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Why Buy Young and Why Do You Need Universal Life Insurance?

April 25, 2017

 

What Are Your Needs?

Family income protection:   Replace lost family income in the event of a wage earner's death and help fund future family expenses, such as a child's college education.

Estate Planning:   Used in estate planning providing liquidity to pay estate taxes.

Business Planning:   Particularly appealing to use when funding the buyout of a business.

Living Benefits:   The cash values can be used to help pay college expenses or provide for other income needs.

Greater Protection for the Unexpected:   Disability/ long term care rider allows monthly acceleration of the death benefit to cover expenses.

Legacy:    The impact you will leave on others, family/children, or you may want to consider a charitable donation as an important part of what you leave behind.

 

Why Buy Universal Life Insurance When You Are Young and Healthy?

Below is an approximate cost of $250,000 universal life insurance with a long term care rider: 

Male, age 35, preferred non smoker:  approximately $190 per month.

Male, age 40, preferred non smoker: approximately $235 per month.

Male, age 45, preferred non smoker: approximately $380 per month.

Male, age 50, preferred non smoker: approximately $470 per month.

Male, age 55, preferred non smoker: approximately $600 per month.


 

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