The value of human life is immeasurable, but the protection and support of those loved ones left behind is a necessity. Life insurance is for the living; be sure you are able to fulfill the promises you’ve made to your family in the event something happens to you.
Having life insurance is important, but having the right policy is pivotal for strategically planning the future of you and your loved ones. TIS can help you determine the right amount of coverage and ensure that your policy will meet the needs of your loved ones so that they may continue on in life at the same standard of living to which they are accustomed.
Don’t leave the future of you and your family to chance.
Are you recently married or divorced?
Do you have a new child or grandchild?
Have you recently opened or expanded a business?
Has your health or your spouse’s health deteriorated?
Are you providing care or financial assistance to a parent?
Are you concerned about retirement income?
Have you recently purchased a new home?
Type of Policy
Death Benefit Amount
These are just some of the many factors used to determine the best policy for your unique life insurance needs.
Life Insurance Coverages
There are several different types of life insurance products available – the most common include:
Term Life Insurance
Term life provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to a 30-year (level term) period.
Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
Whole Life Insurance
Whole life is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Policy premiums do not change over time.
Additionally, whole life insurance can be an investment opportunity, as many whole life policies also build cash value over time.
Universal Life Insurance
Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts, and unbundled pricing structure.
This type of life policy can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
Did you know?
Not only can life insurance assure your family after you are gone, but many options offer other benefits and investment opportunities you can take advantage of while you are living.
The cash value growth of a permanent (whole) life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a permanent life policy to help with expenses, such as college tuition or the down payment on a home.
When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can help provide security for your business security as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.