LIFE INSURANCE
Plan for the unexpected.
For many of us your family is your life. There is no greater joy than watching your family grow, succeed, and enjoy their life. You’ve been there to help them with every phase of their life.
Something you may want to consider is making sure that their needs are taken care of if something unexpected happens to you.
At Van Leer & Edwards Insurance Services, we know that life insurance is one of the most valuable investments you can make. It provides protection for your loved ones by providing financial security to them in the event of your passing.
A life insurance policy can pay off debts, taxes, provide money for mortgages, or provide capital for your business. We understand that as your life changes, so will your financial and insurance needs. It’s best to meet with one of our life insurance specialists to formulate an option that’s perfect for your circumstances.
Protect what matters most in your life with a life insurance policy from Van Leer & Edwards.
LIFE INSURANCE COVERAGE OPTIONS
No one likes to think about death, but having a properly formulated life insurance policy is part of having a sound financial plan. At Van Leer & Edwards, we can make sure your loved ones are financially stable in the event of your passing. We offer several types of individual life insurance plans that would give you and your family peace of mind.
Term Life is the simplest and least expensive option. Term life policies provide coverage at a fixed rate and for a specified period of time. It’s used to cover the financial responsibilities of the insured and is only paid out to the beneficiary of the policy if the insured were to pass away during the specified term. There are two types of term life insurance policies:
- Annual Renewable Term – Purchased for a period of one year and the benefit will only be paid if the insured were to die during that term. There is also an option to renew after the one-year period.
- Level Term Life – This guarantees a fixed premium for a given time period (usually in 10, 15, 20, or 30-year increments). Your premium will be based on your age, coverage options, and policy term.
Whole Life guarantees a benefit for the lifetime of the policy as well as a cash value account for savings. The premium remains the same throughout the duration of the policy. Any payments above your premium are credited to a savings account, which has a fixed interest rate.
Life insurance policies can be a valuable component to your overall financial portfolio. With a variety of options, it is best to consult with one of our experts. We’ll tell you if a life insurance policy makes sense for you and which one would be most beneficial.
In the event of an untimely death, family income can be drastically reduced while expenses begin to increase at an overwhelming rate. The largest of these bills is generally the home mortgage.
Mortgage protection insurance is a simple, affordable way to safeguard your family by helping to pay off a mortgage. This form of insurance allows your family to retain their home in the case of death or disability.
Often times the estate taxes on one’s wealth in the event of a spouse’s passing can be significant. A second-to-die policy (also known as survivorship insurance) is a joint policy that covers the lives of two people where the death benefit is not paid until the passing of the second insured person.
Federal tax laws allow you to leave an unlimited amount of personal assets to your surviving spouse. This allows you to postpone estate taxes until the death of the second spouse, which can leave beneficiaries with an even larger estate tax.
A second-to-die policy gives your beneficiaries the financial help to pay off your estate taxes without having to use their personal assets. This policy also enjoys a lower premium. Limitations do apply. If you feel that you or your beneficiaries would benefit from this type of policy, call Van Leer & Edwards today to discuss your options.
In the rare case that you become sick or injured and can no longer work, disability income insurance will pay your bills and keep your family out of financial trouble. A disability insurance policy will usually pay between 50-70% of your income so that you can remain financially secure in difficult times.
Disability insurance policies vary by duration and amount. They can be a great safety net for you and your family. Call your insurance specialist at Van Leer & Edwards today to learn more on how disability insurance can provide you protection from financial harm.
Long-term care insurance helps provide for the medical expenses and living costs for those who can no longer take care of themselves without assistance or care. Long-term care can be expensive and is often times not covered by basic health insurance, Medicare, or Medicaid. Our long-term care insurance options can protect your family’s finances against costs associated with:
- Home Care
- Assisted Living
- Adult Daycare
- Hospice Care
- Nursing Homes
- Respite Care
You must meet certain criteria to qualify for long-term care insurance. Talk to a life insurance professional at Van Leer & Edwards today to see if you should add long-term care to your current life insurance policy.
Having a comprehensive benefits package is good for both current and future employees of your business. At Van Leer & Edwards we offer a variety of flexible life insurance options for your group insurance plan. As the business owner, you’ll be able to enjoy the financial advantages of income tax deductible premiums and life insurance protection at a low group rate.
Contact our group insurance specialists today to see how we can help your business provide a comprehensive group plan for you and your employees.
Many companies have a person on staff whose expertise and talents are extremely crucial to the company’s ongoing success.
Key person insurance provides financial support to business owners in the event that you lose an employee that is essential to your business’s day-to-day operations. This will help cover you as you look for a suitable replacement and affirms the importance of the talent that he or she brings to the business.
The benefits that are built into a key person insurance policy are:
- Coverage that acts as a business asset for enhancing your company’s creditworthiness
- Cash value of the policy that may be available to your business as a loan if needed
- A policy that can be converted to a retirement bonus for the key employee
The professional and knowledgeable life insurance specialists at Van Leer & Edwards are dedicated to providing insurance solutions that fit your business’s needs. Call us today to see how we can help your business!