Looking to buy life insurance?

     
Looking to buy life insurance?

Work with an independent agent only.  Thats what I'm goingto talk to you about in this video. So if you're looking to buy life insurance there are so many options out there, it could really be very confusing.

My recommendation to you is that you should work with an independent agent.  So let's take a step back.  There are two types of life insurance agents.  Independent agents and captive agents.

Captive agents are called captive because they work for one insurance company only, and they represent that one insurance company.  So a captive agent might work for Metlife for example, or Nationwide. So, for example when you work with that agent they are only going to recommend Metlife products, generally.

And they're going to, their goal or incentive is to sell the products of Metlife, because they work for that company, they generally earn higher commissions and they're incentivized to work for that company and sell that company's products. When you work with an independent agent, you're not dealing with that.

Independent agents have contracts with many companies.  They can have contracts with three companies, they can have contracts with ten companies.  They're really allowed, or they're really able to do what ever they want, they can contract with multiple companies.

So why work with an independent agent? Well, when you're shopping for insurance it's import and that you find the best price and that you find the best company for you. Working with an independent agent allows you to do that.  You can shop rates, compare them among many companies.  If you don't like the results or the pricing of one company you could always then apply with another company, through that same agent, and you can also have a better fit for the type of policy you're looking for and your specific situation.

Asan example I recently worked with somebody who - we applied to one insurance company. We didn't get the health rating that we thought we would get or that we thought he should get, and so we turned around and submitted his medical records to another company and we got better results. What was the final result? we were able to save five-hundred dollars a year by choosingto work with another company, where we thought he should get the health rating he deserved. Thats the benefit of working with an independent agent, you're able to do that.

When you'reworking with a captive agent, that agent is incentivized and has, gets better pay to only work with one insurance company, and recommend that one insurance company to you. The benefit of working with an independent is you're able to shop the entire market place. Especially if you have an existing health situation, there are specific companies that might give you more favorable ratings, and as a result a better price.

So when you'reshopping for life insurance you want to make sure that you're working with an independent agent.

My name is Liran Hirschkorn, and I am an independent agent.  My website is chooseterm. com, you can visit the site and fill out a quote request form, or you can call me 800-574-0245 my direct extension is 101, and I look forward to helping you with you life insurance needs.  Thank you.

Life insurance and relationship & finance

     

Now I want to talk about Meet Mark and Sophie stories. They just found out they’re having a baby girl named Maddie. They’re very excited. However, they’re also a little bit worried, Sophie especially. 

As the sole breadwinner, she fears for the baby’s feature should she die unexpectedly. Luckily however, there is a ready-made solution for this problem: life insurance. Like most types of insurance, life insurance reduces the costs associated with a risk,in this case the risk of dying, in return for a monthly fee called a premium. 

While that sounds rather morbid, basic life insurance policies only cost about $400 per year, plus their benefits are too good to pass up. If Sophie is insured and dies before her time, her insurer will pay her family a huge sum of money, like $500,000, to secure their future. Sounds pretty good right? 

But do most people actually need life insurance?Well, it depends, but the rule of thumb here is simple: if you have someone dependent on your income, you need life insurance, otherwise, don’t bother. But let’s continue. There are two major types of life insurance: term and permanent. 

Term life insurance is the simpler, less expensive form. In return for a series of monthly premiums over a set period of time, generally between 10 and 30 years, Sophie’s family is eligible to receive a large payout upon her death. In contrast, permanent life insurance is way more complicated and has three similar, but distinct forms: whole, universal, and variable. Under any of these plans, some of premium goes towards establishing a death payout, just like in term life insurance, while there is of your it, minus expenses, is saved in a tax-deferred account that earns a fixed amount of interest per year. 

As the name implies, permanent life insurance plans also last indefinitely, so if you choose to cancel, you’ll get back your saved premiums, plus your interest, after paying some fees and income tax. Sounds pretty good right? Well, actually, permanent life insurance is a pretty bad product. Sophie is stunned. Why is that? Well, beyond a reputation for being overly complicated and laden with hidden fees, think a bout it in terms of return on investment. 

With term life insurance, although your premiums aren’t invested, they’re far cheaper than permanent life insurance. This frees up cash that you could then invest with a robo-advisor for an investment return that will exceed anything you’ll get with permanent life insurance. And don’t worry, we teach every thing you need to know in our two videos “How to Invest” and “401(k) and IRA 101”. Hopefully you, Sophie, and Mark now have a better understanding of how life insurance works. Be sure to watch our next video, which teaches you how to actually get life insurance,and to check out our website, where you can find more educational material and great life insurance recommendations.


Term life insurance quotes


Life insurance and relationship & finance
Life insurance and relationship & finance 

New Way to look at life insurance

     

When you look at what matters most in your world, protecting your family comes first. That's where life insurance plays a big role. Life insurance policies like PruLife Universal Protector provide a death benefit that can make sure your loved ones are taken care of. 
But here's something you might not know. By adding the optional Benefit Access Rider to your policy,you and your family will have more choices and financial flexibility if you ever become chronically or terminally ill. There's a 1-in-2 chance you may have a chronic illness or disability after the age of 65. Benefit Access lets you accelerate up to 100% of your death benefit if you qualify. 

And in the future that could help make a difficult time a little easier. You can use the benefits to pay for skilled care in your own home. Or help ease the financial burden on family caregivers,by compensating for their lost income. Families pay 63 billion dollars out-of-pocket for care giving every year. 

You can also use the money to buy groceries or medications. To make home modifications. Or to pay for things you might not be able to do yourself. Like transportation. . . . . . or lawn care. You can use the benefits however you'd like. There are no restrictions. 

And you don't need to submit any bills or receipts. Learn how you can protect your loved ones with a death benefit. And help ensure more control and flexibility if you develop a chronic or terminal illness. All with life insurance that can do more. Explore a PruLife Universal Protector policy that offers Benefit Access,or talk to your financial professional.

New Way to look for life insurance
New Way to look for life insurance