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Our Life Insurance
Services...
How much life insurance do you
need? What type is appropriate? You should review your life insurance needs each
time you have a major life event. Here is what you need to know to properly plan
for your life insurance needs—to buy enough and to get the most for your money.
We represent many excellent insurance
companies that offer a variety of products to meet your individual requirements.
Our Life Insurance Services include:
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Life
Insurance Policy - 3 Types Defined:
Term Life Insurance
Term life is
the least expensive and most immediate way to provide a cash pay out for
your financial dependents at your death.
What
it does:
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It pays a
death benefit to the beneficiary you name that will: 1) cover your final
expenses, and 2) provide a lump sum that can be invested to meet the
ongoing needs of your dependents.
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It covers
you for the full amount of life insurance you choose for a specified
period of time.
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It can be
convertible and renewable depending on the policy.
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It
gradually increases annual premiums as you get older.
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It
traditionally works well to meet temporary insurance needs.
What
it doesn't do:
Whole life
insurance provides permanent protection for your dependents while building a
cash value account. With this type of insurance, the insurance company manages
your policy's various accounts.
What it
does:
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It pays a
death benefit to the beneficiary you name and offers you a low risk cash value
account and tax-deferred cash accumulation.
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It provides a
fixed premium which can't increase during your lifetime as long as you
continue to pay the planned amount.
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It allows the
insurance company to exclusively manage the cash value account in your policy.
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It provides
you the option to receive dividends from your policy or apply them to reduce
payments.
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It offers you
the right to withdraw from the policy during your lifetime.
What it
doesn't do:
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It doesn't
offer the account flexibility to invest in separate accounts such as money
market, stock, and bond funds.
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It doesn't
allow you the account flexibility to split your money among different accounts
or to move your money between accounts.
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It doesn't
offer premium flexibility.
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It doesn't
offer face amount flexibility.
Universal life
insurance provides permanent protection for your dependents and is more flexible
than whole or variable life.
What it
does:
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It pays a
death benefit to the beneficiary you name and offers you a low risk cash value
account and tax deferred accumulation.
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It allows you
to earn market rates of interest on your cash value account.
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It offers the
right to borrow or withdraw from the policy during your lifetime.
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It allows you
premium flexibility.
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It offers face
amount flexibility.
What it
doesn't do:
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It doesn't
offer you the account flexibility to invest in separate accounts such as money
market, stock, and bond funds.
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It doesn't
allow you the account flexibility to split your money among different accounts
or to move your money between accounts.
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To have an
agent contact you with a quote regarding any of the above services, please
visit our Quotes Page.
Have a
question?
Visit our
Contact Page or call
us at (586) 465-6171 Monday-Friday 8am to 5pm.
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Macomb-Gerlach is an
Independent Insurance Agency.
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