Coverage for a stated Term such as 10, 20, or 30 Years.
- In most cases, Term Life Insurance is less expensive than Permanent Insurance.
- Some policies offer a “Guaranteed Convertibility” feature that allows the insured to convert to a Permanent Insurance without proof of good health!
Coverage for the lifetime of the Insured.(Sometimes called “Whole Life Insurance.”)
- Flexible premium payments.
- Potential tax-deferred growth on Policy Values that may gain significantly and make the policy a valuable financial tool over a long period of time.
Example: At 65, Joe is told by his Life Insurance company that his policy has a “surrender” value of $200,000. Joe has the option to cancel the policy and receive a check for $200,000.
- Access to policy values through policy loans and withdrawals.
- Ability to list the policy Values as another asset you own on a Credit or loan application.
Why buy Life Insurance?
- The Beneficiary receives a tax-free lump sum.
- Your children can go on to college and pursue their career path.
- Your spouse or significant other is not burdened with the mortgage debt.
- So your business partner is not burdened with your share of any outstanding debt.
- To relieve a person that co-signed for you from having to pay all the debt.
- To cover final expenses associated with your funeral, estate and debt.
- Terminal Illness-Some policies allow you to access a percentage of the death benefit during your lifetime if you become terminally ill.
It’s Easy to apply.
Here’s what to expect during the Application Process:
- The company may want a physical completed by a certified Nurse.
- Your medical records may or may not be requested.
- An application must be completed and signed.
- Online applications also available.
NOTE: If you do not want to have a physical that may include giving a blood sample, ask us about “NO MEDICAL” Term Life Insurance.