Life Insurance
There are only two categories of life insurance plans.
Term Life Insurance
There are only two categories of life insurance plans.
Will your family need to pay off a mortgage, car loan or other debt?
Calculate your outstanding debt that your surviving spouse and children would be responsible for in the event of your death.
Do you have the liquid resources to cover funeral expenses within 3-5 days of your death?
Final expenses include funeral costs, unpaid medical bills, and expenses that occurred due to your death.
The average cost of a funeral is $12,000-$15,000 depending on where you live. Historically, funeral costs have doubled every 20 years.
Will your family need to replace your income?
Multiply your annual income by 2-3 years. Stay-at-home parents should calculate child care expenses that would be required if the care provider spouse dies.
Do you have $36,436 per year per child to attend college?
That's $145,744 for a four-year college tuition and expenses.
What about unexpected emergencies and other expenses?
Extracurricular activities for your children; Future car purchases for your spouse and children.
Don't worry! Your won't be quizzed on this information, but our licensed agents are required to know the difference in all of these policies variations.
If you are interested in knowing some key features and differences in the types of life policies we offer, read on.
Rather than overwhelming you with too much information, you can call and speak to our agents. The agent will do a Needs Assessment with you to determine if these products will interest you and aline with your coverage goals.
Term Life Insurance provides a death benefit for a limited period of time. Term Life insurance policies are often sold in 10, 20 and 30 year coverage periods. It is very important that you understand that the policy will terminate. Some policies have wording that allows you to renew or convert your policy to whole life. Term Life policies can include riders that have return of premium benefits that pay you back the money you paid in WITHOUT interest. Term policies are great to have as layers to other policies. Raising a family is expensive for 20-25 years. Term Life can be budget-friendly for that period of time.
Depending on your age and health status, there are multiple types of policies that will cover your whole life. Simplified Issue, Guaranteed Issue and Paid Up Policies. Basically they provide your beneficiaries with your final expense coverage and can be built to provide more that you can access the benefits while you are alive. Whole Life policies often have policy RIDERS that provide specific features like waiver of liability, child riders, accidental death, accelerated death and so many more.
Universal Life is a type of Permanent Life insurance that protects your whole life, you pay a monthly fee that splits into two parts: One covers life insurance and the other goes into savings and investment. It's meant to be more flexible by allowing you, the policy holder, to choose how much premium you pay within a certain range. These policies often have riders or additional benefits that can be added on to protect you and your family from financial hardship.
Indexed Universal Life and Variable Universal Life policies can be a great way to build wealth today and wealth for your legacy.
Protect your hard-earned savings and ensure a steady income during your retirement with our investment annuity products. Annuities often require a large initial payment to invest. Typically annuities should be started after you have reached an age when you are ready to protect your money from risky investments (50 years old is a good rule of thumb.) Annuities generate interest and grow by compounding the interest. There are timeframes set by the insurance company that limit your access to your money. They institute limitations on the amount of money that can be borrowed from the annuity. It is very important you talk with one of our knowledgeable agents to make sure you invest your money into the right annuity.
Mortgage Protection is an affordable life insurance that covers your mortgage payments. Buying a home is a major financial commitment. Depending on the loan you choose, you might be committing to 15-30 years of mortgage payments. Some Mortgage Protection policies require proof of a mortgage. These policies are meant to pay off your mortgage when you die. It is important to make sure your family has a place to live. Some of these policies have riders that can be beneficial like return of premium once the policy terminates. Waiver of premium riders are a valuable addition for Mortgage Protection. It will pay your premium in the event you become disabled.
At some point in our life, we will be in our golden years. As Americans, we enjoy the benefit of Social Security Income when we become aged or disabled. Many senior citizens live on a dual fixed income only coming from Social Security. Income protection is important when you are no longer able to work. Protect your spouse after you die...your spouse will only get to keep the larger of the two monthly Social Security payments and the remaining smaller payment goes away. This could be the difference of losing up to 50% of your income when you need it the most.
Explore our range of IUL investment products that can help you secure your financial future, provide a Tax-Free retirement, while having access to your money while it grows. If you have heard about INFINITE Banking, this is the product you need to learn about.
An ADB is a life insurance policy add-on or RIDER that allows you to access your policy's death benefit before you die if you're diagnosed with a qualifying serious illness. If you are predisposed to cancer, stroke or Alheimezer's Disease, make sure your policy is set up to advance 50-90% of your death benefit before you pass.
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