Permanent Life Insurance Policies are essential to have in place for the future. They provide a safety net for you and your loved ones early in life and are the primary vehicles used to generate generational wealth by leaving behind a death benefit when you pass away. Starting a policy early is advantageous since the cost of insurance within these policies increases as you age. A common misconception is that you need a family and dependents to need life insurance. Find out how folks use permanent policies as their primary wealth accumulation vehicles and how powerful they can be! It's like buying cheap money for the future, especially when you're young.
Whole Life Insurance
Whole Life provides coverage for your whole life while accumulating cash that you can use with a fixed rate of return. Payments are fixed and never increase, and there is guaranteed death benefit. It is also a popular choice for those who use the Infinite Banking Concept (IBC), provides the most guarantees, but for this reason is also the most expensive form of life insurance.
Indexed Universal Life Insurance policies are flexible premium permanent life insurance policies that use indexing to help you capture the upside of the market while providing downside protection by eliminating market risk. Section 7702 of the IRS Tax Code states that proceeds from a life insurance policy, including the cash value in permanent life insurance products, receive favorable tax treatment. If structured properly for maximum cash accumulation, you can take advantage of the tax code to create a formidable stream of income later in life tax free, while still providing your family with a death benefit. We specialize in IUL's here at Community Life Agency. Find out if an IUL is right for you!
Final Expense policies are smaller whole life policies that are designed to help seniors cover their burial, funeral, and final expenses. Certain carriers offer upto $50k in coverage and provide coverage for folks upto the age of 89. We also work with carriers that provide coverage if you have cancer or are terminally ill. Whether you want to cover your funeral or leave a little extra behind for a loved one when you pass, chances are we can find you coverage.
Lets know more about Permanent Insurance? Visit us to understand better
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
Request a Quote
Get Personalized Insurance
Community Life Agency
We extend coverage to individuals and businesses in Allen Park, MI and surrounding areas.
