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Life insurance is often used as an investment for retirement planning. Basic life insurance can be divided into two general categories, term insurance and whole life insurance. When you buy term insurance, you pay premiums in exchange for a death benefit over a specified period of time. This is the least expensive type of life insurance. Because the death benefit is all that you get with term insurance, it's never sold as an investment.

In making that decision, there are several issues that you should consider:

  1. Your ability to pay the premiums. First, you should determine how much insurance you need. Next, you'll need to check the premium costs for both term and whole life policies. If you can afford only the term policy, buy it. You should never skimp on the amount of your death benefit.
  2. Your tax brackets. The benefit of a tax deferral is only as valuable as the amount of taxes that would be deferring. The higher your tax bracket the more valuable the benefit is.
  3. The possibility that you might not be able to get affordable insurance later in life. As potential health issues increase with age, this could be of major concern. If it is, compare guaranteed renewable term policies with the price of whole life.
  4. Your willingness to shop for no-load (or, no commission) insurance policies. Unless you buy no- or low-load insurance policies, the costs of whole life erode returns so much that it almost always makes more sense to buy term insurance and invest the difference.

Unfortunately, there isn't a cookie-cutter answer when it comes to using life insurance as part of your investment portfolio. A clear benefit of investing in insurance products is the tax-deferred treatment of the cash accumulation part of the policy. Of course, the higher your tax bracket and the longer you have until retirement, the more valuable this benefit can be. However, a very important disadvantage of using life insurance as an investment is the high fees and expenses that make it difficult to compete with the returns of even ordinary security instruments, such as mutual funds.

Insurance Plans as Investment

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The importance of the philosophy to sell

A professional agent is not born, but formed. The higher of flight hours, should have better performance. Insurance agents should also be sure that the products sold. before speaking with prospects, the agent must know the outside-in products they offer, any type of insurance. That mean, they must know the main benefits, weakness and strengths of the product. Note the price and costs must be paid prospects. Learn ethical insurance agents, because there corps values and taboos that must be shunned. Survey shows, the prospect that agent prefer to speak frankly, honestly and based on reality. If there is a risk cost to the customer, discuss the possibility that since the beginning.

Next, do the hunting prospects. The names of prospective customers could potentially come from existing customers, friends, relations, club, newspapers and magazine articles, mailing list, and other various directories. Try making a list. If prospects have a family, try to do a presentation in front of husband and wife. Survey proves, the decision to buy a much higher persistence if it involves a husband and wife, rather than unilateral decision, either from the wife or husband.

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