Life insurance isn’t nearly as expensive as most people think
Most people overestimate the true cost of life insurance. In fact, 44% of Millennials think it costs more than five times what it actually does, according to research from Life Happens, a non-profit organization.
It isn’t just a death benefit
Life insurance is an important part of a retirement strategy. You can use cash value insurance while you’re still alive as a tax-advantage or tax-free stream of cash flow without many disadvantages that other options have, like a market loss. Indexed Universal Life Insurance is a strategy Cigar Life Guy® has successfully helped many families use.
Protection for business owners
Are you a business owner? Do you have partners? Do you have a plan in place if something happens to you or one of your partners? Life insurance can ensure that your business doesn’t need to be sold at an inopportune time.
Protect your future insurability
If you are young and healthy, insurance will be inexpensive. Even if you don’t have huge needs now (maybe you’re single with no kids, no mortgage or etc.), you may have needs later. The worst time to buy insurance is when you really need it, like after the doctor tells you some bad health news. If your health changes, your insurance will be more expensive and that’s if you qualify at all. Buying life insurance for cigar smokers now locks you in at a lower rate. If you get a term policy, most come with a conversion privilege meaning you can exchange the term life policy for a permanent life policy without having to re-qualify your medical history. Simply fill out some paperwork and pay the new premium.
Tip: Conversion options vary greatly. So, make sure you understand the options offered by the policy you select.
Do you have existing insurance and your health has taken a turn for the worse? Often, your best option after a change in health is exercising your conversion option. Cigar Life Guy® can help with your conversion options even if you got your original policy somewhere else. Call us today to discuss your life insurance needs further.