Fixed and Indexed Universal Life

Considered the most flexible of all life insurance, universal life allows you to adjust the amount of your policy as well as the premiums you pay. If you wish, you can pay additional premiums to accumulate more savings throughout the years. You can also increase or decrease your death benefit depending on your life insurance needs. An increase in coverage may require additional laboratory exams.

Two of the most popular types of Universal Life policies are Fixed Universal Life and Indexed Universal Life. One of the main differences between them is how the policy interest is credited.

Traditional fixed universal life policy, the interest rate is declared by the company.

Index universal life credits interest based on changes in the value of a major market index. Both offer different degrees of guarantees and returns, depending on your decision for the risk. Our agents will provide complete information in explaining these policies to help make the best decision possible. These policies are considered the most beneficial for long term savings while still being covered throughout the years. You have the best of both worlds with savings and coverage all in one plan.

MORTGAGE PROTECTION

Mortgage protection insurance deals with covering the debt of your house with a life insurance policy if the owner of the property or breadwinner of the house suddenly becomes terminally ill or suffers an unexpected death. Therefore, it guarantees the financial security of your family.

Mortgage protection is the best way to protect your biggest investment: your home. This life insurance is designed to replace your income in case of premature death, so that your family has financial security. Mortgage Protection insurance deals exclusively with the mortgage on your home that you owe the bank and guarantees that the family will not lose the home. Having that piece of mind knowing your home will always rest easy and be protected is the best gift you can give to the family you love.

How does a mortgage protection insurance work?

Age is an important factor for the price of the premium, the coverage becomes more expensive the older someone becomes. Typically, the insured takes out a policy in the amount owed on the mortgage in the event an unexpected death occurs in the family. The peace of mind that a “Mortgage Protection” life insurance gives to the family is fundamental. In a situation in which the insured suffers a critical, chronic, terminal illness or death, it gives the family time to make a smart decision instead of being forced to sell the property quickly to alleviate the increasing financial pressures.

Final Expense

Final expense insurance is designed to cover the bills that your loved ones will face after your death. These costs will include medical bills and funeral expenses. Final expense insurance is also known as burial insurance. Unfortunately, even bare-bones funerals can cost thousands of dollars. With this plan, there are never any medical exams required. Typically, these policies are only offered and designed for people between the ages of 50 – 85 and remain in force for the lifetime of the insured.

Could your family self-insure for your final expenses?

Typically, a funeral service can cost roughly $10,000. But don’t forget to take into account whether you want a ceremony after the service or perhaps a trip abroad to scatter your ashes. Maybe you’ll end up leaving big bills behind. If situations like these sound like your situation, you may want to consider springing for final expense insurance. This is a permanent plan which provides a benefit amount to the family at the time your loved one passes away.

WHOLE LIFE

Often called “permanent” insurance because it remains in effect for life time of the insured and offers more guarantees than a universal life policy as long as the premium is paid as scheduled. These premiums are designed to remain level during the life of the policy. In addition, after having a policy for sufficient time, it generates a cash value with deferred taxes and you may be able to access these funds with tax advantages. The cash value of these policies are guaranteed for the life of the insured.This policy, along with several others, provides living benefits to the insured in the event the insured were to be diagnosed with a terminal, critical or chronic illness.

Term Life

A type of temporary protection which provides a benefit that is payable only in the event that the insured dies during the policy term. Term Life Insurance offers you financial protection to cover expenses such as a mortgage on your home, new investments such as buying a car, coverage for student debt, hospital expenses and much more during a defined period of time. Term plans offer excellent living benefits for the insured and are convertible during the term to a permanent policy. When the insured is ready to convert this plan, there is no need for a medical exam which makes the transition even easier. Super important for people who need a certain amount of coverage now, while having an inexpensive monthly premium.

Key Benefits with Term Life:

GUARANTEE
● Death benefit is guaranteed.
● Living benefits.

FLEXIBILITY
● Choose the term that fits your needs: 10, 15, 20, 25 or 30 years.
● The initial coverage you have chosen can become a permanent plan, with some of our companies, without the need for a new insurance or additional subscription.

AFFORDABILITY
● Relatively inexpensive insurance based on the number of years and amount of coverage for the client.

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