Healthcare Choices: Veteran Equity Investor Mark Hauser Details the Process of Selecting Life Insurance
Mark Hauser is a private equity expert and the leader behind Hauser Private Equity. With almost four decades of experience investing in private equity funds and equity-backed businesses, Hauser has developed the knowledge and skillset to share it with the world.
Focusing on the importance of financial planning and preparation, Mark Hauser delved into life insurance’s role in a complete financial portfolio. From life insurance to term insurance and signing up for the process in between, Hauser explored the industry to help his clients find the needed services.
Introducing Life Insurance as a Concept
Life insurance comes in two different forms: Term Life Insurance and Permanent Life Insurance. In either situation, policyholders work directly with insurance companies on a plan that, in return for regular premiums, will pay out the policyholder with a death benefit or face value upon their passing. An individual can be insured not just by themselves but also by their company, such as a CEO with a company life insurance policy.
Mark Hauser breaks down the two primary forms of life insurance coverage to better help his clients determine which one meets their needs.
- Term Life Insurance – Term life insurance is the most common life insurance policy available, and it is also the easiest to acquire. This insurance policy is typically active for a period ranging between 10 and 30 years. Upon the completion of the contract, the policyholder will sometimes have the option to transition to permanent insurance. Otherwise, a renewal will require the policyholder to pay higher premiums likely. When a policyholder passes on, their payout is passed to the benefactors listed in the contract.
- Permanent Life Insurance – This insurance requires a larger payment throughout the policy’s lifespan. Permanent life insurance offers exceptional coverage and can benefit individuals wanting to avoid rising premiums. Permanent life insurance policies are only null and void when the policyholder quits paying premiums or surrenders the policy to the company.
Advantages of Life Insurance For Individuals
Life insurance policies should only be purchased after taking the time to make an informed decision. Mark Hauser suggests that individuals take a more extended look at the proposed pros and cons outlined by Mark Hauser below before leaping into action.
A life insurance policy can replace lost income from an insured member while reducing financial and emotional stress on their family. With riders for loan privileges and tax-deferred appreciation, there is potential to save along the way.
Life insurance policies will always be more expensive for less-healthy applicants and older individuals. Additionally, applicants have to pass a m medical exam to get approved.