The basic purpose of life insurance is to make sure that your family has some financial support after your death. This is usually in the form of a sum of money payable upon death, and there can be some benefits concerning tax advantages that you can take advantage of in certain circumstances.
There are two basic kinds of life insurance, one of which is called term insurance. Term insurance pays a death benefit to the beneficiaries is you die during the period the policy is in force. If you live during this period, the policy will simply expire at the end of it, with no value. It is usual to be able to renew the policy at this point, although the premium will probably be higher.
The second kind of life insurance is permanent life insurance, sometimes known as “cash value” life insurance. Whole life policies are designed to provide you with life insurance throughout your life. These policies normally have a level premium, and assure that death benefit does not become prohibitively expensive in your later years.
The cash value policies also allow you to borrow money on the policy, with certain tax advantages. You do not pay income tax on interest or other earnings on these insurance policies, and you can borrow on a tax free basis as well. Your heirs do not pay tax on the benefits either- this is true of all life insurance. For these reasons life insurance can become a major part of your financial planning for both your future and for your family’s future.
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In addition to home and auto insurance, Ameriprise Financial offers life and disability insurance as well as long-term care policies and annuities. Our advisors will be able to explain your options for each of these.
Globe Life Insurance
Now more than ever, it is important for people to prepare for the future — especially people with families or added financial responsibilities. One way to prepare for tomorrow is by purchasing life insurance today. Globe’s adult life insurance is called LongLife. LongLife insurance comes in a series of affordable plans that are simple and guaranteed.
The best time to start life insurance for your children is when they are young and in good health. A serious illness or injury could make insurance very expensive or even unavailable in the future. The Globe Young American Plan is the smartest way to protect your child’s ability to get life insurance in the future. Just $1* and acceptance of your application will start a cash value whole life insurance policy with up to $20,000 coverage. This coverage could be increased to $50,000 over the lifetime of the policy and the premiums are guaranteed to never increase.
Competitive life, long-term care, property, and liability policies from Prudential can help secure your family’s future. Start today.
Whatever you needs, from income replacement to annuities, we have the product that’s right for you. Connect with an insurance agent today.
The two types of life insurance are term and permanent. The one thatís right for you depends on many factors, including your budget, the amount of coverage you need, and the length of time youíd like the coverage to last.
Permanent policies can provide valuable protection for your family. They offer the potential not only for lifetime protection and guarantees but also to build cash value. How that cash value grows varies based on the type of policy you have.
The death benefit from a life insurance policy can help them maintain their standard of living by supplying funds theyíll need.
We offer a variety of annuity products – variable, fixed, immediate income, and modified guaranteed annuities – to help you meet your retirement income goals. Find out more.
Plan for retirement with a wide range of investment options, professional portfolio management, a tax deferral, income options and death benefits. Variable annuities have potential to keep up with and even outpace inflation. Find out more today.
Apply for term life insurance coverage online and walk away with coverage today! Get your FREE QUOTE for up to $150,000 in protection and see how affordable this term life insurance coverage is! Plus, there are no medical exams, just answer a few health questions to qualify for coverage! Need more incentive? If you don’t like your coverage for any reason, you have a full 30 days to return itÖno questions asked!
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The advantage of having an easy-to-follow, step-by-step investing process with easy-to-use Web-based tools is that you rely on facts to make decisions – not emotions. The benefits are less stress, better results and, dare we say it, fun.