Walter O. Rogers Insurance Agency LLC
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LIFE INSURANCE

Individual and group plans

THE PEACE OF MIND KNOWING THAT IN DEATH YOUR FAMILY WILL NOT SUFFER FINANCIAL HARDSHIP

WHY LIFE INSURANCE

Upon the death of the insured, the policy's beneficiary is paid a death benefit. Typically life insurance protects the finances of one's family, but can also be used for:

  • Pay household debt
  • Funeral expenses
  • Child's education
  • Cost of childcare
  • Mortgage protection
  • Estate protection
  • Protect business key employee loss
  • Employment benefit
  • LIFE INSURANCE DEFINED

    Life insurance is an agreement between you and the life insurance company. You agree to make certain payments to the insurance company. The insurance company agrees to pay a sum of money to a person of your choosing if you die.

    LIFE - WHAT WE OFFER

    Selecting a life insurance policy is important to help protect your loved ones from the financial hardship a loss can cause. Budget friendly plans for as low as $15 a month can get coverage before a surprise medical issue prevents you from affording any life insurance at all.

    Life insurance tends to fall in two categories - permanent and temporary.

    TERM LIFE

    Provides temporary coverage for a specified term of years (ie. 5, 10, 15, 20, 25, 30, even 35 years). Does not accumulate cash value. Buys protection in the event of death and nothing else.

    Term Life insurance is a low-cost way for families to protect loved ones for a specified period of time at a level premium. If you live to the end of the term the policy expires and there is no cash value. For a slightly higher premium.

    RETURN OF PREMIUM (ROP) TERM LIFE insurance provides protection now with money back later. As long as you live to the end of the term and pay your premiums, you have the option to get your money back, tax free and guaranteed to be equal to the amount you paid in premiums.

    PERMANENT LIFE

    Protection for your whole life as long as policy premiums are paid. Includes ability to build cash value. Intially higher premiums then Term life, but more cost effective in the long run.

    You can choose a combination of Term and Permanent Life.

    The four basic types of permanent insurance are:

  • UNIVERSAL LIFE
  • VARIABLE UNIVERSAL LIFE
  • WHOLE LIFE
  • SURVIVORSHIP LIFE
  • Univeral is the most popular of the permanent life polices. Call us to discuss which type of life insurance best fits your needs.

     

    UNIVERSAL LIFE

    A permanent life insurance policy that provides both flexibility and financial advantage. It is considered an affordable way to secure a lifetime of coverage in an account that can earn interest and once insured, you can usually change the coverage amount and payment.Read More

    Choose a Premium to Suit Your Needs. You can choose to pay a lower or higher premium to suit your budget.

    Flexible Death Benefit: You can select plans that enable you to increase or decrease your death benefit amount to fit your changing needs.

    Zero-Interest Catch-Up Feature: With various universal life insurance programs, you don't necessarily need to pay the full monthly guarantee premium when you begin your policy. You can start with a lower premium and catch up the unpaid difference at any time - interest free - as long as the policy is inforce. Policy owners may catch up with interest at any time. There are other restrictions and the option to adjust may only be used once.

    Accounts Gain Value. Your universal life insurance policy earns interest, so it accumulates value over the years. And, the federal income taxes are deferred (based on current federal tax laws), so you aren't paying them annually.

    Tax-Free Benefits for Loved Ones. Generally speaking, your loved ones won't pay income taxes on the life insurance proceeds they receive. Universal life insurance plans are offered to meet life insurance needs and financial goals of many clients - including individuals whose focus is on death benefit protection for estate planning, retirement, and asset preservation purposes. We can provide you with easy to understand information to help you decide if this policy is right for you.&

    VARIABLE UNIVERSAL LIFE

    A flexible form of permanent life insurance. Includes ability to change within limits, the death benefit, timing and amount of premiums.

  • Option to invest in professional managed funds
  • Investments such as stocks and bonds.
  • Market growth potential but also risk of loss

  • WHOLE LIFE

    The simplest form of permanent life insurance. Includes death benefit, life long protection, fixed premiums and cash value.

  • More costly than Term, but guaranteed not to increase
  • No guaranteed dividends
  • Loans and withdrawals can reduce the death benefit

  • SURVIVORSHIP LIFE

    Covers two people (ie. spouse) under single policy, but provides a benefit only after second person passes away. This is an important part of estate planning, timed when estate settlement matters occur.