Life Insurance Planning- Finding the plan that fits!

Life Insurance Planning should be the bedrock of any serious financial, retirement or estate plan.

According to surveys with LIMRA, Americans continue to see the value in life insurance planning. In fact, six in 10 people own life insurance, and for those who don’t have it many agree they need it.

Life Insurance Planning can be as simple as replacing the breadwinners income or making sure college tuition can be afforded. Many people just want to make sure the mortgage can be paid if something unforeseen occurs. Life insurance planning for these common concerns is vital. In today’s world, no one can know exactly how long they will live  but with careful life insurance planning you can be ready when life throw’s you a curve-ball.

Now with the ease of online quoting  and with many health conditions now considered insurable, life insurance protection is now easier to obtain and more affordable than ever before.

Why do many not have any or very little life insurance? Frankly, most people don’t like to think about their own mortality. It’s not a pleasant thing to think about. Therefore, many people simply put off this vital protection. Other reasons that life insurance planning is not done is many people believe its too expensive or too complicated or feel they cannot qualify for coverage. A good independent insurance broker can show you your options and research the marketplace for personalized solutions for your particular situation.

Let’s look at a couple of examples, a male age 35 non-tobacco user who qualifies at the best underwriting risk class in today’s marketplace. For less than $40 per month you could lock in $1 million of protection. And this rate would be guaranteed to remain level for 20 years. This is really quite remarkable. For about the price of one good meal out per month you can protect your family with $1 million of coverage. A 45 year old female non-tobacco user who qualifies at the best risk class could purchase a $ 1 million for approximately $70 per month.

It is estimated today that it costs nearly $250,000 to raise one child in the United States. Without proper life insurance planning many families are one unexpected event away from financial peril.

LIMRA has found that over half of the households in America would feel the financial impact from the loss of their primary wage earner in a year or less. In fact, over 40 percent would feel the impact within 6 months, including nearly 40 percent of households with an annual income of $100,000 or more.

Life insurance planning can also play a vital role in retirement and estate planning. A life insurance policy is another tool that can be used to help accumulate funds on a tax-deferred basis. In addition, those funds if properly accessed are allowed to be distributed on a tax-free basis. Using life insurance planning for your retirement needs is something many financial advisers overlook. Ed Slott, more commonly known as the “IRA GURU”  and a leading tax adviser recommends using life insurance as an invaluable planning tool. You can see his video here  on how to use life insurance in your retirement planning.

Life Insurance planning also can play a huge role in estate planning. Many individuals today belong to blended families. Their could be step children, adopted children, one or more ex-spouses or other family dynamics that make using life insurance essential when planning your estate. Life insurance placed inside of an irrevocable trust to help minimize the effect that taxes may have on the estate.

Life insurance can also be used to help with the tax hit that an IRA may have on children or spouses. Life insurance uses the power of leverage to create more money. Money distributed by an IRA can be used to fund a life insurance policy which then creates multiples of the original IRA amount as tax free death benefit. This money at death can then be used to help pay taxes, fund a charity or simply pass on an estate that was much larger than the original IRA.

When choosing a life insurance company for your planning needs you want to be sure and select not only an agency that is independent and can give you a wide selections of carriers to choose from, but also a company that is highly rated with the independent rating services. Companies like A.M. Best, Standard & Poors and Moody’s offer you an independent analysis to the strengths and weakness of every insurance company.

As you can see the uses of life insurance planning are endless. If you need assistance with any area of your life insurance planning whether it be simple income replacement or more advanced planning techniques please contact us at 1-888-393-9300 or mike@specialriskterm.com

For a FREE quote

Call, text, email or fill out our instant quote form:

Call: 678-207-8160
Text: 678-207-8160
Email: mike@specialriskterm.com
Instant quote form: Click here

How can I help?

Mike Raines

I am an independent life insurance agent with over 30 years’ experience. I am an expert in finding coverage for those with past or current medical history such as heart disease, diabetes, post cancer, etc. I also specialize in those that participate in scuba diving, mountain climbing, private pilots, etc. I work with the best life insurance companies in the nation, such as Prudential, AIG, Protective Life, Transamerica to name a few. Each carrier has different opinions on rates and underwriting, and it is my job to match you with the best company. To do that, I need to ask you a few questions about your health and lifestyle to qualify you.

For a FREE quote, call, text or email:

Call: 678-207-8160

Text: 678-207-8160

Email: mike@specialriskterm.com

Mailing Address:
3482 Keith Bridge Road Suite #125
Cumming, GA 30041

Testimonials

Best rates and best service I have ever received.

- Robert from Kennesaw, GA.

I tried several places before I came across Mike’s website. The insurance at these other places was either very expensive, or the company wouldn’t cover me because of my health history. Mike was able to find me a reasonably priced policy with a major insurer. He did a great job locating a policy that works well for me.

- Jeff from Hermon, ME.

Mike and his team made the entire process from start to finish very seamless and also overcame the task with us being multiple states apart with ease. With the easy process and very competitive priced insurance for high risk athletes, you have no need to look anywhere else for coverage. Thanks to Mike and his team for all they did and I highly recommend them for your Special Risk Life Insurance needs.

- Tyler C. from Danville, VT.

I could not be happier working with Mike Raines to get life insurance coverage for myself after having been declined for health reasons by my employer. My wife and I just had a son and it had become more imperative than ever that my family be protected if I were to pass away. The health screening appointment was conducted at my home around my schedule, which was very convenient. It was clear to me that Mike went above and beyond to make sure the underwriter fully understood my situation, going to bat for me so that I would not be declined again. I am a very happy customer.

- Daniel S. from Seaside, CA.

Mike did an awesome job in finding affordable coverage for myself and my husband. Highly recommend his services.

- Shannon from Atlanta, GA.

Two Thumbs Up for Mike at Special Risk Term

- Yaniv from Troy, MO.

Mike did an outstanding job getting me my coverage. He went above and beyond answering all my questions. He always returned my calls immediately even on the weekends!!! I highly recommend him.

- Aileen from Woodstock, GA.

As someone with a past cancer diagnosis, finding life insurance had been a huge annoyance. Mike made it easy, and somehow found quotes that were significantly more affordable than what others gave me.

- Matthew from St. Louis, MO.

It’s not easy to find life insurance with a chronic condition such as crohn’s disease which is why I greatly appreciated having Mike on my team. Mike is responsive, patient, professional and indefatigable- all things you need when you’re looking for a competitive policy. Knowing my family will be taken care is not only a relief but a huge confidence boost and I’m thankful Mike works in the special risk insurance arena. I would absolutely work with him again. Thank you Mike!

- Bobby from Washington D.C.
About SpecialRiskTerm.com
About SpecialRiskTerm.com

We work with individuals across the nation to secure the best life insurance rates.

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