Life Insurance

Protect You And Your Family

Safeguard Your Family’s Future With The Right Life Insurance Policy

Don’t leave the future of your loved ones to chance. Having the right life insurance is pivotal in planning for the future of you and your loved ones. Life insurance can help you fulfill promises you’ve made to your family when you are gone.

Life Changes — Should Your Policy?

Change your policy to fit your life

Some life transformations that may require a policy tune-up include the following:

You recently married or divorced

You have a new child or grandchild

You have opened or expanded a business

Your health or your spouse’s health has deteriorated

You are providing care or financial assistance to a parent

Your child or grandchild requires assistance or long-term care

You recently purchased a new home

You are planning for a child or grandchild’s education

You are concerned about retirement income

You have refinanced your home mortgage in the past six months

You or your spouse recently received an inheritance

You have a sizable estate

Common Types Of Life Insurance

There Are Several Different Types Of Life Insurance Policies — The Most Common Include The Following:

Term Life Insurance

Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than whole life insurance, and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to 20-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

Whole Life Insurance

Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.

Universal Life Insurance

Universal life insurance is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.

Advantages Of Life Insurance

What You Need To Know

Not only can life insurance provide assurance for your family after you are gone, many life insurance options offer other benefits and investment opportunities you can take advantage of while you are living.

Advantages of the life insurance death benefit

When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

Advantages of Living Benefits

The cash value growth of a whole life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.

Informational statements regarding insurance coverage are for general description purposes only. Read our disclaimer.

Want To Know More About Protecting Your Loved Ones?

Jeff Munns Agency, Inc. is happy to help.