Life Insurance for people over 40 years old

 

Although there are several types of life insurance policies, term life is the least expensive. It’s a temporary solution to lost income.

 

“It’s like renting an apartment. It covers your needs for a period of time, but when that term is over you walk away from it and it is done.”

 

Term life lasts only during the policy’s period of time, but permanent life insurance, which is more costly, provides coverage through the owner’s lifetime. It combines a term policy with an investment account, called cash value, which can be borrowed against and used for estate settlement and taxes.

 

Permanent policies include whole life policies, which provide a guaranteed death benefit and a guaranteed rate of return on the cash values. There are also variable life policies, in which the return varies according to the investment options, such as stocks and bonds. While whole and variable require fixed premiums, a universal life policy allows the premium to vary over time. 

For most young people who don’t have a lot of money, term insurance is the answer. 

But a permanent policy, which has more options, can make sense if they can afford it.

To consider your options, see an agent who deals with many life insurance carriers such as Mintco Financial (www.MintcoFinancial.com or call 813-964-7100)

 

Get a free quote now: 813-964-7100 or visit website www.MintcoFinancial.com

 

Life Insurance Review: It can save you money

When was the last time you reviewed your Life Insurance needs? It’s natural for people to buy Life Insurance and then promptly take that policy and stuff it into a drawer or a filing cabinet for who knows how long.

Regardless of why individuals purchase life insurance, it’s critical to review when they purchased the

insurance, why they purchased it and what may have changed since the time they purchased the

policy.

 

For example, one may have purchased life insurance 10 years ago for the purpose of leaving

a loved one a legacy, but due to the type of policy and how it performed, the death benefit may

now be worthless.

 

 It’s also not uncommon for people to accumulate and fund multiple policies over a lifetime but not update the ownership and beneficiary information and life evolves. This could result in the distribution of the life insurance proceeds to unintended recipients.

 

That is why it is critical to periodically conduct a life insurance review with your advisor. Unforeseen

events in our lives, ranging from divorce to bankruptcy, can have devastating effects on how our

beneficiaries are supported after our death. Tax and estate planning laws change frequently and

may have unforeseen impacts on older policies.

 

A simple review of your policies could  mean the difference between assets reaching your loved ones or being frozen in probate court.

 

Also the fact is, life insurance costs have come down in recent years – and innovative new products have hit the market. As a result:
 

• You may be able to lower your premium cost for the same amount of coverage.
• You may be able to increase coverage for the same premium amount.
• It may be possible to improve the death benefit guarantee (subject to premium payment requirements).
• There may be ways to improve policy performance and increase cash values.
• If you are over age 65, you may be able to get cash for your life insurance policy.

At the same time, if you have permanent life insurance, you need to know: Policy performance can change dramatically over time. Without regular review by an insurance expert, policies – especially older ones – can pose significant risk of not achieving their original intended goals.

That is why we recommend a yearly review of your life insurance coverage to make sure you’re still on track to meet your goals. Whether it is updating the beneficiary on your life insurance, or simply reviewing your current plan.

 

Mintco Financial Team of Independent Advisors can help you with your Life Insurance Review.

 

Mintco Financial is an independent company and only work for you, NOT BANKS. Advisors at Mintco Financial work in the best interest of their clients.

 

Call us today at 813-964-7100

 

Or visit www.MintcoFinancial.com

 

Life Insurance over 60

Are you at age 60? Are you thinking that you should have life insurance coverage to protect the financial future of your loved ones?

It is not too late.

There are many reasons to purchase life insurance when you are 60 years old. The death benefit may be used as burial insurance. Without covering your funeral costs with insurance, you will have to set aside some of your retirement savings, instead. With life insurance, a much smaller portion of your savings, if any at all, can be diverted to paying for your funeral.

Buying life insurance also may help offset any estate taxes due.

Making sure that you have enough life insurance to pay for funeral costs allows you to not burden your family after the time of your death, and that should give you peace of mind. Additionally, ensuring that your family has enough money to cover estate taxes will be the best way to take care of their financial future.

If you’re over 60 and looking to buy life insurance, you might be afraid that your age will make life insurance unaffordable. People over 60 typically have at least a few health issues, so you also might be worried that these problems will make your premiums astronomical.

