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Life Insurance

The Importance of Life Insurance

The unexpected can happen at any time. No one knows when, that’s where having a life insurance policy comes in. A life insurance policy immediately provides the individual or family a peace of mind, knowing that those they will be leaving behind are protected. Life insurance is more than having money for funeral expenses, it is income protection and provides a way to build generational wealth.

Term Life Insurance provides protection for your family for a specific amount of time, terms typically range from 10 to 30 years. It is called “pure life insurance”. This insurance comes with no savings and has no cash value, but guarantees payment of stated death benefit if the insured individual dies during the specified term. This money when inherited by the beneficiaries, can be used to invest in mutual funds, stocks, launch a new business and more. Tax-free.

Indexed Universal Life Insurance allows the owner to allocate cash value amounts to either a fixed account or an equity index account. The cash value of the policy is able to grow when certain stock market indexes (S&P 500) are doing well, while protecting you from losses. As the owner of the policy, you are able to withdraw from the cash value and use the savings towards college expenses, a down payment on a new home, retirement, etc. There is also an option for the beneficiaries to receive payment of stated death benefit, as well as the cash value. Tax-free.

Leave an inheritance with life insurance

Our wealth advisor can assist you with these additional services as well:

  • Annuities
  • Debt consolidation
  • Estate planning
  • Family income protection [life insurance]
  • Financial planning
  • Investment strategies [stocks, bonds, ETFs and/or mutual funds]
  • Money management [qualified or non-qualified accounts]
  • Mortgage protection [insurance]
  • Retirement planning [IRA, Roth IRA, 401k, 403b, 457]
  • Tax planning
  • Trust planning
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