Make sure your family is taken care of in the future by getting the correct life insurance plan.
Don't gamble with your family members' future. Having an appropriate life insurance policy is essential when it comes to providing for your and your family's future. Life insurance can help you keep the pledges you have made to your family even after you are gone.
Cornerstone Insurance Group can help you find the right life insurance policy for you and help ensure that your policy continually meets your needs. Contact us today to get started.
Life Changes — So Should Your Policy
The right life insurance policy will be unique for you and dependent on your personal and financial needs.
Your life insurance coverage may need to change as your circumstances change in order to meet your current needs.
Some life transformations that may require a policy tune-up include the following:
- You may have recently married or been divorced.
- You've welcomed a new child or grandchild into your family.
- You've started or expanded a company.
- Your or your spouse's health has deteriorated You are caring for or financially supporting a parent
- Your grandchild or child needs help or long-term care.
- You recently bought a new house.
- You're making plans for the education of a child or grandchild.
- You're worried about your retirement funds.
- In the last six months, you've refinanced your home mortgage.
- You or your spouse received an inheritance recently.
- You have a substantial estate.
Common Types of Life Insurance
There are several different types of life insurance policies available — the most common include the following:
- Term life insurance: Provides coverage for a specific period of time, such as 10, 20, or 30 years, and pays out a death benefit if the insured dies during that time.
- Whole life insurance: Provides coverage for the entire life of the insured, and includes a savings component that accumulates cash value over time.
- Universal life insurance: Similar to whole life insurance, but offers more flexibility in terms of premium payments and death benefits.
- Variable life insurance: Allows the policyholder to invest the cash value of the policy in various investment options, such as stocks or bonds.
- Indexed universal life insurance: Combines elements of universal life insurance with investments tied to a stock market index, such as the S&P 500.
- Final expense insurance: A type of life insurance designed to cover end-of-life expenses, such as funeral costs or medical bills, with a smaller death benefit than other types of insurance.
- Group life insurance: A type of life insurance provided by an employer or organization as a benefit to employees or members.
So what type of life insurance is best for you? Talk with the team at Cornerstone Insurance Group, Inc. today at (352) 498-0865. We can assist in identifying the best protection for you.
Advantages of Life Insurance
Not only can life insurance provide peace of mind for your loved ones after you pass away, but many policies also include additional benefits and investment opportunities that you can take advantage of while you are still alive.
Advantages of the life insurance death benefit: When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can help provide security for your business as well, by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.
Advantages of Living Benefits: The cash value growth of a whole life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.
The right life insurance coverage for each and every one of our neighbors is unique — talk with us today to find out how to protect your family and your future with the right life insurance.
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It can seem complicated and confusing when choosing the best plan for your needs. Fill out the form below and we'll contact you to discuss all your available options.