Benefits of Life Insurance

Each situation is unique. We'll work with you to determine the amount of coverage and type of policy that will fit your needs.  

Tax-Free

Benefits are paid to your family in a lump sum, or distributions are usually free from income taxes.

Accumulate Cash Value

Some policies will accumulate a cash value over time, providing you with an option to defer tax on interest earned and allowing you to take tax-free distributions.

Why get life insurance?

If you die unexpectedly, can your family maintain their standard of living? If the answer is no, a life insurance policy is right for you.

Reason One

Generate an income for your family.

Reason Two

Pay expenses like a mortgage, childcare or college education.

Reason Three

Supplement your retirement plan.

Reason Four

Pay for accumulated medical expenses.

Reason Five

Pay for final expenses.

Types of Life Insurance

Term

    • Provides protection for a specific term
    • Generally free from income taxes
    • Often renewable after the policy term without evidence of insurability
    • Usually costs less than permanent insurance in the short term
    • Can sometimes be converted to permanent insurance with the same company during the life of the policy

Whole

    • Builds a cash value that can be borrowed against
    • Rates are locked in and won't increase over time
    • Tax‐deferred growth of cash value
    • Generally free from income taxes

Universal

    • Provides flexible death benefits and flexible premiums as long as the cash values are enough to cover insurance costs
    • Typically includes a cash value account that accumulates at a floating rate of interest, with a minimum rate guarantee
    • Accumulates cash value which you may use to help pay for the cost of insurance, riders and other policy expenses
    • May provide a secondary guarantee such as no‐lapse protection which allows you to select a coverage period from 10 years to age 100

Variable Universal

    • Combines the flexibility of universal life with performance of investment accounts and a focus on accumulating cash values
    • Performance based and may outperform or underperform a traditional whole life or universal life policy
    • Provides flexible death benefits and flexible premiums (as long as the cash value of the policy is adequate)
    • Directs net premium to investment accounts, with potential growth in cash value and death benefits tied to the account's performance. If the policy is a fixed account, there is no guaranteed rate of return.

Survivorship

    • Covers two lives, where the death benefit is payable on the death of the second life
    • Commonly used in estate planning—the first spouse to die leaves his or her estate to the surviving spouse, utilizing the unlimited marital estate tax deduction. The estate then becomes taxable upon the death of the second spouse

We can also help you with...

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Disability Insurance

Chances are an unexpected illness or injury will greatly affect your life. A disability policy can ensure your income is covered so you can focus on your health. 

LEARN MORE Click here to learn more about disability insurance.

Related Resources

Have Questions?

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Give us a call at 888.769.3796 and select option 3.

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Ed Agnew
Ed Agnew, VP Life Insurance Sales Executive , Kenosha, WI

Advisor and an Advocate

If the unexpected happens, service and responsiveness become as important as the dollar value of your coverage. Having an advisor on your side means you'll have a personal advocate working with you and looking out for your best interests while handling your claim.

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