Term Life Insurance
Create a Safety Net for Your Family or Business with Life Insurance
Buying life insurance to protect your family or business is the smartest thing you can do to prepare for the unthinkable.
Proverus offers both term life insurance and and permanent (whole) life insurance, plus the expert advice you must have to determine the best fit for your lifestyle and coverage needs.
Regardless of your health today, life insurance is an important investment to make to protect your loved ones. Waiting until you become ill may disqualify you for life insurance, leaving your family vulnerable to financial hardships.
There are also many living benefits to life insurance. We educate and empower our clients to take advantage of both living benefits and benefits at death.
Let’s build your life insurance strategy and coverage today.
Life Insurance Services Include:
Life Insurance Policies
Life Insurance Strategies & Financial Education
Term Life Insurance
Term life insurance is often compared to “renting,” because term policies are only in effect for a specified time period. As a young healthy person, a term policy can provide a large death benefit while raising children. Many older adults choose term because it’s more cost effective, but rates go up with age and poor health. Common coverage lengths for term are 10-, 20- and 30-year policies.
Permanent Life Insurance
Permanent life insurance is often referred to as “buying” insurance because this type of policy does not have a set time period as long as you are up-to-date on your premiums. Permanent life insurance is sometimes called “whole life insurance,” and it has many options and products, including the popular “Universal life” policies. Permanent life insurance can also be used strategically in tax-free retirement and family banking plans.
Getting the right amount of life insurance is critical. Most experts agree that individuals need 7-10 times their annual income in order for a family to maintain its lifestyle after the death of a provider.
Life Insurance Can Be Used as an Important Part of Your Financial Strategy
Life insurance has changed drastically over the past 25 years, making it a strategic instrument for financial planning in many capacities.
Most people are not aware there are both living and death benefits from the right types of life insurance. These benefits can provide important financial securities for your family, business and future generations.
At Proverus, we can teach you how to incorporate the advantages of life insurance into your financial strategy, which can help you avoid costly taxes and hardships in the future, while also providing you access to your money in a better structure than government-sponsored retirement plans.