TYPES OF INSURANCE

TYPES OF INSURANCE 

1. TERM INSURANCE
2. PERMANENT INSURANCE

How long you need a question decide if you want?

TERM INSURANCE

Pros

• Good for temporary needs 
• Affordable

Cons

• Cost increases with age
• Must re-qualify when term expires

Term insurance lasts  for specified period of time 5 years 10 or even 20 years if your only need is for funds
to pay off 20 years more until your death a 20 years term policy would probably be the answer for you or if you are concern about providing funds to take care of your aging parents in there later years a 5 or 10 years term policy might do the job. the shorter the period of time the policy last the lower the premium but once the term period is over you will have to pay a  higher price to maintain it if you wanna do so or you may will have to take a insurance  the qualify all over again that means your health must be still good. sky diving or racing decline health or a dangerous job or hobbies can significantly increases the cost of insurance and some time make coverage and unaffordable or even unavailable that's leads me to the second kind of insurance.

PERMANENT INSURANCE

Pros

• Lifelong coverage
• Premium are often level for life
• Accumulates cash value

Cons

• More costly then term when initially purchased

Permanent insurance is what the name implies its with you for life no matter how old you are when you die. the premium are projected to remain level or for a life time and in some cases can be designed to stooped retirement while your coverage remains in-force for life. permanent policy's build the cash surrenders value there is available of needed in the opportunities or college for the kids . Of-course this benefit come with the price the initial  premium for life time insurance is 3 to 10 times higher then it is inequitable amount of term insurance.

So, if your home budget is limited be sure you buy as much as you need even its all term insurance but if you have higher budget it usually make sense to include some permanent insurance in your program and as time goes on it will probably make sense to convert some of your term insurance to permanent insurance
life insurance fills the Financial gapes it exist between your finance and Financial realities.by earning both types of life insurance term and permanent you batter prepared for unexpected things happens in life lets face it our Financial life never goes smoothly as the Financial people have believe so far we looked at the life insurance from the context of your personal needs or life insurance is the tool that is also utilize for every single business.

BUSINESS USES OF LIFE INSURANCE 

• Fund a buy-sell agreement
• Buy time to replace an owner or key employee
• Equalize an inheritance
• Pay estate taxes

This uses of life insurance keeps businesses in business ,families financially secure.
So, there you have it a properly designed life insurance program is instinctual to a sound financial plan as a strong foundation is to a home do it right and the future secure.