What is Life Insurance?
Life insurance is a policy agreement/contract with an insurance company, where the insured agrees to pay a specified amount (premium) to the insurance company for a specified amount of coverage. Upon the death of the insured, life insurance company pays the lump sum amount of coverage to the named beneficiary of the policy or to the estate of the policy owner. Premium paid by the policy owner is dependent on a number of factors; such as gender, age, health condition, life style, family health history and smoking status of the insured.
Insurance is a Core Component of Proper Financial & Wealth Management Planning.
Why do I need a Life Insurance?
Life insurance helps to secure the financial future of people close to you, your loved ones and those who depend on you. Life insurance gives you the peace of mind you need. If upon your death, you don’t want them to be left with a legacy of debt, paying your final taxes or other money worries, then obtaining a life insurance policy is the answer.
A life insurance policy can be a useful financial tool during your lifetime. A proper policy may be used for cash withdrawals, collateral for loans, retirement income, or to protect your business, when you are an entrepreneur or a business owner. Other applications of Life Insurance are:
- Estate tax needs
- Tax deferral opportunities
- Wealth transfer
- Buy/Sell shareholder and partnership agreement funding
- Key person insurance
How much life insurance do I need?
It depends on you - your lifestyle, your responsibilities and your stage of life. After we analyze your needs, we are able to give you an accurate idea of how much life insurance is appropriate for you.
Get the Right Policy from the Right Company…
Selecting the right policy can be a confusing process for you, but when we fully explain the pros and cons of various term and permanent policies to you and help you to sort through your options in accordance with your specific need, you will be confident that you have made the right decision. As independent brokers, who represent plenty of insurance companies with a wide selection of products, our expertise will help you to choose the company and the policy that best suits you.
Contact us for a complimentary consultation with NO obligations.
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Your insurance costs will remain the same for a specific period of time (the "term"), until it renews for another term.