Asset Protection

Term Insurance is provided with optional 10, 15, 20, 25, and 30-year terms, with level premiums that are guaranteed for the entire initial term. The primary purpose of term insurance is to ensure that a family’s lifestyle will not be affected by the sudden loss of the breadwinner. The tax-free death benefit can be used to pay off any debt, loans, and will provide a cushion of income during time of grieving and figuring out the next step. There are many great features like Return of Premium available on term policies, in which the insured will be returned all money paid towards the premiums at the end of the term length. In addition, term life insurance policies come with living benefits that will provide additional coverage in the event of chronic or critical illnesses, unemployment, and other life events that may arise while the breadwinner of a family is still in the workforce. Most term insurance policies are renewable and are also convertible to whole life. Term premiums are typically lower than whole life policies, as they are intended to provide protection of your assets such as a mortgage, for a designated length of time. Your insurance needs will change over time. Make sure you are informed so you can update your plans accordingly!

Will you have the amount of coverage needed?

Many people think of insurance has a legacy planning tool, but it can also be good for protecting your assets. Insurance policies can offer wealth creation as well as minimize risk.

Return of Premium Mortgage Protection is a great way to protect your investment and receive your premiums back at the end of the term. It qualifies as mortgage protection and can save you money against the traditional renewable term policies.

Your needs will change you grow older.  Make sure you are informed so you can update your plans accordingly.

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