Facts
Facts
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Below you will see some facts about the types of insurance we educate our clients on. In many cases we find a solution that our clients may not have been aware of, yet fits their personal needs. These facts may not answer all of your questions. This is why we encourage you to reach out to us to get personalized information based on your needs and budget.
Mortgage Protection
Here are some facts about mortgage protection insurance (MPI):
It's optional: MPI is not required, but it can be a good option in certain situations.
It's not just for older people: MPI can be beneficial for people of all ages.
We can shop around for you: We go to bat for you! We look for the best carrier options and pricing to best suit your budget.
It can be affordable: MPI can be more affordable then you may think.
It can help you plan for the future: MPI can help you feel more financially secure and better prepared for unexpected events.
It can help if you have a health condition: MPI can be an option if you have a health condition that makes you ineligible for life insurance.
Final Expense Insurance
Coverage amount: Usually ranges from $5,000 to $25,000, depending on the policy and individual needs.
No medical exam: Most final expense policies do not require a medical exam, only health questions on the application.
Fixed premiums: Premiums remain the same throughout the life of the policy.
Guaranteed coverage: Once approved, the policy cannot be canceled due to health changes.
Beneficiary receives payout: The death benefit is paid directly to the named beneficiary upon the policyholder's death.
Flexibility in use: The payout can be used for any final expenses, including funeral costs, outstanding debts, and medical bills.
Life Insurance
Cost
Life insurance is usually cheaper when you're young and healthy. However every person is unique and therefore may be less than you think.Medical exam
Some life insurance companies offer simplified underwriting, which means you can avoid a medical exam.Employer-provided life insurance
The median payout for employer-provided life insurance is either $20,000 or one year's salary. In most cases the amount of employer provided life insurance is not enough to support surviving family.Tax-free
Death benefits from life insurance are usually tax-free for beneficiaries. However, if the policy earns interest, the interest payments may be taxable.Benefits
Life insurance can help cover final expenses, supplement retirement savings, and provide financial security for dependents.Policy types
There are several types of life insurance policies, including term, whole, universal, and variable. Each unique, just like the people they cover.Underwriting
Life insurance policies usually require medical underwriting, which means your lifestyle, health, and medical history will be assessed.
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