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Services
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Term Life Insurance
A life insurance policy with a set number of years limit on the coverage period. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. Think of it as if you were renting a car, you only have the benefit as long as you pay for it. In this type of insurance policy the premiums are less expensive than permanent life insurance. It also does not build any cash value.
Whole Life Insurance
A type of life insurance contract that provides for insurance coverage of the contract holder for his or her entire life. Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy is intended to last a lifetime. Upon the inevitable death of the contract holder, the insurance payout is made to the beneficiaries. These policies include an investment component, which accumulates a cash value that the policyholder can withdraw or borrow against. The premiums are more expensive than term insurance.
Auto Insurance
A contract with an insurance company which an individual or business may have financial protection or reimbursement against losses from car accidents, damage, or loss depending on the coverage purchased.
Mortgage Rates
Interest rate on a mortgage loan.
Annuities
Annuities are savings and/or investment vehicles that are issued by insurance companies. Most of the time, these are intended to be longer term, 5 or more year investments or savings vehicles. There are many different types of annuities available all with strengths and weaknesses. It makes sense to have a professional describe in detail all of the features and benefits and restrictions of each type of annuity available. In our opinion, you should ask if there is a long surrender period (10 years or more) and ask about penalties for early unexpected withdrawals.
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A brief but not comprehensive description of each is listed below.
Fixed Annuities - Fixed interest rate savings vehicle with different lengths of guaranteed rate periods and surrender periods. (enter link here for Annuites, show it as Get a Quote or Information
Index Annuities - Savings vehicle tied to either one or multiple indexes. Various types are available that may limit or reduce the amount you can gain or lose. Get a Quote or Information
Variable Annuities - Investment vehicle tied to an insurance companies "sub-accounts" (similar to mutual funds) with many different types of guarantees offer by an insurance company. These investment vehicles have many "living benefit" riders available to possibly guarantee a designated income stream for life. Get a Quote or Information
Immediate Annuities - Savings/Distribution product that provides a guaranteed income stream for certain time periods depending on what riders you purchase. Usually a non-reversible contract where you give up ownership or asset control in exchange for an income stream. Get a Quote or Information |
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