Life Insurance | Safeguard Assurance

Life Insurance – The Best Gift for Grandchildren and Minor Children

Dawn Cook — Tue, 16 Jul 2019 17:36:50 +0000

Do you want to give the most memorable gift to your child or grandchildren this year?

We all love our young children and grandchildren and want to give them gifts that they want. As minor children or grandchildren, their wants are most likely for the latest toy or gadget that will most likely be forgotten not too long after its given. These minors, as expected, do not know yet what you know. You know that the toy or gadget will provide only temporary happiness and you want them to have a gift that will benefit them financially in the future.

What gift could you give them as minor children or grandchildren that would help them financially in the future, will cost less due to their young age, and may not be available to them once they turn 18? You may have guessed already, but that gift to your minor child or grandchild is a juvenile whole life insurance policy with a death benefit from $5,000 up to about $25,000.

What are the 5 Big Reasons to make this your chosen gift?

1. You guarantee their insurability. You never know when a new illness diagnosis that may prevent a person from acquiring desired life insurance later in life.

2. The premium cost is low due to their young age, being under 18 years – you likely have spent more each year for gifts that no longer have any value or use.

3. You lock in that lower cost premium for the life of the policy – the lower-cost will not change, and it’s a high value gift you can give each year without having to figure out something new and memorable to give each time. That locked-in lower premium will most likely be affordable for them to pay the premium themselves when you no longer can.

4. As a whole life policy, it will build cash value that they can borrow from in the future – a better option than a bank loan or a credit card advance.

5. Additional coverage can be purchased without evidence of insurability at certain points in time – that guaranteed insurability can be incredibly valuable later in their life.

Sometimes, we don’t think of purchasing life insurance on anyone else’s life other than ourselves or our spouse, but it is a definite possibility (plus an incredible gift) for your minor children or grandchildren. Once your child or grandchild learns the real financial value of that gift, they will be grateful and will never forget your insight and love in doing that for them.

If this is a new idea that you want to pursue or a reminder of an idea that you are now ready to pursue, we can help. Feel free to give us a call, text or email, and we’ll be available to you.

Juvenile Life Insurance | Whole Life | Child Life Insurance | Bradenton FL

Life Insurance – Have You Forgotten the Importance of Having it?

Dawn Cook — Thu, 04 Apr 2019 14:56:26 +0000

Life is full of so many little things to do every day and the most important tasks for our well-being and our family may be forgotten unintentionally. Again, it’s unintentionally forgotten, and it happens to lots of people so don’t feel bad. In this post we’ll list some of the critical reasons for having life insurance before it is too late.

Here are a few reminders why life insurance could be very important to you and your family.

Protect your family with the policy’s death benefit:

1. Does your spouse and children depend on you for the financial support?

2. Is there a mortgage on your family home that your family would struggle to pay without your income? Do you want your family to be able to stay in the family home?

3. Do you have children you want to be able to send to college who would be unable to do so without your income?

4. Do you want your family to be able to maintain the same standard of living that you have provided for them if you were to die?

5. Do you want your family to figure out how to pay for your funeral costs and other final expenses during that difficult time?

Protect yourself even more with NEW Life Insurance that offers “Living Benefits” (LB):

1. Would you like to accelerate your death benefits to help you pay bills or other expenses if experienced a Heart Attack, Stroke, Cancer or some other form of Critical Illnesses?

2. If you are very sadly afflicted with a Terminal Illness, would you perhaps like to use those death benefits to pay for alternative cures, visit a specialist doctor of your choice anywhere in the world, take your dream trip or to pay for any other thing on your bucket list?

If you are like most people, you have answered “YES” to many of these questions. And it’s true that most of these needs won’t go away over time. But these needs could all be met as soon as you have a life insurance policy in place.

The peace of mind that you will experience at that point in time will make you feel so good for a very long time since you do know that you cannot predict when you will sadly leave this earth. That same incredible peace of mind will also be felt by the family members you love knowing that you protected them even if you are gone. And, guess what? You will be able to take the credit for this phenomenal gift you have provided. The love for your family will be very evident for years to come!

Note: If you have term life insurance through your employer, it is often not offered at the needed death benefit amount or the policy will most likely terminate if you change or lose your job. Therefore, you may want to evaluate other alternatives to make sure you have the proper type of Life Insurance that will fully protect your family.

