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Micky Gramlin
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Micky Gramlin   My Press Releases

Residual Income Series 12: Term Life Insurance

Published on 9/15/2018
For additional information  Click Here

 

Image result for term life insurance

 

Let me state my usual here, that I am no financial Guru and that I am researching options for myself and then sharing my discoveries with you. Always consult an Independent Financial Advisor when investing is a possibility for you. For one thing, laws change often and so do circumstances

 

 

Today we are taking a look at term life. Term life is usually bought when you want to protect your assets for yourself and/or your family from economic or catastrophic loss. Once your assets reach that level where you can absorb an economic loss without protection, you no longer need the coverage.

Designed to help people purchase protection that cannot afford whole or that may need coverage for a specific amount of time, term has a guaranteed death benefit but no cash value at all. Depending on the type of term life you buy determines when the premiums will increase.

Many choose term during times they are raising a family. It is an affordable way to make sure if one spouse would die, the surviving spouse can still maintain the needs of the family … such as a home and educational needs.

Related image

At times, you may have both term and whole life. You can term to supplement your whole life that can save you money. For example, you may buy a whole life based on your needs later in life when you no longer have a growing family and use a term to cover the time that you do. When the term expires then you can move that into your investment fund for retirement needs.

In conclusion on term life, there is no residual income. It is an investment on protecting your assets from sudden loss and your possible or current residual income. A protection for now that protects your future is a good way to look at it.

 

Thank you for stopping by!

Micky Gramlin

 

Source

newyorklife.com

cddwealth.com

investopedia.com

Wikipedia

Picture Source

Google

 

DigitalWorldConnection.com

 

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