The sudden loss of a loved one can be devastating to a family. What can compound that loss is losing the income that person has been providing and having no plan in place to compensate for it. With the proper life insurance you can ensure that you and your loved ones will always be financially secure.
Life insurance can help with:
- Making mortgage or rent payments
- Providing income to your family
- Final expenses
- Transferring an inheritance to your loved ones
- Paying for real estate or inheritance taxes and costs
- Business continuation
- Supplemental college funding
- Supplemental income.
Finding the right fit:
A good life insurance policy is a key to any financial plan. Here at Speck Insurance we offer:
Term Life Insurance
Instead of a premium that stays the same for a specific period, with term life insurance you get a tax-free death benefit, which is why it is probably one of the most popular forms of life insurance. So, if something happens to you, your family can keep paying for the things your income provided with help from the benefits of your term life insurance policy.
- Maximum protection for a low price
- Provides required protection for you family
- The ability to convert to a permanent life insurance policy if your needs change
- Not a permanent life insurance solution
- Potential for dramatic increase in premiums once term ends
- The older you are the more expensive it gets
- Doesn’t build cash value
Permanent Life Insurance
There are a variety of permanent life insurance options available to help meet your needs, including whole life and universal life insurance policies. Along with paying a guaranteed death benefit to your beneficiaries, these policies may offer the potential for tax-deferred growth, the ability to take withdrawals or loans and substantial tax benefits.
Whole Life Insurance
- Level premiums over the entire life of the policy
- Guaranteed cash value accumulation
- Potential for excess interest credits in some policies
Universal Life Insurance
- Cash value grows at an interest rate set quarterly
- Flexible and death benefits based on your policy’s minimums and maximums
Keep in mind that as your life changes (for example, marriage, and birth of a child or a job promotion), so will your life insurance needs. Life insurance has fees and charges, including costs of insurance that vary based on the insured person’s gender, health and age.
With so many options, it can be hard to know what choice to make. Contact us today and your dedicated, Speck Insurance agent will help you choose the policy that is right for you and your situation.
Product, coverage, discounts, insurance terms, definitions and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Speck Insurance. Such products, coverage, terms and discounts may vary and exclusions may apply.