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Life Insurance

What is Life Insurance?

Personal protection to help your beneficiaries replace your income and or contributions to your family in case the unexpected happens. Estate planning with life insurance can be a real challenge – even with a will in place. Death benefit proceeds can provide the liquidity needed to pay off debt, replace income, supplement retirement income, create an equitable inheritance between heirs, and even provide protection for businesses. Good estate planning works to help protect your assets, while also taking other factors into consideration such as avoiding probate and access to death benefit proceeds at the time of death rather than waiting for court settlements or sale of property.

Who is Life Insurance For?

It’s for: EVERYONE! Everyone should carry some amount of life insurance.

FAQ’s

Can an insurance company require me to have a medical exam before granting me life insurance?
Yes it is almost always required. Lab work and sometimes doctors records are required as well.
How can an insurance company really tell if I smoke?
When lab work is done, nicotine will show in results. Also the question is asked on the application. If you chose to answer no and you are a smoker it could make the policy null and void.
I own a business. Can I deduct premiums for life insurance as a business expense?
No – insurance premiums are not deductible for a business if it’s a personal life insurance. There are some business life insurance plans, if designed properly, can be deducted.
What are the pros and cons of buying life insurance through my employer?
The biggest downfall is that, in most cases if you leave your employer or retire you may not be able to keep the policy. The best part is that it is usually low or no cost for you.
Will my beneficiaries have to pay taxes on the proceeds of my life insurance policy?
No life insurance proceeds are received income tax free.
How much life insurance do I need?
It is very individual for everyone. I can help you make that decision when we speak.

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    Edna has been in business for 30 years, offering all lines of insurance.
    As an independent agent, she is contracted with several carriers. This allows her to assess individual needs and custom design a policy portfolio to suit those needs.