Partners BrandVoice Impact: Life insurance for the living? • forbes.com

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"I have enough life insurance to bury me."

That's what most people tell me. Many of my clients speak easily about stocks, bonds and real estate, but they often do not understand the many uses of life insurance in addition to the death benefit. In my experience, these benefits are usually only discovered too late.

Today, life insurance policies offer financial protection and flexibility to the deceased and the living.

Today, life insurance policies offer financial protection and flexibility to the deceased and the living.Getty Images

Not just a death benefit

Here are some other statements I've heard many times in 26 years in the insurance industry:

· "If you can cover the cost of funerals, life insurance is not necessary."

· "Life insurance only benefits me when I'm dead."

· "Our investments make us self-insured."

These are narrow perspectives on life insurance, and they come from people from all walks of life. Why has a financial product as important as life insurance become stereotyped into a single benefit?

Live benefits

Today, life insurance policies offer financial protection and flexibility to the deceased. and the alive. Some good reasons to buy life insurance include:

· Leave a legacy to loved ones.

· Pay off the debt.

· Replacement of lost wages.

· Pay off a mortgage.

· Income supplement.

Some examples of insurance policies:

· An interment policy covers only burial and funeral expenses.

· Generally, whole life insurance policies last up to 100 years and often have additional features.

· The cost of term life insurance products is relatively lower than that of the whole life, but it is a term insurance, established for a given period and the monetary value is low or even zero.

· With products with universal life or variable life, you earn interest related to the performance of a market index and they tend to be flexible with many moving parts.

You may already know some or all of these products, but you may think that they all need the death of someone to activate it. However, many of these products can be creatively packaged to provide additional life-benefit protection through a variety of optional users.

· Some products allow the payment to trigger during the development of a serious or terminal illness of the insured, a benefit for home care or outpatient.

· Some users allow homeowners to give or withdraw from the market value of the product a loan with income potential.

· Other policies include accidental death and dismemberment coverage, which assists the insured in the event of limb loss or vision loss.

· Some fonts can be used to create an immediate or predetermined income stream at a certain age. One of the methods that is increasingly popular is access to the cash value of a life insurance policy through university savings loan loans.

Products to keep you going for life

Better yet, Life products can be customized to meet the individual needs of each customer. Today, consumers have more power and knowledge than ever before about insurance, but agents can be extremely helpful in developing personalized strategies. The best way to find out what is possible is to make an appointment with your insurance agent.

If you think that insurance only has value in death, think again. You have many options to properly protect your estate when you are still alive. As the saying goes, "You do not buy life insurance because you will die, but because those you love will live."

This content was brought to you by Impact PartnersVoice. Insurance and annuities offered by Jeff L. Jones, Insurance License No. 437244. All the benefits and benefits of the insurance policy are subject to the ability of the issuing insurance company to settle the claims. Distributions are made through loans and withdrawals, which reduces the cash value and death benefit of a policy and may result in its expiration. DT006059-1219

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"I have enough life insurance to bury me."

That's what most people tell me. Many of my clients speak easily about stocks, bonds and real estate, but they often do not understand the many uses of life insurance in addition to the death benefit. In my experience, these benefits are usually only discovered too late.

Today, life insurance policies offer financial protection and flexibility to the deceased and the living.

Today, life insurance policies offer financial protection and flexibility to the deceased and the living.Getty Images

Not just a death benefit

Here are some other statements I've heard many times in 26 years in the insurance industry:

· "If you can cover the cost of funerals, life insurance is not necessary."

· "Life insurance only benefits me when I'm dead."

· "Our investments make us self-insured."

These are narrow perspectives on life insurance, and they come from people from all walks of life. Why has a financial product as important as life insurance become stereotyped into a single benefit?

Live benefits

Today, life insurance policies offer financial protection and flexibility to the deceased. and the alive. Some good reasons to buy life insurance include:

· Leave a legacy to loved ones.

· Pay off the debt.

· Replacement of lost wages.

· Pay off a mortgage.

· Income supplement.

Some examples of insurance policies:

· An interment policy covers only burial and funeral expenses.

· Generally, whole life insurance policies last up to 100 years and often have additional features.

· The cost of term life insurance products is relatively lower than that of the whole life, but it is a term insurance, established for a given period and the monetary value is low or even zero.

· With products with universal life or variable life, you earn interest related to the performance of a market index and they tend to be flexible with many moving parts.

You may already know some or all of these products, but you may think that they all need the death of someone to activate it. However, many of these products can be creatively packaged to provide additional life-benefit protection through a variety of optional users.

· Some products allow the payment to trigger during the development of a serious or terminal illness of the insured, a benefit for home care or outpatient.

· Some users allow homeowners to give or withdraw from the market value of the product a loan with income potential.

· Other policies include accidental death and dismemberment coverage, which assists the insured in the event of limb loss or vision loss.

· Some fonts can be used to create an immediate or predetermined income stream at a certain age. One of the methods that is increasingly popular is access to the cash value of a life insurance policy through university savings loan loans.

Products to keep you going for life

Better yet, Life products can be customized to meet the individual needs of each customer. Today, consumers have more power and knowledge than ever before about insurance, but agents can be extremely helpful in developing personalized strategies. The best way to find out what is possible is to make an appointment with your insurance agent.

If you think that insurance only has value in death, think again. You have many options to properly protect your estate when you are still alive. As the saying goes, "You do not buy life insurance because you will die, but because those you love will live."

This content was brought to you by Impact PartnersVoice. Insurance and annuities offered by Jeff L. Jones, Insurance License No. 437244. All the benefits and benefits of the insurance policy are subject to the ability of the issuing insurance company to settle the claims. Distributions are made through loans and withdrawals, which reduces the cash value and death benefit of a policy and may result in its expiration. DT006059-1219