Life Insurance with a Specific Purpose
You’ll be surprised to learn the variety of goals toward which life insurance can work for you.
| Contents | ||
| Business protection Debt coverage Quick issue Mortgage coverage |
Retirement planning Estate planning Income replacement Final expenses |
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Business life insurance
Key man life insurance and buy-sell life insurance help your business remain afloat and intact after the loss of an employee or owner. Life insurance can also be used to cost-effectively reward your employees directly or reduce their taxes through deferred compensation. (click here)
Credit life insurance
Credit life insurance adjusts to your existing debt as it decreases (or increases). If you die under coverage, credit life insurance will pay your creditor and nullify your debt. (click here)
Quick issue life insurance
Issuing a life insurance policy usually takes 4–6 weeks. Quick issue life insurance policies cost more, but their turnaround time is a mere matter of days. (click here)
Mortgage life insurance
Mortgage life insurance secures ownership of your house by paying off your mortgage if you die. Like credit life insurance, it automatically adjusts as your mortgage shrinks. (click here)
Retirement planning
A cash value life insurance policy which provided protection during your working years can be used to fund your retirement. (click here)
Estate planning
Estate taxes take an enormous bite from any estate of appreciable size. Investing in a life insurance policy to cover estate taxes is the most cost-effective way to hold on to what's yours. (click here)
Income replacement
Providing for loved ones is the most readily-identified goal of life insurance. (click here)
Final expenses
Final expenses include funeral costs, medical expenses, and probate. Plan them into your existing policy, or purchase a policy specifically to cover them. (click here)
