Speros Financial Life Insurance Tip Of the Day

 Speros Financial Life Insurance Tip Of the Day

#LifeInsurance is probably one of the most misunderstood financial products sold today. I think most of us understand it pays our beneficiaries if we die. The confusion comes when we have to choose what type and for what reason.

The prices for life insurance coverage can range all over the spectrum. The consumer can be at a real disadvantage if they don’t do some basic research. Here are essential tips you need to know to make smart decisions on buying life insurance for you or your family.

• Review every year: Beware of having an independent broker review your policies. They will try to get you to change your policy every year, saying they will save you money, but in reality they make money every time then change to something new.  Contact your if you aren’t meeting with him regularly and have him make sure you are up to date.

I do have one message of caution: If you own a cash value policy, switching every five to 10 years will not help you either. You should review your policies for loans, cash values, beneficiaries and current insurance needs.

• Know your type: There are two major types of life insurance: term and permanent.
Term is the cheapest and pays only if you die. There is no cash value buildup. It is often sold for five-, 10-, 15-, 20-year terms.

The premium and death benefit types stay level for the length of term.

You can keep the same coverage or reduce it when you covert to a permanent life policy at the end of the term period. You will pay a higher premium but you can keep your coverage until death if you want. That is the best choice for young families who are not saving enough in their 401k.
Whole life you usually pay the same premium, the death benefit increases every year until death, and it creates cash value.

Universal life is a combination of term and whole life. The premiums and death benefit are usually flexible.

• Benefits: Most of the time, the death benefit proceeds are tax-free. As long as your premiums are paid with after-tax money, the death benefit should be tax-free.

I recently talked with a widow, and she was surprised she did not have to pay taxes on her husband’s life policy death benefit through work. Life insurance creates an immediate pile of cash when somebody dies.
It is hard enough to go through the loss of a loved one; it is even harder knowing you have no money to support you and the children.

There are other situations that require advanced design for estate planning, wealth transfer and business succession plans. I hope all of the above helps you make smart decisions about your life insurance

Vasilios "Voss" Speros 602-531-5141
480-840-2000 #new #york #life
http://www.sperosfinancial.blogspot.com/
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vsperos@ft.newyorklife.com
voss5335@gmail.com
85018

— in Phoenix, AZ.

Speros Financial Life Insurance Thanksgiving Tip of the Day!

Speros Financial Life Insurance Thanksgiving Tip of the Day

This is a wonderful time of the year, Family comes together and are thankful to be all together. Make sure that the ones you love are protected, Talk to the about #LifeInsurance. Don’t put it off for another day! If you have questions feel free to call or email us.

Vasilios “Voss” Speros 602-531-5141
480-840-2000 Phoenix, AZ #new #york #lifeinsurancequote
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://www.pinterest.com/voss53/speros-financial/
https://plus.google.com/u/0/110837956257670674290/posts
http://www.vasiliossperos.nylagents.com/
vsperos@ft.newyorklife.com
voss5335@gmail.com
85018

— in Phoenix, AZ.

Speros Financial Life Insurance Phoenix Tip of the Day

Speros Financial Life Insurance In Phoenix tip of the day!
What type of #LifeInsurance do you have? Did someone walk you through a Financial Needs Analysis and help you determine what was best for your situation? At Speros Financial we are here to help you through all your financial stages of life. Protection being the first step in the process then Accumulation which will lead into retirement. Let an Expert give you a helping hand.

Vasilios “Voss” Speros 602-531-5141
480-840-2000 #new #york #life
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://www.pinterest.com/voss53/speros-financial/
https://plus.google.com/u/0/110837956257670674290/posts
vsperos@ft.newyorklife.com
voss5335@gmail.com
85018 Phoenix AZ
Long Term Care Insurance

Speros Financial Life Insurance Modern Monday Tip

 Speros Financial Life Insurance Modern Monday Tip

With the upcoming holiday season I wanted to let you know of a unique gift idea for the child you love.

