Life Insurance


Congratulations on making the crucial decision to safeguard your financial future with life insurance.


Why is life insurance essential?


If there are individuals who depend on you for financial support, life insurance serves as a vital safety net,

providing your family with peace of mind in the unfortunate event of your passing.


There are two primary types of life insurance to consider—Term Life Insurance and Permanent Life Insurance.

Image Term Life Insurance

TERM LIFE

Term Insurance pays a death benefit if you should die during the specified period of time , usually at cheaper premium costs

 

  • ​ It's designed for temporary circumstances

 

  • ​ Policy periods are generally 10, 15, 20 and 30 years

 

  • ​ Generally, tax-free death benefit for beneficiaries

 

  • Does not build Cash Value

 

Image Permanent Life Insurance

PERMANENT LIFE

Permanent Life insurance offers life long protection instead of a specific amount of time like term insurance

 

  • The cost is initially higher than term life, but becomes more cost effective as you age

 

  • It accumulates Cash Value on a tax-deferred basis

 

  • ​Cash Value can be accessed through loans and withdrawals

 

  • If you cancel your life policy, you get the accrued cash value (a surrender charge might be applicable)

 

A Word About Final Expense Life Insurance


Every day, families are faced with the difficult task of saying goodbye to loved ones, but we can take steps to help ensure that funeral costs

 and other final expenses will be covered when the time comes.


Unfortunately, many people think that Social Security or Veteran benefits will cover their final expense needs, but $255 from your Social

 Security Lump-Sum Death Benefit and/or a Veteran's Administration benefit of $700 is not going to pay for much. A typical funeral that

includes a casket and embalming carries a median cost of $8,508 and that's not including other expenses such as flowers, transportation

and obituary notices.

Quick Facts:

 

  • Final Expense Insurance is a Permanent Life Insurance policy
  • Two types if Final Expense insurance: Guaranteed issue and Simplified issue
  • It never expires as long as premiums are paid
  • The insured designates a primary beneficiary
  • Medical exams are not required--just a few medical questions to answer
  • Coverage amounts range from $5,000 to $50,000

 


Image Final Expense Insurance