Finally Something New in Low Cost Life Insurance

Living Benefit Term Life Insurance from Transamerica*

The author ,Randy Taylor has advised consumers on life insurance planning for 21 years while also advising financial planners, stock brokers, and insurance agents on product selection for an additional 10 years. Ca. License #0643596

* Not an offer of insurance and see a specimen policy for complete details while also consulting
with your financial advisors including tax professionals or attorneys before making decisions.

Much easier to apply for than traditional term insurance plans.

No blood test, no exam , and application can be taken online if you are in normal good health, and applying for less than $500,000 at ages 60 years old or younger.

More than just a death benefit

Terminal Illness payout: One of the ways that you can access tax free money when you need it most.

Should you be diagnosed with a terminal illness; you can ask for a small amount or most of the death benefit to be paid out to you while you are still alive. See your tax person for advice but consider that the advance is normally tax free and can be used for any purpose.

Critical Illness Benefit: (Not available in all states. Check with your insurance agent)

Should you be the victim of a stroke or heart attack you can also access part of the death benefit while alive; even you are not terminally ill as a result of the life event.
Of course once the policy is issued, you can select the guaranteed level premium period that best
suits yours needs and age. Guarantee periods can be as long as 30 years or as short as 10 years; depending on your age.

Suitable for Business or Personal Use: Shorter term periods are often ideal for partnership buy-sell agreements and longer term periods are available for needs such a mortgage payoff insurance.

In summary, you now have low cost term life insurance that allows you to replace all or part of income that would be lost if you had a life threatening event and need cash or an affordable traditional death benefit for your beneficiaries.
Article submitted by Randy Taylor, 10/31/2014 . Copyright: Creative Commons
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