News from Forbes:

With Halloween just around the corner, children’s thoughts turn to candy and costumes. Their parents and grandparents should be focusing on more macabre matters — like the life insurance policies they bought (or are thinking of buying) to secure the financial future of these little ghosts and goblins if a key provider dies.

Though life insurance can serve various purposes, for most people, it is a tool for income replacement — to pay the mortgage or foot the bill for college if the unthinkable happens. Often a term-life policy, which provides a preset death benefit when the insured person dies, is all they need. Premiums for these policies, typically offered for 10- or 15-year terms, have fallen sharply in recent years.

But unfortunately it’s not enough to stuff the policy in a drawer and forget about it. Here are some  that could escape your notice.

1. Rate increases. With a level premium, term-life policy, you’re guaranteed that the cost of the plan will not go up during the initial coverage period – for example, 10 or 15 years. But a……….. continues on Forbes.

Continue Reading …


Related News:


Extreme Producers: Their Insights And Secrets: Quick and easy-to-read ideas that will build your insurance and financial services career
In more than 20 years in insurance and financial services sales, I’ve had the privilege to talk with many of the top producers i…
Insurance Accounting: Insurance Accounting
This book is intended to fill a gap between too much information and too little. It is designed to give someone new to Insurance …