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What is whole Life Insurance?
Universal Life insurance provides flexibility
Term life an affordable option
Whole life insurance helps your family prepare for the unexpected. The guaranteed death benefit can help replace a family's loss of income, help with mortgage costs, or educational needs — or to leave a legacy for the next generation. Over time, these policies build cash value that grows tax-free. This “living benefit” can be accessed during your lifetime.
Term life an affordable option
Universal Life insurance provides flexibility
Term life an affordable option
Term life insurance provides death protection for a stated time period, or term. Since it can be purchased in large amounts for a relatively small initial premium, it is well suited for short-range goals such as coverage to pay off a loan or providing extra protection during the child-raising years.
Universal Life insurance provides flexibility
Universal Life insurance provides flexibility
Universal Life insurance provides flexibility
If seeking a flexible way to help protect your loved ones and build tax-deferred cash value, a Universal Life policy may be what you need. While this flexible permanent protection is ideal for those potentially seeking to adjust coverage and premiums to meet changing needs, it can be structured as a Survivorship or Joint policy.
The role of annuities in a retirement portfolio
An annuity is a contract with an insurance company that is specifically designed for retirement purposes. When you purchase an annuity, you make a payment to an insurance company, that, in turn, agrees to pay out an income stream or a lump-sum amount at a future date. When used as part of your retirement portfolio, an annuity may provide you:
- Lifetime Income: Annuities are designed to deliver a predictable income stream that you can use to help cover your living expenses.
- Downside Protection: Annuities may help protect you from down markets with full or partial guarantees on your principal, backed by the issuing insurance company.
- Tax Efficiency: Annuities allow you to accumulate assets that can grow in a tax deferred manner, potentially helping you accumulate more assets to fund your retirement lifestyle.
Long Term Care (LTC)
Protect your wealth from the cost associated with a long-term health care event. Long-term care can be as simple as assistance with a range of daily living tasks such as walking, eating, and bathing. In other instances, long-term care may mean sustained treatment for cognitive conditions, like Alzheimer’s. While a short-term need for help or a limited visit to a rehabilitation facility will generally be covered by Medicare or traditional health insurance policies, a long-term care event is usually not covered and can have significant impact on your family. Therefore, it’s important to think about the many questions that will have to be answered before you face a long-term care need: Who will be your primary caregiver? Where do you want to receive care? And how will your health and care needs impact on your family and your finances?
Top 10 Reasons to get Long Term Care Insurance
1. To Protect Assets
2. To Relieve Burden on Family
3. To Get High Quality Care
4. To Choose Care and Provider
5. To Stay at Home
6. To Enjoy Peace of Mind
7. To Have a Plan for The Future
8. To Maintain Independence
9. To Leave a Legacy
10. To preserve Quality of Life
Disability Insurance
Additional Information
Protect your family or business against lost income due to an illness or injury that prevents you or a key employee of your business from working. Disability income insurance is a type of insurance product designed to help replace a major portion of your income if you were unable to work because of an illness or injury. For this reason, many people think of it as “paycheck protection.” Along with life insurance, disability insurance can offer the protection you need to ensure your family doesn’t lose their home or other valuable assets if the unthinkable happens.
Life Insurance Comparisons
Difference between accidental death & dismemberment vs life insurance?
Difference between accidental death & dismemberment vs life insurance?
Difference between accidental death & dismemberment vs life insurance?
Life insurance pays death benefits regardless of the cause, while accidental death and dismemberment policies only cover specific accidents or dismemberment.
Life Insurance versus pension: which is best?
Difference between accidental death & dismemberment vs life insurance?
Difference between accidental death & dismemberment vs life insurance?
Life insurance pays a cash death benefit to beneficiaries and can include a retirement savings component, while pensions provide retirement income and may continue for beneficiaries. Both can be valuable financial protections.
Mortgage protection insurance vs. private mortgage insurance
Difference between accidental death & dismemberment vs life insurance?
Mortgage protection insurance vs. private mortgage insurance
Private mortgage insurance (PMI) safeguards your mortgage lender in case of loan default, often required for low down payment home purchases. Mortgage protection insurance protects your loved ones by covering mortgage payments if you die, become ill, or disabled and can't make payments.
How does life insurance work when someone dies?
Life insurance policies pay death benefits regardless of the cause of death, with exclusions for early policy suicide, while accidental death and dismemberment policies only pay benefits for covered accidents or dismemberment.
How Do you select a beneficiary for your life insurance policy?
When applying for life insurance, choose one or more beneficiaries to receive the death benefit if you pass away. Spouses or partners are commonly named as primary beneficiaries, with secondary beneficiaries named as backups. Consult your agent to ensure your beneficiary designations reflect your wishes.
How does someone know if they are the beneficiary of a life insurance policy?
How does someone know if they are the beneficiary of a life insurance policy?
Insurance companies must fulfill their obligations by paying death benefits to named beneficiaries according to life insurance contracts. Beneficiaries may initiate the claims process or contact the insurer if they are aware of the policy. In some cases, insurers proactively search for beneficiaries. To ensure smooth benefit payment, provide up-to-date beneficiary contact information when purchasing a policy.
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