LIFE INSURANCE & CRITICAL ILLNESS

A life insurance is a contract with an insurance company. In exchange for premiums (payments), the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries in the event of the insured’s death.

Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage. It’s important to note that death benefits from all types of life insurance are generally income tax-free.1

There are many varieties of life insurance, let us discuss your options and help you select the plan that is right for you.

Insurance Solutions contracts with the top A+ carriers to provide you and your loved ones security and piece of mind with such an important buying decision.  Our term life insurance carriers offer benefit periods of 5,10,15,20,25 and 30 year terms.  Insurance Solutions also offers the (ROP) return of premium rider that pays you back every penny of premium when you live past the expiration date of the term policy.  Whole life policies are offered with cash value build up and without, whatever suits your financial needs!

Critical Illness insurance provides an unrestricted lump-sum benefit upon diagnosis of a covered condition or event such as cancer, heart attack, stroke, kidney failure, or major organ transplant.  Although most apparent in the medical insurance arena, the same types of “gaps” in coverage are becoming apparent in traditional products such as disability income, long term care and even life insurance.  When a critical illness strikes, this lump sum benefit is helpful in paying the medical deductible and out of pocket cost of your insurance plan, replacing lost income, paying rent, light bill, and can even assist with groceries, if that’s what your in need of.  Just like life insurance, you may purchase different benefit amounts to be paid out if you have a critical illness to strike.