The Gift of Financial Independence

Consider giving the child you love a cash value whole #LifeInsurance policy. It’s a unique gift that grows with them and lasts a lifetime. Unlike toys, clothing and electronics, cash value whole life insurance is a sound financial instrument that

offers these benefits:

■ Guaranteed cash value accumulation that may be accessed generally tax free

for any of life’s needs

■ Additional growth through dividends

■ Ability to purchase additional insurance protection to cover anticipated and unanticipated

events in adulthood via the Policy Purchase Option (PPO) rider

■ Insurability that is locked in at time of purchase

■ Lower premium rates based in part on age

When It Comes to Life, Timing Is Everything

Time is an asset when it comes to purchasing insurance. Purchasing a policy for a child you care about when he or she is young is more cost-effective and may be beneficial later in life, if he or she becomes uninsurable or less insurable.

For example, a whole life policy issued at age 0 with a $250,000 death benefit will cost only

$1,255 per year. The annual premium for the same amount of coverage will be higher as the

issue age increases.

A Legacy of Financial Security

Best of all, when you purchase cash value whole life insurance for a child, you’ll be remembered for giving a guaranteed head start toward financial security — that’s both meaningful and lasting.

A Special Way to Say You Love Them

Vasilios “Voss” Speros

Vasilios "Voss" Speros 602-531-5141
480-840-2000 #LifeInsuranceQuote
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://www.pinterest.com/voss53/speros-financial/
vsperos@scaaz.com
Phoenix AZ 85018

Speros Financial Life Insurance Tip of the Day

Speros Financial Life Insurance Tip of the Day
#LifeInsurance can help you financially, whether it's funding your children's education or planning for a comfortable future. Speros Financial provides #LifeInsuranceQuotes, that are quick and easy, so you can shop at your convenience.
When you shop for term life insurance with Speros Financial, you get:
• free life insurance quotes
• low prices
• quick and easy life insurance applications
• superior customer service 

What is term life insurance?

Term life insurance provides coverage for a specific period of time. Generally, you can buy term life insurance for periods of ten years or more, and your policy is active until that period passes. The other type of life insurance, whole life insurance (also known as permanent life insurance), covers you throughout your lifetime and has a cash value. You might also hear about universal life insurance, which a form of whole life insurance that offers flexibility in premium payments.

Speros Financial offers term life insurance to that will fit into your budget.

Why buy life insurance?

Life insurance is something to consider, regardless of your age. Rather than thinking it's morbid, look at life insurance as a smart way to plan for others so they're not left floundering. If you're single, married, a parent, or a grandparent, you can find the right life insurance policy to suit your needs.

With term life insurance, you can match the length of your policy to your specific needs - something many people may not consider. For instance, if your mortgage will be paid off in 15 years, you want to make sure your life insurance policy adequately covers that period. However, after it's paid off, you can adjust your life insurance policy to match your needs at that time.

How much life insurance do you need?

An ideal time to buy life insurance is when you're healthy because you'll pay less. As the years pass, keep in mind that rates change, so even if you already have life insurance, you can get the same - or more - coverage for less money.

Other factors to consider when you're deciding on life insurance include:

• medical expenses
• your children's age
• whether you're the sole income earner
• funeral expenses

Planning for life insurance doesn't have to be an unpleasant experience. In fact, it can be quite comforting to know that you've considered all aspects of your life and are ensuring your loved 

 Vasilios "Voss" Speros 602-531-5141
480-840-2000 #Longtermcareinsurance
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://www.pinterest.com/voss53/speros-financial/
http://www.vasiliossperos.nylagents.com/
vsperos@ft.newyorklife.com
Phoenix AZ 85018

Phoenix Life Insurance Leading tip of the Day

Speros Financial Phoenix Life Insurance Tip of the Day!
A loved one dying is always difficult and the stress can be overwhelming. Despite your grief you will probably find yourself asking, “How much does a funeral cost?”

You may have #LifeInsurance to cover funeral expenses, but average funeral costs are still pretty steep. Researching the costs before planning your loved one’s funeral will help set forth a sensible plan to help you through the funeral process.

