Protect Your Financial Future with Customized Life Insurance Coverage
Life insurance is a contractual agreement in which the insurer pays out the agreed death benefits to the named beneficiaries at the policyholder’s death. If you’re looking for cost-effective death benefit protection, life insurance can be a great option for you. You can also use a life insurance policy to pass on a legacy to your dependents, create an estate, or give a donation (gift) to your favorite charity. If you’re the primary income earner in your household, a life insurance policy is a good way to safeguard your dependents against financial hardship in the event of your untimely death. At Medicare Advisors, we will help you find a life insurance policy that suits your needs and budget.
We Protect What Matters Most
At Medicare Advisors, we have you covered at all times. Keeping in mind your unique insurance needs, we provide the following types of life insurance coverage that can be further customized to suit your budget.
Term Life Insurance
Term life insurance guarantees you, the policyholder, that it’ll pay a definite amount of death benefit if you pass away within a specified term. Once the policy’s term ends, you can either allow it to expire, renew it, or convert it to permanent coverage. At Medicare Advisors, our term life insurance experts can review your policy and advise you on the best course of action.
Benefits of Term Life Policy
- Helps provide for beneficiaries’ loss of income
- Provides extra insurance protection during your child-raising years
- Covers short-term needs and debts
- Can help pay off your family home’s mortgage
- Can pay for your kid’s college education
- In-built conversion guarantee
- Impermanent coverage without a drawn-out application process
- Premiums remain the same throughout the policy’s term
Whole Life Insurance
Whole life insurance remains active throughout a policyholder’s life unless the insured surrenders their policy or stops remitting premiums. A whole life insurance policy is a variant of permanent life insurance with a money-saving component – cash value. Policyholders can use the cash value as a source of cash, loans, or to pay for policy premiums.
Benefits of Whole Life Insurance
- Guaranteed death benefit (life insurance benefits are usually income-tax-free)
- Guaranteed level premium
- Comes with add-on benefits or riders that can help you tailor your coverage
- Permanent coverage with no drawn-out application process
- Immediate access to your principal amount
- The death benefit is instantaneously higher than your single premium
- Guarantees 100% return of premium
Universal Life Insurance
Universal life insurance is a type of permanent life insurance that comes with an investment savings component. Most universal life insurance policies allow policyholders to adjust their death benefits and premiums. These policies have two elements:
- Premium- amount to be regularly paid by policyholders for covering their risk
- Cost of insurance- the lowest amount of premium that policyholders need to pay to keep their policy active
Benefits of Universal Life Insurance
- Policyholders can choose their premiums and the amount of coverage
- Guaranteed death benefit (income tax-free)
- The accumulated cash value, under federal tax law, is tax-deferred
- You can access your cash value – Your cash value can supplement your retirement benefits, pay for your education benefits, as well as any of your personal needs
- Covers beneficiaries’ mortgage costs, loss of income, and educational needs
Get Customized Life Insurance Plans with Medicare Advisors!
Carrying a life insurance policy protects your loved ones by providing benefits that can help pay for their housing needs, debts, as well as ongoing living expenses. Your policy’s accumulated cash value can also be a source of cash and loans.
If you’re looking for “life insurance near me,” call us today at (702) 408-5801. We will help you find a cost-effective life insurance plan tailored to your needs.