Life insurance is used to help families deal with the “what if’s” that life tosses at us all at some point.
One of the biggest “what if’s” is How will my family get by in my absence?
Life insurance proceeds help families by paying for funerals, taking care of any final expense, college funding, weddings and retirement planning.
Life insurance plays an integral role with business owners with key man life insurance,
funding buy-sell agreements, deferred comp agreements and supplementing retirement planning.
When it comes to life insurance products there are many options:
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- Term insurance (10 year to 40 year)
- Universal Life (GUL’s & Current Assumption)
- Whole Life
- Index Universal Life
- Hy-brid plans
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When it comes to these products the first step is to establish the needs, learn about their family, their lifestyle and their goals and objectives.
Once the need is determined it is imperative you ask about health and lifestyle.
Any life insurance plan is based on age, sex, and smoking status.
Add to this MIB and RX checks.
Credit checks and Motor Vehicle reports now routine
Ocean State Brokerage works with the top 60 carriers.
The term market has exploded due to the virus. Numerous carriers now offer up to $5 MM dollars of coverage without the need for medical exams.
Click here for the latest non-medical list
Universal Life is still popular
IUL plans have exploded in the past 5 years
Whole Life has made a giant comeback. We work with several outstanding blue-chip carriers
who offer single premium options, 12 pay, 15 pay, 20 pay and LP at age 65.
We work with:
Assurity | Gerber | Lafayette Life | Mass Mutual | MTL (Mutual Trust Life)
Nationwide | Ohio National | Penn Mutual | Transamerica
Some pay dividends, other’s do not
There are many different options available to your clients
Tell me a little about their situation including how much you and/or they are looking for and I will design some options for you to review
If you want to more specific case details contact us.