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NO PAYMENT LIFE INSURANCE?

Note that a typo? Supposedly, there are companies who pay your life insurance premium. What a deal, huh.

In this agreement, you apply for life insurance and agree to the vast majority of the death benefit to a third party company. It is an investment to them.

For example: You buy a $ 100,000 life insurance and at your death your beneficiary receives $ 50,000. In return, you pay no contributions. The company has been paying the premiums and the rest is death.

It is unclear whether any Department of Insurance approved such a scheme or an insurance policy for that matter. Normally there is interest to be insurable, which means someone has a vested interest in your death, other than simple possession of your life.

It is a way around the rules, if an insurance company or department of insurance does not approve this kind of relationship. All insured their recipients can a life after politics was. It is during the underwriting process, that the insurance company can say that can be a receiver.

You should have a succession planning attorney before agreeing to such a partnership. You need to find out whether this life under this agreement will affect you in any way when it comes to property taxes or in any way related.

For most of us, we have simply a low cost Arizona Term Life Insurance Plan. The measures are designed so that our loved ones in the event of our death.

For a low cost Arizona Term Life Insurance Quote, visit Arizona Term Life Insurance Quote

Gary Brown is principal owner of Choice Insurance of Arizona. He has been Arizona residents for life insurance, car insurance and home insurance for nearly 15 years. Find his website at PHOENIX LIFE INSURANCE

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