Voluntary Benefits' June Newsletter9 Key Attributes of a Solid Financial Plan In my last newsletter I asked the question is Term Life truly "cheaper

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Voluntary Benefits' June Newsletter

9 Key Attributes of a Solid Financial Plan

Pros-and-Cons-of-Whole-Life-Insurace
Term-Life-vs.-Whole-Life-Insurance-IntelliQuote

In my last newsletter I asked the question is Term Life truly "cheaper" then Whole Life.

This generated a heated discussion on LinkedIn about what Whole Life can do and how I justify the added "cost".

Term Insurance is great, don't get me wrong, I sell Term Insurance policies from over 40 different carriers and in many cases it is the right solution for the client.

However, just as Permanent Life is not the perfect fit in all situations neither is Term Life.

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How Universal and Whole LIFE WORK

Below are 9 attributes of a financial plan you should consider.

All should be present guarantee the success of your plan.

1. Systematic flow of money into a product
2. High return on the money
3. Money available when needed/wanted
4. Minimal tax on accumulation
5. Minimal tax on distribution
6. Distribution of money is as easy as possible
7. Contingencies for death, disability, emergencies
8. Minimal loss
9. Flexibility to change plan

Whole Life is the ONLY product that can protect you against Death & Disability while still providing ready access to cash for emergency situations.

It can also be used as a tool in college planning (FAFSA DOES NOT look at the cash value of your Life Insurance policies when calculating need! Can your 529 plan do that?

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Each situation is different and the purchase of a Life Insurance policy should involve a bit more thought then purchasing an item on Amazon.

There are no right or wrong answers just what is best for you!

Please let me know if you have any questions or comments.

Regards,
Scott

SRM Suit

Scott R. Maibor
Principal
Voluntary Benefits of New England
617-721-1250
scott@vboneonline.com
190 Hagman Road
Winthrop, MA 02152

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