Life Insurance

  • Life Insurance:  Deciding what type of life insurance to buy can be a big decision.  We offer a variety of insurance products such as whole, term, universal and indexed life to fit your specific needs, and we will guide you in your decision.  We prefer to prepare a needs based assessment to be sure we know the total coverage needed.
    • Term Life - no cash value, provides death benefit protection to insurred beneficiaries within a specific term of coverage only. Premiums increase over time based on age and health.
    • Whole Life - cash value insurance which fixed premiums paid for an agreed period of time. Policies may have an increasing death benefit, a level death benefit but all have cash values availble to the policy owner.
    • IUL policies - cash value insurance policies similar to whole life where premiums are generally fixed. Policies may be built to provide period to increase cash values without market risks of principal and then allow for policy owner use of cash value for a variety of uses. Generally uses of the cash value are done so tax free.
  • Life Insurance Riders:   Many insurance copanies have developed riders, or add ons, to the life insurance policies. Examples include long term care rider which provides some additional long term care coverage for the owner. Other riders include disability income rider, guaranteed insurability rider, term conversion rider, accelerated death benefit rider, critical illness rider, child protection rider, accidential death benefit rider, waiver of premium rider,  Specific coverages of each rider is defined by each of the insurance companies. Not all insurance companies offer riders on all or any of their policies.  We offer a variety of insurance products designed to fit your needs.We will help educate you on all of the options available and that fit into your plans and needs. We will also look to find all discounts that you qualify for.
  • Other Insurance:  Disability Insurance  - Plan to protect yourself and your family in the event of a lengthy illness or permanent disability.  We will show you these valuable plans which are surprisingly affordable.  Disability coverage should be a key component of your overall protection. Long Term Care Insurance may also be helpful to review for those individuals and couple that have a larger estate that require protection. We have specialist to assist us in these situations to ensure that our clients obtain the right coverage to protect their specific needs.

 

Here's an example of what we can do for you:

Joe has a whole life insurance policy with a death benefit of $80,000 and cash value of $25,000.  He would like a policy with a larger death benefit and the option to borrow money from the policy for his daughter's college tuition.

     The Solution:

We were able to roll the cash value of the existing policy into a new whole life policy.  By utilizing the cash value of the old policy, Joe will have a new policy with a $160,000 death benefit plus cash value.  An additional benefit is that Joe will be able to borrow against the policy if needed.