Life Insurance
Life Insurance Planning for Your Future
Life Insurance requires a thorough knowledge of industry laws and trends, as well as a commitment to succession planning. It’s not always easy thinking about what will happen to your finances after you pass away, which is why our experts are positioned to make planning as stress-free and straightforward as possible. We will tailor a life insurance solution for your needs by determining the right combination of whole life insurance and term life insurance. Then, as your financial situation evolves, we will help you make changes to your life insurance plan, providing you and your family with financial security and peace of mind.
What is Life Insurance?
Life insurance pays out a sum of money either on the insured person’s death or after a set period. Each life insurance policy is different based upon the needs of the client. Consulting with a life insurance professional will help you determine which policies are suitable for you.
Life Insurance Types
There are four primary varieties of life insurance: Term Insurance, Whole Life Insurance, Universal Life Insurance, and Index Universal Life Insurance. One Stop Financial Group will review your financial history and goals to determine which life insurance plan is right for your needs.
Term Life Insurance
Term life insurance provides coverage for a specified period, typically 10, 20, or 30 years, and pays a death benefit if the insured person passes away during the term. It is generally the most affordable type of life insurance, offering a straightforward solution for temporary coverage needs.
Whole Life
Whole life insurance offers lifelong coverage with a guaranteed death benefit and a cash value component that grows over time. It provides policyholders with both insurance protection and a savings element, often at a higher premium compared to term life insurance.
Universal Life Insurance
Universal life insurance combines lifelong coverage with flexible premium payments and adjustable death benefits. It includes a cash value component that earns interest, offering the policyholder the ability to adjust their coverage and savings as their financial needs change.
Index Universal Life Insurance
Index Universal Life (IUL) insurance offers lifelong coverage with flexible premiums and death benefits, along with a cash value component linked to a market index like the S&P 500. This policy allows for potential cash value growth based on market performance while protecting against market downturns with a guaranteed minimum interest rate.
Final Expense Insurance
Final expense insurance, also known as burial insurance, is a type of whole life insurance designed to cover end-of-life expenses such as funeral and burial costs. It provides a smaller death benefit, making it an affordable option to ensure that these costs do not become a financial burden on loved ones.
Mortgage Protection
Mortgage protection insurance is a type of term life insurance designed specifically to pay off the remaining balance of your mortgage in the event of your death. This ensures that your family can remain in the home without the financial burden of the mortgage payments.
Child Asset Builder
Child Asset Builder is a life insurance policy designed to accumulate cash value over time, providing financial security and growth opportunities for a child’s future. This policy can be used to help fund education, start a business, or provide a financial cushion as the child reaches adulthood.
What is the Right Life Insurance Plan for You?
One Stop Financial Group has extensive experience helping clients discover the right life insurance plan. Our team evaluates your needs, your coverage goals, and which carrier has the best options for your family or business. Our plans also help our clients plan for the possibility of a chronic or critical illness. These plans are designed to support your family after you are gone or can even benefit you while you are undergoing medical treatment and have to take time off work.