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Life Insurance

Powerful ways life insurance can protect your dreams today, for tomorrow.

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Life Insurance 101

Life insurance is so much more than just financial security for your family. There are many ways life insurance can solve problems and protect dreams.

Individual life insurance is arguably the biggest investment you can make in your loved ones’ security. It’s a complicated field, but don’t let that put you off. We’ll be happy to talk you through the options.

First, you’ll need to determine the type of life insurance you want to buy, with the most common types being term life insurance, whole life insurance and universal life insurance.

To put it very simply, with term life insurance you pay regular premiums for a set period and the policy only pays out if you die during this period.

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Which insurance solution is right for your family?

Explore how having the right insurance can protect you from the unexpected.

Life
Providing for Your Family
Risk Factor

Raising a child can be a rewarding life experience, but it is also very expensive. It costs hundreds of thousands of dollars to raise a child to age 18, with college tuition, fees, room, and board resulting in another potentially enormous expense. If you were to die tomorrow, would funds be available to provide for food, clothing, day care, and educational expenses for your child?

Solution

Having life insurance could secure the future for your children if you have an untimely death. With a life insurance policy, there could be enough income to help pay for everything your child might need while growing up.

Mortgage Payments
Risk Factor

After your death, any outstanding debt and financial obligations do not disappear. Your home is probably the costliest and most significant property you own. A mortgage payment is a large burden for a spouse or partner to carry.

Solution

A life insurance policy would allow your spouse or children to pay off your outstanding debts and spare them the stress of making monthly payments on the home.

Auto Payments
Risk Factor

Many families lease or finance their automobiles these days. If the primary earner in the family were to die, the family could be left with outstanding car payments for years to come.

Solution

A life insurance policy would allow your spouse or children to pay off your outstanding debts and spare them the stress of making monthly payments on your car(s).

Funeral Costs
Risk Factor

An average funeral can cost tens of thousands of dollars, and that's without unnecessary options or luxurious services. A death in the family is stressful enough; why add the hefty bill of a funeral to that stress?

Solution

A life insurance policy can easily cover the cost of a funeral. Your family will be able to think of you and have peace of mind without being burdened by funeral costs.

Protecting Your Retirement Savings
Risk Factor

Once you retire, you will be living off social security, and if you are lucky to have them, a pension or retirement fund, too. But what if the surviving spouse has been relying on you to fund retirement for the couple? Premature death of an earner can affect sources of retirement benefits such as Social Security.

Solution

Life insurance can help support a surviving spouse during their retirement.

Protecting Your Small Business
Risk Factor

If you passed away, would your business suffer? There are many complications and financial issues that can arise due to the death of a business owner. Many people overlook this predicament.

Solution

A life insurance policy can keep a business moving along even during tough times, such as the loss of the business owner/partner. Key person life insurance is payable to the company and provides money for training and hiring of a new employee. A buy-sell agreement, funded by life insurance, allows the other partners in the business to buy the deceased’s share of the business, which will provide money for his or her family.

Spousal Support / Income Replacement
Risk Factor

Many people mistakenly think that they don’t need life insurance if they don’t have children or if their children are grown. However, your financial responsibilities fall to your family when you are gone.

Solution

Life insurance can replace the income you would usually bring in and help support your spouse or adult children, ensuring your loved ones are able to maintain the lifestyle they're accustomed to.

Let’s look at the two main types of life insurance policies and how you would use them:

Term Insurance: Used for limited-term protection (like a mortgage)
Permanent Insurance: For needs that last indefinitely (like income replacement)

6 Ways to Use the Power of Life Insurance:
  • Financial security for your loved ones
  • Endow a favored non-profit
  • Income after your retirement
  • Access to policy benefits due to chronic illness
  • Tax-free policy loans
  • Small business continuation
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Flint Township, MI Office
4508 Beecher Road
Flint Township, MI 48532
Also, providing service throughout Michigan in Grand Blanc, Swartz Creek, Flushing, Fenton and surrounding counties.
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