Life Insurance

What do you love about your life? Your partner, your children, all your loved once!

 

If all goes according to plan, you’ll pay off the mortgage, put your kids through college and enjoy a long retirement. But the unexpected could happen — do you want to protect your family’s future if they must go on without you? Life insurance may help lighten their financial burden.

 

We can show you a number of coverage options you can tailor to your priorities and budget. In fact, life insurance plans may be more affordable than you might think.

 

Types of life insurance - each has unique characteristics:

 

Term Life Insurance

Term life is a type of life insurance policy where premiums remain level for a specified period of time —generally for 10, 20 or 30 years. After the end of the level premium period, premiums will generally increase. Coverage continues as long as the premiums are paid. This is most affordable coverage, this is an option you may want to consider when you’re on a more limited budget. Also you can often pay a lower premium when you select a shorter term — such as, 10 years instead of 20. But since premiums are based on risk of death, once you are outside of the level premium period, a term life policy generally gets more expensive as you grow older.

 

Whole Life Insurance

Whole life is permanent insurance — you’re insured throughout your lifetime, or until the policy matures, as long as you continue to pay your premiums per terms of the contract. The premiums will stay level as long as the policy remains in force. Over time, permanent insurance typically accumulates a cash value that can be accessed for a variety of purposes while you’re still alive.

 

Universal Life Insurance

Like whole life, universal life is permanent insurance that may also accumulate a cash value. But it offers more flexibility than Whole Life Insurance. You can tailor a policy to meet changing priorities with flexible premiums and face amounts. Universal life also offers you more control over how quickly your cash value grows.

 

What’s the best coverage for you?

When it comes to life insurance, there’s no such thing as “one size fits all.” Everyone has different needs, goals and financial considerations. That’s why coverage comes in a variety of forms, with a range of features you can tailor to your unique situation:

 

Life Insurance Considerations:

1. Your family is young and growing, so you may be juggling a mortgage, auto loans and childcare costs. While your expenses may continue to expand over time, you may want an affordable life insurance policy that helps you plan for your family’s financial future until the kids are grown and the house is paid off.

2. You’re more established in life. In addition to providing a death benefit to your beneficiaries, you may leverage the loan or partial surrender features of certain policies to help support things like supplemental retirement income, caring for a family member with a disability or preparing for eventual estate taxes.

3. You’re single and have no children. The death benefit proceeds from your life insurance policy may help support obligations such as the costs of your personal debts, medical bills or final expenses — and may also help leave a legacy to someone you love or a favorite charity.

 

Please contact us we can explain your options, along with information about riders such as:

• Disability riders that may help pay your policy’s premiums, and may supplement your lost income, if you’re disabled.

• An accelerated death benefit rider that lets you collect a portion of the policy’s death benefit if you become terminally ill with a short life expectancy.

• A critical illness rider that pays a lump sum to you if you’re diagnosed with one of several specified critical illnesses such as cancer, heart attack or stroke.