Solutions
We are here to help you replace your uncertainty with certainty. Our focus is to help our clients understand that life can be unpredictable. We are here to help you evaluate all your options so you are properly prepared.
TERM LIFE INSURANCE
Term life insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified “term” of years. You can purchase a 10, 15, 20, 25, 30, 35 and even a 40-year term policy. If the insured passes away during the specified term and the policy is active, or “in force,” then a death benefit will be paid to the beneficiary.
- This is a very cost-effective option for growing, young families, or for individuals that are seeking more affordable coverage.
- Some term policies may allow for the option to renew the policy, but there is no guarantee of renewal when the policy term ends.
- Most term policies offer level premiums for the duration of the policy.
- The policy can be structured to include living benefits that allow the policy owner to access a portion of the face value of the policy to help cover expenses that may accrue during their lifetime.
Final Expense Insurance
Final expense insurance is a whole life insurance policy that has a death benefit and is easy to get approved for. Final expense insurance is also called funeral insurance, burial insurance, simplified issue whole life insurance, or modified whole life insurance.
- Final expense insurance has a death benefit designed to cover expenses such as a funeral or memorial service, or cremation.
- Your beneficiaries can use the death benefit for any purpose they choose.
- Final expense insurance can be a great option for people who can’t qualify for other insurance due to their age or health.
Permanent Life Insurance
Permanent life insurance is an umbrella term for life insurance policies that do not expire. The two primary types of permanent life insurance are whole life and universal life. Term life insurance lasts for a limited period of time, while permanent life lasts your entire life as long as you pay the premiums. Most permanent life insurance combines a death benefit with a savings portion. Because of the lifetime coverage and cash value, permanent policies are significantly more expensive than term policies.
- An essential feature of most permanent life policies is a savings portion known as cash value. Cash value accumulates over time as you make regular payments toward your policy (these payments are known as premiums).
- Permanent life insurance policies with a cash value component typically make sense if you need lifelong coverage.
- The policy can be structured to include living benefits that allow the policy owner to access a portion of the face value of the policy to help cover expenses that may accrue during their lifetime.
No Medical Exam Life Insurance
No medical exam life insurance refers to any life insurance policy you can apply for without taking a medical exam. Instead of an exam, you answer health questions, and the insurance company checks your medical and other records. You may also have a phone interview in some cases. It’s best suited for the healthiest applicants. If you qualify, you can get a policy within a few days, or sometimes instantly.
A no-exam life insurance policy, like a simplified issue or guaranteed issue, may be just the option for you and your family.
You have two options for No Medical Exam Life Insurance:
- Simplified Issue is convenient for many individuals. If you don’t want to have to take a medical exam, simplified insurance is a great option.
- Guaranteed Issue is no-questions-asked coverage, and it is a type of permanent insurance, meaning it will last as long as your premiums are paid. If you’re facing a serious condition, like cancer or heart disease, guaranteed issue can help provide for your family after you have passed away.
Buy-Sell Agreement & Key Person Insurance
A buy-sell agreement is the result of comprehensive business succession planning. It is a legally binding document which protects the interests of a company’s owners and permits the business to continue even in the event of the death, disability, or retirement of a business owner.
A buy-sell agreement is commonly referred to as buy-out agreement. Buy-Sell Agreements address ownership in the event one of multiple owners passes away. In many circumstances, leadership is passed along through the departed’s heirs, who may not have the skill set or even the desire to work in the deceased’s place.
- Life insurance is used to fund buy-sell agreements should an owner pass away.
- Each business owner must take out a life insurance policy with the other members or the company as the beneficiary.
Key Person/Man Insurance is a life insurance policy that covers your most important team members. In most businesses, this means directors, executives and other key individuals whose death can be financially devastating to the business.
The value of a key person policy is up to your discretion, but should be enough to cover costs that include recruiting the new employee(s), training and payroll expenses for the individual(s) for a set period of time.
- The company is the owner and beneficiary of the life insurance policy.
- Your company has the necessary funds set aside for a situation that requires immediate hiring of new, qualified person.
- Your operations can continue without significant interruption or disruption.
Annuities
An annuity is a contract between you and an insurance company that requires the insurer to make payments to you, either immediately or in the future. You purchase an annuity by making either a single payment or a series of payments.
A key benefit of an annuity is that it allows you to save money without paying taxes on the interest until a later date. Annuities have no contribution limits and can help with the creation of a predictable income stream to fund retirement.
We offer 3 types of annuities. Immediate, Fixed and Fixed Indexed Annuities.
- Immediate Annuity: This is the most basic type of annuity. You make one lump-sum contribution. The contribution is converted into an ongoing, guaranteed stream of income for a specified period of time or for a lifetime. Withdrawals may begin within a year. This annuity creates immediate guaranteed income.
- Fixed Annuity: The insurance company promises you a minimum rate of interest and a fixed amount of periodic payments.
- Indexed Annuity: This annuity combines features of securities and insurance products. The insurance company credits you with a return that is based on a stock market index, such as the Standard & Poor’s 500 Index.
Let’s Work Together!
We are committed to providing you with the best possible service and we promise to always work in your best interest. We look forward to building a long-lasting relationship with you.