| Here are some commonly asked questions regarding insurance. Please feel free to email us if you have any that aren't answered in this section. |
Why should I purchase Life Insurance now?
Because you are young and healthy and you can qualify for the least
expensive premiums. Premiums increase as you get older and if you
develop an illness you may become uninsurable.
What are some of the reasons to buy life insurance?
I’m not married, have no children, and have no responsibility why do I
need insurance?
Right now you might not; but why not plan for your future now while you
are young and healthy.
How does life insurance affect my future pension?
Taking a pension option could cost you as much as 20% of your
pension. Life insurance allows you to take your full pension while
leaving your family and children with the financial security they need.
For example:
Provided that Retiree is in good health, the alternative to taking a lower
pension is to secure the Spouse and children/grandchildren through a
life insurance policy. The Retiree takes his full pension and purchases
a life insurance policy. Why you may ask? Life insurance is much less
expensive than giving up a part of the pension. Life insurance proceeds
are tax free. Life insurance proceeds can be invested and Spouse will
continue to get an annual benefit and principal sum can be passed on to
children and grandchildren.
I already have group life insurance with my employer. Why do I need
an individual policy?
Premiums for insurance through the job or corporate are based on all
participants no matter the age, no matter the health status, including
smokers, those that are overweight, those with high cholesterol, or
possibly worse health issues. Therefore, your premiums are much
higher than purchasing an individual policy based SOLELY on your age
and your health status.
Should you ever purchase Group Life Insurance?
Yes, but only if your health is so bad that you cannot purchase an
individual policy. If you wait until you become sick, you may not qualify for
an individual policy, or it may be cost prohibitive for you to purchase it.
Purchasing an individual policy while you are young and healthy will
protect you from having to rely on an insufficient group plan.
Can Group rates increase?
Absolutely, and at some point they will. Rates for Term Life Policies are
guaranteed for the duration of the policy period and cannot increase
during that time.
Because you are young and healthy and you can qualify for the least
expensive premiums. Premiums increase as you get older and if you
develop an illness you may become uninsurable.
What are some of the reasons to buy life insurance?
- (a) Life insurance can replace income lost to surviving family
members upon the death of the wage earner.
(b) Creating an inheritance for your loved ones.
(c) Life insurance can be used to fund funeral and burial
expenses, probate and other estate costs, debts and medical
expenses that a person may accrue prior to death.
(d) Life insurance proceeds can be used to pay off mortgages.
(e) Life insurance proceeds can be used to pay estate taxes so
that heirs will not be forced to liquidate other assets.
(f) Donation to charity by making the charity a beneficiary of a life
insurance policy.
(g) Business continuation in the event of the death of an owner or
a key person.
(h) To protect a partnership or corporation, if an owner dies.
(i) To fund a Special Needs Trusts for a disabled person.
I’m not married, have no children, and have no responsibility why do I
need insurance?
Right now you might not; but why not plan for your future now while you
are young and healthy.
How does life insurance affect my future pension?
Taking a pension option could cost you as much as 20% of your
pension. Life insurance allows you to take your full pension while
leaving your family and children with the financial security they need.
For example:
- In case 1, Spouse is not protected. When Retiree dies pension
ends. - In case 2, Retiree loses $8,000 annually to protect Spouse for
the same $32,000 annually. Should Spouse predecease the
Retiree. The financial loss in 20 years will be $160,000. - In case 2 or 3, not only does Retiree lose a significant amount of
money, but the pension ends on the death of the Retiree and
Spouse.
Provided that Retiree is in good health, the alternative to taking a lower
pension is to secure the Spouse and children/grandchildren through a
life insurance policy. The Retiree takes his full pension and purchases
a life insurance policy. Why you may ask? Life insurance is much less
expensive than giving up a part of the pension. Life insurance proceeds
are tax free. Life insurance proceeds can be invested and Spouse will
continue to get an annual benefit and principal sum can be passed on to
children and grandchildren.
I already have group life insurance with my employer. Why do I need
an individual policy?
Premiums for insurance through the job or corporate are based on all
participants no matter the age, no matter the health status, including
smokers, those that are overweight, those with high cholesterol, or
possibly worse health issues. Therefore, your premiums are much
higher than purchasing an individual policy based SOLELY on your age
and your health status.
Should you ever purchase Group Life Insurance?
Yes, but only if your health is so bad that you cannot purchase an
individual policy. If you wait until you become sick, you may not qualify for
an individual policy, or it may be cost prohibitive for you to purchase it.
Purchasing an individual policy while you are young and healthy will
protect you from having to rely on an insufficient group plan.
Can Group rates increase?
Absolutely, and at some point they will. Rates for Term Life Policies are
guaranteed for the duration of the policy period and cannot increase
during that time.
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| FOR MORE INFORMATION OR TO SCHEDULE A FREE INDIVIDUAL OR GROUP CONSULTATION, CALL US AT 718-336-4745 OR USE OUR TOLL FREE NUMBER 866-947-9550 OR EMAIL US AT lifeinsurancesuperstore@ yahoo.com. You can contact us by email or directly through this website by clicking here to send us your information! |
New Era Planning
347 Avenue X
Brooklyn, NY 11223
Phone:
718-336-4745
Toll Free:
866-947-9550
FAX:
718 336-5748
Email:
lifeinsurancesuperstore
@yahoo.com
347 Avenue X
Brooklyn, NY 11223
Phone:
718-336-4745
Toll Free:
866-947-9550
FAX:
718 336-5748
Email:
lifeinsurancesuperstore
@yahoo.com
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