Life Insurance for Every Stage In Life

Now that we are seniors, why would we need life insurance?

Life Insurance is a secure way to make certain that Final Expenses are taken care of without causing a financial burden to survivors. Cash Value Accumulation can assist with emergencies. Life insurance benefits can be used to fund college expenses of grandchildren. It can also be used to equalize inheritance issues, if necessary. As a Legacy for Heirs, life insurance can be a wealth transfer “tool”. When a parent passes away, they can leave a tax-free monetary benefit to their children or grand children!

• Long-Term Care Insurance
  Is long-term care protection part of your planning? Going into a care situation can be financially draining. Long-term care insurance can be part of a wise risk management strategy.

• Debt Elimination
  A person may have many different debts that need to be covered in the event of death, such as student loans, home mortgages, auto loans, business loans, etc.

• Mortgage Acceleration
  In the event of death or disability it may be advantageous to pay off a mortgage with life insurance proceeds, i.e. mortgage protection.
  

• Income Needs
  If a wage earner becomes disabled, who will pay the bills? Disability Income benefits could.
  If a wage earner dies, who will pay the bills? Life insurance benefits could.

• Lifestyle Protection
  If a spouse passes away, their paycheck will not be there anymore, often leaving the surviving spouse to figure out a way to survive financially. Life insurance benefits could help the family maintain a comfortable lifestyle.

• Final Expense Plan
  Small permanent life insurance plans can be used to fund final expenses. These may range from $10,000 to $15,000.

• Future Funding for Emergency
  The cash value in a permanent life insurance plan can serve as an emergency fund.

• Replace Group Insurance
  Many employer group insurance plans are convertible to permanent coverage, which is good. However, some plans have reduced coverage as of a specific age, or coverage may end all together. Be sure to plan ahead and put coverage in place prior to these ages if the group coverage will reduce or end.

• Gifts & Special Bequests
  Life insurance is a great gifting tool to leave money to non-profit organizations and charities. Death benefit bequests can be made to a specified college, church, hospital, or group.

• Equalization of Inheritances
  Perhaps a family with two children is leaving the family farm to the son. To make things fair, they can take out a life insurance policy for the value of the farm that will pass to the daughter.

• Legacy for Heirs
  Life insurance is a popular wealth transfer tool. When parents pass away, they can leave a tax-free monetary benefit as a legacy for their children and grandchildren.

• Wealth Replacement
  When you make a gift, you may use a life insurance trust to replace the value of the donated assets. In this way, you can protect the interests of your heirs while still fulfilling your philanthropic goals. The life insurance provided the dollar amount, and the trust, provided it is irrevocable, removes the proceeds from your estate for tax purposes.

• Cash Value Accumulation
  This is a living benefit that permanent life insurance plans have; a savings element. A person can 'buy term and invest the rest', but people do not usually follow that advice.

Benefits are only generally described here. Products may vary by state. Some products are not available in every state. Please read the policy for exact details on benefits and exclusions. If there is a discrepancy between the product as it is generally described here and the policy or rider issued to you, the provisions of the policy or rider will prevail.