Preferred Financial Group

"We listen, we educate, then we perform like no one else in the industry."

Examples

 

Scenario:

  • Single parent, age 27
  • 2 dependents, ages 3 & 6
  • earnings $75,000/yr

 

  • Reasons For Coverage:
  • Burial and other final expenses—Costs within this category can easily amount to $10,000-$20,000.
  • Peace of mind—knowing others will not have to be responsible for debts you incurred or expenses incurred on your behalf.
  • Lock in a low premium at a young age—premiums for life insurance can easily double between ages 23 and 45……..a $1,000,000, ten year term policy for a male aged 27 can be as low as $150 per month, while the same policy at age 37 would cost approximately $300 per month.

 

  • Reasons To Consider Coverage:
  • Provide a nest egg for your future and/or unexpected emergencies—the cash value feature found in a variety of life insurance policies is easily accessible when needed for any purpose.
  • Income replacement—Proceeds from a life insurance policy can replace lost income from the insured due to death.
  • Provide funds for college—Proceeds from a life insurance policy are not restricted in use so it is a perfect solution to insuring that college funds are available to the family in the event of the premature death of the breadwinner. On the brighter side, a properly selected cash value policy will have funds available to the policy holder as a loan.
  • Mortgage Protection—the right term decreasing term policy will pay off the family's mortgage at the untimely death of the breadwinner enabling the family to remain home  

 

  • Too Soon To Consider Coverage:
  • Supplement your retirement plan—the potential build-up of cash value from a life insurance policy during your working years can be used as supplemental income during your retired years.
  • As a tool for estate planning—you can transfer more wealth to your family if a life insurance policy is part of your estate

 

  • Overview: