quotes on term life insurance - 4 September 2013 - insurance

quote on term life insurance

Hyers Associates

Life Insurance Quotes

Get a Quote » Life insurance is a valuable estate planning tool providing peace of mind for individuals, families and employees. We provide online quotes on term life, whole life, universal, equity indexed and final expense insurance from several highly rated and trusted companies.

Some of our most affordable providers include Banner Life, Genworth, ING, John Hancock, MetLife, Minnesota Life, Mutual of Omaha, Prudential, Transamerica and West Coast Life, but we represent several others as well.

Individual, Family And Group Life Insurance Quotes

Individuals, families and employer groups purchase life insurance policies for many reasons.

The most common reason is to ensure financial stability in the event of an untimely passing.

Policy benefits can be used to cover a home mortgage, college tuition, vehicles, debt and other liabilities while also providing immediate and reliable tax-free funds for a loved one living expenses.  There are few better vehicle for quickly providing liquidity in times of need.

Others use life policies to pay estate taxes, transfer wealth, avoid inheritance taxes or to cover a key employee or business interest. The favorable tax treatment of life insurance proceeds is advantageous in larger estates. Policy owners use tax free benefits to bequeath larger sums to their children, extended family, a favorite charity or a business partner.

Business Life Insurance Policies

Business owners utilize life insurance to ensure the availability of capital in times of need. Key employee and buy/sell plans provide immediate liquidity for business succession and transfer plans.

Few other assets create instant tax free dollars as well as life insurance when planning for business continuation. These funds can be used to keep businesses thriving in times of need or to purchase a partner share from his or her beneficiaries.

Term Insurance Life Coverage For Mortgage Protection

Term life insurance is least expensive and is typically purchased for a set amount of time usually 20 or 30 years. Families will purchase term insurance to protect a spouse and/or children in the event of an untimely passing.

Assuming the proper term has been purchased, there should be less need for significant financial protection after the term has expired. Most often this coverage is used for mortgage protection.

Whole Life Insurance Coverage

Consumers who purchase whole life typically maintain the policy for their entire life. The policy cash value will grow each year and loans can be taken out against the policy if needed.

A Whole life policy will never lapse as long as the premiums are paid on time. After enough premium payments, the policy will be considered paid up. Premiums will no longer be due and the cash value and death benefit can continue to grow for the insured and the beneficiaries.

Universal Life Hybrid Coverage

Universal life lets you choose the amount of coverage needed and can be adjusted if your insurance needs subsequently change. Universal life products can use an equity-indexed “engine” to potentially increase the policy value.

Variable insurance contracts will use stock and bond market instruments as their growth engine. These policies give consumers potential for a larger cash value and death benefit. Additional funds will accumulate tax deferred and can be used to help pay the cost of the insurance or to reduce premiums.

Single Premium Life Policies

Single premium life insurance  is a tax efficient alternative to annuity plans, certificates of deposit, or stock market investments. Using SPL, you can deposit a predetermined lump sum into a life contract. An immediate death benefit is created that passes income tax free to a named beneficiary, charity, or funeral home.

The death benefit will vary depending on amount deposited, age, gender and overall health of the insured. The contract offers immediate cash value that increases through the life of the policy. Additionally, SPL can avoid state inheritance and federal estate taxes. In many cases, the value of the estate will increase substantially and efficiently when compared to other financial products.

Life products have several options which will ultimately affect the overall value of the policy to you while you are living (cash value) and the value to your beneficiaries at your passing (death benefit). Therefore, it is important to make sure you and your agent understand exactly what benefits you are expecting from your life insurance policy.

Request Quotes And Illustrations

Our independent agency provides life insurance quotes online and direct from several affordable and highly rated carriers. We can also help you determine suitable policy types and amounts to fit your needs and budget.

Contact us today for a quotes, advice and information.

quotes on term life insurance

Article Source: http://www.ohioinsureplan.com/insurance/life-insurance/

quote on term life insurance