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    Life Insurance Blog

    Life Insurance Beneficiaries

    Posted by Guest Blogger on Wed, Jul 16, 2014 @ 09:34 AM

    describe the imageWhen choosing one or more life insurance beneficiaries, it is important to note that there are 2 major distinctions: Per Capita and Per Stirpes.

    When a person dies without a will, the estate of the deceased is called intestate. In this case, the state will take control of the estate and decide who will become the beneficiaries. The property of the estate will pass to the decedent’s heirs at law according to the laws of intestacy. Although this blog is not about life insurance planning, it is always recommended that everyone have a will. The will should be executed by a qualified professional.

    Per Capita - the grantor (you) indicates that no one except the named beneficiary receives that share of the estate. For example, let’s say that you name three beneficiaries in your will, your 3 siblings, David, Ronald and Susan.  You want all 3 to split the estate equally. If each sibling is alive, each will inherit one third of the estate. But let’s assume that your brother David dies before you do.

    Ronald and Susan will then inherit 50% of your estate.

    Per Stirpes – In the same example above, you still name three beneficiaries in your will, your 3 siblings, David, Ronald and Susan.  You want all 3 to split the estate equally. If each sibling is alive, each will inherit one third of the estate. But let’s assume again that your brother David dies before you do.

    His share (one-third) automatically is inherited by his heirs (such as his children).

    Knowing the difference between Per Capita and Per Stirpes inheritance is an important factor when organizing your will; make sure to choose the system that best fits the needs of you and your family.

    Legal & technical disclaimer:  Any advice provided here is not legal advice.  Statements or advice are based on our experience in risk control, mitigation, and transfer, and is believed to be effective and valid when provided.  All legal or contractual wording, including any suggestions offered in a legal context, should be reviewed by qualified legal counsel.

    Learn more about life insurance here.


    Tags: insurance, life insurance, will, beneficiary, beneficiaries, per capita, per stirpes

    Life Insurance - Why You Should Pursue It

    Posted by Geoffrey Gordon on Wed, Jul 09, 2014 @ 10:27 AM

    Protect your family with life insurance from andrew gordon inc insurance norwell maLife insurance costs have come down consistently over the past 20 years, reflecting the fact that people are living longer.  Medical advances, awareness of the benefits of diet and exercise, and vehicle safety all contribute to this trend. The hardest part about life insurance for most people is initiating the process.  Nobody wants to pressured into buying something they don’t need and don’t want.  Fortunately today, it’s easier than ever to get a no-pressure quote from us.  We use SBLI for most customers needs, since they’re always competitive, and always easy to work with.  

    SBLI has an online needs calculator to assist you with deciding on an amount. We offer the same great rates and coverage options, but you also get our help with deciding the best match for you, as well as navigating the underwriting process.  You choose the time period you want insurance to last, and you’re on your way…

    Underwriting is easy too.  When you first speak with us, we’ll ask a few questions about your height and weight, family history, and any hazardous hobbies you do to get a realistic sense of your underwiting category, so you can plan on costs that are realistic.  Once you decide on what you need, we arrange to have a licensed paramedic meet you at your home or office for the medical part. Getting around to the right amount of life insurance is fast, easy and economical.

    Learn more about life insurance here, and get some life exam tips here


    geoff gordon

    Tags: life, insurance, cheap, coverage, accident, massachusetts, liability, protection, prevention, underwriting

    Life Insurance: Do I Really Need It?

    Posted by Geoffrey Gordon on Thu, Sep 29, 2011 @ 12:48 PM

    describe the imageLast week, browsing through the endless visage of space that is the internet, I stumped upon (without using StumbleUpon; it's safe to say that the web service has effectively killed an otherwise good expression) a forum where people were invited to post questions about their life insurance.

    One quizzical questioner quipped, "Why do I even need life insurance? Can't I save the money myself?"

    So Do You Need Life Insurance?

    The answer, in most cases, is no. I say "in most cases" because there are always exceptions. For example, life insurance may be court-ordered as part of a divorce settlement; but in general, you have no legal obligation to purchase life insurance.

    Now, before you sprint out of the room and dramatically burst into your insurer's office covered in sweat from the run, demanding that your policy be canceled, hold on a second...

    Why You Should Have Life Insurance

    While you don't NEED life insurance, I'm going to convince you that it's in your best interest to have it. The point of life insurance is that it gives your next of kin a payout if you die before you've saved enough money. The amounts vary, but the idea is that you pay a little, and get a lot should/when you pass away.

    Without insurance, there's always the chance that you could pass away before you have enough money saved; and the small amount of money that you pay for life insurance most likely won't affect your saving potential in the long run.

    And for you naysayers who are still convinced that you should put your life insurance money into savings instead, it's not easy to give your beneficiary access to your money in the bank.

    Although in movies, a will is read and that's all, in real life your savings goes through probate; so anyone who you or your estate owes money to gets paid first, until all your outstanding debts are paid off.

    Learn more about life insurance here
    If you would like to discuss your personal situation with a Gordon Atlantic Insurance professional, please call toll free 1-800-649-3252.  Prefer to type versus talk?  Click below!
    Life Quote    
    Geoff Gordon

    Tags: life, insurance, Business, cheap, saving

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