Which Do I Buy ? Term or Cash Value Insurance

I am often asked which is better. Term or whole life. My answer is always the same.

Tell me when you will die and I can tell you which is the best plan for you. But, of course you cannot tell me this. If you could you would not be able to buy a policy from any insurance company because They would not issue you a policy knowing that your timeline was finite. It is because of this uncertainty of life that we desire to buy life insurance to begin with. The best plan is the one that is in force at the time of your death. For example : lt’s say you are considering a $100,000 20 year term policy at a premium of $20 per month or a $100,000 cash value policy at a premium of $80 per month. It becomes rather obvious that should you death occur with that 20 year period then you would have paid less for the insurance. Let’s assume for a moment that your death did not occur and you renewed this 20 year term policy for another 20 years at a premium now of $60 per month. you have not died with this 20 year period either. Now your term policy needs to be renewed again but the renewal premium is now $300 per month and you cannot or are not willing to afford this so you allow the policy to lapse. All you have for the past 40 years of paying for this insurance is receipts totalling $16,800. 3 months later you die suddenly of a heart attack. Nothing is paid.

Using the above senario if you had purchased the cash value policy your premiums would not have changed during this time frame. You would not have had to make additional buying decisions. When the 40th year ended you simply continued paying your $80 premium. At your death you would have invested $38,640 but your beneficiary would have received the $100,000 death benefit. if you had elected to terminate the cash value policy at the end of year 40 you would have received the cash value of  $39,000.

As previously stated it all depends on when you will die.

What is Life Insurance To You ?

I am a piece of paper, a drop of ink and a few pennies of premium.

I am a promise to pay.

I help people see visions, dream dreams and achieve economic immortality.

I am an education for the children.

I am savings.

I am property that increases in value from year to year.

I lend money when you need it most, with no questions asked.

I pay off mortgages so that the family can remain together in their own homes.

I ensure people the daring to live and the moral right to die.

I create money where none existed before,

i am the great emancipator from want.

I guarantee the continuity of business.

I conserve the employers investment.

I am tangible evidence that a man is a good husband and father, and that a woman is a good wife and mother.

I am a declaration of financial independence and economic freedom.

I am the difference between and old man or woman and an elderly gentleman or lady.

I provide cash if an illness, injury, old age or death cuts off the breadwinner’s income.

I am the only thing that you can buy on the installment plan that your family doesn’t have to finish paying for.

I am protected by laws that prevent creditors from assessing the money I give to your loved ones.

I bring dignity, peace of mind and security to your family.

I supply investment capital that makes the wheels turn and the motors hum.

I guarantee the financial ability to have happy holidays and the laughter of children – even though father or mother is not there.

I am the guardian angel of the home.

YES, I AM LIFE INSURANCE

Insure Your Toys

Are your toys properly insured? Here at this agency I represent several very good insurance companies to make certain that when something happers to damage or destroy your boat, jetski, motorhome, travel trailer or motorcycle then it can be repaired or replaced as needed. Please phone me at ( 334 ) 298-5626 for all the details.

Summer Fun

Summer is just around the corner, and with warmer weather comes outdoor fun: taking your boat out, camping in the RV, swimming in the pool, or maybe a road trip on your motorcycle. Along with the fun comes the responsibility of insuring your summer assets, and it’s much easier to enjoy them when you know that they are properly insured.

What kind of insurance should you have?
Watercraft such as jet ski and boat insurance will be covered under a marine policy.
RVs (recreational vehicles) and motorcycles require an auto policy separate from your regular auto policy.
Swimming pools are typically covered under your homeowner’s policy, but require specific rules and regulations to ensure safety.  Ingram Insurance Agency can provide you with this information concerning diving boards, slides and fence regulations.

