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What are the advantages of having Life insurance

Brad Cunard learnt the value of life insurance the difficult way. While stuck in traffic with his wife Lisa and two boys, Max and Owen, they hit a violent thunderstorm. Nothing could have prepared Brad for what happened next.

A tree fell on their car with horrible precision, instantly killing Lisa, 38, and their boys, who were three years and five months old. Brad had always believed he and Lisa would live to enjoy Little League games, proms and grandchildren. Now he found himself alone, not sure how he’d pick up the pieces.

Luckily, Brad and his wife had purchased life insurance with free gifts, which gave him the financial security to grieve. “The money won’t bring Lisa, Max or Owen back, but it makes the existence I find myself in easier. I don’t have to work while I’m not ready, or sell my house because I can’t afford the mortgage. I’ve been able to think slowly about my future,” Brad says.

free gifts with your life coverThe insurance money also helped keep Brad’s business running while he was home. Brad says because of financial planning, “I know I’ll do better than survive. I’ll live and succeed in the second chapter of my life and make my family proud.”

Insurance firms offer various insurance policies depending on the individual. For example, Term insurance is inexpensive, but is for a limited time and does not build cash values. Permanent life insurance, like a whole life policy, has a fixed premium at date of issue that never increases. If it’s a mutual company, they pay dividends that can be applied to reduce the premium. A valuable part of a whole life policy is the build up of guaranteed cash values that can serve as a reserve that can be used for educational, retirement or other needs.

Term, which is sometimes referred to as temporary insurance, an individual buys a policy for a specific time (1yr, 10 years or even a 30 year span) where a death benefit is paid to the beneficiary if the insured dies during that period. For a healthy almost 40-year old man, this could amount to £15 a month for this policy that would provide a £100,000 payment if the insured dies during the time period he selected.

Whole life insurance can cover an insured for his or her lifetime. The payout is assured at the end of the policy (assuming the policy is kept current) and the policy accrues cash value.” Upon death, the proceeds from the policy are paid tax-free to the beneficiary. This offers consumers guaranteed cash value accumulation. This whole life policy is considerably more expensive than term insurance, but offers a premium that never increases and the policy holder can build guaranteed cash values.

The whole life plan offers the insured £100,306 in death benefits. The permanent plan also costs more because it gives the same insurer £192,785 at age 65 in retirement benefits. You can also have a combination of term and whole life insurance to make a policy that covers the specific needs of a family. Whole life insurance builds guaranteed cash value and although dividends are not guaranteed, diviidends can provide additional benefits.

There are plenty of free gifts with life insurance policies, you may want to ask your broker or insurer you go to what types of free welcome gifts they have to offer.

Everyone has different circumstances; however both plans offer some financial security for individuals and their families. Many people think they can’t afford insurance so they never consider the option. But £15.49 is an amount most can pay. The cost of not having insurance can be a big toll for a family.

Kent Schiner, a financial adviser (CLU, ChFC), says “Life insurance is a character purchase because it is for the benefit of another even though the insured has use of the cash values during his lifetime; a win-win situation”

Classic Car insurance Important Information

To buy a good classic car is a very grateful thing as it shows your class and glamour. However, to buy that car you have to spend huge amount of your saving because the classic car is very costly. As the cost of classic car is too much that, you cannot afford to loose, so you must insure your classic car from various damages. It is always better to contain information regarding the insurance of classic car before going to buy insurance policy for your classic car. The information or queries you collect may relate to different issues and classic car insurance FAQ will help you a great deal in this aspect.

antique-cars-classic-car-modelsThe first thing you need to know the definition of your car according to that car insurance company from whom you want to buy car insurance policy. Generally, the insurance companies will have three categories in which they put your car. The car insurance companies name those cars as veteran cars that are manufacture before 1903, while the cars made between 1903 and 1933 are known as vintage cars and the cars, which come into existence after 1973 are, refer to as classic cars. Most of the car insurance companies will not offer you classic car insurance policy at the lower premium rate. That is why, people eager to know various classic car insurance FAQ, so that they will be able to buy classic car insurance policy at the lowest possible price.

Car insurance companies provide protection to the classic cars against damage related to fire or thief. It is wise to ask from your car insurance company that whether there is any fee for assessing the value of your car. Also, ask about the maximum number of miles that you can drive your car per year according to your own car insurance policy as your insurance provider may have a limit on the maximum number of miles you are free to drive.

The most interesting question, which disturbs the persons who buy classic car, is where to get classic car insurance at the best possible price. They also want to know what type of coverage they need in order to save their classic car from thieves as well as from damage due to fire. The various facts regarding classic car insurance able to answer questions like where to garage the car and what are the different driving restrictions. As classic car is a unique and extraordinary thing, so you have to buy some special car insurance policy.

You may want a classic car insurance for a younger age, which can be hard to find at a cheap price so be vigilant on where you look!

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