health when you’re older. Because of that, they’re a bit more lenient when deciding which health
class you qualify for. Working with an independent life insurance agent, like Cosmo Insurance, you’ll
have greater access to a wide selection of insurance companies that offer these features.
2. Retirees buy from buy whole life insurance: Buying a whole life insurance policy if you’re over fifty
five isn’t a good idea. In a lot of cases, it takes ten years just to break even on your premiums with the cash value.
It also takes twenty year (or more) for the cash value to actually start making real money. You might still have a
permanent life insurance need. Check out “a guaranteed universal life insurance” policy. They offer concrete
level coverage for the fraction of the cost of whole life.
3. Retirees buy from their local insurance agent: When it comes to life insurance, though, these companies can’t
offer you the same kind of selection that you can get with an independent agent, because typically these home & auto
agents are “captive” to sell only one company’s policies. That means two things: You won’t get the chance to compare
prices to get the best deal. You may not get a chance to find a company that offers specialty life insurance for your needs.
That’s because there’s only one company from which to choose. And when you have specialty needs, you need a specialist like Cosmo Insurance Agency.
4. Retirees give up their unneeded insurance policies too soon: Some companies can offer to make payments
for you for a period of time in the form of a loan. In exchange, if you pass away during the loan period, the death
benefit on the policy pays back the loan with interest, and the remainder goes to your loved ones. So, your
beneficiaries still get some money, and you got rid of your monthly premiums. If you don’t die by the end of the
loan period, you have to pay back the loan. You can do this by simply handing over the policy to the company.
In this case, you were going to cancel the policy years ago anyway, and you got a few extra years out of it for free.
Employers, find out about our selection of group life insurance plans, which can help you greatly to attract and retain quality employees. Additionally, these can be a particularly appealing option for individuals with health challenges, as most group life insurance plans do not require a medical examination. Whether you want a basic group life insurance plan or life insurance with long term care benefits, Cosmo Insurance Agency’s life and health insurance agents in New Jersey will be there to guide you. 732-363-3888