Look into a Whole Life Insurance policy with Team today
As a parent or spouse, you have made a commitment to take care of your loved ones and provide for your family. If you have a business, you will also want to make sure that it is taken care of. In the event something happens to you, who is going to take care of your business and your family? If you are thinking about these questions, Whole Life Insurance may be a great option for you to be certain that your business or your family do not take big financial losses after you are gone.
Life Insurance provides funds to help your family pay off your debts and expenses, meet daily expenses, including rent, utilities, or mortgage payments, and provide retirement fund for your spouse and college fund for your children. Whole Life insurance is the most popular type of permanent life insurance policies. Your premiums will remain the same throughout the duration of the policy, and you have an option to choose how often you pay the premiums, be it monthly, quarterly, or yearly.
Things to Consider:
Whole Life policy earns a fixed rate of interest, so you can predict the cash value of your policy over time. Since Whole Life Insurance is a long-term commitment, think about your ability to pay the premiums over the duration of the policy and make the decision accordingly. Our experienced agents at Team Insurance will help you choose the policy tailored to your specific needs.
Whole Life Insurance can be a useful tool for you to ensure financial protection for the future, with its advantages and guarantees. If you would like to know more about the available coverage options, contact our licensed insurance agents who will help you to discover available options for Whole Life Insurance coverage.
There are many reasons why you might consider Whole Life Insurance policy over Term Life Insurance, including having the same payments every month. Moreover, there are Whole Life policies that can be all paid for after a particular amount of years, and you will not have to worry about the payments anymore. Whole Life Insurance is predictable, but not very flexible and not customizable. Keep in mind that your life goals may change and make an informed decision about your life insurance policy.
Popular Coverage Options:
Access to Cash Value
If you have a Whole Life Insurance policy, it allows you to take a loan from the cash value of your policy. In case you take a loan, you will have to repay it with interest, and in the event of death, the amount of loan will be subtracted from the benefits received by the beneficiaries.
There is no annual tax on the gains you receive from Whole Life Insurance policy. Moreover, the death benefits are federal and state tax free for the beneficiaries. If you have any questions about particular policies, speak to our representatives and we will help you make an informed decision about your policy.
Spouse and Child Rider
These features are optional, but Whole Life Insurance policies allow you to insure your spouse or your children on the same policy. Our insurance professionals will explain the standard and optional features on the policy you are considering.