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Save on Life Insurance Lincoln NE

What else can you do? You have many options. Here are 10 more ways you can save on life insurance. Read on and know more.

Michael Collins
6600 O Street
Lincoln, NE
Service
Wealth Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Disability Insurance,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,Portfolio Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Annuities,Alternative Asset Class Planning,Investme

Data Provided by:
Michael Cooper Insurance Agency
(402) 610-0274
1401 N 56th St Ste 112
Lincoln, NE
 
Forsyth Insurance Agency
(402) 483-7861
1265 S Cotner Blvd Ste 21
Lincoln, NE
 
Executive Insurance Associates
(402) 465-4554
7500 South St
Lincoln, NE
 
MHFS Agency
(402) 489-6110
2320 S 48th Ste 101A
Lincoln, NE
 
Christopher M. Collins (RFC®), CFP, CLU, MSFS
(402) 438-5500
2200 Fletcher Ave., Suite 100
Lincoln, NE
Company
Tomorrow's Money
Qualifications
Education: AA, BA, MS
Years of Experience: 37
Membership
IARFC, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Retirement Planning, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Compensation Plans

Data Provided by:
Assurity Life Insurance Company
(402) 476-6500
1526 K St
Lincoln, NE
 
Krikac, Vinnie - State Farm Insurance Agent
(402) 474-1173
935 Plum St
Lincoln, NE
 
R Hoy, Dean - State Farm Insurance Agent
(402) 489-7171
3883 Normal Blvd
Lincoln, NE
 
New York Life Insurance Company
(402) 483-5444
8700 Executive Woods Dr
Lincoln, NE
 
Data Provided by:

Top Ten Tips to Save on Life Insurance

Provided By: 

Top Ten Tips to Save on Life Insurance

Looking to save money on your life insurance? If you are willing to do a bit of work and consider alternatives in your search, you could save yourself a lot of money.

The most important thing, first and foremost, is to shop around. There are hundreds of insurance companies offering a wide variety of plans and prices. Different companies could have different claim experiences and therefore have very different rates. You could save big bucks, just by doing some comparison-shopping.

What else can you do? You have many options. Here are 10 more ways you can save on life insurance:

  1. Consider term insurance over whole or universal life .

    Term insurance is insurance and insurance only. Unlike whole life policies that have a savings component, you just get life insurance. As a result, you can actually save money on premiums with term insurance. In fact, according to one insurance association, the cost of a universal or whole life policy could be 8 or 9 times more than for term insurance with the same death benefit!

    Having said that, if whole life is your preferred policy, there are still ways to save some money and get the insurance that you want. A big part of the costs associated with whole life insurance are administration fees. If you are willing to check around, you may be able to find companies that sell “no load” or “low load” policies. As always, check any fine print when buying these kinds of products, to ensure there are no hidden charges and that you are getting exactly what you expect.

    Do keep in mind that if you choose whole life, it doesn't really give you the full benefit's of a savings vehicle. Any partial withdrawals or loans will reduce your death benefit. Also, if you partially withdraw or take out a loan against your cash value, and the cash value exceeds the premiums you have paid into the policy, you will be hit with a tax bill. Finally, every year you own the policy, more of your premium money goes to pay for the cost of insuring you and less of it goes toward the cash value. Why? Because your risk of death increases and the cost of your insurance component therefore increases.
  2. Look for no-commission policies if possible

    What is a “no-load” insurance policy? Well, first of all, it's really more accurately a “low-load” life insurance policy. Such policies have fewer expenses built into them, such as agent commissions and fees for marketing. This can mean lower premiums to you.

    How can you get a no-load policy? You need to buy from a financial advisor who will charge a “flat fee” rather than collect a commission. The flat fee will normally be lower than the built-in cost of commission.

    You can also buy no-load policies direct from an insurance company. If the company is selling without an agent, there is less cost to them and potential savings to you. More and more insurers are selling directly via the Internet. It's worth checking out.
  3. Avoid a gua...

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