Providing
Life Insurance in Arizona
Life
insurance forms the foundation of a sound financial plan. Specifically,
it can provide cash to your family after your death, help pay
the mortgage, run the household, send your kids to college,
or ensure that your dependents are not burdened with debt. It
can also supplement your retirement.
With
the help of a Leonard's Financial Coordinating Services professional, you can
develop a complete plan that will protect yourself and your family,
while staying within your budget.
There
are several kinds of life insurance and following is some basic
information about each type:
Permanent
Life Insurance offers you insurance
protection with the added benefit of cash accumulation. Your money
grows at a competitive interest rate, and the growth is tax-deferred.
It is one of the best methods of accumulating additional cash
for emergencies, your children's college education or your own
retirement. There are several types of permanent life insurance
including:
Whole
life or ordinary life is the most
common type of permanent insurance. The premiums generally remain
constant over the life of the policy and must be paid periodically
in the amount indicated in the policy.
Adjustable
life insurance premiums are recalculated
at set time periods, typically every five or ten years to reflect
current interest rates.
Universal
life allows you, after your initial
payment, to pay premiums at any time, in virtually any amount,
subject to certain minimums and maximums. You can also reduce
or increase the death benefit more easily than under a traditional
whole life policy.
Term
Life Insurance. Term insurance is
one of the most affordable life insurance values available. Term
insurance provides protection for a specific period of time. It
pays a benefit only if you die during the term. Because of low
premiums, it is ideal for young families, those with limited cash
resources, or anyone with a short-term need. There are a number
of Term plans, including:
-
Mortgage protection
- Five,
Ten, 20, 30-year level term
- Special
low-cost plan for those that qualify
We
represent: Many companies
Business
Life Insurance. No business should
be without the protection which Life Insurance offers. And we
offer a variety of plans to ensure that your business will survive:
Key
Employee Life insurance is a protection
plan . . . for the life of your business. Designed to protect
a business from the financial loss of the death of a key employee,
owner or partner, life insurance provides immediate cash that
can be used to offset the loss of profits and to hire a qualified
replacement. It also protects the company's credit position;
provides a financial hedge against a loss in business value;
and may allow the employer to provide additional compensation
to the employee.
A Buy and Sell Plan
can help prevent problems associated with transferring business
ownership upon the death of a partner or owner. Funded with
a specially designed life insurance policy, it guarantees that
the business will have the funds to buy out a deceased partner's
beneficiary. It also guarantees that the beneficiary will have
an income in exchange for his or her interest in the business.
Through life insurance proceeds and guarantees, Buy and Sell
can be a highly successful transfer plan in protecting and extending
the life of your business.
Choosing
a life insurance product is an important decision, but it can
be complicated. Leonard's Financial Coordinating Services will help you to understand
your needs and the choices available to you. Contact us today
and we can provide clear and complete information and advice on
coverage options and cost-saving measures.
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