It’s true that life insurance for seniors over 60 is a different ballgame than life insurance for younger people. But there is http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/, even for those with health problems.

Call Mintco Financial at 813-964-7100 and you will see how easy is the process. You do not need to be shopping for life insurance  from insurance company to company. WE are indpendent financial advisors and will shop the best rate for you among many carriers.

Your shop will stop HERE!

Call us at 813-964-7100 or get a quote online http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/

Oprah and the Super Bowl Commercial: What We should learn

Last night I was watching the Super Bowl and all the commercials.

To be very honest the only one that touched me was the Jeep Commercial. When I heard Oprah's voice  and the message about our troops, it was very emotional.

And I stopped to think that we, as a nation, do so much for other countries. Because we believe in freedom. We believe in democracy and freedom.

 Freedom.

But are we really free?

Still many Americans have to fight day by day, everyday, to...maybe...get a job? Pay their bills? Have a house? So it would not be lost in foreclosure? 

How can they sleep? They have families.

And they are not alone.

There are  many Americans fighting to survive in this financial war zone. Where the gas prices are going up. Food prices going up. And wages going down. And the worse...no jobs?

I was thinking....maybe they were not educated enough...maybe they did not have enough knowledge to make the right decisions?

Maybe it is time for us as Americans to go back to the basics.

To learn how to plan and to take control of our finances. To learn how to spend our money, how to savet it, how to invest it, how to prepare for the worse...

Knowledge is powerful.

Getting Americans educated about their finances is essential for a stronger country.

Freedom. There are many kinds of freedom. And Financial freedom is one of them.

Think about it, Oprah! And spread the knowledge to all Americans. 

God Bless America.

Here it is the Jeep Commercial Super Bowl 2013:

And here it is the first baby steps for your financial freedom:

Michael Minter is an independent financial advisor and has been serving the country with his expertise and simple way to talk to people about finances. The way you can understand!

The message is simple and you can do it! Start now in baby steps and you will get there: to your financial freedom!

Check the video:

http://www.youtube.com/watch?v=ndM3i2NCv2E&feature=youtu.be

Senior Life Insurance over 80

As you leave middle age behind, buying insurance to finance your funeral may seem like a no-brainer - death is inevitable, after all, and somebody will have to pay.

Today, the average funeral costs $6,590, according to the National Funeral Directors Association. That's just for basics and doesn't include costs for the cemetery, grave marker and flowers.

You can't buy an insurance policy that will cover every conceivable cost related to your death. The terms "funeral insurance" and "burial insurance" generally refer to small  life insurance  policies marketed to people who want to leave a little money behind for their families to cover final expenses.

These whole-life policies provide coverage for the rest of your life and have cash value. The cash account builds over time; you can withdraw or borrow against it, although the amount - plus interest - will be subtracted from the death benefit if you don't repay it. Because these policies are small, the cash value is minimal.

Getting life insurance for people over 80 is easier these days. Insurance companies have already accepted that the human life expectancy has increased, and have begun granting coverage for seniors over sixty years of age.

So if you are a senior with an insurance policy, but you think that the proceeds of this insurance will not be enough to cover the needs of your family, securing an additional policy might be helpful.

Or if you are just thinling to get a small policy to cover your final expenses, please contact us. Mintco Financial Team is a firm of independent financial advisors and will shop the best quote for you.

A good majority of seniors are in excellent physical condition, but it's expected that these individuals will have health problems. Insurance companies can offer affordable life plans for seniors over 80 who have medical issues. The rate of the premium would depend on their particular health condition: some providers might require you to undergo a medical evaluation to have a better understanding of your health.

Call us at 813-964-7100 and  we will discuss your health condition beforehand. You will then be able to decide on the coverage that is most suitable for your needs.

Need a quote? Call us at 813-964-7100 or fill the quote form: http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/

Group Life Insurance for Small Business

   

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A popular employee benefit for both employers and employees is life insurance. Offering it is completely optional but worth considering if you and your employees can benefit from the possible lower rates of insuring a group. If you're considering including life insurance in your employee benefit package you will have several coverage issues to consider, including whom to cover and the type and amount of coverage to offer.

Group life insurance covers the lives of multiple persons such as some or all employees of a business, members of a labor union, or members of an association. Depending on the group life insurance policy, the insured person may receive life insurance coverage as an employee benefit, make a contribution to pay part of the cost, or may pay for the group life insurance policy on their own.

