An Important Decision For You and Your Family
Life insurance can provide for paying your final expenses, probate costs, debts and medical expenses. It can be a type of financial inheritance to help your loved ones as beneficiaries during a difficult time. Life insurance can be a way to stay fiscally sound when one spouse passes away and the family needs to replace that income for security.
Helping In More Ways Than One
Life insurance can help to pay off debts and remain financially stable after the loss of a loved one. Life insurance can help to pay off estate taxes that are incurred in order to avoid risk of loss of property or other financial securities.
Which insurance policy is right for me?
We can provide you with all the details on each insurance, helping you to decide the best policy. Below explains what it is and how it works.
Whole Life Insurance
- Whole Life insurance is a popular choice, as it is a permanent insurance. It guarantees lifetime benefits and a cash value savings account for the insured.
- Your premium payments are always the same during the policy and any extra payments are valued into your cash value savings. This type of account also earns a fixed interest rate on the savings account.
Term Life Insurance
- Term Life insurance is a less expensive insurance option in that it gives you the coverage for a specified amount of time, and at a fixed rate. It pays only if the insured passes during the time of the policy- it is convertible to a permanent insurance should you choose to do so at the end of the policy term.
- It is useful to cover the debt incurred of the policy holder – so that your loved ones have final expenses taken care of in advance.
Universal Life Insurance
- Universal Life insurance is a flexible payment and flexible coverage insurance that is appealing to young people who will have many life changes in their future, such as starting a family.
- Cash value savings that accumulates
- Guaranteed death benefit
- Change policy premiums to raise the cash value, or to lower your premium and gain protection. As your life changes, this policy can provide some changes to suit your needs.
Indexed Universal Life Insurance
- Death benefits plus- includes the option for loans against the policy
Allocate cash to fixed or equity index account- stock indexes
- Tax benefits- tax deferred income tax on cash values
- Growth potential
- Premium payment flexibility