Combinations of Permanent and Term Life Insurance – The Benefits of Using Combinations of Permanent and Term Life Insurance

Combinations of Permanent and Term Life Insurance The Benefits of Using Combinations of Permanent and Term Life Insurance

Some people may find that combinations of permanent and term life insurance are the best for their particular situation. Both offer advantages and disadvantages to the policyholder and the beneficiaries. Often a combination is the best option. Permanent life insurance comes in the form of whole or universal life. It provides a permanent cash value based on the premiums paid on the policy. This ensures the beneficiaries of the policy receive something at the death of the named insured. But, term life insurance offers benefits as well. Covering lost wages is important if a parent dies with minor children. It is also important to consider the cost of filling the role of a primary care giver. There are many reasons to consider term life insurance.

Businesses often employ both permanent and term life insurance to cover key individuals such as owners or chief operating officers. The business will take a large blow at the loss of some individuals. It is important to provide adequate financial coverage to cover those losses. It may involve the need to bring in new employees or to invest in other securities. The permanent life policy will bring coverage throughout the life of the individual. The term life policy is a good option to employ during certain situations. A combination of both offers the business protection as well as providing for the heirs of the deceased.

Some people find various combinations offer good ways to provide both protection to their dependents and a legacy to their heirs. This particular option is a good way to plan for estate costs and taxes while preserving the bulk of the estate for the heirs. Term policies offer protection for particular assets such as houses. Permanent life policies work to protect the estate from taxes and costs. The individual can select the right balance between coverage and premium costs.

Using various combinations can give anyone options as far as balancing permanent cash value and increased insurance needs at particular times. The permanent policy provides the minimum cash value you want for heirs while the term policy provides protection of assets. Each person needs to evaluate his or her particular needs before buying any combination. Speaking with insurance and tax professionals is also a good idea. You can find the best combination of policies that will fit your needs and premium guidelines. This upfront work will ensure you can meet the needs of your business or family

If you would like more information on life insurance at prices half off the usual cost normally offered in the marketplace, visit our web site for a discounted rate quote on lifeinsurance.

http://www.articlesbase.com/insurance-articles/combinations-of-permanent-and-term-life-insurance-the-benefits-of-using-combinations-of-permanent-and-term-life-insurance-4506871.html

POST COMMENT

Evaluating Life Insurance Needs – Taking the Confusion out of Evaluating Life Insurance Needs Primary Purposes of Life Insurance – What are the Primary Purposes of Life Insurance? Single Premium Life Insurance – Answering Some Common Questions about Single Premium Life Insurance Types of Survivorship Life Insurance – Reviewing Two Types of Survivorship Life Insurance Types of Term Life Insurance – Looking at the Different Types of Term Life Insurance Types of Variable Life Insurance Products – Reviewing the Different Types of Variable Life Insurance Products Types of Whole Life Insurance – What are the Different Types of Whole Life Insurance? Variable Life Insurance Products – Understanding the Variable Life Insurance Products What Is Life Insurance? – What is Life Insurance? Advantages and Disadvantages of Survivorship Life Insurance – A Policy for Spouse with Real Estate Advantages and Disadvantages of Term Life Insurance – Some Things to Consider Characteristics of Whole Life Insurance – Many Variables Corporate Owned Life Insurance – Key Employees