Protect Your Big ASS-ets

Do you own a mortgage or have children that own a mortgage, that requires two incomes to pay each month, babies you want to see go to college, and different debt payments you pay every month that requires two incomes?

Most younger couples do not have enough money saved to cover their payments for 3 months if one thing unforeseen was to happen. Much less repay their bills, keep their home, and remain able to afford to send their kids to college if something unfortunate occurred.

Most couples have protected one of their primary assets, their house, but have left their bills and their kids education uncovered. It's not their fault; many have been misinformed or bought the wrong asset insurance.

Cash value asset insurance is without doubt one of the worst financial products available. Sadly, over 70% of the asset insurance policies bought today are cash value life insurance policies. A cash value policy is an insurance coverage product that packages insurance and savings together. It's the costliest type of insurance coverage per 1000 dollars of coverage.

However the worst thing about it isn't the insurance it's self, it is not even the price, what is the worst factor is the agent that sells a cash value policy to a young healthy couple that can't afford to buy sufficient protection to protect all their assets with that kind of policy.

Why, you may ask, would an agent do something like this, knowing they're leaving a families greatest assets unprotected?

Good question!

I will answer it like this... from the agent's point of view. "I know that cash value asset insurance coverage is a coverage that protects an individual for their complete life (age 100 in most cases). They will never need to purchase a policy ever again, the premium payment by no means goes up, and the coverage cannot be cancel in the event that they become sick, and they get the added bonus of a savings program together with their policy that they can borrow cash from (with a little interest)."

"I know it's the most costly coverage and most young folks cannot afford to cover all their assets with this type of assets protection... and I also know I'm out here to make a living for me and my family and I get paid the biggest commission after I sell one of these policies."

It's sad however true; many agents are putting their needs before yours.

Most younger couples need more asset insurance coverage, due to the mortgages, young children, and bills... however primarily because they do not have a lot of money saved.

As a couple grows older, the kids grow up, the mortgage is paid off, and the bills are paid, a couple needs less insurance coverage and has more cash (if they've planned properly.)
A beautiful alternative to cash value asset insurance coverage is a term asset protection insurance coverage plan.

How can this help?

Another good question...

Term life:

* Less expensive... making it easier to protect your entire assets... while having more money to save in a program with a higher interest rate... plus the added bonus of by no means having to borrow from yourself with interest...

* Covers 5, 10, 15, and 20 year periods... you only take the protection for the time you need to build up your savings... see your kids grow up... and pay off your bills...

* No low interest rate savings program attached to your policy... you select the savings program you want with full management of how to best invest your money... when to invest... and how much you wish to invest.

You will still must keep your eyes wide open and look out for agent's tricks even when you're buying term asset insurance.

One of the things you'll need to look for is; what is the term period an agent is promoting you. This is very important if you're comparison shopping. Make sure you're taking a look at an apples-to-apples comparison. A 10 year term price compared to a 10 year term price and not the price of a 10 year term compared to a 5 year term. Agents will do that to show you a lower price policy when they know they can't beat the price of their competitors for a policy covering the same term period.

Many agents will disguise the fact they're not evaluating the same term periods by telling you how much more coverage they will get you for a similar price. Realizing full well their promoting you a shorter period of coverage that may make it necessary for you to buy another policy sooner, at a higher cost, and pay another fee to the agent.

Term assets insurance coverage is not perfect:

* If you become ill... it's possible you'll not have the ability to get a new coverage at the end of your term... so make sure you do one of two things... renew you coverage before the end of your term if you assume you may want it for an extended period the you initially planned for... or buy a longer term when making you initial purchase.

* No savings plan... even thou the financial savings program of the cash value asset protection plan is usually not an excellent program it has one factor that for some people is beneficial... you do not have to set it up, because it's arrange for you... so if you don't set up your personal savings program you'll be better off with the cash value program in the case of saving money only.

Term asset protection insurance is perhaps the simplest type of asset insurance. It was developed to provide short-term asset insurance protection on a restricted budget. Since term asset insurance can be bought in large amounts for a comparatively small initial premium, it is properly suited to short-range objectives such as asset insurance coverage to repay a mortgage, or providing additional asset insurance protection throughout the child-raising years.

Article Source: http://www.newsarticlessite.com

Tax Saving Experts www.taxsavingexperts.com

Our agents our knowledgeable, friendly, and ready to answer all your questions... but they go much further - to provide you with the kind asset insurance program that will protect your assets from anything unforeseen that could devastate your family... giving you the peace of mind you can depend on.

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