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Some of the uses of life insurance are:
The life insurance proceeds don't even have to be paid out in a lump sum. A financially savvy person would take it in a lump sum and invest wisely any portions not immediately needed and would probably do better. But not everyone is financially savvy, nor is everyone capable or willing to become so, even though maybe they should. The real determining factor is not what they need to do or should do, but what they are most likely to do once the money is actually in their hands. So another life insurance pay-out option is to provide a monthly income instead of a lump sum. This can be especially attractive when there is fear that the intended beneficiary might not manage a whole lump sum very well (how fast can an eighteen-year-old blow $200,000? Pretty fast!).It doesn't all need to be income, part of it could be a lump sum. This would be desirable since there can be emergencies that arise that would necessitate having some accessible cash available; and of course there could be some immediate costs that would call for having at least a partial lump sum. |
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The PGA Financial Co. PGAFinancial.com Call: (714) 897-0955 Toll-free: (877)336-5490 E-mail: Service@PGAFinancial.com 13736 Goldenwest Street, Suite H Westminster, CA 92683 Lee Martinson | Licensed in: |
PGA Financial has no intent to generate interest in any particular life insurance company or specific policy, but rather to inform and educate you on the general concept -- after which, if you are interested, a broker at PGA Financial will be glad to research companies that offer such plans, get you a quote and assist you in making a choice. If you do become interested and obtain a policy, the broker would be compensated by the insurance company.© 1998 The PGA Financial Co. All rights reserved. |