Longest Financial Services at Freedom Financial Solutions
Financial services/ Living Benefits life insurance/ tax free retirement
Helped 2 friends of mine who's policies were expiring soon. Neither of the policies had living benefits ,which would pay them portion of the death benefit if they were to have a critical, chronic, or terminal condition manifest itself in the future.
They were approved in less than a week, despite being in the upper 50's age range. The wife was even upgraded to "Elite" status which reduced her premium because of excellent health.
Both are very happy & secure in the fact that if they have a major medical issue, injury , or accident, they will not be financially ruined & will have money available to pay their monthly bills as well as those medical bills not covered by health insurance.
Covid 19 has been a real eye opener to the world. At any given time you or someone you love could be a victim of a deadly disease. While not everyone dies from the disease, many have had adverse effects to their health & way of life. Physicians report that patients hospitalized for Covid-19 are experiencing high rates of blood clots that can cause strokes, heart attacks, lung blockages, and other complications. Physicians are seeing an uptick in strokes among young patients with Covid-19.
The blood clots also can travel to other organs, leading to ongoing health problems. For instance, pulmonary embolisms, which occur when the clots block circulation to the lungs, can cause ongoing "functional limitations," like fatigue, shortness of breath, heart palpitations, and discomfort when performing physical activity.
Similarly, blood clots in the kidneys can cause renal failure, which can cause life-long complications.
Physicians have also reported an increase in inflammation of and damage to the heart muscle in Covid-19 patients. One study published in March found that out of 416 hospitalized Covid-19 patients, 19% showed signs of heart damage.
Now, physicians warn that Covid-19 survivors may experience long-lasting cardiac damage and cardiovascular problems, which could increase their risk for heart attack and stroke. Doctors also warn Covid-19 could worsen existing heart problems, aas well as cuasing Respiratory issues and Neurological Symptoms.
If you have regular life insurance, it will only pay your beneficiary if you pass away from covid 19 or any other natural causes .
However, LIVING BENEFITS life insurance will compensate you if you have a heart attack, stroke, major organ failure, etc. brought on by the Covid 19 virus. (Even if you DON"T pass away!)
This will enable you to keep paying your regular bills & those medical expenses that may not be covered by your Health Insurance! Message or call/text me for more information. (443-786-4199)
Do you have the old life insurance or the New!?
Less than 1% of the policies out there have Living Benefits.
Most policies have one & only one trigger...Death!
But what if you or a loved one had a heart attack, stroke, cancer, etc. & you or they couldn't work anymore? How would you pay your Bill's? Would you be able to stay in your home? Would you lose your home, car,way of life???
Our companies pay in the event of such a tragedy & even more than those listed above.
Survey: How many of us have life insurance? And how many have enough of it?
JAY MACDONALD
While about 6 in 10 Americans say they own life insurance, nearly half of them may have insufficient coverage to address the financial needs of their family upon their demise, according to the latest Bankrate Money Pulse survey.
“You look at this and say, ‘Boy, there are a lot of families out there that are very underinsured!'” says Brendan Bridgeland, the director of the Center for Insurance Research, a nonprofit consumer organization based in Cambridge, Massachusetts.
Worrisome’ coverage amounts
The insured rate for those with whole, universal, variable or term life coverage follows the traditional upward age curve, increasing steadily from fewer than half of young people ages 18 to 29 (44%) to two-thirds having life insurance in the 65-and-over bracket (65%).
However, the benefit amount of those policies may leave survivors, especially young families, in financial trouble should their main wage earner pass away. Nearly half (47%) of insured respondents carry coverage amounts of $100,000 or less, including 21% with a benefit amount of $25,000 or less.
Especially vulnerable are families with children under 18. More than 1 in 3 of those parents (37%) have no life insurance at all, while a third of those who do have no more than $100,000 in coverage (32%).
“The $25,000 to $100,000 policies that you usually see in employer group plans may cover your funeral expenses, but they’re not going to pay off a mortgage or put a kid through college,” Bridgeland says. “It’s worrisome to me to see that half of those insured have those levels of coverage.”
The majority of Americans still get their life insurance as part of their group plan through their employer, and those plans are changing dramatically today,” Hasenauer notes.
“Before Obamacare, anybody who worked more than 30 hours a week got a package of benefits that included group life insurance, and it was included as part of the premium the employer paid,” she says. “But as employers have dropped their health insurance, what a lot of Americans didn’t realize is, they were also losing that burial insurance, the $20,000 or whatever it was to pay those last bills. That was a great benefit.”
Bridgeland agrees that employer group plans are changing, with or without health reform.
Do Whole Life Insurance Policies & Death Benefits Expire?
A common reader question is “Does whole life insurance ever expire?”
Whole life insurance is a permanent form of coverage. Permanent implies that the policy and death benefit should never reach an end, yet they often do – primarily because of choices the owner makes.
If you are the owner, the coverage remains in force as long for as long cash value remains. If you stop making payments or surrender the policy, all bets are off.
If you are the beneficiary, the death benefits remain payable indefinitely provided the owner did not allow the policy to lapse, or cash it in before he or she passed away.
Do Whole Life Insurance Policies Ever Expire?
Whole life insurance policies sometimes expire even though the issuing companies designed them to be a permanent form of coverage. Sometimes people live far longer than expected. Others times people’s needs change as they grow older and they may relinquish the contract voluntarily.
Do you have the old traditional life insurance? Have you heard of the NEW life insurance? The old pays out only if you pass away. With the new, you can access a portion of your death benefit to take care of your bill's in case you have a major medical event that prevents you from working.
One of the major causes of bankruptcy & foreclosures is medical bill.
14/11/2018
http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/November-2018/The-401k-Robbing-Americans-for-40-Years-Now.aspx #.W-PcKYAMhng.facebook
The 401(k): Robbing Americans for 40 Years Now Here are the ways your 401(k) takes more away from you, than what it is providing. Begin your path towards financial intelligence now.