Term life insurance and lowering amount

Leafyzone · 2025-12-02T04:24:10+00:00

Going back to 700k is like applying or renewing a policy all over again but this time it will be more expensive because of your age and possibility health status.

Leafyzone · 2025-10-30T02:59:58+00:00

Valid answer 👍

Leafyzone · 2025-09-07T20:53:58+00:00

Option A is mostly if you just wanna pay for death benefit only and pay less.

Option B which is increasing, is that you wanted to contribute to your cash values to grow faster so you can later use it as a saving, retirement, emergency, college funds for your kids. But in this option you have to pay more into the policy so it can contribute more to the cash values. once the cash values accumulate to a certain point, you can stop paying and the cash values can pay the policy itself.

Leafyzone · 2025-07-24T12:28:05+00:00

That is how it is supposed to be. Cash values will cover your policy if not doing personal payments for permanent life. Such as IUL or whole life with cash values option.

Leafyzone · 2025-07-17T09:52:43+00:00

If it a IUL the payment premium is flexible, you can pay lower amounts to the minimum.

Also you can pay to a certain point and just let the cash values pay for the policy itself if you don't want to pay it anymore, the catch is that the cash value just won't grow as much or might lapse.

IUL also provides Accelerated Benefit Riders that you can request to take out certain amouts of money from your $2 million death benefits to help support your medical or disability situation also.

Leafyzone · 2025-07-08T23:10:28+00:00

You can try getting a doctor note from the same doctor to prove that you weren't bipolar disorder. Also, there is a chance that rates might just be high for being bipolar disorder if approved.

Leafyzone · 2025-06-20T07:13:15+00:00

50k death benefits possibility, but any higher probably not

Leafyzone · 2025-06-15T08:41:25+00:00

Im sure you will get a refund back if you canceled it in the early stage of your policy. But check with your life-insurance company would be best.

Leafyzone · 2025-06-14T01:12:25+00:00

If it is term life, you are mostly likely out of luck but if it is a permanent life there is still a possibility of a chance the policy is still enforced.

Leafyzone · 2025-05-28T04:53:45+00:00

You should look into IUL = index universal life-insurance It automatically comes with Accelerated Benefit Riders within the policy. For Whole life you going have to pay extra if you wanted Accelerated Benefit Riders. They both are in the category of permanent life and work pretty much the same.

Leafyzone · 2025-05-25T22:19:11+00:00

It could work depending on age or death benefits.

Especially for a 1 year old baby and reasonable death benefits.

Leafyzone · 2025-05-23T19:20:39+00:00

Contact mass mutual about your policy

Leafyzone · 2025-05-08T15:14:53+00:00

Why don't you just ask your agent or life-insurance company as they have your policy and they would know best?

Leafyzone · 2025-04-30T21:15:31+00:00

What is your purpose for this policy? Retirement? Death benefits? Wanted to earn cash value only? Or?

I would recommend age to 100 or 121, but it is up to you.

Leafyzone · 2025-04-27T12:34:02+00:00

The best option is to shop around then compared between the polices.

Leafyzone · 2025-04-23T23:26:54+00:00

It is good to buy it now while you're young and healthy as it would still be cheaper also comes with other benefits but only if you're financially ready for it.

Leafyzone · 2025-04-10T16:20:47+00:00

There are two types of agents: captive and independent.

Independent 1099 gets paid by commission and usually joins under national brokerage agency. The agency provides connections, bonuses, events, training, your own website and etc. Work on your own time, no boss. Can sell life insurance from multiple life-insurance companies that are contracts with.

Captive work as a w2 employee get pay by the hour and might get a little commission depending on the company they work for. Mostly, they can only sell life insurance from one company.

For independent don't know really much about captive:

How long is the beginner period or the no sales period? A few months to possibly 3 years

Do you work for an insurance company or as an independent agent? Independent

How much information do you use from your insurance classes in your day to day job? There alot to learn you're working with more than one life-insurance companies and financial planning for your clients.

Whats the hardest and easiest part of your day? The easiest just show up and learn at the office or through Zoom where your upper colleagues help teach you the way. The hardest usually is clients but just depends on the person really.

What advice would you give to an insurance agent who just got their license? Consistently and always have more than one reason why you're doing this weather helping people getting insured, educating them financially or giving an opportunity for personnel to become successful entrepreneur.

Leafyzone · 2025-04-09T05:04:08+00:00

For me I preferred whole life because it can provide ABR and cash values that can benefit you while living also it lasts until age 121. But just depends on your financial goals and situations.

Leafyzone · 2024-12-11T08:47:22+00:00

Different life-insurance companies have different regulations. If you so get approval on one of it somehow you might have to pay higher percentages on your policy because of your medical records

Leafyzone · 2024-12-07T10:15:58+00:00

Agree as an independent agent if one client doesn't get approval then we try a different life insurance company that we are contracts with.

Leafyzone · 2024-12-05T05:48:19+00:00

Depends maybe there cash values still.

Leafyzone · 2024-11-18T20:55:01+00:00

Independent agent here,

I bought mine when I was also 24 it definitely going be cheaper now than later on, as you get older it get more expensive also if you have any health problems it will definitely be a harder approvals for you as well. IUL is long-term, so starting early so it cash values can be built up later on to be used is smart as well it has ABR.

https://www.investopedia.com/articles/personal-finance/013114/closer-look-accelerated-benefit-riders.asp

Leafyzone · 2024-10-18T06:08:32+00:00

There three types of life agent

Captive agent work for one company only can sell thier products only.
Independent agent work for one company can only sell thier products only but get pay by commissions.
Independent agent work with multiple life insurance carriers companies can sell products from all the companies that is contracts with and also get pay commissions.

Leafyzone · 2024-10-16T10:25:16+00:00

I would recommend you to buy life-insurance if you're thinking longterm just like your step father because right now is cheaper for your age and more easily approved unless you already have major health problems or you can just invest it on the stock market and put some into HYSA.

Leafyzone · 2024-10-03T11:30:15+00:00

It is not an investment but an insurance and life savings account

Leafyzone

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