 Mintco Financial helps SEARS retirees to convert their Life Insurance PoliciesMintco Financial helps SEARS retirees to convert their Life Insurance Policies. SEARS has ended life insurance benefits for eligible retirees, one of the final links to the days when the company promised generous benefits to take care of its workers.
By: Mintco Financial The life insurance benefits were canceled March 15, though some retirees didn't receive letters notifying them of the change until after that date, said Ron Olbrysh, chairman of the National Association of Retired Sears Employees. Retirees can convert all or part of their group life insurance policies to individual whole life policies and pay the premiums, according to the letter sent to retirees. f you have a term insurance policy and your conversion expiration date is approaching and you want to be insured for a longer period of time, you have two options: convert to a permanent policy or buy a new policy. If you are still as healthy as you were when you took out the policy (or maybe healthier now?), you may want to investigate the cost of a new policy versus converting into a permanent one. With a new term policy, you won't have access to accumulating cash values like permanent policies offer, but you can be insured for another term at a significantly lower cost compared to permanent insurance. However, if your health has deteriorated even in the slightest, you are an ideal candidate for converting. Getting help If you need help understanding the merits of converting a group life insurance policy, look for a financial advisor or life insurance agent that understands insurance conversions. It's also important to look for a life insurance broker instead of a captive life insurance agent. Insurance brokers will shop the market for the best products and the best price. Brokers are more likely to act in your best interest that an agent that just sells one companies products. Mintco Financial helps SEARS retirees to convert their Life Insurance Policies There are many things to take into account when purchasing life insurance, and changes in your life situation can reflect changes in your insurance requirements. That's why it's important to carefully consider the different policy options and ensure that you have the right solution to meet your long-term life insurance needs. An insurance specialist with Mintco Financial will review your current life insurance situation and help you design a policy to plan for the future. At the end of the day, one of the biggest investments you can make is an investment in yourself. Call us at 813-964-7100 or 716-565-1300 Email us info@mintcofinancial.com www.MintcoFinancial.com End
|
|
Account Phone Number