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Life Insurance

Understanding your needs and going over all your options is the best way to get the coverage you need. People purchase life Insurance for different reasons understanding those reasons and finding the policy that gives you the benefits you want at the right price is what we do. We offer everything from Term coverage to Indexed Universal life and everything in between.

Term Life

Typically gives the most bang for your buck with the most affordable premium payments  Great coverage for a specific period of time.

Permanent Life

Gives you a guaranteed payout no matter what age you are or when you pass away, as long as you keep paying your premiums.

Final Expense

Offers more affordable premium payments and is designed for final expenses, such as medical bills, funeral costs, etc.

Life insurance is your families financial safety net

Life Insurance can help your family maintain the lifestyle they’ve grown to love and provide longer-lasting financial security. Your family can use it to help pay for funeral expenses, housing costs, medical bills not covered by health insurance, children’s and Grandchildren’s college expenses,  Long-term care needs, debts and just about anything else they may need.

Simply put: The Right life insurance policy can remove many of your financial worries. Just get a life insurance quote today, check these worries off your list and your family could be better protected.

If you wish to leave a legacy behind for your family, life insurance is an important consideration. Term life provides an affordable way to ensure your family can continue making ends meets. Because this is the most basic type of coverage, it’s easy for many to fit it into their budgets. And you’ll pay the same rate for your entire term, regardless of waning health.

Most insurance providers allow you to select a term of one to 30 years, giving you the option to lock in your rate for longer. When you renew a term life  policy, your new rate is recalculated based on your current health and other factors some companies offer renewal based on health at the time of your original application this is a great feature many people do not know about. For these reasons many people lock in their rate for longer terms.

Term policies typically have maximum issue ages. If you’re past age 80, you’ll have a hard time getting term insurance. Term Insurance does not accumulate cash value, so there is no withdraws and can’t borrow money against the policy.

A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against.

BREAKING DOWN ‘Whole Life Insurance Policy’

As the most basic form of cash-value life insurance, whole life is a way to accumulate wealth.  Regular premiums pay insurance costs and contribute to equity growth in a savings account so therefor dividends or interest is allowed to build-up tax-deferred.

A type of flexible permanent life insurance offering the low-cost protection of term life as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder’s circumstances change. In addition, unlike whole life, universal life insurance allows the policyholder to use the interest from his or her accumulated savings to help pay premiums.

BREAKING DOWN ‘Universal Life ‘

Universal life was created to provide more flexibility than whole life insurance. So this allows the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings.  This allows the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.

Indexed universal life is a lot like universal life, however it does have a couple of wrinkles not found in traditional universal insurance policies. Universal life comes in many different forms, from your basic fixed-rate policy to variable models that allow the policy holder to select various equity accounts in which they can invest. An indexed universal life insurance policy gives the policy holder the opportunity to allocate cash value amounts to either a fixed account or an equity index account. Indexed policies offer a variety of popular indexes to choose from, such as the S&P 500 and the Nasdaq 100.

Flexibility and Customization

Indexed policies allow policy holders to decide the percentage of their funds that they wish to allocate to fixed and indexed portions. Also, these types of universal policies typically guarantee the principal amount in the indexed portion, but cap the maximum return that a policy holder can receive in said account. Since these policies are seen as a “hybrid” universal life insurance policy, they are usually not very expensive (due to lack of management), and are safer than an average variable universal life policy. However, the upside potential is also limited when compared to variable policies.

This type of life insurance does not have a strict definition across the industry. Final expense life insurance is any life insurance product intended for use in paying off final expenses (funeral, medical, etc.) and generally ranges from $5,000 to $50,000 (depending on state Limits) in whole life insurance coverage.

In truth, any person can use any life insurance product he or she chooses to pay off final expenses. And any policy marketed as a “final expense” life insurance policy can be used for any purpose, so there’s no rule that constrains use of the death benefit to only final expenses.

Nevertheless, final expense life insurance are generally better suited to handling solely final expenses. They tend to be cheap and offer relatively small death benefits. Some are permanent life insurance, and some are term life insurance products.

Exams?

Often, final expense insurance products are non-medical issue, so insurers require no medical exam to approve coverage. This is useful for clients who are ill and so have reason to expect their death within a very few years. If they don’t have the money on hand to pay for their final affairs a Final expense may be the best option. The most economical solution in simplified issue, guaranteed issue, or graded benefit life insurance.

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Life Insurance Needs Calculator

This is strictly for estimating your amount of life Insurance you need. for a quote please contact us.