Have you ever lost a loved one that had no insurance coverage and the family had to scramble to pay the cost? Or, you are making monthly payments on a long outstanding bill? Believe it or not, old insurance policies that have not been paid on for years may still have value.
Single Premium Life is a great option to increase the value of your money with the current low interest rates. Many persons are taking savings they do not need and purchasing a life insurance policy. It is a way of leveraging money. Why you may ask, because a $10,000 CD or Annuity may purchase a $40,000 life insurance policy to leave to love ones & it does not create a taxable situation. A great way to increase ones estate value.
TV Final Expense Plans, Often you hear commercials, we just buried Dad & I am so happy we purchased a $2,500 life insurance policy. Thankfully the cost was low and there were no health questions. Let me break that down, the premium advertised is for the youngest person advertised, not older ages. Secondly, if no health questions are asked it means you are paying the same rate as sick persons, so you will have a 2 year wait before the coverage is in affect. If you did during the first two years they will simply refund the premiums paid. If you are in good health you will qualify for a lower premium, more insurance and immediate coverage. No two year wait.
Converting CD to Life Insurance SPL. With interest rates being at a all-time low you may be losing for ways cogenerate a better return. One way to increase the value of your savings to covert it to a single pay life insurance plan. This gives an immediate increase in value and provides money that will be transferred to beneficiaries non taxed.
Cremation Plans Are you tired of hearing the horror stories of people who paid $10,000 – $15,000 for the burial of their family member. Many are turning to cremation as an option. At a fraction of the price possibly $4,000 or less.
Burial Plans: Are available for persons 50 – 85 at a reasonable price. These plans may provide $2,500 – $50,000. They may be term or whole life. Some of these plans are guaranteed even if you are in poor health.
Old Life Insurance Policies: Often retain value. You may find some old insurance policies you were ready to discard. If those were whole life polices or even some UL’s they may be worth money. A few weeks ago a person called and said I came across some old policies cleaning out the closet. Can you look at them and see if they are worth anything. They were worth $2,000. Don’t throw out cash.
Let our experienced and knowledgeable staff help you find the coverage that’s right for you. Call Johnson & Associates, your Insurance Specialist at 336-226-8595 or request a free quote.