Term life insurance

Term life insurance is the most traditional and best-known form of personal coverage, paying out to the policyholder’s dependents in the case of death. The main advantage of this insurance is that it is lower priced initially than other types of insurance, but it offers few other benefits.

This type of coverage typically operates for a fixed term of 10 to 30 years, depending upon the policy, and pays out the benefit amount if the policyholder dies.

Permanent Life Insurance

Permanent life insurance offers coverage for a lifetime, with a guaranteed payout upon death.

You choose the death benefit that will be paid upon death. You make payments in to the policy fund. So that any amount you pay into the fund on top of the premium is invested and building up a cash sum over time. This cash investment enables the value of the death benefit to increase, or allows loans to be taken against the policy, with many people seeing this as a viable income stream for their retirement plans.

Universal Life Insurance

Universal life insurance offers an extremely flexible middle way, combining life cover with the chance to build up an investment income, at a lower cost than fixed permanent life cover.

This type of cover can be very flexible and allows payments be varied, depending upon the current financial circumstances of the policyholder. Money paid over and above the normal premium can be used to either increase the cash value or increase the death benefit.

Summary

The three types of policies: TERM, UNIVERSAL, and PERMANENT insurance offer different benefits depending upon the needs of the policyholder.

The most affordable option, a simple Term policy, offers temporary coverage, but no other investment potential, and is usually a prerequisite when taking out a mortgage or a large loan.

Permanent and Universal Life Insurance are more flexible, offering tax-free investment potential alongside the lifetime coverage, allowing money to be invested into the death benefits or the investment account.

It is always important to seek independent financial advice before committing to any major financial decision and to be aware of all the long term investment opportunities available.

One of the easiest ways for you to make an informed decision before you buy life insurance is to sit down with a Financial Advisor to evaluate your situation. A Financial Advisor can help you determine the type of insurance coverage that is best for your unique situation.

Question or concern about Life Insurance?

We’ll gladly answer any questions you have. Call us today!

(424) 247-1174
Angelica C. Jones
Financial Services Los Angeles

• assess your current financial situation.
• create a realistic plan to meet your financial goals.
• understand how to meet your financial and retirement goals.
• put your financial plan into action and monitor your progress.
• update your financial plan to grow with your changing needs and goals.

If you have any of these questions or concerns, you will benefit from a consultation with a Financial Advisor:

• Confusion about conflicting financial advice and options.
• Paying too much income tax.
• Not saving enough for retirement.
• Not sure where to invest money.
• Changes in life that affect your financial future, such as a career change, marriage, retirement, loss of a spouse, birth of a child, etc.
• Not enough time to attend to personal financial affairs.

Financial Advisors are licensed professionals with a broad background in finance. They can guide you through some important life decisions. They can help you manage the risk involved in making decisions that can paralyze some of us, such as:

• What kind of retirement plan do I need?
• Am I paying too much in taxes?
• How can I save money for retirement – tax free?
• How much life insurance do I need?
• How can I make sure my estate is left to family members, and does not depleted by probate court and government taxes?
• Can we afford college tuition for our children – and how do we save for this, knowing how much tuitions are spiraling?

Would you benefit from having professional advice when it comes to planning your financial future? A Financial Advisor is a partner that can help you understand your options and help you build and protect your assets.

A Financial Advisor can also help you evaluate different life insurance plans and help you determine which policy or product is best going to serve your own unique needs and budget.

To assess your financial position and learn about some of the ways in which we can assist you, call us to schedule an appointment. Evening hours are available, and we can meet in your home or our office.

We’ll gladly answer any questions you have. Call us today!

(424) 247-1174
Angelica C. Jones
Financial Services Los Angeles

First, ask yourself:
“If I died tomorrow, how much money would my family need?”

Insurance reduces risk and provides security for yourself and your family’s future. To know how much insurance you need, you’ll need to consider your lifestyle and what the possible risks that could affect it. When calculating how much life insurance you need, consider the following:

• Estate Expenses
• Funeral Expenses
• Mortgage
• Loans and Debts
• Replacing Annual Income (number of years?)
• Children’s education
• Resources available at death: Savings, Stocks, Mutual Funds, Retirement Funds, Life Insurance, and Other Assets

When you think of insurance, the first that comes to mind is auto and home insurance. Replacement of these assets in the event of damage can be very costly. Most people hold auto and home insurance policies.

Life insurance is essential to many families, giving extra security if the unthinkable should happen. The loss of a breadwinner is devastating enough, without having the added stress of worrying about how to cover the bills and mortgage.

Other types of insurance are equally important. Life events such as illness, accidental injury, loss of employment income, or a death in the family can affect family security. Yet these potential risks to your lifestyle can be reduced by the right insurance planning.

Changes in lifestyle also determine the types and amount of insurance you need. The amount of life insurance that you have will likely change throughout your life, depending on your life circumstances. Some of these changes might be getting married, starting a family, changing jobs or preparing for unexpected events.

To meet modern trends, life insurance providers also offer to act as an investment vehicle, building up a sum of extra equity over the lifetime of the policy. This can be withdrawn or borrowed against, and usually offers a tax-free sum on retirement or death.

Deciding on an amount of life insurance you should have requires careful consideration. A Financial Advisor can help you determine just how much insurance you need based on your age, your income, family circumstances and obligations, assets owned, and debts owed.

Question or concern about how much you insurance you need?

We’ll gladly answer any questions you have. Call us today!

(424) 247-1174
Angelica C. Jones
Financial Services Los Angeles