These types of insurance policies can help during this time of transition. They can be used to hire new help or just keep the lights on and the doors open, according to experts. “The goal should be if in the event of the death of a major shareholder or other key person that the business can be able to continue with minimal financial interruption,” says Matt Tassey, according to Inc. He’s the past chairman of a nonprofit that helps people make smart insurance decisions. “You can’t do anything about the human interruptions,” Tassey told Inc. “But you can make sure the doors stay open, the light bill gets paid, and the mortgage gets paid.”

Deciding whether to purchase life insurance for your business can be a tough decision. Every business owner knows there are dozens of ways to spend extra money, but it’s important to weigh out the decision carefully. Think about what would happen if the company lost key employees and whether it’s a change the business could survive.  “Insurance is to insure a risk that you can’t afford, so if in your business one of your key people were to die, what would it cost you to replace that person? If you were to die, what is the chance for your business surviving? And what kind of impact would that have on your family?” Patrick told Inc. “If it’s more risk than you can afford, then protect yourself and your business with insurance.”

Businesses Taking Out Life Insurance On Key Employees is a post from: Peppercoin Insurance

With many people out of work, selling insurance is a job they can begin fairly easily even though a few years ago they may not have considered it as an option. But it’s definitely not a get-rich-quick job. Statistics from research firm Limra show that 70% of agents earn less than $35,000 in their second year on the job. And sticking with it isn’t very common. Fewer than one out of five new agents are still selling insurance four years later. “You have to step a little out of your comfort zone,” says 48-year-old Catherine Calise, who started selling insurance for New York Life after ending her 18-year real estate career. “I’ll be in line at the grocery store, picking up dry cleaning, grabbing an iced tea at Starbucks, and I’ll be prospecting the person next to me” by striking up a chat.”

While selling life insurance is largely a commission-based job, companies do spend lots of money investing in new agents. Insurance companies spend thousands of dollars on income subsidies, medical benefits, and training.  “We know investing in agents takes a while to pay off,” says Mark Pfaff, a New York Life executive.

Wondering if you might make a good life insurance salesperson? Here are some important qualifications to have according to the Bureau of Labor Statistics:

• A State License: requirements vary by state, but typically you must pass several exams in order to qualify for selling insurance.
• Education: while a college degree isn’t required, some companies may prefer applicants with education in business, finance or economics.
• Continuing Education: Employers are finding continuing education more important as products offered change. Agents must stay up-to-date on tax laws and changes to government benefits programs in order to provide the best service to customers. Most states also require continuing education every two years in order for agents to keep their license.
• High Energy: To sell life insurance, agents need to have a lot of energy and enthusiasm in order to find new clients and meet their needs.

Need A Job? Consider Selling Life Insurance is a post from: Peppercoin Insurance

Even if a non-working spouse passes away then you will have to take over all the duties that they shouldered such as cooking, housekeeping, driving, and taking care of the children. The expenses of these services and of raising children really add up. But is term life insurance the right way to protect your family financially?

Term Life Insurance Explained

Term life insurance pays out a set amount if the policyholder dies just like typical life insurance policies. However, term life insurance policies are only active for a set period of time. If you do not die before that period of time is up then you and your beneficiaries will receive no benefits. After the conclusion of the term the policy can be renewed, but that can be expensive. So why would you even consider a term life insurance policy if the term is just going to run out?

Reasons For Choosing Term Life Insurance

The reasons for having life insurance are obvious if you have kids. You want your children and your spouse to be provided for after you are gone. You want them to have money so that they do not have to worry about any lingering debts and so that they do not have to worry about paying the bills each month. This is why life insurance was created and this is why families with children especially need life insurance.

The reasons for choosing term life insurance if you have kids are compelling. To begin with, term life insurance tens to be less expensive than other types of life insurance policies. For anyone with a family or expecting children, finances are a sensitive issue. You need to be able to pay your usual monthly expenses in addition to paying for this life insurance. The fact that term life insurance is inexpensive is a big draw.

But What About When The Term Is Over?

In case you have not yet figured out the beauty of this strategy, here it is. You can choose a term that will last until the youngest of your children has turned 18 or whatever age you wish. This way by the time the policy expires your children will be old enough to take care of themselves. As long as you and your spouse are totally responsible for supporting your children, the policy will be in effect. Once your children have moved on to the phase of life where they can be more responsible for their own well being then the policy will expire but it will not be as necessary.

There is a trade off in this strategy. You are choosing to lose your benefits at a certain point in time. This option does make it less expensive to have coverage and that can be the clincher for growing families. And you can buy more coverage at a later date if you need it.

Is term life insurance the right choice if you have kids? It very well may be. If you want inexpensive coverage then term life insurance can protect your children until they are grown. And it can help protect your finances while they are still growing.

Is Term Life Insurance The Right Choice If You Have Kids? is a post from: Peppercoin Insurance