Get peace of mind!
Get peace of mind!
Life insurance is an important part of your financial plan. It’s a way for you to protect and provide for your family in the event of your death. With so many different types of life insurance available, it can be overwhelming to choose a policy. Read on to learn how to choose a life insurance policy that fits your needs and goals.
If you only know the basics of life insurance coverage, you probably know that life insurance policies provide a death benefit to one or more beneficiaries after the policyholder passes away. This death benefit is typically a lump sum of money that the beneficiary can use to pay end of life expenses, mortgage payments, debt payments, living expenses or any other needs. The death of a loved one comes with emotional strain and sadness, but it can also come with financial strain. Life insurance death benefits can alleviate some of that financial strain.
To begin choosing a life insurance policy, you need to know what types of life insurance are available. No matter your needs, goals, life stage, family dynamics or budget, there is a life insurance option that will be a good fit for you. Here are some common life insurance types and how they compare to one another.
Some view life insurance as something they don’t need to think about until they’re older, but life insurance can get more expensive the older you are. The recommended time to buy life insurance is when you’re 30-40 years old. There are many reasons to get life insurance that apply no matter what life stage you’re in. Life insurance protects and provides for your family — in life and in death.
Not every life insurance policy has a bunch of bells and whistles and extra features — many provide the basic, traditional death benefit. Let’s take a look at some of the other benefits of life insurance, including some lesser-known benefits of indexed universal life insurance.
If you only know the basics of life insurance coverage, you probably know that life insurance policies provide a death benefit to one or more beneficiaries after the policyholder passes away. This death benefit is typically a lump sum of money that the beneficiary can use to pay end of life expenses, mortgage payments, debt payments, living expenses or any other needs. The death of a loved one comes with emotional strain and sadness, but it can also come with financial strain. Life insurance death benefits can alleviate some of that financial strain.
In addition to traditional death benefits, some life insurance policies also provide living benefits. Life insurance living benefits can help provide financial support while the policyholder is still alive. The following are a few benefits of life insurance that you can take advantage of while you’re still living.
Some life insurance policies can be used as a tax-advantaged retirement planning option — this is one of the key benefits of indexed universal life insurance. Indexed universal life insurance products work in a way that allows policyholders to access some of their cash value before death, and these withdrawals are generally tax-free.
Some life insurance policies, such as indexed universal life insurance, offer the opportunity to include living benefits to help with expenses like long term care. The average cost of long term care can easily exceed $100,000 per year, so preparing for that potential expense is always a good idea.
If you have questions or want help figuring out how to choose a life insurance policy, meet with a qualified financial professional. Grand Guillory is a Bay Area life insurance agent with over 18 years of experience in the industry. His goal is to get to know your story, your family, your needs and your goals in order to help you choose the product that is the best fit for you.
To begin choosing a life insurance policy, you need to know what types of life insurance are available. No matter your needs, goals, life stage, family dynamics or budget, there is a life insurance option that will be a good fit for you. Here are some common life insurance types and how they compare to one another.
Term Life Insurance
Term life insurance is a policy that lasts for a set number of years (the term) as long as the premium is paid. Once the term ends, the coverage ends. Term policies are typically the most basic and most affordable life insurance policies. Features of a term life insurance policy include:
Whole Life Insurance
Whole life insurance is a policy that does not expire after a certain number of years. Whole policies offer coverage for the life of the policyholder. Whole life insurance is a traditional form of permanent life insurance. In addition to coverage that never expires, whole policies offer these features:
Universal Life Insurance
Universal life (UL) insurance policies are a flexible form of permanent life insurance but also include some of the features of a term life insurance policy. People with universal life insurance policies enjoy features such as:
Indexed Universal Life Insurance
Indexed universal life (IUL) insurance is a version of universal life that combines death benefit protection with the opportunity to grow cash value through an account that credits interest based upon the upward movement of stock market indexes — without the risk of investing directly in the market. Because of the many features and benefits of indexed universal life insurance, we frequently recommend these policies. IUL policies have features like:
Grand Guillory is a Bay Area life insurance agent with over
18 years of experience in the industry.
His goal is to get to know your story, your family, your needs and your goals in order to help you choose the product that is the best fit for you.
Grand is licensed in California as well as multiple states and serves clients across the US. Grand works with individuals and families in and around:
In addition to being a trusted Bay Area life insurance agent, Grand also partners with employers to provide group voluntary benefits options. He also helps people explore annuities and 401(k) rollover options as they make financial planning decisions.
No matter where you’re at in the process of exploring your life insurance options, Grand would love to meet with you to help you understand which products may be the best fit for you. To reach Grand for a no-obligations conversation, give him a call at 925.584.6479, send an email at grand.guillory@gmail.com or schedule an appointment using the contact us link above.
Fill out the form with any questions you have about finding the coverage that's right for you!
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