Only Life Insurance Policy You Need

No one’s financial plan is complete without life insurance. 

If your financial planner does not incorporate life insurance in your financial plan he or she is doing you a tremendous disservice. 

The only question is what type of life insurance.

Limited Value of Term Insurance
While term insurance term insurance can be useful for a young person, recently married, with a mortgage and young children, for older people whose children are grown and who have the potential of acquiring a health problem, term insurance is not the way to go. 

Term insurance is just what the words alludes to. It's for a term of years and then it's no more. If you have an option to keep it and do so, your premium jumps significantly higher. 

Forgetting term, for most of us a choice need to be made among four types of life insurance: a preferred whole life, 20 pay whole life, whole life with modified death benefits, and a whole life final expense .

Final Expense Whole Life Policy
If you have a preferred whole life or a 20 pay whole life already in place, then the only type of life insurance policy you still must have is a whole life final expense policy.

You need a whole life final expense policy to provide your family the money when they need it – a policy which will pay all the costs associated with your funeral and burial expenses within 24 hour of the documents being received while you are waiting on the other policies to pay out.

The other policies may be designed to provide for a lifetime income for your surviving family and may take take several weeks or more to pay out. However, only the whole life final expense policy will give your family immediate benefits.


For Illinois residents, call (773)614-3201 for more information and quotes.

Insure Your Children's Life - A Must For Parents

Insuring children lives are often overlooked. Parents and grandparents must consider insuring the lives of children in their care.

Children Lives Need to be Insured
While the parents and grandparents must make sure that their lives are insured first and foremost, if funds are available to insure the children, the children lives need to be insured.

Insurance Premiums for Children are Low
The insurance premiums for life insurance for children tend to be very reasonable because of their long life expectancy. However, tragedies and accidents can and do occur everyday.

And, no one wants to have to take up a collection or draw down savings to bury a child. Therefore, what amounts to less than a dollar a day. for example, for a child entering kindergarten at 6 years old, the annual premium for a 10,000 policy would be $57.60. 

This would be a whole life policy that build up cash value and one that the child can keep at a low premium once he grows up and becomes self-reliant.

One other matter to consider is that if the child become uninsurable, for whatever reason, and the existing policy is in force, it can not be cancelled by the company as long as the premium continues to be paid. 

Call (773) 614-3201 for more information on insuring your children. If you have any thoughts on this matter, leave your comments below.

7 Free and Important Medicare Benefits for 2019

Take advantage of Medicare preventative screenings and services in 2019. 

Here's an update on some no or low cost preventive tests and services available for Medicare Part B recipients under  Medicare's Medicare Advantage Plans.  

In most Medicare Advantage Plans , the free services include various exams, lab tests, and screenings. Also included are vaccinations and programs for health assessment, as well as counseling and education to guide you in caring for your own health and well-being. 

Here are the 7 Medicare benefits for 2019 :

1.   Flu shots -- once a year. Pneumonia shots are also free.

2.  Diabetes screening -- once a year, or every six months for those at risk.

3.  Cholesterol screening -- once every five years. This also includes test for lipid, lipoprotein, and triglyceride levels.

4.   Bone density measurement -- once every two years or more if you have certain medical conditions or meet certain criteria.

5.  Mammogram screening once a year for  all women with Medicare, 40 and older.  Medicare covers one baseline mammogram for women, 35 to 39.

6.  Prostate cancer screening -- once a year. Annual PSA (prostate specific antigen) and a digital rectal exam -- available to all male Medicare enrollees age 50 and older. Under medicare, you pay 20% of the Medicare  approved amount, and the Part B deductible applies for the digital rectal exam. Your Medicare Advantage Plan or your Medigap may cover a portion of all of the 20% and/or deductible.

7.   Colonoscopy -- once every two years for people at high risk, once every 10 years for others, or 48 months after a previous flexible sigmoidoscopy.

These services are mostly free because they re viewed as preventive steps and can effectively reduce the need for  more intensive treatment or hospitalization. 

Please take advantage of them. Leave your comments below. of call (773) 614-3201 for a free consultation.