WHY Buy?
POSTED ON JULY 7, 2020 BY WEALTHPLANMAN
Why Buy Life or Health Insurance from Jenings Insurance?
JeningsInsurance.com is different because it offers you a personal touch to an impersonal product.
Life Insurance in some cases might be the most important purchase that you ever make.
Most claim a home is your most important purchase. Typically, a home is your most expensive purchase, but your life and your economic and financial well being I would argue are more transcendent than the house or building you reside in.
Do not get me wrong I totally believe in owning versus renting when it makes sense.
I know that your house is paid for if you should die would allow your wife/husband and children (if you have them) to overcome the loss of a mom or dad.
THE CENTRAL REASON
Why you should buy insurance through me is that I ask you the right questions that help you get the right policy. If you just want to have a quick quote and get $100,000 of 10-year term coverage and pay under $10 a month then go to PolicyGenius or this Link:
https://app.ethoslife.com?p=jifswpm777 This link takes about a minute to get a quote and about 5 to 15 minutes with an A+ rated carrier.
If however, you want to get properly protected you need to see what your real risk is.
The policy you pay for that cost $10 a month and $120 a year and for 10 years runs $1,200 is worthless if you live. You plan on living right?
Ask yourself why do insurance companies sell these policies so cheap?
Who Benefits by You Living?
Its because they know it is a 99% or better chance, they will never pay you a dime back to your family. It is a win for them because of the Thousands of policies they take in MORE then what they lose!
You want these companies to take in more because if you die, you want them to come out and pay the claim for you and have the resources to cover your family in their time of need.
The 10-year term is great to buy but if you pay $1200 over the life policy or $12,000 or $120,000 and you end up living you GAVE the insurance company all that money that could have grown. (the word to look for is Opportunity Cost)
Term insurance is the most expensive way to buy an insurance policy when you realized that money could have gone somewhere that you get all the money back. You can use that money to buy low and sell high with real estate, cars, boats, and a million other opportunities.
Missed Opportunities
I have policies for children who use the money to cover their private education, their public or private college education, that eventually take care of there 1st car buying with cash, and also end up helping them buy their first home and maybe protecting them if they come down with cancer, a heart issue or some other illness.
The best is when a policy covers the estate because unlike a Home or a car that can be replaced you cannot. And your estate is usually taxable to your heirs if you are not careful, but life insurance has always been INCOME TAX-FREE!
THE TAX?
If you have a million in a Qualified or Tax-Deferred account and you and your spouse die, how much it taxable on that million dollars. The answer is all of it! In the same scenario but your money is in a life insurance policy worth a million when you die. How much tax do your heir pay?
A recent client of mine had $200,000 in retirement and what we were able to do is turn that into income for years to her and a tax-free death benefit to her two children of over $275,000. This over 70-year-old lady was able to give more to her kids than to the IRS. That I call a Win, Win scenario!
That is the power of going to me and to JeningsInsurance.com
Can you turn a Term Policy into a Permanent One?
The simple answer is MAYBE? Several of my clients have existing Term Insurance and don’t want to be re-examined if possible. In some situations you can have a conversion, in others, you would need to just re-apply.
Want more info. Email me at ac@jeningsinsurance.com