Safeguard Assurance is here and ready to answer all your questions. We are very passionate about offering life insurance to our clients and how it is a true necessity when it comes to protecting our loved ones.

Legacy of Love – A MUST WATCH VIDEO!

This video captures the real story of why we have Life Insurance!

Don’t forget about it or put it off this time! Contact us Today!

Life Insurance | Bradenton FL | Parrish FL | Sarasota FL

Final Expense Life Insurance

Dawn Cook — Tue, 26 Mar 2019 22:04:58 +0000

Have you been wondering exactly what Final Expense Life Insurance is and if you may want it? These are two common questions that we hear from our clients, and we want to provide those answers here for you.

Final Expense Life Insurance is one of the many types of life insurance available and it is meant for a specific purpose. Our Final Expenses can be significant, and we want to be sure our loved ones don’t have to pay them from their pockets, especially at an unexpected time. Our final expenses are things like our funeral expenses (therefore Final Expense Insurance is also called Burial Insurance), final medical bills and other final bills like a credit card balance. Unfortunately, even a simple funeral can be quite expensive these days, but you likely already know this.

Another need that a Final Expense Insurance can meet is to leave behind an amount of money to benefit your loved ones after the final expenses have been covered.

Like all life insurance, the death benefit is 100% tax free to the beneficiaries which is the wonderful tax advantage of life insurance.

These Final Expense policies are offered to people from age 50 to 80 (or sometime 85) and the death benefit available starts at $2,000 and can go as high as $30,000. If you want and need more than $30,000, there are other life insurance products that could meet that larger need. We’ll discuss that briefly later in this article.

There are two types of final expense insurance and they are based on your current health status. The healthier you are, the lower the premium will be, and the difference between the two types is discussed below.

Guaranteed-Issue Final Expense Life Insurance – when you are less healthy

Guaranteed-Issue Final Expense plans are available for those who are not as healthy and have poor health conditions. These plans allow those folks to still get the coverage they are hoping for without being denied due to a poor health condition. Therefore, there is no questions asked and no medical exam required.

Because these plans are guaranteed to be issued regardless of health, that is a big advantage, and where there is good there often has to be some disadvantages to make it work. In this case, one disadvantage is in the form of a limited death benefit in the first two years. What this means is that if you pass away in the first two years, other than from an accident, the death benefit will be reduced to only the premiums paid to date plus a fixed interest rate. Once you have reached the start of the third year, the full death benefit selected at purchase will be paid.

A second disadvantage to offset the big advantage with a Guaranteed-Issue Final Expense plan is that the premium is higher compared to other life insurance products that are not guaranteed-issue. This higher premium may be worth the big advantage of gaining otherwise unavailable life insurance coverage.

Simplified-Issue Final Expense Life Insurance – when you are health is better

Simplified-Issue Final Expense differs from guaranteed-issue in the fact that you will be required to be able to answer “no” to some simple questions on your health and lifestyle. There is also no medical exam with the Simplified-Issue Final Expense policies.

The benefits of being able to answer “no” to those questions will give you two benefits over a Guaranteed-Issue policy-

1) lower premium (but if you are a smoker, your premium will be higher than a non-smoker) and 2) immediate full death benefit from day one.

Some carriers may offer a higher death benefit with a Simplified-Issue policies when compared to a Guaranteed-Issue policy.

We can help you determine which of these two types fits your specific needs the best.

Like we mentioned above, if you are healthier and you are willing to take a

Medical Exam, another life insurance product can offer you a higher death benefit (possibly double the death benefit) for about the same premium cost as a Final Expense policy. This product is called Guaranteed Universal Life (GUL) policy and these policies may continue to age 120. The Medical Exam is used by the carrier to do underwriting to determine your premium and the healthier you are the lower your premium can be. We can help you determine if this type of life insurance policy is a better fit for you.

In conclusion, you have two Final Expense Life Insurance products that will allow you to make sure your loved ones have the funds needed to cover your final expenses, so they don’t have to unexpectantly pay those for you. This is true whether you are dealing with poor health conditions or if you are in pretty good health, and that is good news! Give us a call and we’ll walk you through the entire process.

Final Expense Life Insurance | Ellenton FL | Bradenton FL | Dawn Cook Parrish FL