Let’s take a deeper look at the services we offer, specifically related to annuities, life insurance policies, disability, impaired risk and specialty health offerings we can provide you and your family.
Term Life Insurance provides death protection for a stated time period, or term for a specified premium. It is usually considered the simplest form of life insurance. It was developed to provide life insurance for a limited period of time, for an inexpensive rate. Since term insurance can be purchased in large amounts for an inexpensive premium, it is well suited for short-range goals, such as to cover loans or income replacement during child-raising years.
Whole life provides insurance for the insured whole life as long as a specified premium is paid. It also has a savings component that builds over time and can be used in wealth accumulation. The insurance company essentially makes all the decisions regarding the policy. Regular premiums both pay insurance costs and cause equity to build in the saving account. A fixed death benefit is paid to the beneficiary along with the balance of the savings account.
Universal Life Insurance offers death benefit protection but also has a savings element which is invested and can provide a cash value build up. The death benefit, cash value build up, and premiums can be reviewed over time and can be changed to the meet the policy owner’s needs if desired. Universal Life was built to give the policy owner flexibility with their policy.
Indexed Universal Life is very much like regular universal life, however instead of a declared interest rate the actual rate earned is tied to a calculation against different stock market indices. It does provide a floor by way of a minimum interest rate. This allows for the policy owner to share in some of the upside of these markets without the down turns.
Variable Universal Life has the flexibility that other universal life offers, however it is tied to certain mutual funds to credit the interest rate with the policy.
Disability insurance, also known as DI, provides income to you when the insured is unable to work because of covered sickness or injury. This would include individual DI, high-limit DI, key person, business overhead expense DI, among others
Annuities are tax deferred investment vehicles that grow funds to provide income or wealth accumulation over time. This would include traditional and bonus annuities, multi-year guaranteed annuities, index annuities, single premium immediate annuities and variable annuities.
Specialty Health Products include a broad spectrum of insurance products such as Critical Illness, Accident, Medicare Supplement or Cancer Insurance. These products will pay a specified benefit amount or reimburse medical expenses in an accident or if a specific health condition occurs. They are offered in work site and personal sales environment.
Our Impaired Risk specialists know which life insurance companies offer the best ratings for certain impairments or risk classes and match policy owners with these carriers providing the maximum value of their premiums. In many cases, we can obtain standard coverage for individuals who have previously been declined by other carriers.