Life Insurance
Don’t leave the future of you and your loved ones to chance! Anthony and The Steele Insurance Agency can help you find the right life insurance coverage for you, and help ensure that your policy continually meets your needs. The right life insurance will be unique for you and dependent on your personal and financial needs.
Some life transformations that may require a policy “tune-up” include:
- You recently married or divorced
- You have a new child or grandchild
- You have opened or expanded a business
- Your health or your spouse’s health has deteriorated
- You are providing care or financial assistance to a parent
- Your child or grandchild requires assistance or long-term care
- You recently purchased a new home
- You are planning for a child or grandchild’s education
- You are concerned about retirement income
- You have refinanced your home mortgage in the past six months
- You or your spouse recently received an inheritance
- You have a sizable estate
Life Insurance Benefits
Term Insurance
Term life insurance 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 life insurance, and is available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period.
advantages of the Death Benefit
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.
Whole Life Insurance
Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.
Advantages of the Living Benefit
The cash value growth of a permanent life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value, unless money is withdrawn.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 insurance policy to help with expenses, such as college tuition or the down payment on a home.
Universal Life Insurance
Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.
How much is enough?
The necessity of life insurance depends on your own personal and financial needs. At Steele Insurance Agency we assist and help you determine the type and amount of life insurance that is appropriate for you and your family.
