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Family Planning

Term Life Insurance

Term Life insurance is the most affordable and straightforward form of protection. It covers you for a specific number of years  at a fixed rate guaranteeing  the death benefit. It offers the most coverage per dollar when compared to other types of insurance policies. Most policies sold today will also pay up to 70% of the death benefit up front while a person is still alive if a critical illness presents itself during the term choosen. It can also be modified through different riders to return all of the premium paid at the end of the term or include children coverage to protect your family even further. 

Reasons to consider purchasing term life insurance:

  • Loss Income Replacement

  • Short and Long Term Debts

  • Supplement a Work Policy

  • Charity

  • Mortage Protection

Right now, a healthy non smoking 30 year old woman can purchase $250,000 coverage for a term of 30 years for as little as $20.43 per month.*

*This quote assumes no other risk applies such as driving violations, family history complications, etc.

Joint Life Insurance

Joint life insurance is a great option to consider when purchasing life insurance. It is a convenient way to cover two people on the same policy. Here are the two options that are available:

First to die life insurance policy: this policy pays the first to die on the police, protecting the survivor. For example if a husband and wife are covered on this type of policy, with a death benefit of $300,000, and something happens to the husband, the wife would receive $300,000.

 

Second to die life insurance policy(Survivorship Insurance): this policy pays only after both persons insured pass away. This protects the heirs in estate planning.

Children's Life Insurance

Children usually do not have an income to replace therefore purchasing small cost policy with a small death benefit(around  $10,000 or more) is a good place to start. A "child rider" may be included in policy to cover this risk. If not a separate policy may be purchased with great benefits such as guaranteed insurability as an adult, cash value, and much more. It is very important to consider the pros and cons of the various options and pick the one that is the most suitable to meet your need. 

Permanent Life Insurance

Permanent life Insurance offers lifelong protection. It remains in effect from the day you purchase it until you die, as long as premiums are paid.

Here are so of the different types available:

Whole Life
  • The most basic type of Permanent Life Insurance

  • It contains a savings aspect that grows tax-deffered knowns as cash value

  • The cash value is garanteed to grow.

  • Premiums are garanteed.

Guaranteed Universal Life Insurance
  • Guaranteed not to lapse even if cash value runs out if premiums are paid.

  • It contains a savings aspect that grows tax-deffered knowns as cash value

  • The cash value is garanteed to grow.

  • Premiums are garanteed.

Indexed Universal Life(IUL)
  • A potion of the premium paid grows based on the performance of an index, such as SP 500

  • Guaranteed not to have a negative index crediting rate even in a down market 

  • Flexibility in payment options 

Final Expense

Final Expense life insurance is designed to meet the a permanent needs associated with death such as funeral and burial expenses. The National Funeral Directors Association made a statement that the average cost of a "regular adult funeral" (funeral with embalming, viewing and a metal casket) is now $7,323.  Purchasing this type of policy protects the families from having to pay for this out of pocket. There are different ways to do this depending on your age, health, habits, and lifestyle. Feel free to contact us with any questions that may help you protects your loved one's finances. 

Annuity

You might be asking yourself "What is an annuity?" An annuity is a contractual financial product that is designed to accept and grow funds from an individual and then pay out in the form of payments to the individual that can last for life. There several types of annuities that may be a smart fit for your financial portfolio:
 

Fixed Annuity: The principal investment and earnings are both guaranteed and fixed; payments are made for the term of the contract.

 

Indexed Annuity: This special class of annuities yields returns on your contributions based on a specified equity-based index, such as the SP 500.

Immediate Annuity: A single lump-sum payment is made in exchange for a guaranteed income that starts almost immediately.


 

Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”

Oscar Wilde

What We Believe

I feel it is important  to share what we believe in to make sure we are what you are looking for before you even contact us. There so many opinions regarding life insurance such as whether you should "buy term and invest the difference" or purchase a permanent life insurance policy among many other controversial subjects. It can be quite confusing for someone who is simply looking to protect their family's income. We believe that a term policy that will cover you until retirement is usually the best place to start for a large majority of the people who are looking to establish a financial foundation. At the same time life insurance is an important piece of a financial portfolio that can be more complicated at times. There also permanent needs such as final expenses and possible estate planning that should be discussed. If we are going to talk about life insurance we are also going to want to know if you are saving, investing, contributing to a retirement plan, etc. Therefore, we do not have a cookie-cutter formula in place that we believe is going to work for every client. Depending on your age, income, number of dependents, estate, and other information we will gather we will try our best to try to determine what is the best option to meet your need.

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