A handful of decisions have great significance over the course of a lifetime: your home, your family, and your community. Life insurance can provide cash & liquidity when it’s needed the most – for a spouse, children, business or anyone who is financially dependent you. Life insurance falls into that category because it protects against a devastating loss of income. Life insurance is like a parachute, you may only need it once, but when you need it, you really need it.
Life insurance tends to be a very confusing area with a lot of information out there most of which is either generic or biased. Of course, the only way to get specific information for your particular situation is to either come up with your own plan or to work with a qualified professional.
The concept for Questions and Answers on Life Insurance arose from this void. This is the only Life Insurance Reference Guide that I know of. As Bill Graham said about the Grateful Dead – “They’re not the best at what they do, they’re the only ones that do what they do.”
The book is intended to provide a comprehensive guide to life insurance that is informational and non-biased. There is also little out there for advisors so I saw a need to provide something and was inspired to write the book. The book was written in such a way that it is easy to understand and use, along with being able to find the necessary information easily.
Knowledge is key, if you don’t do it right, you can end up with coverage terminating before you do or not being what you expected – and the worst part is you won’t be around to fix it. This book provides you with the knowledge you need to avoid mistakes and save money.
But the right policy for you must be one that fits your circumstances. There are many issues to consider ranging from:
• Choosing an advisor
• Choosing a life insurance company
• Determining how much coverage
• Defining the type of coverage: term, whole life, universal life, etc.
Then after purchasing the policy, there’s always the issue of monitoring it to make sure that it performs as should.
It’s important to make sure that you get the most coverage for the least amount of premium, while at the same time making sure that you choose a company that will be around for the long term. Saving money on un-necessary expenses is a good way to get ahead financially.
Background: Tony Steuer, author of Questions and Answers on Life Insurance, has been in the life insurance business for 20+ years as a life insurance agent and consultant. He is one of 30 licensed Life & Disability Insurance Analysts in the State of California. Also, he currently serves on the California Department of Insurance Curriculum Board as appointed by the Insurance Commissioner.