Final Expense Life Insurance
Final Expenses can be considered burial expenses or the more realistic definition of assets minus liabilities. Final expenses are the debt you would leave to your surviving family members. If you have assets you likely have the debt that is commonly passed. With needs and wants, you can come to have borrowed or contracted to pay at some rate. This is a bigger reason for obtaining Final Expense Insurance as for a monthly premium you can be sure to cover those expenses and as you get out of debt you have the option of leaving money to your survivors as legacy money.
As responsible adults, we get through life hopefully doing the things that need to be done. We don’t come to them all the same way but at some point we do and we capitalize on the moment. This is your moment to seal the deal and finish strong. Like it has been said for centuries you can sit on a gold mind. We want this for you, so remember to contact a professional who has your best interest in mind by becoming a part of your family. Silver Age Professionals look to be that Professional for you.
Check out the scenarios below to help in seeing how you could benefit.
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Scenarios
Scenario 1
Karey and Tyler have a farm in Williamsburg, VA. At this farm, they have a lot of assets. Karey runs a business there and Tyler works the farm for dairy and a plant pot business he created making pots out of the manure. Together Karey and Tyler have 3.4 million dollars in assets and manage to have around $700,000 in expenses and liabilities. Karey and Tyler both have burial expenses covered but they have not yet taken care of their liabilities.
Karey has a Son who is graduating from VMI and he would be the child to inherit the assets and so he will be the child that is on the hook for the liabilities of his Mother and Step-Father. Karey and Tyler are very proud of Kyle who plans to marry his high school sweetheart Karen.
Karey and Tyler don’t want to pass on any debt to Kyle and Karen so they contacted a Silver Age Professional of America by completing a form on the Silver Age Professionals Website. Terrance a Financial Professional and Estate Planning Professional contacted Karey and Tyler and completed a Needs Assessment. They found that they have $700,000 in liabilities Terrance found that the couple both have a 401k for retirement funds. Terrance explained that the two could get coverage using the money they already have. He explained how funds transferred into Annuity accounts can also provide a death benefit. This way their money can grow while they secure coverage all in one policy. They also opted to get Long Term Care, Critical Illness coverage, and an Income Protection rider that guarantees interest for 10 years.
Outcome
Karey and Tyler both keep their money and they will leave their money to one another if they were to pass. Thus, a win, win for Karey and Tyler as they just put money in the left pocket that they previously had in their right essentially. By doing so they gained 2 million dollars in Death Benefit coverage and because riders are included both now have Long Term Care, Disability Income, Income Protection, and Critical Illness coverage. This all came from choosing to place funds that were in one Financial Institution, into the next Financial Institution that provides more.
Scenario 2
Alison has very little debt and has money saved. She fears she won’t be able to get an Insurance policy that will cover her burial expenses. Alison gives it a try anyway by calling a Silver Age Professional. She was connected with Amanda who connected with Alison after they talked about how the two of them had traveling issues and they frequent the same Airports. Amanda let Alison know that she can help her cover those costs but it is best to be sure what there may be to cover otherwise.
After a needs assessment, Amanda found Alison was in need of more than she thought as she wasn’t thinking about a few things. Amanda found three choices of Whole Life Insurance products that Alison can be paid in a lump sum premium. This choice will allow Alison more access to Death Benefits. Now Alison sees the benefit of having a Silver Age Professional that is looking for solutions for many others. This allows her to take on her issues and be provided with solutions immediately. That’s another great relationship and another client well served. Contact a Silver Age Professional that can find an option for you with many ideas on methods to get it all accomplished.
