What would happen to your family in the event of an unexpected death? At PFG, we provide you with a capital needs analysis to help determine the financial situation your dependent survivors would inherit. If our analysis reveals that life insurance is recommended, we evaluate and discuss with you various strategies (e.g., term, universal, whole life) to help determine a cost-efficient insurance option.
Your family is your top priority. While your financial needs, goals and dreams will change, making sure your loved ones are protected will always be important. Life insurance can help provide confidence, knowing they’ll be okay financially.
While nothing could replace you, life insurance can ease the financial burden caused by an untimely loss. Life insurance provides a tax-free death benefit that your beneficiaries can use to pay your final expenses, reduce debt, cover medical bills and pay everyday living expenses like childcare, groceries and rent or mortgage payments.
Life insurance proceeds can also help your loved ones maintain their lifestyle and help build their future – such as continuing a hobby, funding a college education or saving for retirement.
Simply put, life insurance is a policy that will provide benefits to your chosen beneficiaries upon your death. If your death occurs during the coverage period of your selected policy, the people you specify as beneficiaries will receive benefits from the policy either as a lump sum or through flexible income payment options. These benefits are paid directly to your beneficiaries, so there should be no additional costs or delays in receiving the financial benefit you’ve secured for them.
Life insurance is an essential part of your financial well-being. It’s also great at providing peace of mind for the future. But did you know it can provide so much more than that? Life insurance provides benefits you may not be aware of. A lot goes into choosing life insurance coverage – policies are not one-size-fits-all.
Today’s life insurance policies can do more than ever before – including offering income to live on if you become ill. Of course, there are some rules around how these policy features work but having the option to use your life insurance while you’re living can ease your mind and your financial burden if the unexpected happens. You should discuss these different benefits with your advisor or agent.
With the right type of policy, you may also be able to use accumulated cash value in the account to finance a college education, fill in the gaps of your retirement income, purchase a home or pay other expenses. We offer three types of life insurance, term life, whole life and universal life. Each serves as protection for your loved ones, but differs in price and coverage characteristics. No matter which type of coverage you choose, life insurance premiums are almost always lower when you’re younger and healthier, so don’t wait!
Term life is an affordable choice that generally provides coverage for a set period of time. The premiums – or regular payments you make– are the same throughout the specified time period. Term policies aren’t savings vehicles and don’t grow in value.
Permanent life insurance may provide coverage for your entire life and offers the potential to accumulate a tax-free cash value. This cash value can be used on a tax-preferred basis throughout your lifetime for expenses like travel, college tuition or supplemental retirement income.