Bob Hicks Financial Services- Helping clients look at their financial picture, one detail at a time:
Taxes, Insurance, & Retirement.
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Life Insurance
Term Life Insurance
Guaranteed Level Term Life Insurance – The amount of insurance purchased will provide the desired coverage for specific amount of time, such as 10, 15, 20, 25 or 30 years at a level premium for the chosen period.
Universal Life - These policies are designed to be more flexible than other permanent Life Insurance. You are still guaranteed a death benefit for the duration of the policy as well as savings that accumulate cash value at a guaranteed interest rate, but the flexibility of a Universal Life plan allows you to change certain aspects of your plan to accommodate life changes.
Whole Life - A Whole Life policy guarantees a death benefit for the lifetime of the insured as well as a cash value account for savings. Your premium and amount of life coverage remains constant throughout the duration of the policy.
Final Expense (Burial Insurance)
Simplified Issue Whole Life – Final expense coverage for clients that have minor health problems. The amount of coverage and the premiums stay the same for the life of the insured. No medical exams are required.
Amounts of coverage range from $2000 to $25,000.
Guaranteed Issue Whole Life – Final expense coverage for individuals with major health problems. The amount of coverage is reduced for the first 2 years and then afterwards remains level and premiums stay the same for the remainder of the insured’s life.
Purposes to Purchase Life Insurance: To provide Money when your family needs it most.
*Cash to pay for funeral and related expenses.
*Funds to pay off debts.
*Reserves to continue income to spouse during adjustment period.
*Capital to pay off mortgage or continue rent payments.
*Resources to provide for children's education.
*Money to provide additional retirement income to spouse.
* Capital to give directly to your church or favorite charity.
Answer these 3 questions below.
- How Much Life Insurance Coverage Do You Need?
- What type of Life Insurance coverage do You Need and for how long do You need the coverage?
- How many dollars a month can You afford to pay for this coverage in your budget?
Use the calculator below to give you a good estimate based upon Your wants and needs:
http://www.lifehappens.org/insurance-overview/life-insurance/calculate-your-needs/
Give me a call at (731) 220-1364 or e-mail me at bobhicksfinancial@hotmail.com for more information!
Get a free no obligation life insurance analysis and quote.
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