Question 1

What type of protection does life insurance provide?

Accepted Answer

Helps replace the income of a wage earner
Covers burial costs and other final expenses
Aids in the transfer of wealth or leaving an inheritance
Helps pay off a mortgage
Pays for home expenses
Pays for estate taxes or creates estate liquidity
Provides funds for college education

Question 2

Is life insurance expensive?

Accepted Answer

The average cost of term life insurance for a healthy 30-year-old is around $170/year.

Question 3

How do I decide what type and how much insurance I need?

Accepted Answer

There is no one-size-fits-all solution for life insurance. Every person's needs and budget are different, and the coverage you require will more than likely change as your circumstances change.

Question 4

What is the difference between Term and Permanent Life insurance?

Accepted Answer

Term policies provide coverage for a set time or term and build no cash value. They are less expensive than permanent policies with the same face value.

Permanent life insurance policies remain in effect until the policyholder's death or until they lapse due to non-payment. Most permanent life insurance policies also include a savings component that can build cash value over time.

Question 5

How can an agent help you with?

Accepted Answer

An agent can start with a financial needs analysis to help you identify your current financial situation. They will listen to your needs and goals and use this information to help determine the type of policy that may be right for you.

These are the areas that the analysis looks at:

Cash flow: Earn additional income and manage expenses
Proper protection: Protect against loss of income and protect family assets
Debt management: Consolidate debt and strive to eliminate debt
Build wealth: Strive to outpace inflation and reduce taxes
Emergency fund: Save at least 6 months of income and prepare for unexpected expenses
Preserve wealth: Reduce taxation and build a family legacy

Question 6

What financial strategies do we offer?

Accepted Answer

The key concepts and strategies listed below can help you get from where you are to where you want to be:

Financial needs analysis
Financial goal setting
Recommendations and implementation
Strategies for pursuing financial goals
Retirement planning
Estate preservation

Question 7

What business strategies do we offer?

Accepted Answer

Financial insurance strategies for you, your employees, and your business include:

Executive Compensation Program
Business Continuation Program
Retirement Strategies

Question 8

What personal strategies do we offer?

Accepted Answer

Retirement planning
Individual financial services
College funding plans
Insurance protection

Question 9

What is Indexed Universal Life Insurance?

Accepted Answer

This is a type of permanent life insurance; it is not a short-term savings vehicle. It should be purchased if you have the financial means to keep the policy in force for a longer period.

IUL policies offer:

Tax-free death benefit
Tax-deferred growth potential
Tax-advantaged withdrawals and loans
Guaranteed minimum interest rate based on the issuing insurance company
A premium bonus for rollovers
Income for life (pension)
Principal protection (no probate)

Question 10

What tax implications and advantages are there with an IUL?

Accepted Answer

The guaranteed death benefit passes to the beneficiary free from federal income tax
Policy premiums are not taxed and do not have any penalties
Transfers within the policy are not taxed
There is also the ability to take tax-free loans from the policy
Additionally, the indexed growth strategy ensures that you will never lose money when the market goes down

Question 11

Who are our providers?

Accepted Answer

Our agents have access to 85+ companies, including but not limited to:

Allianz
Prudential
Gerber
Athene
Mutual of Omaha
Everest
Nationwide
Transamerica
Pacific Life

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