Whether you’re just starting a family, have people depending on you, or simply enjoying retirement. Life insurance can help provide monetary death benefits when you die to those you designate as beneficiaries — say your spouse, children or siblings. But, life insurance can serve for more than just “death protection.”
Types of life insurance
Level Term Insurance
Provides a constant death benefit amount of insurance for a specified period of time. Decreasing Term Insurance: the face amount decreases over the term of coverage. This may be used, for example, to cover the decreasing amount of a home mortgage.
Permanent or Whole Life Insurance
this is permanent life insurance protection provided through age 100. A permanent or whole life policy accumulates cash value.
Flexible Premium or Universal Life Insurance
Designed as a permanent life policy, this coverage differs from traditional permanent policies in that it allows the policy owner to vary the amount and timing of premium payments (subject to satisfying policy premium minimums to keep the policy in force), plus increase or decrease the death benefit (subject to underwriting for an increase and policy minimums for a decrease).
Cash Value Accumulation
Some life insurance products combine death protection and Savings. These products can be useful during your lifetime, not just after it. They can help you achieve your financial goals through death benefits should you die, and through cash value accumulation while you’re alive which can help with college or retirement savings, and estate taxes.
Learn about our Guaranteed Lifetime Income Benefit Income ProtectorSM Annunity
Subject to availability and qualifications. Other terms, conditions and exclusions may apply. Life insurance products also have limitations and exclusions which may affect continuation of coverage.
Your Primary Objective
Understanding what’s the right life insurance for you means setting one primary objective. Do you simply want death protection? Or, do you want both death protection and a savings element? Once established, then you need to determine how to maximize your life insurance protection for each premium dollar spent. Here’s where Ronn Hall Insurance can help.
Life insurance can serve as an integral part of your overall financial strategy so, like your financial budget, review your insurance needs yearly. Remember, certain life insurance policies can be used for more than death benefit protection, they can help you achieve your financial goals and help add security to the years you are living. While it’s difficult for each of us to face our own mortality, planning for it will ease the burden our loved ones will later face. Life insurance can be purchased to help in this difficult situation, providing for death benefits or cash value accumulations to help with:
- unpaid medical bills
- income replacement for survivors
- final expenses like burial costs
- unplanned or emergency expenses
- your mortgage balance,
- future education funds
Remember, you can also use life insurance: to help you establish an estate plan, as a component to your savings strategy, for retirement income, or even to pay for estate taxes.
Other Products that we offer:
Long Term Disability, Health Insurance, Cancer and Accident Insurance