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The purpose of Life Insurance is generally to protect your family financially if you should prematurely die. Life Insurance can be an important part of a partnership agreement and it can create and preserve a legacy. A Life Insurance policy can provide for final expenses, education, paying off the mortgage, retiring debt, continuing family expenses and so much more.
Life Insurance plans and features continue to improve with competition and transparency. More products have become available, to meet new needs that were never considered to be a part of a Life Insurance policy. Free Agents NH is able to present multiple options from the top 20 Life Insurance Companies in the US. With that number of companies; we can compare prices, policy features and underwriting considerations to arrive at your very best value. This is what we do every day! As your insurance agent, we can provide experience and knowledge, to help you make the right decision. There are several categories of life insurance, each designed to meet the different financial needs of families as they age.
Term Life Insurance is a low cost option to get a lot of coverage at an affordable price.
Term Life Insurance is ideal for young families to protect against the devastating financial loss of a loved one, with so many big expenses still ahead. Including healthcare, education, mortgage payments and other expenses for raising the family. Term Life Insurance can protect your family or business with a lot of coverage for a rather cheap price. Rates are based on health, family history, tobacco usage, amount of coverage and your age. Free Agents NH can shop this for you and provide a report comparing the major life insurance companies competing for your business in New Hampshire. Term Life Insurance is a wonderful way to get a lot of life insurance when the financial needs are highest, but it does expire at the end of the term. Many plans allow for conversion of the plan during the term to more permanent plans.
A more recent Life Insurance concept that has become quite popular is Indexed Universal Life.
Indexed Universal Life Insurance can protect against premature death. It can provide financial protection against (chronic and critical care) and it can provide for retirement. This is where the paradigm shift happens! Insurance companies are huge institutions that have become very adept at investing money and getting safe yet consistent returns year after year. The biggest buildings in each city are usually owned by an insurance company, so why not let them invest our money and take a small piece when the investments are successful? This plan is a great Retirement Planning tool.
Indexed Universal Life has several components. It includes low cost term insurance to protect against premature death. It also has an investment component. The life insurance companies invest funds not needed to fund the term life in indexes like the S & P 500. When the indexes go up, the gains are added to your policy as cash value and locked in. If the index goes down then there are no gains to add; but there are no losses taken away because that particular index became worthless, so zero is applied to the cash value.
It is very important to know that medical expenses and loss of income due to medical events is the primary cause of bankruptcy in America. When a bread winner becomes unable to work, because of a major illness, financial devastation is sure to follow unless there was a plan to protect against that. If you had a heart attack, stroke or cancer and it did not kill you but left you unable to work for 6 months or a year or even more how would your family manage? How would the bills be paid?
One of the most exciting benefits of many Indexed Universal Life Policies- Living Benefits rather than just a death benefit. Indexed Universal Life Insurance has the ability to fill gaps in Long Term Care planning. Have you purchased Long-term Care Insurance? Most would have to say no. Long term Care Insurance is very expensive because the likelihood that the insurance company will have to pay a substantial claim now exceeds 60%! The amount per claim is usually about $100,000 per year (that’s definitely not having the best care). The average length of stay is 2.5 years and the average cost per individual is $250,000! Long-term Care Insurance Policies can cost in the neighborhood of $300-$1000/month per insured. That’s why most people don’t purchase one until they become too expensive to purchase. Long-term Care Insurance costs continue to increase as the cost of health care continues to increase. Worse yet, if you don’t use it, then it is generally wasted money! People hope they will be lucky enough to die in their sleep and not destroy their retirement and estate, because Long-term Care is needed. Indexed Universal Life can address this as well.
Not only can you protect against premature death, with Indexed Universal Life Insurance you can also grow the cash value in your policy to protect against chronic or critical care. If you don’t need the money for either then you can take the cash out of your policy as a no cost loan tax free for a nice retirement income! We can provide illustrations that include historic rates with various index options.
Free Agents NH, your Valued Insurance Agent, for all of your insurance needs!
With offices in Windham NH and Laconia NH
One call to Free Agents NH does it all, 603-527- 8117
Representing dozens of companies to get you the very best results.
We can meet you at our offices, chat by phone or come to you anywhere in NH.
Representing Principal, Voya, Banner Life, Savings Bank Life Insurance (SBLI), American General (AIG), TransAmerica, North American, United of Omaha, Accordia, Protective Life, Prudential, MetLife, Americo, Assurity, Foresters, Illinois Mutual, Mutual of Omaha, One America, Lincoln Financial, Allianz, Life of the Southwest and many more.
Why do we represent so many different companies? Because you deserve the best!
Finding you the right life insurance company that fits your needs.
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