IT ISN'T JUST FOR YOU,
IT'S FOR THE ONES YOU LOVE.
LIFE INSURANCE IS A CONTRACT BETWEEN AN INSURANCE POLICY HOLDER AND AN INSURER, WHERE THE INSURER PROMISES TO PAY A DESIGNATED BENEFICIARY A SUM OF MONEY IN EXCHANGE FOR A PREMIUM, UPON THE DEATH OF THE INSURED. IT CAN BE USED TO HELP EASE THE FINANCIAL BURDEN OF YOUR DEATH. IT CAN SEND YOUR KIDS TO SCHOOL, PAY OFF THE HOME MORTGAGE TO ENSURE YOUR SPOUSE WON'T HAVE TO MOVE, AND SIMPLY HELP YOUR SPOUSE LIVE IN A COMFORTABLE LIFESTYLE.
Types of Life Insurance:
TERM INSURANCE PROVIDES LIFE INSURANCE FOR A SPECIFIED TERM, AND IS SIGNIFICANTLY LESS EXPENSIVE THAN AN EQUIVALENT PERMANENT POLICY. MANY TERM POLICIES CAN BE CONVERTED TO PERMANENT POLICIES AT A LATER DATE WITHOUT FURTHER MEDICAL UNDERWRITING.
WHOLE LIFE INSURANCE PROVIDES LIFETIME COVERAGE FOR A SET PREMIUM, WHERE THE PREMIUM WILL NEVER INCREASE. THE OWNER CAN ACCESS MONEY IN THE CASH VALUE THROUGH WITHDRAWING MONEY, BORROWING THE CASH VALUE, OR RECEIVING THE SURRENDER VALUE.
THIS PRODUCT IS INTENDED TO COMBINE PERMANENT INSURANCE COVERAGE WITH GREATER FLEXIBILITY IN PREMIUM PAYMENTS, ALONG WITH THE POTENTIAL FOR GREATER GROWTH OF CASH VALUES.
Term or Permanent Life Insurance: Which is Right for You?
Many people rely upon term insurance for more temporary coverage of certain needs, such as:
Income protection when household’s primary income-earner is younger
Having emergency money available should primary income-earner pass away
Financial protection to cover large or rapidly-increasing needs – for example, a fast-growing family, a loved one having special care needs, or other situations where needs may be outgrowing household income
A supplement for permanent coverage during years of high protection needs
On the other hand, permanent insurance may be a better-fitting option for more long-term goals. When structured properly in relation to other assets, permanent life insurance can also be used for retirement or lifelong financial objectives. The cash value component enables a number of functions, including:
Providing another tax-advantaged “bucket” to build up retirement money, in addition to 401(k), IRAs, or other retirement savings plans
Generating potentially tax-free income for retirement
Paying for college tuition or other costly educational expenses for loved ones
Paying off mortgage debt or other holdover debt at time you need it
Having money to put towards a rainy-day purchase
5 Reasons to Consider Final Expense Insurance
No Medical Exam
Accumulates Cash Value
Quick Payout (usually within 48 hours)
Leave Memories for Your Family (not bills)
3 REASONS WHY YOU SHOULD OWN DISABILITY INSURANCE
DISABILITY INSURANCE COULD ALSO BE CALLED INCOME PROTECTION!
MAINTAIN YOUR WAY OF LIFE
WHAT HAPPENS IF YOUR PAYCHECK STOPS? CAN YOU KEEP ENJOYING LIFE? MOST PEOPLE DO NOT HAVE THE MONEY TO KEEP LIVING AS THEY WANT TO WHILE THEY RECOVER. MANY LIVE PAYCHECK TO PAYCHECK.
BE INDEPENDENT AND NOT A BURDEN
YOU NEVER WANT TO BE A BURDEN. FAMILY MEMBERS HAVE FULL TIME JOBS, KIDS IN COLLEGE AND THEIR OWN HOUSEHOLD EXPENSES. THEY WILL TRY THEIR BEST TO HELP , BUT HOW MUCH HELP CAN THEY BE?
PAY YOUR MORTGAGE, RENT, UTILITIES AND OTHER BILLS WHILE YOU ARE RECOVERING
IF YOU DO NOT HAVE A LARGE SAVINGS ACCOUNT, YOU COULD LOSE YOUR HOME, SPOIL YOUR CREDIT OR EVEN WORRY ABOUT KEEPING YOUR UTILITIES ON. DISABILITY INSURANCE CAN BE YOUR ANSWER.