Tax implications. Generally, group-term policies are nondiscriminatory because the amount of insurance is consistently based on some multiple of each employee's compensation. If all the requirements are met, the cost of the premiums for the first $50,000 of group-term life insurance isn't included in the employee's gross income (for tax purposes). If the requirements aren't met, you can still provide the insurance, but the value of the insurance will be taxable compensation to the employee.

How Much Life Insurance is the Right Amount?

Most group-term policies offer either a set amount of insurance (for example, a $10,000 policy for each employee) or are based on the employee's salary (for example, policy values of one, two, or three times the employee's yearly salary). In some cases, you can allow employees to purchase life insurance in increments, the cost of which is based on their age.

Group life insurance costs

Your company's group life policy will be priced based on your company size, the average age of your employees, males vs. female ratio and your industry.


Does your business need a quote?

Mintco Financial has been serving thousands of small business owners getting Group Life Insurance for their businesses.

Mintco Financial will help you to decide the best plan for your employees.

Get a free quote at http://www.mintcofinancial.com/quotes/group-life-insurance-quote/

Or call us direct at 813-964-7100

Senior Life Insurance and pre-paid funeral

The biggest advantage to buying life insurance is the extra money. Not only are you able to provide your family with the necessary funds to cover your funeral expenses, but you also are able to leave loved ones with extra money to live on. Secondly, a life insurance policy provides your family with one lump sum check of tax free money! Life insurance is usually more affordable than a prepaid plan, especially if you’re in good health. Finally, there are a variety of flexible payment options associated with life insurance compared to a pre-paid funeral plan. Each life insurance policy is tailored for the insured and therefore provides options like multiple beneficiaries and flexible amounts of coverage rather than only getting the same few choices as everyone else at a funeral home.

The most important disadvantage of buying a prepaid funeral plan is that you HAVE to use the money on the funeral because you are paying the funeral home. This goes hand in hand with another big concern, which is if you move out of state. Funeral homes often times will not refund you the money spent on a plan, so instead of buying an insurance solution to allow your family to pay for your funeral, you simply lose your money invested or force your family to pay even more burial costs for transportation. The final problem associated with a burial policy is as many people start to get older, they change their mind on being buried and often times want to be cremated out to sea. Just like you if want to switch funeral homes, you usually can’t get all of your money back. There are too many unexpected things that could happen in the future to rely solely on a prepaid funeral plan.

Call Mintco Financial Indpendent Advisors for a free quote. We are independent financial advisors.

Independent Advisors has the ability to compare price, product, and service to insure the best life insurance quotes.

The final benefit is that an independent agent has the ability to apply to multiple companies in case one insurer won’t write the policy. There are times when a client applies to multiple carriers and receives multiple rates that are not similar.

Call us now at 813-964-7100 or fill the quote:

http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/

Life Insurance for Seniors over 70 years old

Life insurance for seniors over 70 is now a possibility for many elderly individuals living in the United States. If you’re old and gray and have not saved much during your younger years, this type of senior insurance coverage is very useful.

Don’t think that this is impossible? It’s very possible and if truth be told, many companies are specializing in the senior life insurance niche nowadays, unlike before when it was next to impossible to find an insurance carrier who would sell you a policy once you’re over the age of 70.

Buying life insurance for seniors over 70 becomes important as your age and health deteriorates and the inevitability of death becomes a grim reality. Most people buy senior life insurance to ensure that their loved ones don’t have to pay money out of their own pockets for your funeral expenses.

Many baby boomers and seniors who are 70 and older can get affordable life insurance coverage. Of course, your health history impacts the bottom line.

If you are in good health, lead an active lifestyle and don’t smoke, you have a better chance of getting affordable life insurance than if not.

What makes the most difference in getting affordable insurance is using an independent agent, who can help you find the right company to get the most best pricing possible.  The independent agent will know which company(s) will underwrite your application most favorably and therefore give you the best rating/pricing.  They should have an in house underwriter to be of assistance in getting you the best rating as well.


Just because you are 70 or older doesn’t mean you can’t get affordable life insurance.  It is especially important to go to the right carrier when you are applying for life insurance and you are 70 or older.

