Life Insurance Solutions

It’s a subject no one really wants to think about. But if someone depends on you financially, it’s one you cannot avoid. In the event of a tragedy, life insurance proceeds can:

Pay for Funeral Costs

Help Pay Bills for ongoing Living Expenses

Continue a family business

Finance future needs like your children’s education

Protect a spouse’s retirement plans

Types of Life Insurance

Life insurance has become a multi-purpose vehicle now as it continues to evolve and change to meet the needs of the consumer.  A life professional can help you use life insurance to meet goals now while you are living rather than be a policy that you don’t benefit from until after you are gone.  It is important to know that having an open and honest conversation with your insurance professional can help make sure that your goals or even your worries and fears are addressed.  Can you just buy life insurance without going through all the analysis and goal planning? Yes, of course but there is so much more that a life insurance plan can do!  Life Insurance can be used for Final Expenses or Burial, Pay off Debt, Build Wealth/create a Legacy for future generations, make a charitable contribution, help fund education expenses for children, survivor income for a spouse and even used for business to fund buy/sell agreements and insure key employees.

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Term Life Insurance

When you rent you sign a lease for a certain amount of time which is then renewable at the end of that term.  You continue to pay the lease amount each month but when you decide to end the lease, the term is over and you have to find a new place or make the decision to renew at a possible higher rate.  Term life insurance is similar in that it provides you the greatest amount of benefit at an affordable rate but only for a certain amount of time.  Term is a great solution for your working years.  With Advisers Excel we are able to quote your policy with multiple carriers so that you always get the best rate.  Watch this Video to learn more then contact us to review your solutions!

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Transitional Life Insurance

This is a specialty product that provides a blend of the best of both worlds from a Term Life and Whole Life product.  With a transitional life plan you can have the large face amount of death benefit during your working years and then it would automatically convert to a whole life policy during your retirement years.  This is a unique product that our agency is proud to offer and is a great solution for many families!  We use Pekin Insurance to underwrite this transitional life solution.

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Whole Life Insurance

When you buy a home (permanent life insurance) you own the policy your whole life, or while you continue to make payments on it.  However, it does not have a term limit on it and just as each time you pay your mortgage payment you build equity in the value of the home.  The same goes with a permanent life insurance policy.  Each time you make a premium payment a portion of the payment goes towards building a cash value in the policy.  And just as in the equity of a home, you borrow against that through a Home Equity Line of Credit, the same goes for Whole life insurance, you can borrow against the cash value of the policy.  Watch this Video to learn more then contact us to review your solutions! We use Illinois Mutual to underwrite for our Whole life and permanent life solutions

Employer Provided Life Insurance vs. Individual Life Insurances

By Davan Johnson | November 24, 2019 |

Some companies offer group life insurance, a few at no cost to the employee and several with a small cost.  With some group life insurance plans they are guarantee issue (G.I.) which means there is no health underwriting to qualify.  Most often companies will base the amount of life insurance you are eligible for on…

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