Life Insurance

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Life Insurance Helps Protect Your Family or Business

Life insurance helps protect the people you love financially from an unforeseen tragedy. Finding the right life insurance to meet your needs doesn’t have to be complicated or stressful. Benefits by Design is a full service life insurance broker, offering custom tailored life insurance plans for businesses and individuals. We can provide the expert advice and honest, direct answers you need to make the best decision. Whether you want to cover yourself, your family, or the people who keep your business going, we’ll help you find the right plan, at the right price.

Why Purchase Life Insurance?

Life insurance can be a solid addition to your long term financial plan.

Death Benefit– If you have a family, your life insurance provides much-needed, tax-free income to your named beneficiary or beneficiaries. These funds can be used to pay off a mortgage, college tuition, funeral expenses, or for just about any other purpose. If you own a business, your policy can help your partners buy out your interest and prevent a forced liquidation. It can also provide resources to replace a Key Person in your company if they leave their position unexpectedly.

Living Benefits– Depending on the type of life insurance you purchase, your policy may have a cash value, which can grow over time. You can take a loan out on its value to help pay expenses, such as the down payment on a home or college tuition.

What Types of Life Insurance are available?

Term Life Insurance

Term life insurance provides protection for a specified period of time, for example ten or twenty years. Term life insurance is generally less expensive than other types of life insurance, and it has a fixed premium. Business owners might select this type of policy to be in effect until the time they retire. For individuals, who are getting married, getting a new mortgage or starting a family, term life insurance protection will cover an unexpected death and create additional resources for those who need it most under the circumstances. Depending on the type of insurance you purchase, term life insurance is sometimes convertible to permanent life insurance.

Whole Life Insurance

Whole life is a permanent type of life insurance that remains in force for your entire lifetime, provided you continue to pay premiums. Many whole life insurance policies build cash value over time, so they can be turned in for cash, should your needs change. Families or business owners often choose Whole Life Insurance when they would like to build cash value in the policy over time. Many Whole Life policies are combined with a money market type of investment, and the policy pays a benefit, based on the type of investments made by the insurance company.

Universal Life Insurance

Universal life insurance is a permanent type of insurance that offers flexible premiums, although you will need to pay a minimum premium amount, or the policy will lapse.  Depending on the policy’s potential cash value, you may be able to skip a premium payment, if necessary. Families or business owners often choose Universal Life Insurance.

Let Benefits By Design help you purchase the right type of life insurance for your situation and needs. We are a full service life insurance broker.

To learn more, please call: (415) 524-8959.

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