Why life insurance?
Life insurance may be one of the most important insurance coverages to consider for your family. Knowing you have the coverage you want can help you face financial fears with confidence that you're providing financial support for those you'd leave behind.
- Mortgage Debt: Protecting your family’s home takes more than a good alarm system. For most of us, a home is the most expensive purchase we ever make, and a mortgage the biggest debt we’ll ever pay. Life insurance proceeds can help your family keep the home you worked hard for. Contact me today to help financially prepare for tomorrow.
- Children: Food, clothing, vacations, education… there’s no question, raising a child is a huge financial commitment. Life insurance proceeds can help financially support those you leave behind so a personal tragedy doesn’t become a financial one. Let me help so you can evaluate your needs and choose a solution.
- Future Income: Who depends on your income today, and in the future? Are you building a nest egg for your spouse? Supporting a loved one with special needs? Applying for life insurance today could help you provide them with financial support when you’re no longer here. I can help as you determine what sort of life insurance you need, and how much coverage you want.
- Business: People can be a business’s biggest asset, and its biggest expense. Life insurance can help you cover your business against the loss of key employees, help fund the transfer of a business when one owner or partner dies, or help you retain valuable employees as a long-term benefit. As a business owner myself, I understand just how important planning for these issues can be.
Life Insurance Options
I want to understand your goals and discuss options so you can select the products you want, such as term life, whole life, or universal life insurance.
- Term Life: The simplest type of life insurance, and usually the least expensive to start.
- Provides coverage as long as you pay the premiums, typically up to age 90.
- Premiums guaranteed not to change for the first 10 to 30 years of the policy, then increase annually with age.
- Can be especially popular with younger families who need a lot of coverage but aren’t yet earning their peak incomes.
- Whole Life: Whole life insurance is designed to last as long as you do.
- Coverage up to 121 years old as long as all required premiums are paid1.
- Premiums never increase, from the day your policy is issued to the day premiums are no longer required at age 100.
- Initial premiums are higher than term insurance, with funds accumulating within the policy as cash value.
- Whole life is the most conservative type of permanent life insurance, with guaranteed level premiums, guaranteed cash value accumulation, and a guaranteed death benefit2.
- Universal Life: Like whole life, universal life insurance offers the potential of life-long coverage, to age 121. But it allows flexibility in the timing and amount of premiums3, and allows you to adjust the death benefit amount.
- You choose the amount of premium to pay, within contract limits. That payment goes into a separate account inside the policy, with the cost of the policy deducted from the account each month. Your policy stays in force as long as there’s enough value in the account to cover the deductions.
- You can build more cash value by paying more premium.
- When times are tough, you can reduce or even pause premium payments as long as there’s enough cash value to cover policy costs.
Ensuring Financial Security and Peace of Mind
Life insurance provides invaluable peace of mind, knowing that your loved ones will be financially protected and taken care of, regardless of what the future holds. It serves as a testament to your commitment to their well-being and ensures that they can navigate life's challenges with financial security and stability.
1 Lifetime coverage (or life of the policy) is guaranteed as long as all premiums are paid to keep the policy in force.
2 The death benefit is guaranteed according to the terms of the contract and provided that premiums are paid.
3 The cost to keep your policy in force will increase over time. This policy may lapse if you do not pay enough premiums to continue coverage.
ALCP09-20
