Life Insurance

Life insurance protects against the loss of income that would result upon the insured person’s death. The named beneficiary of a life insurance policy receives the proceeds of the policy, thereby safeguarding them from the financial impact of the insured person’s death. Life insurance is meant to provide a level of financial security to your loved ones after you die. The best times to reevaluate your life insurance needs are annually or after a major life event, such as marriage, the birth or adoption of a child, divorce, the death of a spouse, or the purchase of a house or business. How much life insurance you need depends on your individual situation. We can help you quantify your needs and evaluate the life insurance plans available.

Benefits you can use now

Many people are unaware of the benefits of life insurance available while the insured is still living, such as:

  • Access to funds in your policy on a tax free or low interest basis, whenever you want.
  • Long-term or short-term care, if you need it, but NO COST if you don’t. This potential need is probably the greatest single risk to your financial security. Talk with your financial advisor about this.

Business-owned life insurance (“BOLI”)
A company can own the assets and benefits of a policy on an owner, partner, or key employee. If that person leaves, the assets can be transferred to another person or the policy can be given to the departing person as a gift. We carefully design “BOLI” plans in consultation with a company’s different advisors, such as CPA, attorneys, and investment planners.

Final Expense Insurance

Final expense insurance, also known as burial insurance, is a type of life insurance used to cover costs associated with a funeral. Final expense insurance is available to people into their late 80s, and often requires limited or even NO underwriting or health questions. Some costs covered under burial insurance are funeral services, casket, cemetery plot, and other miscellaneous final expenses. Typical amounts of coverage are $5000 to $25,000.

If clients are in good health, with no chronic or life-threatening illnesses present, we have plans that are lower in price but require more detailed medical questions.