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Life Insurance
GET LIFE & HEALTH’s Life Insurance will protect your estate and your assets with easy-to-understand and straightforward investment vehicles that create financial security at retirement. We use proven strategies and quality products, meeting your specific needs with our one-on-one process to analyze your unique situation.
Life insurance provides either a stated sum or a periodic income to your designated beneficiaries upon your death. Certain life events such as marriage, the birth of a child, or a change of jobs trigger the need to buy or add life insurance. Deciding that you need life insurance is the first step. The next step, choosing what kind of life insurance, is where we can help. We offer a variety of policies to fit a variety of needs.
Term Life
Term Life insurance provides protection for a specific period of time, usually 5, 10, 15, or 20 years, and pays the benefit only if the loved one passes away during the term. If you are interested in short term coverage or coverage for a specific need such as college tuition or purchasing a home, Term Life insurance will suit you. It is also an affordable option for young people buying insurance for the first time. Term Life insurance does not build any cash values and can get more expensive as you get older.
Mortgage Term Life
Mortgage Term Life insurance is a life insurance policy covering a mortgagor. The benefits from this policy are intended to pay off the balance due on a mortgage upon the insured’s death. It provides level premiums with a decreasing death benefit.Return of Premium Term LifeWorks just like traditional term life or mortgage term life except better – it returns all of your money in a tax-free lump sum at the end of the term.
Universal Life
Universal Life insurance is similar in design to Term Life insurance but has an additional feature that allows you to put extra funds into the policy over and above the life insurance cost. These excess funds are entered into an interest-bearing account where they grow on a tax-advantaged basis. You may accumulate significant cash value over the years and, in some circumstances, borrow the appreciated funds without paying taxes on the borrowed gains. As long as the policy stays in force, the borrowed funds do not need to be repaid; however, interest may be charged to your cash-value account.
In addition to the above mentioned, GET LIFE & HEALTH introduces a NEW Life Insurance with Living Benefits. These Life insurance plans will pay up to 90% of living and medical expenses of patients who have had Cancer, Heart Attack, or Stroke. Some of them will also pay up to 24% annually for those suffering from chronic illness, should they be unable to perform even two of the daily living activities. Many clients are choosing to replace their old plans with these new plans.
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