If your family would suffer financially from your passing, life insurance is for you. Life insurance can replace lost income, pay debts, cover funeral costs, continue a business, help with retirement – the financial options are endless. Business can also take out policies on key employees or use life insurance as collateral for a business loan from a bank or as a buy-sell agreement to make sure everyone makes their money back if someone were to prematurely pass.
TRUST IN CAREY INSURANCE
Term Life Insurance
Easily the most frequently asked about product at Carey Insurance Agency, term life insurance covers a person for a certain period of time – usually 10,20, or 30 years. If the insured were to die in that period, the beneficiaries would receive the payout.
Permanent Life Insurance
Using similar underwriting procedures, the insurance company will offer coverage with additional guarantees and benefits. Generally, as long as the premiums are paid as stated in the contract, the death benefit is payable to your beneficiaries regardless of how or when you pass away. Due to the complexity of these products and their expense – permanent products are not for everyone. However, there are scenarios that include business planning and tax advantageous transfers of wealth where this product acts as an ideal solution. Keep in mind that life insurance is not an investment. At Carey Insurance Agency, we creatively use this product as a risk management tool and can show you ways to utilize these products as guaranteed assets to supplement your retirement all while protecting the ones that mean the most to you.
Our life advisors can help you identify the risks your unique situations and life events present and help you devise a plan to keep your goals and dreams on track when ‘life happens’.