Villa Rose Associates Ltd.
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Villa Rose Associates Ltd.
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FOR IMMEDIATE RELEASE
WHOLE LIFE INSURANCE What is Whole Life Insurance? Whole Life Insurance is a low cost, guaranteed cash accumulation life insurance policy that provides LIVING and DEATH benefits. Can I accumulate money for my future? Whole Life Insurance is a cash accumulation plan which grows in value each year. The amount of available cash depends on the size of the policy you select. This policy provides you with Guaranteed cash values and paid-up insurance values that safeguard your future. How much protection can I purchase? Whole Life Insurance may be purchased for amounts of $5,000 and over. How much does it cost? Whole Life Insurance's cost is determined by you age, sex, cigarette smoking status, and the amount of protection you desire. For example, a 50 year old male non-smoke can buy $5,000 of coverage for about $12.00 per month. Can I add additional Riders? Whole Life Insurance offers disability wavier of premium, accidental death, and term insurance benefits. You can also request an Automatic Policy Loan (APL) which allows that if for some reason you forget to make a payment, the payment will be deducted from the accumulated cash value, and thereby keeping the policy in force. Can Whole Life Insurance protect my spouse, children or mortgage? Whole Life Insurance is totally flexible and allows you to select the amount of protection you desire in order to meet your special needs. Who will issue the policy? Whole Life Insurance is obtained from agents of insurance companies. Insurance companies are rated by an independent rating company called A.M. Best Company. A+ rating is the highest rating and generally means a superior company financially.
Basic Uses of Life Insurance
Life Insurance Facts The American Council of Life Insurance (ACLI) provides a free booklet with a step-by-step process of purchasing life insurance. The booklet provides simple insurance buying tips, how to find an Agent, and the questions to ask an agent. ACLI is a trade association of more than 600 life insurance companies that together provide approximately 90% of life insurance in the U.S. They have a free booklet entitled "What You Should Know About Buying Life Insurance" which can be obtained by calling (800) 338-4471. Note: Both Jeffrey Rosenthal and Margaret Diaz are independent Life and Health Insurance Agents. Shopping for Insurance A simple and economical way to shop for term insurance or any insurance is to meet with several agents. Your concerns are coverage, benefits and cost. CAUTION: The least expense policy is not always the best value. The lowest quote for a term policy may require the applicant to requalify for coverage in a few years, while a slightly more expensive policy guarantees coverage at the same rate for a longer period. Locating A Missing Insurance Policy Many times when a person dies, the location of his/her insurance policy is known. The policy may be tracked down through: Missing Policy Search, American Council of Life Insurance, 1001 Pennsylvania Ave, N.W., Washington, D.C. 20004. The Council also maintains a list of companies that have merged. changed names, or gone out of business. Keeping Track Of Hidden Insurance Benefits Many people have insurance coverage that they are unaware of or have forgotten. If these people die accidentally, it is probable that the insurance payout will not be made because a spouse or next of kin is unaware of the policy. Keep a file of all insurance policies. Include those received through credit card companies, auto clubs, credit unions, banks, clubs, associations, etc. 10-Day FREE Look Most people are not aware that they have up to 10 days after an insurance policy arrives in the mail to cancel it and receive a FULL REFUND. Insure The Parent, NOT THE CHILD In order to protect a child, a parent needs insurance on his/her life and not on the child's life. If a parent dies the child will receive the funds needed for such things as a college education. An insurance agent may argue that a child's premium is very low and that the insurance policy will protect the insurability of the child should the child become chronically ill. It is a Policy of both Jeffrey Rosenthal and Margaret Diaz to NOT offer Life Insurance Policies for children. Riders A excellent rider to add to your policy, if your state does not require it, is a AUTOMATIC POLICY LOAN (APL) provision. This provision prevents accidental cancellation of the policy for non-payment of premiums. In the event of non-payment it uses any accumulated cash value to make the payments. However, if there is no cash value the policy will lapse.
Insurance Company Ratings
-CHECK LIFE INSURERS-
This rating system is for an informed insurance consumer, and NOT an endorsement by Either Jeffrey Rosenthal or Margaret Diaz of of any company. * Only A.M. Best charges for a rating by phone - $2.50 a minute. Your agent should be able to provide a FREE A.M. Best guide for the proposed Insurance Carrier. This material is not intended to replace specific advice for your situation. You are advised to discuss your situation with a qualified attorney, tax advisor, financial advisor, or insurance agent. The rules are quite complex and we did not intend to over-simplify these complicated rules. Our intention was to familiarize you the the concepts and vocabulary so that you may have an informed discussion with a qualified professional. |
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