Due to these Manulife Vitality factors most life insurance agents don't make it. You see, it's far easier to pass the tests and get qualified as an agent than it is to actually do the selling--regardless of how great your company training program is.
This is the hardest one TOTAL after tax MONTHLY SPOUSE's JOB PAYCHECK part time SPOUSE's MONTHLY pension type income net after taxes YOUR MONTHLY JOB income part time OTHER MONTHLY INCOME from an Annuity Mutual Fund IRA or any other family member who will contribute MONTHLY income to your household ADD UP THESE MONTHLY INCOMES MONTHLY TOTAL expected Manulife Vitality Plan next years or years if close to retirement)?
One program to consider is called Lease To Own. You simply rent a house with the intention of ultimately buying it. A portion of your monthly payment is put into an escrow account. At the end of the lease term, you can offer to buy the property and use the escrow and earnest money against the offer. The seller is at risk because the buyer could walk away in the end without buying anything. However, agreements have been written in which the seller keeps the escrow and earnest money if the "buyer" does walk away.
Let's go back to observe and decode. What do they say about Pyramid Schemes? "Only people at the top make lots of money". What does the corporate structure chart of your company look like? How much does the CEO earn a year compared to you? What does the organization chart of your church look like? How about the Girl Scouts organization or any Manulife Vitality health program large non profit organization? All corporate structures look like a pyramid where the person on top gets the biggest salary for all your work effort. Hmmm?
In trying to find out the value of your home (which fact would determine to a large extent your rate), you should note that it is very possible to be over covered just as it is to be under covered. So you have to be careful not to run from one to the other. You would certainly be over covered if your home is covered for the cost of purchase. Your home should be covered for the current rebuild cost of the building. Your purchase price includes the cost of the land on which the home was built thereby adding some significant amount that would have same impact on your premium.
This family's example we shows 18 years of income need. Insurance companies usually don't have an 18-year level term product. Usually, they will offer ten, fifteen or twenty year terms policies. In this example, we would recommend buying either a 15-year or 20-year level term insurance policy. Decide which one to buy based on your own analysis of your family's needs. Your final analysis will determine the length of time you will need this insurance.
But it's not all about the cash value rate of return. What about the rate of return on the death benefit? Like I mentioned earlier, this issue is far too complex to cover all the points here!