Anthony performs life insurance needs analysis in order to properly assess what type of life insurance is best for you. He is committed to helping you find the appropriate type of insurance with the right amount of coverage for you and your family.
Types of Life Insurance:
This kind of life insurance protects you at a low cost for a certain period of time. If you are looking for something that is more affordable than permanent insurance, term insurance is most likely for you. The premiums over the course of the term (10 or 20 years) will not change and if you do pass away, your family will receive a lump sum payment tax-free to help them pay for important expenses.
Young families who just bought a house or had a child will find term insurance more affordable as it can provide a lot more coverage at a reasonable cost.
Whole life insurance is protection designed to cover you for your entire life time. Unlike term, whole life builds up a cash value to help with your financial goals. It’s an insurance contract that, as time goes on, the death benefit and the cash value grow in value. If you have term, you can convert it into whole life without doing a medical.
Money is paid tax-free upon your death to a designated beneficiary, helping settle your estate.
Universal life insurance is a very flexible type of life insurance. It will last your entire life time like whole life, but unlike whole life, you can change the amount of premiums you pay. It allows you to customize your coverage to match your changing life needs.
It is a life insurance contract and a tax-advantaged investment account, which can help you build up wealth over time. If the investment part of the contract does well, you can use it to help reach your financial goals.