Finding the right Life Insurance products can be challenging in today’s insurance environment. Financial Solutions offers a complete line of individual life insurance products that are crafted to meet you and your family’s specific needs and we specialize in designing policies that include living benefits. We work with several different top-rated insurance companies, and will place your account with the company that will provide you with the coverage and benefits you want.
Financial Solutions can help you make sound, informed decisions about issues affecting your life, health and insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace-of-mind.
Life insurance from Financial Solutions can help you secure your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.
Financial Solutions believes that it is important to include living benefits on every policy. There are currently a handful of carriers that offer a full suite of living benefits on term policies and we represent most of these carriers.
Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 20 years. Other policy life periods are available, including 1 year annual renewable term.
Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.
Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.
For most homeowners, the mortgage is the single largest source of personal debt. Mortgage protection insurance is a specialized life insurance policy designed to pay off that debt in the event of your death.
Imagine the worst case scenario. A fatal accident today would force your loved ones to immediately experience financial hardship. On top of your final expenses, the mortgage is due, but your family has no way to pay it without your income. They haven’t even had enough time to grieve and now they have to deal with the impending tragedy of foreclosure.
Like most life insurance, mortgage protection, including living benefits, eases the financial burden of your loved ones. It is an affordable way of ensuring that your home is paid for no matter the circumstances. Cancer, stroke, heart attack, injury, death… your family will never be in jeopardy of losing its home as long as you put a custom mortgage protection insurance plan in place.
Whole Life Insurance
A form of permanent life insurance, whole life insurance features guaranteed premiums, guaranteed death benefits, and guaranteed cash value. Whole life insurance policies also give you the potential to receive dividends, which can increase the value of the policy when the insured is living or provide an increased death benefit for your beneficiaries.
Universal Life Insurance
Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments – i.e., the more you pay, the less time you will need to pay. Your premiums cover the insurance expense as well as the savings or investment element. The stated interest on the investment portion changes along with movement in interest rates as banks and other financial institutions make similar moves.
Indexed Universal Life Insurance
If you’re looking for a life insurance policy that offers a death benefit with cash value accumulation potential and protection against market-based losses, Indexed Universal Life Insurance (IUL) may be an option to consider. IUL is a type of permanent life insurance that offers two interest crediting options: 1) a guaranteed fixed rate of interest, and 2) interest based on the performance of an outside index, such as the Standard and Poor’s 500® (S&P 500®). A cap is typically placed on the credited rate of interest such as 14%, and a minimum 0% floor helps guard against market-based losses.
Guaranteed Universal Life
Guaranteed universal life insurance, also commonly known as a “GUL” policy, is something of a “hybrid” between term and whole life insurance. GULs offer the permanence of whole life insurance and the affordability of term insurance with level rates and premiums until age 90 or later.
Survivorship Life Insurance
Survivorship policies insure two lives, typically a husband and wife, under one life insurance policy and pays a life insurance benefit after the surviving insured has passed away. The life insurance benefit can be used to help pay estate taxes, estate settlement costs, or as a way to leave an inheritance to children and grandchildren.