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Life Insurance
With hard work and careful planning during your income-earning years, you may have built a healthy nest egg, sufficient to ensure a comfortable, independent retirement. You may actually be in the enviable position of being able to leave something to those you love the most: your spouse, children, grandchildren, and perhaps your favorite charities. Now's the time to seize the moment and put together a plan that creates a legacy and builds generational wealth for those you love.
We'll educate you, so you can learn about the different types of Life Insurance, then make an informed decision about what feels right to you and your plan.
Types of Life Insurance
Term Insurance provides life insurance protection for a specified period of time. Term life is sometimes convertible to permanent coverage, providing you with flexibility as your needs change. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
Contact us to set up a free consultation, or click here for a free quote or apply for coverage without medical underwriting.
Whole Life Insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Permanent life insurance accumulates cash value and is priced to allow you to keep it over a long period of time.
It will take care of your family or business if you die too soon. It will take care of you if you live long. It can provide a substantial income stream by using the accumulated cash values. Even better, this income can be paid income-tax-free. Taxable income would require 20 percent to 40 percent higher payouts to provide the same “net” income.
Universal Life Insurance is a form of permanent life insurance characterized by its flexible premiums, face amounts, and unbundled pricing structure. The savings element, premiums, and death benefit can be reviewed and altered as a policyholder’s circumstances change.
Index Universal Life (IUL) is a life insurance policy designed to offer both protection and growth potential. Here's how it works:
- Life Insurance: It provides a death benefit for your loved ones if you pass away.
- Cash Value Growth: Your policy's cash value can grow based on a market index, like the S&P 500, with the added benefit of a guaranteed minimum return. This means you can benefit from market upswings while having a safety net during downturns.
- Flexibility: You can adjust your premiums within limits to fit your budget.
Think of it as this: IUL offers life insurance coverage with a chance to grow your money based on the market but with a buffer against market losses.