We recommend you to give us a call at 813-964-7100 or visit our website at http://www.mintcofinancial.com/quotes/final-expense-life-insurance-quote/, we are an independent agents who have experience with Baby Boomers and seniors.  We can help you decide what type(s) of life insurance you need as well as help you get the best value for your money.

Mintco Financial Team is an independent financial advisory company. We work for you!

Call us today for a free quote 813-964-7100

We do insure seniors up to 89 years old.

I-Plan by Michael Minter: Get yours Today!

www.MintcoFinancial.com

Jessica Simpson Father Buys Life Insurance on her

Joe Simpson secretly took out a $4.5 million life insurance policy in daughter Jessica’s name with himself listed as the sole beneficiary, a source tells RadarOnline.com exclusively.

The policy was drafted around 8 years ago, the source says, and The Dukes Of Hazzard star and her mom Tina only found out about its existence last week.

Tina’s attorneys at Dunnam & Dunnam were made aware of the policy’s existence in a meeting with the Simpsons’ business manager, David Levin, and the source says that both Jessica and Tina are “furious” that Joe had done such a thing without the knowledge of either of them.

“Tina found out about yet another one of Joe’s secrets and couldn’t believe what she was hearing,” the source, who is close to the Simpson family, tells RadarOnline.com.

“It came out in a meeting with David and her attorneys last week that Joe set up a life insurance policy for Jessica 8 years ago that made him the sole beneficiary.

“It was pointed out to Tina that as Jessica’s manager Joe wasn’t doing anything underhanded by taking out a policy to protect his biggest income source, but she was absolutely furious that Joe did it without consulting her or Jessica.

So here it is the question:

Can I buy life insurance for someone else?

The simple answer is, “yes”. You are allowed to pay the premiums and collect the benefits on a life insurance policy that insures a life that is not your own. For example, many people have life insurance on their children. Another example is that companies sometimes buy life insurance on their key employees so that they can recover from the negative financial effect that losing that employee might cause.

There are two things that you need to consider. One, you are going to need to have the consent and participation of the person whose life is being insured. Two, you are going to need to provide a reason to the insurance company that you will be affected financially if the insured dies. The only exception to this is life insurance on children. Usually the parent of a minor can purchase life insurance on the child without any additional reasons. If you have nothing to lose from the death of the person, then you don’t really have an “insurable interest” and in such cases would only gain financially from the death of the insured. Just being a relative does not necessarily create an insurable interest. You will have to prove that you are somehow financially affected by the death of that particular relative.

Speak to a life insurance specialist at Mintco Financial to find out more on buying life insurance on someone else.


Need a Life Insurance Quote?

Call us at 813-964-7100 or get a quote:

http://www.mintcofinancial.com/quotes/whole-life-insurance-quote/

Mintco Financial: Who We Are

http://www.youtube.com/watch?v=-hP2TObDRfg

Michael Minter is on NBC Daytime Show: Tips for parents and kids about money

Michael Minter is on NBC Daytime  show: Tips for parents and kids about money

 
Instilling  good money habits in your children is arguably one of life's most important lessons.

Fortunately, with today's technology, there are many ways to make learning about money fun for kids of all ages.

Teaching your kids about money should start as early as possible.

Money must be earned.

There's no entitlement program in life. Kids need to know that they can't just whine for a toy in a store and automatically get it.

Check the video with Michael Minter for more tips.

Kris Jenner Demanding Kanye West Take out A $10 Million Dollar Life Insurance Policy

Kris Jenner is demanding that Kim Kardashian‘s boyfriend and baby daddy, Kanye West, take out a $10 million dollar life insurance policy, RadarOnline.com is exclusively reporting.

“Kris has made it known to Kim and Kanye that she expects the singer to take out a hefty life insurance policy, naming their baby as the primary beneficiary and Kim as second,” a source close to the situation tells Radar. “Kanye is absolutely on board with getting the policy and had actually already looked into it before Kris brought it up. Kanye is in perfect health but he travels a lot and performs all over the world, sometimes in not so safe locales, and that concerns Kris. It’s basically just good sense, and pretty common procedure for new parents, though not usually for such a high amount! Kim will also be taking out her own life insurance policy naming the baby as the beneficiary.”


Kris Jenner is right about Kim kardashian and Kanye West get a life insurance policy, as they will become new parents.

