Who Needs life insurance?
that is a very good question and the answer may be surprising. If you have someone that you care about in this world then you need life insurance. You wouldn’t be alone if the thought of your passing seems morbid or like something that you don’t want to think about lets face it the topic of life insurance maybe the last thing you want to think about but in my opinion it should be the first. Responsible people are planners what better to plan for than the inevitable? none of us are going to live forever and the last thing we want is to burden our loved ones at a time where they are reeling from the absence of someone they care about. If you are in the Alexandria Virginia(VA) area and want a consultation from one of our friendly life insurance brokers we are available by appointment or to provide a quote over the phone. We have the experience to Taylor your life insurance policy to your needs. Many people have questions over new products like Infinite Banking, Funding and borrowing against your life insurance policy and what is the correct amount that your family will need when that time comes.
What does it look like when I borrow against my life Insurance?
Funding your life insurance policy the right way can be a very savvy and strategic investment move. Many banks and loan companies will use the underlying value of your life insurance policy for collateral for a personal or business loan. RightAway Insurance of Alexandria is the place to start if you have questions. We can personalize a Universal life policy whether indexed or non indexed for you with the right setup to build value allowing yourself to qualify for loans using collateral that your DTI(Debt to income) may not traditionally allow you to qualify for. Life insurance shouldn’t be used only as an investment vehicle but it can be another tool in your expanding portfolio that you can utilize for your benefit. The best time to get life insurance when you are younger and the premiums can be locked in before any health issues arise.
Can I have more than one Life insurance policy?
While not always recommended some people strategically purchase term life insurance for specific periods in their lives and ultimately end up either wanting more of a death benefit or wanting a policy that will not expire. In these specific cases the term life policy may have served its purpose but you may want to invest in a Whole life policy for the long term. Rightaway Insurance of Alexandria provides both indexed whole life and non indexed Life insurance products
What is the difference between indexed and non indexed life insurance
An indexed life insurance policy has the potential upside of being able to participate in the stock market doing well. While you may see an increased rate of return when the market is doing well a knowledgeable Life insurance broker at Rightaway Insurance of Alexandria may also be able to limit or cap your downside exposure should the market experience volatility.
