Life Insurance
Prepare for the unpredictability of life and secure the future of your loved ones with policies designed with your goals in mind. Whether you are looking for Final Expense plans, Mortgage Protection, policies to replace income, or policies on children or grandchildren, we can help guide you to the products that fit not only your budget, but your needs.
Final Expense and Burial Insurance
In the United States, the average funeral cost is between $8,000-$12,000. This and the associated costs can place unnecessary stress and financial strain on those coping with the loss. Final Expense and Burial plans are whole life insurance policies designed to be affordable and easier to obtain than traditional life insurance. Some of the benefits of Final Expense life insurance are:
- No Medical Exam Required
- Affordable Monthly Premiums
- Premiums Never Change
- Coverage from $2,000 to $40,000
- Proceeds to your beneficiary are tax-free
- Coverage Will Never Expire
- Even Those With Health Issues May Still Qualify
We represent many life insurance companies providing final expense plans so based on your answers to basic health questions, we will shop for the best option to meet your needs and budget.
Mortgage and Income Protection
Whether it’s your first home or the home of your dreams, you worked hard to get to this point. Mortgage Protection plans are designed to provide you with peace of mind that if anything ever did happen, your family would not need to worry about defaulting on a home mortgage. Typically a term-life policy, Mortgage Protection policies can be setup to mirror the length of your mortgage and can even be setup to decrease in value each year to keep your policy premiums as low as possible.
Income Protection policies are designed to replace your income so that your family can live comfortably if anything were to ever happen to the income-producer in the family. Income Protection policies are typically higher value ($100,00 +) term-life policies that exist for a set number of years.
Children's Whole Life
Not only do Children’s Whole Life policies provide protection against the unexpected, they are also a great tool to provide young ones with a life insurance policy they can take with them when they set off to start their own family. Children’s Whole Life Policies are very affordable and the premiums will never change. No health exams are required and eligibility is based on a very limited number of health questions.
Other Life Insurance Products
Indexed Universal Life is a product that is a mix of term and whole life that will provide a sizable death benefit, has affordable premiums, can accumulate cash and is flexible. The growth of these policies is tied to popular indexes such as the S&P 500, with performance floors and ceilings put in place to avoid drastic ups and downs. This product is a great option to consider for children and young professionals as they can accumulate cash value over time.
Whole Life is a great option for anyone looking for policy amounts over $25,000, especially if there are not many health complications. Once the policy premiums are set up and as long as they are paid on time, the premiums will never change and coverage will never expire. Whole life will also build cash value.
Term Life is a product that can fill a specifice need for a set amount of time. Term Life can be used to protect business interests, ensure college tuition is secure, or protection for income or financial security. Generally speaking, you can purchase more term life than whole life for the price, but term life coverage will expire eventually.
LIFE INSURANCE FAQ
Most frequent questions and answers
Final Expense plans are Whole Life Insurance policies, but designed for face amounts less than $40,000 to cover the costs associated with burial or cremation. Final Expense plans are generally easier to qualify for than traditional life insurance.
Final Expense policies are a great way to ensure that loved ones will not have to worry about the financial obligations associated with end of life accommodations. It is an opportunity for you to setup an affordable monthly premium that can be drafted out of your bank account for a policy that will pay for final expenses such as burial, cremation or cover debt obligations.
No, in most cases this is not true. Most people qualify for immediate coverage whereas the policy will pay the full face amount for death occurring once the first premium is paid. However, if you have major health complications (examples such as cancer, stroke, congestive heart failure), there is a possibility that you will only qualify for a life insurance policy that has a 2-year waiting period before the face amount is paid after death. Most policies with 2-year waiting periods will at a minimum refund all premiums paid if death occurs and the policy is paid-to-date.
This is a tricky question because there are some policies you can buy via the mail or on the telephone that are just fine. However, many times we find that folks don’t know what they’re actually buying because it is not explained to them. During a free consultation, we will answer your questions and explain the details of your life insurance policy.
We can provide a free consultation to help you answer this question. The answer is not always yes, however, we find that a lot of folks have term life when they should have whole life or we find we can save them money on their monthly premium. Since the consultation is free, there’s not really anything to lose.