Life Insurance

Life changes – so should your policy

For each of our neighbors, the right life insurance will be unique for you and dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current needs. Some life transformations that may require a policy “tune-up” and our help at Above All Insurance include:

  • You recently married or divorced

  • You have a new child or grandchild

  • You have opened or expanded a business

  • Your health or your spouse’s health has deteriorated

  • You are providing care or financial assistance to a parent

  • Your child or grandchild requires assistance or long-term care

  • You recently purchased a new home

  • You are planning for a child or grandchild’s education

  • You are concerned about retirement income

  • You have refinanced your home mortgage in the past six months

  • You or your spouse recently received an inheritance

  • You have a sizable estate

 

Generally, age and health are the most important factor in the premium you will pay. Although you can purchase a policy at any age, the younger you are the more affordable the policies will be.

All life insurance policies are designed to pay a benefit when someone dies. The two most common types of life insurance are Term and Whole (or Permanent) policies.

  • Term Life Insurance
    Term life insurance provides protection for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance, and is available in varying time periods with fixed premiums.  You are able to get policies for up to 30-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

 

  • Whole Life Insurance
    Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity, as many whole life insurance policies also build cash value over time.

 

  • Universal Life Insurance
    Universal life is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.

  • Final Expense​​

      Insurance is an insurance policy used to pay for burial expenses and funeral services when the named insured dies. Such a              policy helps ease the financial burden placed on a family when a loved one dies.