Life Insurance
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Life insurance will help take care of your family in case you should die prematurely. While life insurance can be complex, I will help you determine the type and amount that fits the needs of your family considering expenses like your mortgage balance, outstanding debt, and children’s education.
Purchase your life insurance policy early in life, live a healthy lifestyle, and guarantee yourself some of the best rates available.
Term life insurance policies provide affordable protection for a predetermined period of time. It is a very popular option because it provides insurance coverage at the stage of life you need it most, yet have the least amount of money to spend on it.Benefits of term life insurance:
- Affordable
- Level premiums throughout the term selected
- Guaranteed coverage for the amount selected throughout the term
- Convertible to a whole or universal policy without needing a physical exam or other further evidence of insurability if your needs change
- Renewable in one-year increments with gradually increasing premiums and no need for a physical exam or further evidence of insurability when the term policy expires
Unlike a term life policy, a whole life policy protects you for as long as you live. Plus, your whole life policy builds cash value and the death benefit is tax free.Benefits of whole life insurance:
- Permanent coverage for as long as you live
- Level premiums
- Death benefit is income tax free to your beneficiaries*
- May be paid up before you retire and are on a fixed income
- Lower premium policy option that you pay throughout your life
- Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions
*We cannot give tax advice. See a tax advisor for more details.
Universal life policies are flexible and allow you to adjust the amount of life insurance to keep pace with your current lifestyle. Plus, you can even adjust the amount and frequency of the premiums you pay, even skip payments if necessary.Universal life shares some of the same benefits of a whole life policy:
- Permanent coverage for as long as you live
- Death benefit is income tax free to your beneficiaries*
- Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions
Additional benefits of universal life insurance:
- Withdraw funds from the policy if you meet certain conditions
- Offers a level death benefit or an increasing death benefit depending on your needs
- Offers a special guaranteed minimum interest rate. Any amount that you pay in excess of the amount required to maintain your life policy earns a guaranteed minimum interest rate in a conservative account, similar to a savings account, and builds your cash value