Thinking about life insurance isn't easy: It forces you to face your own mortality and the thought of leaving loved ones behind. But difficult as it is, it's crucial to make time for a heart-to-heart with your spouse, especially once you become a parent.

By planning for the unthinkable, you can ensure that if you die or become disabled, your family will be able to pay for food, shelter, and healthcare; handle debts and major expenses (including college tuition); and generally maintain the lifestyle they're accustomed to.

How much do I need?

One rule of thumb is five to ten times your annual income. Everyone's situation is different, though, so how much insurance you need depends on various factors:

• How much your family spends annually on items like housing, food, and clothing
• How much your family would need to cover large one-time expenses, such as your children's college education
• How much your spouse earns (in other words, how much of the family expenses your spouse's earnings would cover)
• How much your investments and other assets are worth (how much of your family's expenses they'd cover)

Need a quote? Mintco Financial Team can give you the best quote and service for your family needs.


Call us at 813-964-7100 or visit our website at http://www.mintcofinancial.com/products/life-insurance-quote/

Bethenny Frankel Divorce: she wants a Life Insurance Policy

According to TMZ, Bethenny Frankel means business, even in divorce. She wants Jason to pay child support and a lot more.

Bethenny filed for divorce last week against Jason Hoppy. Now we've learned ... Bethenny -- who is reportedly worth between $25 million and $55 million -- has filed legal docs asking for the following from Jason:

--- Child support ... retroactive from the date she filed for divorce
-- Medical, dental, optical, therapeutic, and orthodontic expenses for HER and her child
-- Life insurance that makes both her and the kid beneficiaries

Read more: http://www.tmz.com/2013/01/07/bethenny-frankel-ex-jason-hoppy-divorce-child-support-prenup/#ixzz2HOoXRrAS

What Bethenny Frankel should know when asking for a Life Insurance Policy to give to her child?

Life insurance proceeds are usually subject to death taxes, depending on the form of ownership. Therefore, proper ownership of a life insurance policy is very important.

If you own insurance (or even retain the right to change the beneficiary of the policy) on your own life, the death proceeds are part of your taxable estate. To put it simply, if you are single, and have a $600,000 policy, and $100,000 of other assets, at your death, your estate will owe $37,000 in taxes.

If the beneficiary owns the policy, there are no taxes at your death; the policy is not taxable in your estate because you didn't own it.

Young beneficiaries pose a problem. A young child cannot (or should not) be outright beneficiary of a life insurance policy.

The best method of owning insurance is in a Life Insurance Trust.
[A Life Insurance Trust different from a Living Trust. It has different rules and purposes.]

A life insurance trust is a trust that is set up for the purpose of owning a life insurance policy. If the insured is the owner of the policy, the proceeds of the policy will be subject to estate tax when he dies. But if he transfers ownership to a life insurance trust, the proceeds will be completely free of estate tax. (The proceeds will be exempt from income tax either way.)

Given the current estate tax rate of 35%, a life insurance trust can save hundreds of thousands of dollars in estate taxes.

When a Life Insurance Trust is formed, you name a person to manage it. Normally, that will not be you or your spouse.

If you have an existing life insurance policy, you can put that into the Trust, or you can have the Trust buy a new policy. The annual premiums are paid from funds which you contribute.

A Life Insurance Trust is irrevocable. If you form a Trust for the benefit of all of your children equally, and later would like to `disinherit' one child, you cannot change the Trust. All you can do is to stop making gifts to the Trust, leaving it with an insurance policy which lapses due to nonpayment of premiums.

Of course, the major reason to have a Life Insurance Trust is to avoid the risk of ownership by another person, and to ensure that the beneficiaries do not receive substantial assets until they are mature enough to handle them.

Adult Children as Owners: Of course, if your children are mature and stable, they may be the owners personally, paying premiums with money you give them. However, a Trust could provide them with the asset protection they need.

Conclusion: Bethenny Frankel should know (or her lawyers) that the best method of owning insurance is in a Life Insurance Trust.

