Pergoki Istri Bersama Pria Lain, Suami Malah Jodohkan Mereka

Sumber: www.viva.co.id

How To Get The Best Life Insurance Deal If You're Self Employed

There are many benefits to being self-employed. You get to be in charge. You're the boss and making all the decisions. Plus you can work at your own pace. The work day belongs to you and that can be fun and inspiring. As fantastic as this is, being self-employed also comes with greater responsibilities.

No one wants to think about a worst case scenario, but as a business owner, you need to consider what will happen to your family and dependents in the unfortunate event of your death. There are a variety of benefits packages offered worldwide, and a little bit of research on your part will show what coverage is required by law. One of the benefits, referred to as death-in-service, is life insurance. Many business owners feel that life insurance is optional. Since it isn't required to be included in a benefits package by law, there's a tendency to overlook it. However, as a self-employed person, life insurance is a necessary coverage on a personal level.

As a sole proprietorship or small business owner, you alone bear the risks of being self-employed. You single-handedly are responsible for all profits, losses, financial obligations, and business assets. You have an unlimited liability which means that your business debts can be covered by your personal assets. In the event of your death, you will be leaving your family with all the debts of your business. This means that your personal assets will be collected to assuage your professional debts. Your spouse will be liable for this. In addition to grieving, they will be struggling to cope with your outstanding expenses, and you don't want to leave them with this additional stress.

Purchasing life insurance will help you avoid leaving your loved ones in a financial lurch in the event of your death. If you have life insurance, then you can be certain that your family will not be financially over-burdened. They will be able to satisfy your outstanding debts without assuming them and risking their own financial security. Plus, you will have the peace of mind that your family will be protected financially. To find the best life insurance policy for your needs, there are some things you should keep in mind.

a. How much insurance is required and when?

Generally speaking, the younger you are the more affordable and inexpensive an insurance policy is going to be. In other words, there's no "optimal" age to begin life insurance. There is no government standard regarding how much life insurance you need either. When you talk to an agent, several things will determine how much coverage you need. Important factors are your business structure, your professional and personal goals and future plans, level of income, lifestyle and your attitude towards risk. It's a good idea to have a general idea of the parameters of these items before you speak with an insurance agent.

b. What should your life insurance cover?

A general rule of thumb is that your policy should cover business expenses, funeral expenses, other debt obligations, any mortgage payments, credit cards, an amount of income that will help your family sustain their way of life, and the future education of any children.

c. Which policy quote suits you best?

A reputable insurance consultant or agent is the best way to explore different life insurance policies. Contact one for a detailed overview of the options and implications of various policies that you may be eligible for. The following factors will be important when obtaining quotes for different policies:

1. Your level of income: Can you continually pay out premiums? How much can you afford to pay?

2. Tax deductibility: Is the insurance policy tax deductible? What about death benefit?

3. Types of benefits: What is being covered under this particular insurance and how?

4. Duration and convertibility: If you're opting for term life insurance because your long-term business planning is ten years or longer, can you eventually convert the policy into whole life insurance? Do you really need permanent insurance?

5. Method of payment: Is your family going to get a lump sum or regular periodic payments?

The right life insurance policy that best suits your business will mean peace of mind for you and your family. As you're enjoying all the benefits of being self-employed and owning your own business, a good life insurance policy will ensure that regardless of all the ups and downs of business life, you'll have the benefits to see you through safely and securely. You can be certain that your financial future will be secure, and your family will be thankful for the extra financial security too.