Life insurance is a contract between a life insurance company
And a policy owner.
A life insurance policy guarantees the insurer pays a sum of
Money to one or more named beneficiaries when the insured
Person dies in exchange for premiums paid by the policyholder
During their lifetime.
Key Takeaways…
* Life insurance is a legally binding contract that pays a death
Benefit to the policy owner when the insured person dies.
*For a life insurance policy to remain in force, the policyholder
Must pay a single premium upfront or pay regular premiums
Over time.
* When the insured person dies, the policy’s named beneficiaries
Will receive the policy’s face value, or death benefit.
* Term life insurance policies expire after a certain number of years.
* Permanent life insurance (whole Life) policies remain active until
The insured dies, stops paying premiums, or surrenders the policy.
* A life insurance policy is only as good as the financial strength of
The company that issues it. State guaranty funds may pay claims if
The issuer can’t.
Why Do I Need to Get Life Insurance?
Steps in the insurance buying process…
* Determine your goals; determine how much insurance you need
To meet your goals over time, and determine what you can afford
To pay.
* Learn what types of insurance can help you meet your needs.
* Remember, working with a financial professional can help make
This whole process easier. A financial professional can help explain
The differences between types of policies, help you calculate the
Amount you need, and present potential options that may best suit
Your needs.
6 Reasons to Purchase life insurance…
Life insurance can give you lasting peace of mind in terms of the
Assurance that you have provided a legacy. That’s because the
Right coverage can offer a valuable combination of benefits, so that
You and your loved ones know exactly what you’re getting.
Of course, you have to make a long-term commitment to paying
Premiums and keeping the policy in force.
Some of the most common reasons for purchasing
Life insurance include…
1. Guaranteed Protection
if you have a family, a
business, or others, who depend on you,
The life insurance benefit of a whole life policy acts as a financial
Safety net.
When you die, your beneficiaries will receive a lump-sum payment
That is guaranteed to be paid in full (provided all premiums are paid
And there are no outstanding loans).
Its essential protection that you can count on to be there for your
Loved ones when needed.
2. Income Replacement
Imagine what would happen
to your family if the income you provide
Suddenly disappeared?
With whole life insurance, you can help make sure that your loved
Ones have the money they need to help…
* Pay the mortgage
* Afford childcare, health care, or other services
* Cover tuition or other college expenses
* Eliminate household debt
* Preserve a family business
3. Tax-free Benefit
Your beneficiaries will
be able to enjoy every penny you leave them.
That’s because the benefit of a life insurance policy is generally
Passed along federal income tax free.
4. Guaranteed Cash Value Growth
As you pay your premiums,
your Whole Life policy builds cash value
That is guaranteed to grow—tax deferred—and can help meet a
Variety of financial goals…
* Supplement retirement income
* Fund a child or grandchild’s education
* Pay off a mortgage
* Protect existing assets
* Establish an emergency fund
5. Dividend Potential
One of the benefits of
purchasing whole life insurance from Plum Life
Is that you will be eligible to receive dividends. Although they are not
Guaranteed, when dividends are awarded, you can take them in cash,
Or use them to buy paid-up additional insurance that increases your
Coverage and cash value, or take them in cash.
6. Optional Riders
There are several ways to
tailor a whole life policy to meet your
Individual needs. For an additional cost, you can use riders to purchase
additional protection without further underwriting, to pay your premiums
If you become disabled, to use some of your face amount to pay for
Chronic illnesses, or to purchase coverage for your children.
Your agent can help you decide if any of these riders are right for you.
I STILL MAKE HOUSE CALLS!
Hayden Childs
Alabama Licensed Insurance Agent
(205) 269-1382
“The grief is bad enough,
Don’t leave the burden
To your family!"
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