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Life Insurance Article Directory
Whether you own a business or are employed by one, you know that life insurance is an important part of your financial security equation. Some say it is a precaution that all families should take. I say that it is the most important precaution.
Lots of people - especially our lawyers and accountants - have opinions about what kinds of life insurance we should own. For example there's universal life, whole life, term and a raft of policies that combine elements of them all.
Some experts content that life insurance is protection against lost income-- no more, no less. If that's your opinion - and you know precisely how long that protection against a loss of income will last, maybe a term insurance policy is right for you.
Term life insurance is the original form of life insurance and is considered to. It was conceived as protection for a specific term of time - like how long it would take for your ship to sail from England to New York and back. After you returned and were celebrating in the pub, well - you'd be on your own for that.
Eventually the actuaries figured out a way to provide you with a level premium year after year and if you beat the odds and didn't go down at sea, get knocked off in a bar, run over by the fire brigade, of contract some dread disease - social or otherwise, they'd give you some, all, or more of your money back.
As you can see, life insurance is a risk management tool available to protect against loss of life, yours. Which life insurance should you own? Which is more or less expensive - bow do you define expensive anyway - permanent or term?
Life insurance to protect the young family morphs into life insurance to pay the mortgage on your second home or to guarantee your son's and daughter's graduate school (in case they don't make it in pro ball).
The need for life insurance continues as a way to guarantee your grandchildren's education, which later becomes a need for life insurance to subsidize funds set aside for your retirement. And then there are all those pesky "final expenses" - paying for the things you committed yourself to, when you thought you would life forever.
With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals.
Don't get me wrong I am not putting down term life insurance. It gives you the protection you need immediately and cheaply (in terms of the money you spend for it today). It offers the most affordable life insurance coverage for your family. And isn't this why you buy life insurance in the first place?
Beyond term insurance, which you can by for almost nothing online, and permanent life insurance that, in my opinion, requires that you have a close personal relationship with a trained and experienced life insurance agent - there are all sorts of hybrids.
For example universal Life insurance, a variation of Whole Life offering more flexibility while providing a permanent death benefit to those who depend on you. Or variable universal life, a form of cash-value insurance with even greater flexibility over time.
So, depending on your needs you may choose a term, universal, variable universal, whole life or guaranteed issue life insurance policy. With all these variations you will be able to find a combination of coverages that suits your personal circumstances.
Life insurance is a long-term commitment, but so are your responsibilities to your family and your business. Life insurance brings money TO your family and business so YOU can keep the promises you made.
How much and what kind of life insurance do you need? What is right for you today? How can you figure that out on your own - so you won't fall prey to sales people who are better prepared at selling what they have than you are at buying what you need?
That's why we collected three hundred or so articles about life insurance. We figured that the more you know the better decisions you are likely to make.
Just remember, knowing is a good thing, but knowing isn't doing. At the end of the day what you do with what you know is all that really matters.
Life Insurance For A Successful Business Owner, Life Insurance is ALWAYS The Answer
If life insurance is ALWAYS the answer, what's the question?
The question is, “what is the most effective way of adding cash to your business, at the most and often the most unexpected time?”
When someone dies, usually a surprise to everybody, cash is required. It’s required to repay loans, it’s required to replace a key person, and it’s required to pay taxes.
Make no mistake about it, cash will be required and it will have to come from someplace.
Where will the cash come from? Will someone drop off a check, will you simply take the cash out of savings, or will you have to raise the money some other way?
In over three decades working with business owners I can count on the fingers of one hand the number of people who had the liquid assets required to pay all the bills.
If you are one of those rare individuals I salute you. I am sure that sort of financial security did not happen by accident.
Let’s face it, these people had to be successful enough to make enough of a profit (after income taxes) to save enough money (taxes again?) and have enough time for it to multiply - thanks to the miracle of compound interest.
Does it make sense to use these dollars - that were so hard to create - to pay taxes and loans? Especially when they could have bought the dollars they would need for these expenses, for literally pennies apiece.
Read the whole story on our blog at,
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