life Insurance

Insurance that covers

what is life insurance?

Life Insurance can be one of the most difficult insurance coverages to discuss with your insurance agent. Typically when one thinks about Life Insurance, they have experienced a loss or have seen someone else lose a loved one, friend or company owner. A recent survey showed that 9 in 10 Americans agree that most people need Life Insurance, but the truth is just 60% said they have it. Another survey states 86% of Americans haven’t purchased Life Insurance because it’s too expensive, yet those same people over estimated its true cost by 2 times its actual expense.

Life Insurance can fund many expenses such as, funeral cost, mortgage, car loans, taxes, estate cost and credit card debit. It is often used toward future or upcoming expenses such as clothing, food, utilities, housing, college and retirement.

types of life insurance

Term Life insurance coverage

Term Life Insurance Policies are designed to provide coverage for a specific time frame – 5, 10, 15, 20, and 30 year policy terms are common. They are usually written because of price and to meet a time obligation such as a mortgage, student loan, key man, buy-sell agreements or other personal or business debts.

Permanant whole life insurance coverage

With Whole Life Policies, the premiums remain the same for the life of the policy and the death benefit and the value rate on your cash value are guaranteed.

Permanent Universal life insurance coverage

Universal Life Insurance characteristics are made up of flexible premiums, face/coverage amounts, and pricing structures. Universal Life can build cash value, which does earn an interest rate that can vary overtime, and it’s usually guaranteed not to fall below a certain rate.

long-term care insurance coverage

Long-Term Care Insurance is a way to cover the costs of care when you have a chronic medical condition, a disability or a disorder such as Alzheimer’s disease. Buying Long-Term Care Insurance is a way to prepare for that stage in your life that you need help taking care of yourself. Without having to put that financial, physical, and emotional burden on your family you can protect yourself with a Long-Term Care Policy. This policy is thought to be just for the elderly but it has advantages the younger you purchase this policy, such as lower premiums and guaranteed insurability.

disability insurance coverage

Disability Insurance is another coverage designed to protect you in the event you are unable to work. In the US today, 50% of Americans couldn’t meet their expenses after just one month without a paycheck. Disability Insurance acts as a policy to insure your paycheck. This coverage is to cover you in the event you are unable to work because of illness or injury. There are two types of Disability Policies, short term and long term. Typically, the number of days you have for the waiting period (deductible) for the coverage to kick in and start paying determines which coverage you have. You can buy this coverage as an individual as well.

ways to purchase life insurance

The three ways to purchase Life Insurance are direct, through work and an insurance agent. There are advantages and disadvantages to the way you purchase Life Insurance and how your situation can affect your desired needs/coverages. Unless you are well versed in insurance, it’s typically best for you and your family to speak with an insurance agent. We can guide and assist you throughout the process by making sure you understand all the coverages and then offering you Life Insurance Coverages to meet your specific needs.

Did you know?

One thing that’s important to consider when considering Life Insurance is the fact that the younger you are when purchasing the coverage, the more affordable it usually is.

What we can do for you

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