Life Insurance 2019-07-25T17:38:20-05:00

3 Easy Steps to getting Life Insurance

  1. Calculate your life insurance needs
    We have an in-depth calculator to determine the amount you need or if you have an amount in mind already, just input it into the quote system.
  2. Compare online life insurance quotes through our system
    We will run a comparison for you with some top insurance carriers to choose from.
  3. Apply online in a matter of seconds!
    You can start the application if you choose to and we can help you along the way if you get stuck in the process.

Term Life insurance policy is less expensive than you think

*Term life policy based on a 35-year old Male Non-Smoker 250k Policy in Preferred health

Household Bills  Monthly Cost
Health Insurance $345
Utility bill $180
Cell Phone bill $130
Car insurance $115
Internet $50
*Term Life Insurance $25

Rating systems help the consumer know the stability of Insurance carriers

  1. How ratings are determined
    The first is the financial strength rating represented by an alphabetical range between A++ and E.  When providing this rating AM Best completes a comprehensive quantitative and qualitative analysis of a company’s balance sheet strength, operating performance and business profile.
  2. Relying on the rating system
    AM Best has worked hard to provide an independent evaluation of an insurance carriers operations and we still rely on their ratings. It is also important to use their ratings in conjunction with other rating agencies to determine the full picture.
  3. Ratings do change
    We recommend top-rated carriers only at Plan with Phil and as requirements do change,  we recommend reviewing this annually to keep up to date of their financial stability.

Life insurance Ratings

Life Insurance Company

A.M. Best

Financial strength
rating

1. Mass Mutual A++
2. Northwestern Mutual A++
3. Guardian Life A++
4. State Farm Life A++
5. New York Life A++
6. Lincoln Financial A+
7. Mutual of Omaha A+
8. Nation Wide A+
9. Principal Financial A+
10. AXA Equitable A+
11. John Hancock A+
12. Protective A+
13. Primerica A+
14. Prudential A+
15. Brighthouse Financial A+
16. Transamerica A+
17. Voya A
18. AIG A

Life insurance can be the foundation of your financial security and can provide comfort and stability for your family. The purpose of life insurance is to help provide for your loved ones with financial protection in case you prematurely past away or if you wanted to leave a legacy behind.

Why Term Life Insurance?

If you’re sure you want life insurance but aren’t sure you can afford it, a term life insurance policy may be a great option. Term life is affordable and your premium payments remain the same for the amount of time that works best for you, such as 10, 20 or even 30 years. This way, you decide how long your loved ones need financial protection. And if those needs change, many term policies have the option to convert to a permanent life insurance policy.

Click on the link to your right to run a term quote for yourself.

Annual Renewable and Convertible Term

This policy provides protection for one year, but allows the insured to renew the policy for successive periods thereafter, but at higher premiums without having to furnish evidence of insurability. These policies may also be converted into whole life policies without any additional underwriting.

Level Term

This policy has an initial guaranteed premium level for specified periods; the longer the guarantee, the greater the cost to the buyer (but usually still far more affordable than permanent policies). These policies may be renewed after the guarantee period, but the premiums do increase as the insured gets older.

Return of Premium Term Life Insurance

This type of term life insurance has a special stipulation that guarantees to refund the life insurance premiums when the term period ends, assuming that the person insured is still living. These policies are typically available in 15, 20 or 30 year terms. While being pricier than a typical term life insurance policy, it is much less expensive than a whole life insurance policy and has similar advantages.

Why Permanent Life Insurance?

Permanent life insurance provides you with financial protection for your entire life with a cash option built into the policy. Because of the flexibility of permanent life insurance that it offers, there are several types of policies you can purchase that can be beneficial in the long run.

Whole Life Insurance

Whole life insurance is a permanent policy, which gives you guaranteed protection for your loved ones that last a lifetime. With whole life insurance, unlike term, you earn guaranteed cash value, which you can use however you want. Participating whole life insurance is eligible to earn dividends, which can increase the death benefit and the cash value. Or there are other options you could choose, such as using dividends to help pay premiums.

Universal Life Insurance

Your life changes, so you need options that can help you keep up. A universal life insurance policy offers permanent life insurance with flexible premiums. This allows you to adjust the amount you pay each year–even month to month–as long as you have enough account value. You may also choose a policy with a guaranteed death benefit, which means your family is guaranteed to receive a lump sum of money in the event of your passing.

Variable Universal Life Insurance

We know that choice can make all the difference. So if you want a permanent life insurance policy that lets you make your own investment choices within your policy, consider variable universal life insurance (VUL). VUL allows flexible premium payments, allowing you to choose the amount and the frequency of your payments within certain limits. A VUL policy provides access to many different investment options, which allows you to choose options that align with your goals and tolerance for market and investment risk

Index Universal Life Insurance

Offers tax-deferred cash accumulation for retirement while maintaining a death benefit. People who need permanent life insurance protection but wish to take advantage of possible cash accumulation via an equity index might use IULs as key-person insurance for business owners,
premium financing plans or estate-planning vehicles. IULs are considered advanced life insurance products in that they can be difficult to
adequately explain and understand. They are generally reserved for sophisticated buyers.

Guaranteed Accepted Life Insurance

If you’re worried you’ve waited too long to get life insurance to help protect your family, there’s a simple solution. With guaranteed acceptance life insurance, you can get coverage to help cover your final expenses easily and affordably, without a medical exam, no health questions, or any complicated paperwork.

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