Life

Life Insurance Quotes

Life insurance is a valuable estate planning tool providing peace of mind for individuals, families and employees.  We provide quotes on term life, whole life, universal, equity indexed and final expense insurance from several highly rated and trusted carriers.

Some of our most affordable providers include John Hancock, Prudential, MetLife, Minnesota Life, ING, Banner Life, Genworth, West Coast Life, Mutual of Omaha, Lincoln, but we represent several others as well.

Individual and Family Coverage

Families and individuals purchase life insurance policies for many reasons. The most common reason is to ensure financial stability in the event of an untimely passing.  Policy benefits can be used to cover home mortgage, vehicle, tuition, funeral, and/or living expenses.

Others use life policies to pay off estate taxes, transfer wealth, or to avoid inheritance taxes. The favorable tax treatment of life insurance proceeds is advantageous in larger estates. Policy owners use tax free benefits to bequeath larger sums to their children, extended family or a favorite charity.

Business Life Insurance

Business owners utilize life insurance to ensure the availability of capital in times of need. Key employee and buy/sell plans provide immediate liquidity for business succession and transfer plans. No other asset creates tax free dollars as well as life insurance when planning for business continuation.

Term Life Insurance Quotes

Term life insurance is least expensive and is typically purchased for a set amount of time - usually 20 or 30 years. Families will purchase term insurance to protect a spouse and/or children in the event of an untimely passing. After the term has expired there should be less need for significant financial protection.

Whole Life Insurance

Consumers who purchase whole life typically maintain the policy for their entire life. Policy cash value will grow each year and loans can be taken out against the policy when needed. Whole life never expires as long as the premiums are paid and eventually the policy will be paid up. Premiums will no longer be due and the cash value and death benefit can continue to grow for the insured and the beneficiaries.

Universal Life

Universal life lets you choose the amount of coverage needed and can be adjusted if your insurance needs subsequently change. Universal life products can use an equity-indexed “engine” to potentially increase the policy value. Variable insurance contracts will use stock and bond market instruments as their growth engine. These policies give consumers potential for a larger cash value and death benefit. Additional funds will accumulate tax deferred and can be used to help pay the cost of the insurance or to reduce premiums.

Single Premium Policies

Single premium life insurance is a tax efficient alternative to annuity plans, certificates of deposit, or stock market investments. Using SPL, you can deposit a predetermined lump sum into a life contract. An immediate death benefit is created that passes income tax free to a named beneficiary, charity, or funeral home.

The death benefit will vary depending on amount deposited, age, gender and overall health of the insured. The contract offers immediate cash value that increases through the life of the policy. Additionally, SPL can avoid state inheritance and federal estate taxes. In many cases, the value of the estate will increase substantially and efficiently when compared to other financial products.

Life products have several options which will ultimately affect the overall value of the policy to you while you are living (cash value) and the value to your beneficiaries at your passing (death benefit). Therefore, it is important to make sure you and your agent understand exactly what benefits you are expecting from your life insurance policy.