LET US INSURE YOUR LIFELife insurance can provide financial benefits that help you and your family now, not just when you're gone. You can trust our agency to serve you with honesty and integrity, helping you choose the correct insurance for your life and needs. And to help you take advantage of your policy's full potential, we'll make sure you understand all the benefits your life insurance provides. Life insurance can be used for:  Final expenses Paying off debt/mortgage Making mortgage or rent payments Providing an income to your heirs Transferring an inheritance to your heirs Paying estate/inheritance taxes Business continuation
Term life insurance and permanent life insurance are the two primary types of life insurance. Term life offers financial protection for a specific time period. While they don't build cash value, some policies can later be converted to permanent life insurance. Benefits include: - Maximum protection for a low premium
- Level premiums for specified periods of time
- May be convertible to permanent life insurance if your needs change
Permanent life can be very flexible, offering numerous living benefits and investment options. There are a variety of permanent life insurance options, such as whole life and universal life, to match your needs. Along with a guaranteed death benefit, these policies may offer the opportunity to take withdrawals and loans, and can give you substantial tax benefits. Benefits include: - Potential for cash value to grow tax deferred
- Tax deferral and compounding interest promotes quicker accumulation
Loan provisions -- (Tax free access to policy account value is possible through withdrawals up to the cost basis and loans thereafter, based on current tax laws and assuming the individual policy remains in force and is not a 'modified endowment contract' under IRC Section 7702A. Keep in mind that some of these tax advantages do not apply to Modified Endowment Contracts (MECs). A MEC is created when premium payments have violated the IRS premium limitations. Any distributions from a MEC that exceed the investment in the contract are taxable as ordinary income and may be subject to the 10% tax penalty for withdrawals before age 59½. Policy loans and withdrawals will reduce a policy’s death benefit and net cash surrender value. If the life insurance policy is lapsed or surrendered prior to the death of the insured, the policy loans in excess of cost basis will result in taxable income.)
Whole Life Insurance - Premiums stay the same over the entire life of the policy
- Guaranteed cash value accumulation
- Potential for excess interest credits in some policies
Universal Life Insurance | 
