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Life Insurance
Life Insurance Education & Enrollment
Life insurance may be one of the most important purchases you’ll ever make!
In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.
If you're considering or already on the path to securing your and your family’s financial future, feel free to schedule the life insurance consultation that best suits your current needs! We would be happy to review your current situation and offer a few ideas on how you can secure and enhance it!
Sharpening Your Financial Literacy
Understanding and taking advantage of Life Insurance
Our licensed life and health insurance agents specialize in the following:
Universal Life Insurance
- Universal Life is permanent insurance that has the potential to accumulate cash value. Since a Universal Life policy accrues cash value, you can borrow against this cash value for any purpose.
- A Universal Life policy also has the potential to earn a higher rate of return than a whole life policy, although there is a risk that your rate of return could drop.
Term Life Insurance
- This is life insurance that you pay for during a specified length of time or term – generally one to 30 years. You select the amount of the death benefit or face amount to meet your needs.
- Premiums, or payments, which can be the same amount or increase with time, must be made monthly, quarterly, semi-annually, or annually. Term insurance policies do not accumulate cash value and therefore usually offer lower premiums than other life insurance products with the same face value.
Whole Life Insurance
Whole Life Insurance is life insurance that you own for your entire lifetime. The amount of the death benefit or face amount can be selected to meet your needs.
Premiums, or payments, are fixed and can be paid monthly, quarterly, semi-annually, or annually. As more premiums are paid, your policy accumulates a cash value that grows on a tax deferred basis. In essence, whole life is like buying a house versus renting it. The monthly cost is higher than it would be for a term life policy, but with each payment you make you gain equity. You can borrow against a Whole Life policy for any purpose. Loans, however, require you to pay interest and any borrowed amount you do not pay back is deducted from the payout to your beneficiary at the time of your death.
Final Expense Insurance
This is life insurance that helps provide the money they may need to pay medical bills, funeral expenses, legal fees or unpaid bills. It is an insurance policy that lets you decide how your assets are distributed.
Frequently Asked Questions
- Co-signed debt, including student loans
- Mortgages
- College expenses for children
- Living expenses for your family
- Burial Expenses
- Loans from family members
- Estate taxes that your heirs must pay for other assets
Technically your beneficiary isn’t required to do anything to receive your policy’s death benefit, but it’s good idea to make sure he/she is aware that the policy exists in case there are any delays or complications on the insurer’s side.
You can use your permanent policy’s cash value as collateral to take out life insurance loans, but if you don’t repay them, you could lose all or a portion of your coverage.
Schedule your free consultation below, or call us at (904) 330-4051
One of our associates will be happy to assist you!
Schedule Your Free Consultation
Please take a quick moment to schedule the Life Insurance Consultation (Individual Life, Family Life, or Final Expense) that best suits your needs below.
Universal Life Insurance
- Universal Life is permanent insurance that has the potential to accumulate cash value. Since a Universal Life policy accrues cash value, you can borrow against this cash value for any purpose.
- A Universal Life policy also has the potential to earn a higher rate of return than a whole life policy, although there is a risk that your rate of return could drop.
Term Life Insurance
- This is life insurance that you pay for during a specified length of time or term – generally one to 30 years. You select the amount of the death benefit or face amount to meet your needs.
- Premiums, or payments, which can be the same amount or increase with time, must be made monthly, quarterly, semi-annually, or annually. Term insurance policies do not accumulate cash value and therefore usually offer lower premiums than other life insurance products with the same face value.
Whole Life Insurance
Whole Life Insurance is life insurance that you own for your entire lifetime. The amount of the death benefit or face amount can be selected to meet your needs.
Premiums, or payments, are fixed and can be paid monthly, quarterly, semi-annually, or annually. As more premiums are paid, your policy accumulates a cash value that grows on a tax deferred basis. In essence, whole life is like buying a house versus renting it. The monthly cost is higher than it would be for a term life policy, but with each payment you make you gain equity. You can borrow against a Whole Life policy for any purpose. Loans, however, require you to pay interest and any borrowed amount you do not pay back is deducted from the payout to your beneficiary at the time of your death.
Final Expense Insurance
This is life insurance that helps provide the money they may need to pay medical bills, funeral expenses, legal fees or unpaid bills. It is an insurance policy that lets you decide how your assets are distributed.
Schedule Your Free Consultation
Please take a quick moment to schedule the Life Insurance Consultation (Individual Life, Family Life, or Final Expense) that best suits your needs below.
