Term Life & Disability

Insurance in its root meaning means, “guarantee against loss” or to “make certain.” As you and I both know, there are only two things in life that are certain, death and taxes.

When you apply for life insurance, the professional insurance agent will need to discern whether or not if you are insurable. Do you have the income to justify your purchase of an insurance product? The insurance agent will need to do a “field risk assessment” which means, what table you qualify for. If you are a preferred table A, your price that you pay for life insurance is more cost effective than a person who is rated a table H.

We love term insurance, it is the cheapest life product out there and with the help of an experienced, professional life agent, you will be able, in most cases, to secure a great term product at a great price.

Many of our clients are people who have a Mortgage Life Term product. When they purchased a home or refinanced their home, they contacted us and in most cases, purchased a Mortgage Life Term product.

Term insurance is renting security from an insurance company for a certain time period or term. People are very wise to purchase a life product for this reason. The word, MORTGAGE, is derived from a Latin word meaning: mort – mortuary or mortician and the rest of the word, GAGE – means, GRIP. In other words, a mortgage is a DEATH GRIP, it is not a DEATH GRIP on the person making the mortgage payments, and it is applied to the loved ones left behind, after the one paying the mortgage payment has died. Why? Because in the old days, losing their home was most likely a death sentence for ones left behind.

Insurance 101 – buy as much term insurance that you need while and buy it for as long as you can.

DISABILITY:  There are many insurance “riders” that you can purchase along with your life product, here are a few: Child Rider, Accidental Death, Wavier of Premium, Accelerated Death Rider, on and on we can go with riders.

When it comes to the Disability Rider you need to be very careful. You must find out what the definition is from the insurance company through your agent is. The best definition for a disability rider is: “IF YOU CAN NOT WORK YOUR JOB.”

Disability is a great idea, if you get hurt, if you are laid up; the insurance company is going to pay you a portion of your income for a certain time period. The time period could be from six months to two years and, if you are permanently disabled, most insurance companies will pay you for the remaining of your term product.

The best rider that I recommend is the Return of Premium rider. This rider allows you to receive your entire premium back that you paid into for all those years. Yes every dime comes back if, you do us a favor and not die.

We recommend the Return of Premium to those under the age of 40. Why? Remember, a rider will cost you extra premium each month. For young couples, this is a great rider to buy because it only cost a few extra dollars on your premium payment each month.