Ingram Insurance Agency can help you find the right policy for your summer toys! We would love the opportunity to become your insurance agent.  We are an independent agency that offers coverage from several insurance carriers. Our goal is to develop a relationship with our customers, learn their specific insurance needs and then find the best coverage at an affordable price.  Some insurance carriers allow you to purchase insurance directly – either online or over the phone from a customer service representative.  But we encourage you to give us the opportunity to provide you with local reliable service with a personal touch here in Phenix City AL!

I AM A LIFE INSURANCE POLICY

I am a piece of paper, a drop of ink and a few pennies of premium.

 

I am a promise to pay.

 

I help people see visions, dream dreams and achieve economic immortality.

 

I am an education for the children.

 

I am savings.

 

I am property that increases in value from year to year.

 

I lend money when you need it most, with no questions asked.

 

I pay off mortgages so that the family can remain together in their own homes.

 

I ensure people the daring to live and the moral right to die.

 

I create money where none existed before,

 

i am the great emancipator from want.

 

I guarantee the continuity of business.

 

I conserve the employers investment.

 

I am tangible evidence that a man is a good husband and father, and that a woman is a good wife and mother.

 

I am a declaration of financial independence and economic freedom.

 

I am the difference between and old man or woman and an elderly gentleman or lady.

 

I provide cash if an illness, injury, old age or death cuts off the breadwinner’s income.

 

I am the only thing that you can buy on the installment plan that your family doesn’t have to finish paying for.

 

I am protected by laws that prevent creditors from assessing the money I give to your loved ones.

 

I bring dignity, peace of mind and security to your family.

 

I supply investment capital that makes the wheels turn and the motors hum.

 

I guarantee the financial ability to have happy holidays and the laughter of children – even though father or mother is not there.

 

I am the guardian angel of the home.

 

YES, I AM LIFE INSURANCE.

TERM OR CASH VALUE INSURANCE ?

I am often asked which is better. Term or whole life. My answer is always the same.

Tell me when you will die and I can tell you which is the best plan for you. But, of course you cannot tell me this. If you could you would not be able to buy a policy from any insurance company because They would not issue you a policy knowing that your timeline was finite. It is because of this uncertainty of life that we desire to buy life insurance to begin with. The best plan is the one that is in force at the time of your death. For example : lt’s say you are considering a $100,000 20 year term policy at a premium of $20 per month or a $100,000 cash value policy at a premium of $80 per month. It becomes rather obvious that should you death occur with that 20 year period then you would have paid less for the insurance. Let’s assume for a moment that your death did not occur and you renewed this 20 year term policy for another 20 years at a premium now of $60 per month. you have not died with this 20 year period either. Now your term policy needs to be renewed again but the renewal premium is now $300 per month and you cannot or are not willing to afford this so you allow the policy to lapse. All you have for the past 40 years of paying for this insurance is receipts totalling $16,800. 3 months later you die suddenly of a heart attack. Nothing is paid.

Using the above senario if you had purchased the cash value policy your premiums would not have changed during this time frame. You would not have had to make additional buying decisions. When the 40th year ended you simply continued paying your $80 premium. At your death you would have invested $38,640 but your beneficiary would have received the $100,000 death benefit. if you had elected to terminate the cash value policy at the end of year 40 you would have received the cash value of  $39,000.

As previously stated it all depends on when you will die.

Auto Insurance Fraud

Fraud is not a “victimless” crime. Every customer – directly, as the victim of a staged auto accident or indirectly, because of premium increases – pays for this criminal activity. It’s in everyone’s interest to reduce the problem.

There are many kinds of Auto insurance fraud, including staged accidents, inflated medical bills, phony injuries, owner give-ups, false repair bills and claim padding.

Millions of people fall victim to staged accidents every year without realizing it. There apparently simple fender benders are actually premeditated crimes, invilving organized rings od dctors, lawyers and body shop owners.

You can help fight this type of fraud.

> Do not be a victim. Drive defensively, and thouroughly document all auto accidents in which you become involved.

>Report fraud to the Auto Fraud Hotline at 1-888-662-6616

Lewis Ingram

http://lewisingramagency.com/243/