Questions? Call Mintco Financial Team. We are specialists in Estate Planning and our Team has been saved millions of Dollars in Taxes to our clients.

www.MintcoFinancial.com

Phone: 813-964-7100 

Life Insurance for Seniors with pre-existing health conditions

 


If you have some pre-existing health conditions, and most seniors  do, then you can still get affordable rates for elderly life insurance at this age. Minor health concerns like high blood pressure, high cholesterol, and even type 2 diabetes that is controlled with medication, can usually qualify for standard rates. If you have some more serious health problems such as heart disease, cancer, or a history of stroke, then you could still qualify for a guaranteed issue life insurance policy. This type of policy has graded benefits, which means that the death benefit is not fully payable until after year 2, but it can still provide peace of mind if you've been turned down before.

If you have questions please call us at 813-964-7100 or visit our website atwww.MintcoFinancial.com 

 

Gene Simmons and Life Insurance

What does former rock star Gene Simmons (of the band better known as KISS), have to do with life insurance? Here’s a clue: rock stars, like professional athletes, entertainers and other celebrities, occupy the elevated station of “high net worth individuals.”

“All of those who have worked hard to become high worth individuals want to  maximize our estates for our loved ones. It’s your responsibility to find out everything you can about your life insurance strategy,” said the lead singer.

“Life insurance is a must,” he says. “It’s the one thing in your life you are doing for everybody else. Once you are dead, you really don’t care, but while you are alive it is the one big, selfless thing you should be doing. And you should try to maximize the amount of money that you leave behind to your family, your loved ones and whoever else you deem.”

Free Life Insurance Quote:http://www.mintcofinancial.com/products/life-insurance-2/

Understanding Survivorship Life Insurance

Survivorship life insurance ("second-to-die" or survivor insurance) provides one policy that insures the lives of two people, usually spouses. No proceeds are paid when the first spouse dies. The policy remains in effect and premiums may need to be paid. The death benefit is not paid to the beneficiary until the death of the second insured.

An Estate-Planning Tool

For couples who expect that substantial estate taxes will be assessed on the death of the second spouse, survivorship life insurance is an attractive estate planning vehicle. By providing a death benefit upon the death of the surviving insured, survivorship policies can be used to pay sizeable estate taxes and other expenses at the death of the second spouse.

Mintco Financial Advisors can assist you and help you decide if survivorship insurance is right for your estate planning needs. Contact us at mminter@mintcofinancial.com or call us at 813-964-7100

Health Considerations

Survivorship insurance may be a good strategy in cases where one member of a couple is in less than good health, making other types of insurance extremely expensive. Since two lives are insured, premiums for survivorship life policies are relatively low compared to individual policies on each spouse’s life. Therefore, if the other spouse is in reasonably good health, the couple can usually obtain survivorship life insurance.

 

Free Life Insurance quote:http://www.mintcofinancial.com/products/life-insurance-2/

Term Life Insurance Quote:http://www.mintcofinancial.com/products/life-insurance-2/

Life Insurance for Seniors Quote:http://www.mintcofinancial.com/products/life-insurance-2/

Contact www.MintcoFinancial.com

Call 813-964-7100 to get the most affordable Life Insurance for you to protect your family and assets.

 

 

 

Neil Armstrong’s Life Insurance Came In The Form Of Autographs

Before Neil Armstrong went to the moon in 1969, he thought about life insurance and like all caring fathers, took some precautionary measures to protect his family.

Since life insurance was extremely cost prohibitive for an astronaut that might not return from his moon mission, Armstrong thought of another solution. Instead of taking out a life insurance policy, Armstrong and his fellow Apollo 11 astronauts signed a stack of “covers,” or envelopes marked with important dates. These envelopes were given to their respective families, and could be sold should they not return from their moon mission.

In 1969, when Armstrong was preparing for his moon voyage, a life insurance policy could have cost well into the thousands of dollars, according to Business Insider. At that time, astronauts were only taking home about $17,000 per year.

With all the media attention focused on the astronauts’ moon mission, there was a skyrocketing demand for signed photographs containing their autographs, according to space historian Robert Pearlman as told to NPR, making the memorabilia potentially profitable.

An autographed photo today of Armstrong in his white spacesuit typically can sell for about $5,000 at auction, according to the Houston Chronicle. With Armstrong’s death, it can be expected that signed Armstrong photos would fetch at least 30 percent more.

Unfortunately, Armstrong having difficulty affording life insurance is not unique to moon travelers. Many Americans too have difficulty affording life insurance.

