Life insurance policies are unique and depend on your personal and financial needs. As your life changes, your life insurance should evolve. Getting married, having a baby, purchasing your first home, starting a business, or retiring all warrant a review of your life insurance policy.
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Our approach is to work with life insurance policy owners or prospective policy owners to review coverage on a regular basis. Often there are legitimate planning issues that come up that need to be taken into consideration, such as changes in financial or personal situations.
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By conducting a regular, thorough, detailed, unbiased analysis we can evaluate the current coverage in force and recommend alternative solutions, where appropriate, for those that depend on life insurance coverage being there for their families, business partners, or estate plan completion.
Life Changes. So Should Your Policy
Having the right life insurance is pivotal in planning for the future of you and your loved ones. Life insurance can help you fulfill promises you’ve made your family when you are gone.
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Don’t leave the future of you and your loved ones to chance. Grassroots Insurance Services can help you find the right life insurance coverage for you, and help ensure that your policy continually meets your needs.
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For each of our neighbors , the right life insurance will be unique and dependent on personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current needs.
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Who needs life insurance?
Anyone with financial and personal responsibilities needs a life insurance policy. It’s common to buy a new policy during big life changes, but if you see yourself in any of the following, you need life insurance:
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Married people
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Divorced parents
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Single parents
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Caregivers of children or adults
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Retirees
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Homeowners
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Anyone who doesn’t want their family to pay for their funeral
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In any of these situations, your untimely death will leave behind someone who needs your care or ongoing financial obligations.
What You Need to Know
Grassroots Insurance Services can help you select the best life insurance coverage for your needs. There are several different types of life insurance products available – the most common include:
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Term Life 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 (whole) 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.
Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.
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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.
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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.
What type of life insurance is best for you? Talk with the team at Grassroots Insurance Services. We can assist in identifying the best protection for you.
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Advantages of Life Insurance
Having the right life insurance is essential to planning for your present and your future. Not only can life insurance provide assurance for your family after you are gone, many life insurance options offer other benefits and investment opportunities you can take advantage of while you are living.
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Life Insurance Death Benefit - When you pass away, your life insurance provides income (tax-
free) to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
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Living Benefits - The cash value growth of a permanent (whole) 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.
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The right life insurance coverage for each and every one of our customers is unique. Talk with the Grassroots Insurance Services team today to find out how to protect your family and your future with the right life insurance.