Insuring Against Recession
Check your life insurance policy to ensure it’s right for today’s troubled economy.
“A whole life insurance policy is the Swiss Army knife of the insurance world.”
Beth PiskoraManaging Editor, U.S. Editorial
The Outlook, Copyright © 2008, The McGraw-Hill Companies.
“Unemployment currently stands at 5%, but David Wyss, the chief economist for Standard & Poor’s, sees it creepingup to 5.5% by the end of this year. That means up to 750,000 Americans could potentially lose their jobs in 2008.
“Are you prepared — financially, if not emotionally — if you lose your job? If not, you might, with a financial advisor, consider buying more insurance. Even if you are retired, or feel very strongly that your income stream is safe, there are some stable long-term savings options in many insurance plans that you might want to consider in these volatile times in the stock and bond markets.
“While term life insurance is overall a more popular product, whole life insurance is enjoying a resurgence of demand. To understand if whole life is right for you, it’s best to know a lot about the product.
“A whole life policy can act as a buffer against estate taxes and probate costs, and provides a death benefit along with a living cash benefit, a feature unique to whole life. In addition, a whole life policy allows someone at the time of retirement to remain insured while spending the other assets they’ve accumulated or pursuing a more aggressive investment strategy for those assets.
“A whole life insurance policy is the Swiss Army knife of the insurance world,”… read the rest here –> http://themoneyforlifebook.wordpress.com/why-whole-life-insurance-works-in-tough-times/
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Money For Life…in good times and bad – How to Thrive in the 21st Century addresses the issues raised in this article in detail.
buy it today at –> www.TheMoneyForLifeBook.com
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