Need a quote? http://www.mintcofinancial.com/quotes/whole-life-insurance-quote/

Call us at 813-964-7100

www.MintcoFinancial.com

Term Life Insurance Quote as seen on NBC TV

We understand the importance that term life insurance provides to a family's financial future. We also recognize that it is just one piece in your financial plan and needs to be the most cost effective option.

You may be used to insuring key assets – such as a car or home – against loss or damage. But it’s important not to overlook insurance protection for your most important asset which is you.

While the chance of your premature death is remote, there are significant financial risks to those you leave behind if you don’t have life insurance protection.

Get a free Term Life Insurance quote: FREE QUOTE! 

Call us at 813-964-7100

Life Insurance: Understand it and get a quote from Mintco Financial

Life insurance is usually not a particularly popular subject to discuss. Images of pushy salesmen waving the policy that "you absolutely must have" instantly come into your mind. However, if purchased wisely, life insurance can be used to meet many different needs of the policy holders.

Life insurance is unique. No investment or asset can provide the purchaser with such extraordinary leverage and the ability to create liquidity when, in many cases, it is most needed. A young professional looking to create an estate in order to replace future income lost to the family in the event of a premature death cannot make a better purchase. But not everyone falls into this category.

Obviously, most people purchase life insurance solely for the ultimate payout upon the death of the insured in order to provide for their dependents. However, life insurance can also be used to pay death taxes and estate settlement costs, to shift wealth from one generation to another or to benefit selected charities. Certain types of life insurance also have an investment feature in which funds accumulate while the policy is in place and may be used to pay future premiums. In a business context, life insurance can be used to fund all or a portion of a buy-sell agreement between partners or co-shareholders.

Life insurance policies are typically divided into two major types: term insurance and permanent insurance.

Need a quote? Call us at 813-964-7100 or visit our site: www.MintcoFinancial.com

Life Insurance: Strategies to keep the Money in your family

One of the many financial challenges people face is how to leave a financial legacy. One tool offers advantages others cannot match - life insurance. Here are some of the ways wealthy people use it. Their methods can work for you as well.

Get the IRS off your back

Many people incur taxes when they die. You might have money in an IRA or 401(k) plan that has never been taxed, for example. The IRS has not forgotten that money. Taxes must still be paid on it. The question to ask is: Do you want your family to keep the full value of the inheritance you leave?
You can use life insurance to address this problem. The first step is to consult a qualified tax professional like a CPA. An accountant can help you estimate your taxes due upon death. Once the amount is determined you can take out a life insurance policy of sufficient size to pay off the tax burden. When you pass away the IRS will take its share of your money. The life insurance proceeds paid to your beneficiaries will replenish the size of the inheritance. Policy costs are typically a tiny fraction of the face value, making them very cost efficient.

Let the insurance company fund the inheritance

Assume you are careful to save for your retirement and have a $1,000,000 nest egg. Congratulations! You did very well. If you want to leave money to family you have a new challenge. If you want to give them $500,000 in total you'll need to set that money aside, leaving just half of your nest egg for your own retirement needs. That's sure to put a new spin on how you plan your retirement life.
Consider using life insurance to give your family the $500,000. If you are reasonably healthy for your age it will cost much less than putting that cash aside in a savings account. If the cost is $100,000 for it you get to live on the remaining $900,000. Your retirement lifestyle will be much better and your family still inherits the same amount of money.

Leave a bigger inheritance with no extra cost

If you've already set aside money to leave to your family, why not increase it without additional cost? Get estimates on a ten-pay policy. That's a form of life insurance where you pay once a year for ten years and then own the policy outright. Ask for estimates for a policy where the annual premium would be one tenth of the amount you already set aside. If you set aside $10,000 for your family, ask about a $1,000-per-year policy. You'll multiply the size of your family's inheritance without spending an extra cent.

Any of these three ideas can be used with modest amounts of money. Consult your financial advisor before buying any financial instrument. Choose a local independent life insurance agent  to learn which of these ideas can help you build your financial legacy.

Consult Mintco Financial  Independent Advisors :
 813-964-7100
716-565-1300
Email:anecamara@mintcofinancial.com
www.MintcoFinancial.com

Get a free quote of Life Insurance:

http://www.mintcofinancial.com/life-insurance-quote.asp