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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.com
Many factors affect the cost of life insurance. While you can minimize some of these costs, others are out of your control. Either way, understanding how life insurance is priced can help you make a more informed and less expensive buying decision. And as this year’s turmoil has shown, adults of every age should consider their need for life insurance.
Life insurance can either be underwritten or not. The cost of group life insurance you get through your employer is typically not underwritten but based on the insurer’s experience with a particular group of insured people. Other life insurance policies, especially some that you buy individually, are underwritten. Underwriting is as simple as a questionnaire about your health or as complicated as a blood test or medical exam. The latter is usually reserved for the highest life insurance amounts.
Finally, some types of life insurance offer options, called riders. They can pay premiums if you become disabled, increase your life insurance benefit over time and more. Some cost extra, others are free.
There are things you can do to reduce costs and some of these steps revolve around health. If you smoke, find a smoking cessation program and try to stop. In time, this will lower your premiums and could improve your health. If you have health conditions you can correct with a good diet or exercise, take action to improve your health. And if your driving record factors poorly into your life insurance premiums, become a safer driver.
These and other steps can help you save on life insurance premiums. Talk to a life insurance professional to learn more.
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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.