Average Funeral Costs

According to the Federal Trade Commission, the average funeral costs in the United States can be well over $10,000 by the time you add floral arrangements, prayer cards and family transportation. Traditionally, when people think of funeral expenses they think of things like a casket and flowers. However, there are other items to take into consideration when planning a funeral, especially if you already cashed out your life insurance policy.

Cemetery Cost

Most people understand that cemetery costs can be profound. Headstones often start around $500 and run upwards of $4000. The materials used for construction contribute to a wide price range. An average granite headstone in 2009 cost about $1500. If your loved one did not already have a cemetery plot, you will need to purchase one. Prices of cemetery plots depend on location. They start as low as a few hundred dollars and can be upward of a few thousand. Also, be prepared to pay someone to open the burial ground, and vault used to reinforce the grave site. Opening the grave and vault preparation are around $600 and $1000 respectively.

Casket Cost

Another major funeral cost is the casket. There are many choices of caskets available from cardboard to stainless steel. According to the Casket & Funeral Supply Association of America, metal caskets were the predominant choice with 65 percent of all caskets sold in 2007. The average cost of a metal casket then was around $2300 as specified by the National Funeral Directors Association (NFDA) price list survey.

Funeral Home Fees

Some items that people neglect to consider are services the funeral home will charge to prepare the funeral arrangements. Most funeral homes will charge a basic services fee. This fee includes expenses such as housing the body, retrieving the death certificates, and collecting burial permits. These fees vary depending on the funeral home used. They average around $1,595.

 Vasilios "Voss" Speros 602-531-5141
480-840-2000 #LifeInsurance #LongtermcareInsurance
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://vasiliossperos.nylagents.com/
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85018

Phoenix Life Insurance Tip

Speros Financial Phoenix Life Insurance Top Tip of the Day!

How long will the #LifeInsurance you have, last for on a monthly basis? After your final expenses $1,000,000 will pay out about $5,000 a month based on a conservative 5% interest with the left over money. Question? Do you have enough? Ask your spouse and kids if they can live off the amount of Life Insurance, you currently have, for the rest of their lives if you don’t make it home.

Vasilios "Voss" Speros 602-531-5141
480-840-2000 #LongTermCareInsurance
http://www.sperosfinancial.blogspot.com/
http://www.linkedin.com/pub/vasilios-%22voss%22-speros/60/722/67b
http://www.vasiliossperos.nylagents.com/
http://www.pinterest.com/voss53/boards/
vsperos@ft.newyorklife.com
85018

How much life insurance you need depends on your financial situation and your specific circumstances at this point in your life. 

Our insurance needs calculator takes into account your marital status, age, and life stage to help you estimate how much insurance you may need to meet your financial goals – whether that’s covering the cost of college, paying off debts, funding charitable organizations or keeping your family in their home. 

Everyone’s situation is unique and only you can determine the exact amount of life insurance you need.

• Single and in your 20s; you may need life insurance to pay off student loans, car payments, credit cards and other debts so they do not become the responsibility of another family member. Hard as it is to imagine, if you die, your family also needs cash on hand to cover your final expenses.
• Married with young children; you most likely have modest savings and big responsibilities — a mortgage, child care and other monthly bills. If you die prematurely, life insurance will help your spouse maintain your home and provide for your children’s support, now as well as in the future.
• Single parent and sole breadwinner; life insurance will help cover your children’s day care costs and other living expenses and fulfill plans for their future education if you are no longer there to provide for them.
• Married homeowner with no children; life insurance can provide the money to meet financial goals and help your spouse hold onto the assets and the lifestyle you’ve both worked hard to achieve.
• Married with college-age children and/or elderly parents; a premature death could deplete your retirement savings or other assets. Life insurance can help replace lost income to cover the cost of current living expenses, college tuition and/or your parents’ care.
• Married with grown children; you may want to consider life insurance as an opportunity for supporting your favorite charities, building a legacy for your children and grandchildren or covering estate taxes.