A Life Insurance policy protects your family from the strain of final expenses. Term Life Insurance generally provides protection for a set period of time, while permanent insurance, such as Whole and Universal Life Insurance, provides lifetime coverage.
Death benefits from all types of Life Insurance are generally income tax-free.
We offer various insurance products to help you with your insurance needs.
Final Expense Life Insurance
Final Expense Life insurance helps take care of your final expenses (i.e. funeral, cremation, casket, cemetery etc.), as well as outstanding medical bills or debts. Any excess funds are paid to the policy’s beneficiary.
Single Premium Life Insurance
Single Premium Life provides lifetime protection and requires only one premium payment paid up-front to guarantee payment to beneficiaries. Since this large, up-front payment begins accumulating cash value immediately, the policyholder will earn more than holders of policies paid in installments. Under the tax reform act of 1986, the premium appreciates tax-free.
Term Life Insurance
Term Life insurance is temporary insurance for people who want:
Universal Life Insurance
Universal Life insurance is flexible-premium, adjustable-benefit, permanent life insurance that can accumulate values beyond the guaranteed cash value. In addition to its cash values, which can be used for children’s educations, to supplement retirement income and for incidental expenses, universal life insurance is flexible enough to change as your needs change.
Universal Life insurance protection offers the following advantages:
Whole Life Insurance
Whole life insurance policies provide coverage until your death, and also feature a cash value component. The policy builds cash value the longer it is in effect – in turn, that cash value may be borrowed against and used for various expenditures throughout your life.
Whole Life insurance protection provides:
Funeral Expense Trust/ Irrevocable Burial Trust
A combination of life insurance and a funeral trust creates a secure plan to cover your final expenses. A life insurance policy purchased to cover the anticipated costs of your funeral is assigned to an Irrevocable Burial/Funeral Expense Trust.
This assignment offers three main advantages:
1). At the time of death, policy proceeds do not have to go through probate and are available immediately to pay your final expenses
2). The policy may not be considered an asset in determining Medicaid and SSI eligibility
3). Funds are protected from creditors