WHAT ARE
LIVING
BENEFITS?
Life Insurance You Don't Have To Die To Use
A life insurance policy helps protect your home, family and income in case of a premature death or the financial risk of a terminal, chronic, critical illness or critical injury.
-National Life Group
6 out of 10 people with health insurance used up all or most of their savings for medical bills.
-Americans Challenges with Health Care Costs-3/2017
A stroke occurs every 40 seconds in the US
1 out of 3 adults will have at least 1 chronic illness
#1 Reason households file for personal bankruptcy is due to medical debt
1 out of 4 of today's twenty-year-olds can expect to be out of work for at least 1 year because of disability
Types of Insurance
Term
-Temporary but Guaranteed Coverage based on Term
-Terms - Specified Years (10, 15, 20, and 30 years)
-Often considered the lowest costing life insurance
-Does Not accumulate cash
-Great for Young Adults, Newlyweds, and
New Home Owners
Best Term Options:
Return of Premium & Mortgage Protection
Whole
-Basic Permanent Coverage (never runs out)
-Fixed Payment for the life of the policy
-Guaranteed Death Benefit
-Guaranteed Cash Values once policy matures
-Great for kids, young adults, and middle aged adults looking for ways to save for retirement
Best Whole Life Options:
Final Expense
Universal Life
-Permanent Guaranteed Coverage
-Fixed Payment for the life of the policy
-Guaranteed Death Benefit
-Cash Value Tax Deferred
-Guaranteed Cash Values once policy matures
-A portion of the payment goes into cash value & earns current interest rates
-Accumulates Cash that can be used while alive
Options: Fixed, Indexed, Variable
Great for Juvenile Policies, Young Adults, and Adults Under Age 50
Best UL Option: Indexed Universal Life
Accidental Death
-Approval is guaranteed
-Coverage for spouse and children
-Great for high risk individual
-Only Covers accidental deaths
Best AD Option:
Return of Premium & Death Benefits that Double
Old Life Insurance
Insurance that can only be used to cover the policy holder's death benefit.
New Life Insurance
Insurance that has built-in benefits that not only can be used to cover the policy holder's death benefit, but also accumulates cash, and provides a assistance to the insured if diagnosed with Chronic, Critical and Terminal Illness.
V/S
Life Insurance Options
...and mortgage protection from your bank really doesn't count! When you have Mortgage Protection from your bank, the bank is the beneficiary and you have no control.
Additionally, if your mortgage loan is bought or sold, you will have to re-apply for mortgage protection with the new bank that acquired your mortgage loan.
Please don't burden yourself with the unnecessary extra.
With us, you own the certificate, decide who the beneficiaries are and your coverage and payment amount never changes.
Why do you need protection for Final Expenses?
Because Social Security only pays $255 as a lump sum death benefit - and only to qualified dependents.
The Veterans Administration final expense benefit, if you qualify, is only $734.
The medium average cost of a funeral is $24,150. This, of course, doesn't include other debts left unpaid.
Final Expense life insurance can help protect families
from
unexpected end-of-life cost
for a loved one.
Final Expense
When you purchase a Universal Policy it normally serves as a dual benefit with cash value growth.
When you consider a policy as part of your overall financial strategy you are choosing lifetime coverage.
Cash value growth can potentially serve as an effective long-term tool such as supplementing a family's overall savings strategy.
Ultimately, the death benefit amount provided by life insurance can be an effective "wealth" transfer vehicle.
Generally, tax-free and paid directly to the beneficiary, ask about this program.
Cash Accumulation
Mortgage Protection