Safeguard your family’s future with the right life insurance policy.
You don't need to risk your family's future. Having the right life insurance is essential in planning for the future of you and your loved ones.
We can help you find the right life insurance policy that in the unlikely event of your's or your spouse's death, ensures that your family is secure for years to come.
Keep things current. Life Changes. So Should Your Policy
As your life changes, your life insurance coverage may need to be updated in order to provide for your current needs.
Some life changes that may require a policy tune-up include:
- Recently married or divorced
- A new child or grandchild
- A new or expanded a business
- Your health or your spouse’s health has deteriorated
- You are providing care or financial assistance to a parent
- You recently purchased a new home
- You are planning for a child or grandchild’s education
- You are concerned about retirement income
- Your child or grandchild requires assistance or long-term care
- You have refinanced your home mortgage in the past six months
- You or your spouse recently received an inheritance
- You have a sizable estate
Common Types of Life Insurance
There are several different types of life insurance policies available — the most common include the following:
- Term Life Insurance
Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than whole life insurance and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
- Whole Life Insurance
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. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
- Universal Life Insurance
Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts, and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically but is usually guaranteed not to fall below a certain percentage.
Advantages of Life Insurance
Not only can life insurance provide assurance for your family after you are gone, but many life insurance options also offer other benefits and investment opportunities you can take advantage of while you are living.
Advantages of the life insurance death benefit: When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
Advantages of Living Benefits: The cash value growth of a whole life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.