proceeds As Income
Distribute Life Insurance Proceeds Monthly
Should life insurance not be about income? Many people love to
think about getting that large lump sum into their hands. Some people
dream about winning the lottery, winning money at the race track or
inheriting a large sum of money.
The biggest problem with these ideas is
that when these people get these windfalls too many of them don't know
what to do with the money. If you don't believe me ask the average
person what they would do if they inherited $20,000,000...
There is nothing more important than your family's security. What would
happen to your family if you died? Would they be provided for? Compare
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After hesitating a little they start telling you what they would buy and
who they would give money to. What everyone needs to know is that, for
most people, it is better to have a never ending income than to have a
lump sum. Life insurance should be about income.
when properly set up provide income for the
When you have this
never ending income
you can think about giving and buying things.
- Review Your Life Insurance Portfolio At Least Once Per Year
You should review your insurance portfolio regularly, that is
at least once per year. When a breadwinner dies there are certain items
that must be immediately paid in cash, but the majority of the proceeds
of your insurance policies should provide income.
Whenever changes occur you may need to review your policies at the time of the change. Changes like marriage or divorce,
buying a house,
birth of a child. All these occurrences are reasons for review...just
remember income is the name of the game. Whenever you provide income you
provide real security.
- What Type Of Insurance Policy Should You Buy?
It is imperative that you buy the
policy based on your desires, needs, and your pocket book. In my humble
opinion you should decide on how much income you need for your family
in the event of your death and work backwards from there. There are many
calculators available on the internet that you can use to do this.
is the preferred type of policy for the majority of people, mainly because of cost, but
variable universal life
can be excellent choices based on what you want your insurance policy
to do and how much you can afford. I fondly remember the days when most
people had some cash to fall back on, whether it was in a bank account, a
mutual fund or even a
People will tell you they don't buy stocks because there is too much
risk...they don't save in a bank account because the interest rate is
too low. They say that life insurance is not a good investment. That is
true but...what these people should bear in mind is that you must start
somewhere and accumulate some cash to invest in the bigger things...like
- There Is No Time Like The Present
I have yet to meet the successful person, in any field of
endeavor, who puts off taking action. They usually want do do everything
is one of those things that needs a now decision. We live in the
information age. As a result...today we can find information on just
about anything in a mighty hurry. It is just a matter of the click of a
You can find out
how much insurance
you should own and, would you believe it, in some cases buy your policy
right here on the internet. In other cases you can have life insurance
companies give you
and you decide which way you want to go.
- Insuring Other Family Members
All the intelligent people that I know of consider placing an
insurance policy on other members of the family after buying a policy on
their own life. You probably would ask why? We nowadays seem to assume
that we, the breadwinners, are the only ones that could suddenly die. If
a spouse or children should die the grief can be devastating.
can be cushioned somewhat if we can pay the bills brought about by this
eventuality. There will be attorneys fees,
and in the case of the spouse, may be some outstanding debt. Put a small life insurance policy on their lives...figure between $5,000 and $50,000...it can make a big difference if any of your loved ones should die.
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