Sometimes, I’ll have CNBC, Yahoo! Finance, or some other news channel on here in the office, and invariably, the Colonial Penn 995 Plan commercial comes on.
You know the one. Before his death, Alex Trebek was the spokesperson for the Colonial Penn 995 Plan. Now, an employee named Jonathan Lawson is.
Yes, I know the one, John! I’ve seen the Colonial Penn commercials. He says my plan will only cost $9.95 per month!
Well, yes, that is partly true.
But, it’s not the entire story.
In fact, if you don’t know the whole story, you may end up with the wrong plan. If so, you will have spent your hard-earned (likely fixed-income) money on something that isn’t right for you.
You don’t want that to happen, do you?
Loans have been a common lending solution for many small business owners. One common loan program is the small business loan program administered by the US Small Business Administration (SBA). In many cases, SBA lenders require borrowers to secure life insurance to cover the SBA loans.
Truck drivers probably don’t think about disability insurance much, right?
Are you looking for a $10,000 whole life insurance policy? Many options exist; however, you want to ensure you purchase the right type of policy.