Providing Insurance & Financial Services
Automobile insurance which is required by State Law, helps drivers cover in case of automobile accidents. Health insurance covers cost of medical care. But Life insurance? Is it needed? And What is it exactly since every life eventually ends?
To put it simply, life insurance is a way to help manage financial risks resulting from death. No, it isn't a necessity for everyone, but some individuals and family can benefit from having coverages.
A life insurance is a contract that promises to pay a specific amount of money to your love ones or beneficiary upon your death.
Who needs life Insurance?
"Ask youself: Is anyone economically dependent on you for their livelihood?" If the answer is yes, you probably need to purchase Life Insurance.
How much life insurance is enough?
A good rule of thumb is to have a policy worth $500K - $1M. That may sound like a lot of money, but consider everything that will have to be provided for if the family breadwinner should die. If too much to consider, do your home work and figure out the dollar amounts of all lost income and projected income, debts including mortgage payments, planned college costs, costs of living increase, retirement benefits, anticipated interest rate, asset and other forseeable costs like estate tax, etc. If that is a lot of work, call us to figure out your needs of life insurance. BAP experts are waiting for your phone call 24/7.
Most Common Forms of Life Insurance
- Term LIfe: Temporary life insurance that provides protection only for specified period of time.
- Universal Life: Universal life insurance is designed to remain in force for the life of the insured individulal.
- Whole Life: Life insurance that provides coverages for an individual's whole life, rather than a specific term. A saving component, called cash value or loan value, build over time and can be used for wealth accumulation.
Buying Life insurance policy
After familiarizing yourself with the basic types of Life Insurance Policies -- term, whole, or UL, for example -- it's time to investigate costs. The cost of the same life insurance coverages can vary considerbly from companies to companies. Often, relatively small mutual companies charge lower rates. But remember the cheapest doesn't mean the best. What if you need to maintain your life insurance policy? What if you need to add an endorsement and need an expert advise? Can you trust your investment since this isn't one time commitment? Generally speaking, life insurers are in excellent financial health. They are required by law to maintain reserves to guarantee that they can meet obligations to their policy holders. Nevertheless, we shop 20 different carriers for you for your needs. At BAP, everything is possible as we are your personal insurance agent and we shop for you from 20 different, A+ rated, top class Life insures.
As your agent.
1. We will begin discussing your financial needs.
2. We will obtain yoru personal financial information available along with your general idea of your goals.
3. We will explain types the different kinds of policies and other life related matters.
4. We will discuss & listen to you and look for ways to find the right type of insurance.
5. We will shop for the best of the best carriers to match your needs.
5. After the purchase, we will review your life insurance needs from time to time and as your circumstances change as well as help in the claims process. Incase if you need to obain money from your cash value or needs any services, we will friendly help you to walk through the process.
Life insurance is a life time commitment.
We have learned the value of personal and friendly service. That means you can count on us to provide you with fast, friendly and efficient services. I personally have been an insurance agent for nearly 10 years, and we promise to be there next 30 years to service your needs.
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