What is best life insurance to buy
Don’t Buy a Life Insurance Policy Until You Watch This!
hi i'm byron adele founder and CEO of a
q quote since 1986 we've helped over a
million people save a fortune on their
life insurance I think you'll agree that
not having life insurance is one of the
dumbest things in the world you can do
if you don't have it you're leaving the
people you care about most open to a
world of hurt when you die and yes it
can happen to any of us I see it every
week how will your family get by how
will your spouse pay for the mortgage
food utilities health care your kids
college tuition etc everyone needs life
insurance it's what people do when they
care about their families thirty years
in this industry has taught me a lot
life insurance is the most amazing
product mankind ever invented it's the
only product that turns pennies into
dollars and it delivers those dollars
exactly when they're needed most and
it's dirt cheap but before you buy life
insurance the biggest most important
question you need to answer is how much
coverage do I want let's face it we only
die once and if we die with the wrong
amount of life insurance there's no
do-overs our families are screwed now
there are some rules of thumb
none of which work very well and there
are some pretty elaborate and
easy-to-use needs calculators online
including the one on our website but
even those sometimes miss the mark
everyone knows that nothing can replace
a father a mother a husband or a wife
what life insurance can do though is
replace the economic value of a human
life so what's your life worth
economically to your family not sure
answer this question if I were to write
you a check right now for the full death
benefit of all the life insurance you
own would you agree to work the rest of
your life for no pay
if your answer is no way then you
probably don't have enough coverage if
you're saying where do I pick up the
check
well then maybe you do have enough
either way getting the right face amount
is critical once you know how much you
need to figure out what kind of life
insurance you need so here's some
information that might help you with
that term life insurance is certainly
the most affordable a term life policy
now costs about a third of what it did
just 20 years ago a 35 year old health
email can get a half million dollars of
20-year level term for less than
seventy-five cents a day term life
insurance is typically sold in terms of
ten fifteen twenty twenty-five and
thirty years there's even a term life
policy that guarantees a hundred percent
of your money back even if you don't die
it's called ROP term the ROP stands for
return of premium if you live to the end
of the 30-year term you get a refund of
all the premiums you paid for example
say at age 35 you buy a $1,000,000
30-year ROP policy let's say your
premiums are a thousand dollars a year
of course that'll depend on your age
health and other factors but at the end
of the thirty year period in this
example if you're still here and haven't
died and the policy is still in force
the insurance company will pay you
$30,000 tax-free and if you happen to
die before the term is up then your
family will receive the full 1 million
dollar death benefit which is also
income tax free ROP policies do cost a
little more than regular term policies
so why are you wondering whether there's
a catch well there is if you don't keep
the policy for the full 30 years you
don't get all your money back so don't
buy one of these unless you think you're
going to hold on to it for the full 30
years now with all term insurance the
downside is that it covers you for a
temporary period of time and when the
term of the policy ends whether that's
10 years or 30 years the new premiums
jump dramatically which basically forces
you to drop the policy now this is good
for the insurance company because they
don't have to pay you anything but it's
bad for you and your family the only way
win the game of life insurance is to die
with your policy in force if you do that
you will have won the game the insurance
company will have lost money on your
policy you will have turned pennies into
dollars for your family and that money
will be delivered to them exactly when
it's needed most so how do you make sure
you win well if you buy a permanent life
insurance policy you won't have to worry
about your policy ending there's no
expiration data on this type of product
premiums remain level forever let's do
the math on that real quick
let's take a woman age 43 with a
$500,000 permanent life policy with a
guaranteed annual premium of $2,500 a
year at age 83 40 years later she would
have paid in a total of exactly $100,000
in premiums over the years now if she
dies in that same year at age 83 her
family receives $500,000 income tax free
that's a net gain of four hundred
thousand dollars a hundred thousand in
five hundred thousand out that's a
tax-free return of over seven percent
and depending on your tax bracket that's
like earning eleven or twelve percent
one hundred percent guaranteed in this
world today what other financial
instrument can even come close to this
and these returns are guaranteed by some
of the largest and highest rated
financial institutions on the planet
insurance companies now for some
shameless self-promotion
one of the best places to buy affordable
life insurance is a tack you quote over
the past thirty years we've helped our
clients secure over a hundred billion
dollars of life insurance coverage we
work with dozens of top-rated brand-name
life insurance companies you trust we
can help you figure out the how much
what kind and which company we can even
help you get coverage if you have
medical issues all at a price you can
afford and we do it right over the phone
no pressure and no three our kitchen
table face off just call us at the
number on your screen or go to a queue
quote calm we love to help people save
money I hope this information was
helpful
and thanks for listening
