Serving Since 1920
Health & Life: Life Insurance
What We Offer
Term Life Insurance
Term life insurance provides death protection for a stated time period, or term. Term life insurance is perhaps the simplest form of life insurance. It was developed to provide temporary life insurance protection on a limited budget. Since term insurance can be purchased in large amounts for a relatively small initial premium, it is well suited for short-range goals such as life insurance coverage to pay off a loan, or providing extra life insurance protection during the child-raising years.
Whole Life Insurance
Permanent life insurance coverage for as long as you live and continue to make timely premium payments. With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals. The guaranteed cash values can provide money later on to help with temporary needs or emergencies.
Key Man Insurance
Key man insurance is simply life insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two. These are the people who are crucial to a business--the ones whose absence would sink the company. You need key man insurance on those people!
Long Term Care Insurance
Services you need when you're no longer able to care for yourself and need assistance.
If you're like most people, you depend on your paycheck to pay your monthly living expenses. But what would happen if you had a disabling accident or illness and could not work? Make a plan for income replacement. A Disability Income policy can help keep you financially stable during difficult times by paying a monthly income, directly to you, when you are sick or hurt and unable to work.
• Questions & Answers •
Why do I need life insurance?
Although you may not think about it, your ability to earn income is a significant asset and life insurance helps replace lost income in the event of your premature death. Here are some reasons people buy life insurance. The death benefit may be used:
• To pay off a mortgage loan and other personal and business debts or to create a rent fund.
• To create a fund for children's education.
• To pay final expenses, such as funeral costs and taxes.
• To create a family emergency fund or a fund for a family member with special needs.
How much life insurance do I need?
Rough "rules of thumb" suggest an amount of life insurance equal to 6 to 8 times gross annual income. However, many factors should be taken into account in determining a more precise estimate of the amount of life insurance needed. Important factors include:
• Income sources (and amounts) other than salary/earnings
• Whether or not the individual is married and, if so, what is the spouse's earning capacity
• The number of individuals who are financially dependent on the insured
• The amount of death benefits payable from Social Security and from an employer sponsored life insurance plan
• Whether any special life insurance needs exist (e.g., mortgage repayment, education fund, estate planning need), etc.