Thank goodness John took his life insurance quote seriously. It didn't prevent our daughters from wishing he were still here but thanks to his foresight they and I still have the things he worked for because he turned that life insurance quote into a policy before his untimely death.
Byron, my wonderful husband died at age 33 leaving myself and our two daughters behind. Six months prior he felt a tingling in his arms and it was discovered that Bryon had a terminable brain tumor. I am now raising our (2) daughters on my own as a single parent. How I miss our sweetheart.
Fortunately, when Byron and I were married he made arrangements for such a possibility as he was a caring and considerate man. Being able to invest a portion of the proceeds into a clothing store I owned allows me more time to spend with our daughters and attending to their needs. Because of his foresightedness we have financial stability, security and much peace of mind.
It's not often I don't believe that we land up having so much love and passion for one another. I was very fortunate to find such a wonderful man that I truly loved and respected. I miss the many moments we had together in our very own privacy. I can't share those moments even with our children
Without his pre-planning and preparation it's terrifying to imagine where the girls and I would be today. The plans for the future to a certain measure are still in tact. While we grieve our loss the void will never be filled but our thoughts of John brings great warmth to our hearts.
John was a father and husband who unselfishly thought enough of us and our future to make the decision to turn a life insurance quote into reality for the living. We can't thank John enough.
Statistics show that over half of all life insurance policyholders own policies that have cash value-various forms of traditional whole life, universal life, and variable life, as well as some long-term term policies.
According to a report by the Insurance Information Institute "one of the best uses of this cash value is a loan-money that can be borrowed from the policy without waiting for the lender´s approval," says economist Steven Weisbart.
The report specifies that since the money is a loan it´s not taxable income. The life insurance company will charge interest on the loan, which must be paid back, either through loan repayments or, if the insured person dies, as a deduction from the death benefit that would otherwise be paid.
The interest rate on some policies is fixed, but most are variable, based on current interest rates. Borrowing from the cash value is also a way to pay premiums on the life insurance policies that come due while victims' lives remain disrupted.
In cases of families who have lost loved ones to these disasters, survivors who are named beneficiaries can get help from any life insurance policies in force. "The funds from that life insurance policy you had forgotten about can help a family survive at a time of terrible grief and loss," says Eugene Gordon, Chief Executive Officer of LifeQuote ( http://www.lifequote.com ), an online life insurance shopping service. "The payouts from even the most affordable term life insurance policies can have a huge impact when a family needs it the most," added Mr. Gordon.
In order to submit a claim you should locate your policy and contact the life insurance company directly. If you can't find your policy but have the name of the company, or the agent who sold you the policy, contact them.
Both Rolfie & Baruch Lorio are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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