You can’t predict what lies ahead, but you can be prepared with our expert agents for whatever turns life presents. Brick by brick, we have built a strong and stable agency that imparts confidence to our clients, affording them the ability to enjoy their lives while we safeguard their tomorrow. The leadership of Insurance Advantage has twenty-plus years of industry experience combined and we know how to assess your protection needs and financial resources to harmoniously pair you with the best coordinating insurance provider. Our clients and their families rely upon us when they are faced with paying any expenses that should arise through the loss of a loved one. We can partner with you to bestow a secure financial future for your family when you can’t be there to protect them anymore. We will help you see ways that you can plan for the future, help your beneficiaries pay off any incurred debt (including your mortgage, car loans, funeral arrangements, credit cards, and more), provide a replacement to lost income, and guarantee that your children will have the funds they need for their college tuition.
Our team can explain the opportunities and obstacles that come with each Life Insurance policy we offer such as Term Life Insurance, Whole Life Insurance, and Final Expense Insurance.
What is Life Insurance?
A life insurance policy is a sum of money chosen by you based on your goals that an insurance company promises to pay upon your death in exchange for premium payments that you make.
Why do I need life insurance?
Life insurance protects and provides a way for your family and loved ones to receive non-taxable funds upon your death. This money can not only provide invaluable peace of mind to them when they most need it, but also it will provide money to pay off any debt that you incurred like your mortgage or other loans.
How much protection do I need?
When considering the amount you will want your policy to pay out upon your death, commonly called the face value, ask yourself the following questions:
- How much debt have you incurred which includes credit cards, property, mortgage, vehicles, and other loans?
- How much income will your family need upon your death based on things like your salary, social security gains, bonuses and etc.?
- What future obligations do you want to plan ahead for like your children’s college, weddings, and your spouse to have financial security?
What types of life insurance are available?
Insurance Advantage offers 3 main types of life insurance: Term Life Insurance, Whole Life Insurance, and Final Expense Insurance.
Term Life Insurance
Term Life Insurance provides coverage for a specified period of time. We will guide you through the countless options that will determine the length of time that can cover for 1 year up to 30 years. Options such as the amount you want to pay and what age your dependent will receive benefits are available. You can also choose whether the amount will increase with time or not, and whether you should pay monthly, quarterly, semi-annually, or annually. Should your death occur during the term period, your beneficiary will be paid the face value of your policy. Although Term Life Insurance policies are not meant to accumulate cash value, they are a good way for you to have lower premiums than other life insurance policies with the same face value.
Whole Life Insurance
Whole Life Insurance offers long-term cash value-benefits that can be borrowed against or used to help fund your retirement, finance education, or just make life easier. Although the monthly cost is higher than a term life policy, equity is gained with each payment. This is designed to provide coverage for your entire lifetime, unlike term insurance which only provides protection for a specified time period. Whole Life Insurance also offers dividends that provide an opportunity for your cash value to grow even more. Once again, we can help you make the best choices when it comes to whether you should pay your premiums monthly, quarterly, semi-annually, or annually.
Final Expense Insurance
Final Expense Insurance can help you plan ahead to prevent your family from worrying about how they will pay for your funeral expenses, unpaid bills, or legal fees. Your family can be financially comforted with a small death benefit during this difficult period of time while building cash value you can use during your lifetime. There are no guarantees, but your policy could earn dividends that can accumulate while earning interest as well as be used to purchase paid-up additions, reduce a premium that’s due, or be paid in cash. These are ways that our life insurance specialists can help you combine protection and growth potential according to your goals and the way you want to distribute your assets.