Prior to Life Insurance existing in the market place it was unfortunately common for the death of a young parent to result in desperate financial times for the surviving family and widowed spouse. Before Life insurance only the most successful business owners and the elite could afford to die and leave their family with financial stability to better cope with the future.
Unfortunately today, thanks to obstacles like (death) taxes from the state and Federal Government it is not uncommon for even successful, decades long family business to die (tragically) alongside the business owner. The grieving widow, family or business partner is often left with no choice but to liquidate and sell off the business or its remaining assets to pay the costly double tax.
While many successful family businesses end abruptly with the death of an owner, life insurance can serve as a useful barrier to help offset the (death) taxes and other costs; as well as serving as a welcome resource all its own.
Sometimes when there are more business owners involved in a business, money may be needed to help replace the lost talent, such as through a new hire, training or with the replacement of the deceased's ongoing financial commitments in the business.
Today, in the 21st century life insurance is available and affordable for most who want it. Parents now have a tool that will ensure that their family isn't placed in an especially financially awkward or desperate situation on their death. Afterall, the death of a loved one is by itself too much grief and shock to want to deal with.
The good news is that some upfront planning and action right now can help prevent a sad situation of losing a loved one to being even a sadder situation of losing a loved one and going into debt or possibly losing your home.
Through the miracle of life insurance a person who may be otherwise unsuccessful in making a fortune in their life (or keeping it) can now suddenly be able to leave a tax free fortune for their loved ones, by the simple purchase of life insurance. Families can use the money for funeral expenses, credit card debt, to pay off the mortgage, school or auto loans among many other important living expenses; or they may use the money to invest for their future.
If you are currently single, you can use life insurance money towards your own funeral/burial expenses in addition to leaving a legacy, by contributing to a cause you believe in.
The amazing thing about life insurance is that it doesn't take years to accrue the death benefit, like other investments. Life insurance payout is payable on one's death or even before one's death in certain situations and the death benefit from life insurance is also tax free.
If you currently do not have life insurance it is definitely worth considering. If you already have life insurance it may be time to review your premium. Life insurance rates have fallen sharply in the past years. I have already saved some of my clients large amounts of money by quoting them and moving them into new, more affordable policies while still maintaining the same death benefit value as their old life policies.
Unfortunately today, thanks to obstacles like (death) taxes from the state and Federal Government it is not uncommon for even successful, decades long family business to die (tragically) alongside the business owner. The grieving widow, family or business partner is often left with no choice but to liquidate and sell off the business or its remaining assets to pay the costly double tax.
While many successful family businesses end abruptly with the death of an owner, life insurance can serve as a useful barrier to help offset the (death) taxes and other costs; as well as serving as a welcome resource all its own.
Sometimes when there are more business owners involved in a business, money may be needed to help replace the lost talent, such as through a new hire, training or with the replacement of the deceased's ongoing financial commitments in the business.
Today, in the 21st century life insurance is available and affordable for most who want it. Parents now have a tool that will ensure that their family isn't placed in an especially financially awkward or desperate situation on their death. Afterall, the death of a loved one is by itself too much grief and shock to want to deal with.
The good news is that some upfront planning and action right now can help prevent a sad situation of losing a loved one to being even a sadder situation of losing a loved one and going into debt or possibly losing your home.
Through the miracle of life insurance a person who may be otherwise unsuccessful in making a fortune in their life (or keeping it) can now suddenly be able to leave a tax free fortune for their loved ones, by the simple purchase of life insurance. Families can use the money for funeral expenses, credit card debt, to pay off the mortgage, school or auto loans among many other important living expenses; or they may use the money to invest for their future.
If you are currently single, you can use life insurance money towards your own funeral/burial expenses in addition to leaving a legacy, by contributing to a cause you believe in.
The amazing thing about life insurance is that it doesn't take years to accrue the death benefit, like other investments. Life insurance payout is payable on one's death or even before one's death in certain situations and the death benefit from life insurance is also tax free.
If you currently do not have life insurance it is definitely worth considering. If you already have life insurance it may be time to review your premium. Life insurance rates have fallen sharply in the past years. I have already saved some of my clients large amounts of money by quoting them and moving them into new, more affordable policies while still maintaining the same death benefit value as their old life policies.
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