Why don’t I just buy life insurance online?
Many online sites offer selected quotes from only limited carriers.
The rates quoted may not be what you end up qualifying for.
The lowest rates may not reflect the best products for your needs.
Some excellent insurance products may cost more, but have significant advantages such as higher cash values down the road.
A meaningful discussion is first needed to determine the right insurance strategy for both your short-term & long-term needs (insurance products, lengths of term, total insurance amount, etc.)
At BestPlan, we have the software to compare all the leading insurance carriers and the experience to best guide you through the application process to obtain the best rates possible.
If I become disabled or develop an illness that doesn’t allow me to work, can my business overhead expenses be covered?
Business overhead insurance is available for some professionals and business owners. This type of policy can reimburse eligible expenses to run your business for up to 2 years. This could be obtained as a separate long-term disability insurance coverage.
I have income property that my partner and children will inherit if I pass away. They can just sell it. Why would I want insurance?
Banks and other lenders may want you to have an insurance policy assigned to them, as a condition to obtain financing or best rates.
If you pass away, your assets may be frozen during the probate process. It may take 2 years or longer for your estate to be settled and the money released. Who will manage your properties in the interim, and how much will that cost? What about taxes and other expenses needed to keep operating?
Insurance proceeds (except in certain cases) escape probate, and are paid directly to eligible, named beneficiaries tax-free. Quickly creating needed cash-flow; providing funds to pay mortgages and expenses.
Should I wait until I'm older to purchase permanent life insurance?
Locking in premiums at a younger age could mean significantly lower life-time insurance cost. Good health later cannot be guaranteed. Some permanent policies offer much greater cash value possibilities, if starting at a younger age. Consider permanent life insurance for your children to get them started at a low cost.
I purchased Mortgage Insurance at the bank to cover my mortgage. Should I consider Personal Life Insurance instead?
Click here to see the comparison between Personal Life Insurance and Bank Mortgage Life Insurance. (Creditor-group insurance)
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BESTPLAN FINANCIAL STRATEGIES INC.
220 Viceroy Road Unit#16