Life Insurance
Most people don't have enough life insurance or they have the WRONG type of life insurance because they are NOT educated on what's the best type of life insurance for their situation.
They're not prepared to position their families' finances for a better future. Life insurance should help you while you're living not only in your death. Plus you should have enough life insurance to pay off all the families bills, the funeral, leave a nice check behind, and to put your family in a better position in life after you're gone. If your life insurance is not doing that, we need to talk!
To Book an appointment to talk about your life insurance needs, click HERE
Here are 5 things you can use life insurance products for:
LIVING BENEFITS (Medical Emergency Fund)
Critical, Chronic, & Terminal illness insurance is medical insurance that provides a lump-sum benefit up to 80% of the face amount of the policy upon diagnosis of a covered illness or condition This payout helps our clients avoid the financial burden that can be created by those illnesses. Our clients have found this benefit payout useful for getting the treatment that they want, spending time with their family and friends, keeping their home, and filling in the financial gaps left by most medical insurances.
Individuals must qualify for living benefits coverage which is dependent on a number of factors including current health and medical history, age, and occupation.
MORTGAGE PROTECTION (To pay your house off EARLY)
Mortgage protection is a simplified, quick issue insurance that is used to protect our client's greatest asset. Mortgage protection plans are designed to provide a death benefit to pay off all, or a portion of, a client's mortgage. Optional riders are available in most states, such as disability income and return of premium, which refunds all, or part of, the premium paid if the policy is unused. This product, offered by many of our carriers, can be customized to fit each client's needs and budget.
RETIREMENT PLANNING (To make sure that you don't run out enough money after you retire!)
An annuity can be used to save for retirement, preserve funds already saved for retirement and to provide a steady stream of income during retirement...Index Annuities have become a very popular choice for retirement planning, especially with the stock market volatility over the last decade. Annuities are financial contracts between an insurance company and contract owners. Payments into an annuity can be made via a lump sum or a series of monthly payments to the insurance company. These funds will accumulate on a tax-deferred basis, which can be a tremendous advantage over time. Fixed Index Annuities provide an opportunity for growth without the risk involved with most investments. This is especially attractive to pre-retirees and retirees looking to preserve assets they have built over several decades. Many annuities offer the ability to add optional benefits such as lifetime income riders, which gives clients a guaranteed income no matter how long they live.
FINAL EXPENSE (To cover the costs of the funeral and burial - The BARE Minimum)
Final expense plans are designed to remove, or offset, the financial stress that is associated with death...Our clients are able to use final expense plans to help their clients prepare for their difficult time. These plans are available in varying coverage amounts to fit a variety of budgets. Due to the diversity of our carriers, agents are able to find coverage for their clients no matter what their current health status may be.
COLLEGE FUNDING (To pay for your spouse and/or kid's college tuition)
One of the biggest concerns related to new generations of people is the rapidly rising cost of a college education....More young people are seeking a higher education today than any other previous generation. Unfortunately, with the rising costs associated with that education, they're being forced to pay with borrowed money. At Money Spartans Financial Group, we view it as incredibly critical that our clients, their families, and the future generations of the world are educated on the many college funding options available today. Our financial literacy experts are here to assist clients on these options to ensure their financials futures are bright and unencumbered by student loan debt.