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Life Insurance

The value of Life insurance

 

Life insurance can be used for a variety of financial planning purposes, including:

 

  • Provides payment at the death of the insured

  • Paying for the education of surviving children

  • Helping your spouse and surviving children maintain their lifestyles

  • To ensure the continuation of a business after the death of a key owner or employee

  • Life insurance is used in many personal, business and philanthropic contexts.

 

 

There are four primary types of life insurance, and each has a place in any sound financial plan. The four variations of life insurance are:

 

 

  • Term Life Insurance: This kind of policy will maintain a certain premium for a distinct time period, like 10, 20 or 30 years. After which you can opt to continue coverage with a premium that increases annually. This is the most inexpensive kind of life insurance because it’s based on a fixed time period, but know that it doesn’t generate any cash value.

 

  • Whole Life Insurance: Lifetime protection that offers a guarantee on the death benefit and guaranteed cash value for a guaranteed premium (also tax free).  This is often one of the most expensive kind of life insurance, but may pay dividends (refunds of unneeded premium) that can be used in a variety of ways. 

 

  • Universal Life Insurance: More expensive because these products offer a cash value and are tax free. Also, you have the option of borrowing against the policy. Universal Life Insurance is more flexible in that you can adjust the premiums paid per month, useful if your income varies over time. You just have to ensure that you pay enough to keep the policy valid and in effect. There may be a death benefit option that can either increase or reduce the death benefit as needed

 

  • Equity Indexed Universal Life: Is a form of whole life insurance which includes an investment portion where your earnings are tied to a market index.  Cost is higher than whole life, but there is "potential" to have more over long-term since it does have some tie to the stock market.

 

 

Contact Asta Insurance Group today to review your needs and options and get you competitive quotes for the right life insurance for you.

Asta Insurance Group is owned and operated independently by Matthew Asta, a licensed Insurance Agent. Medicare Supplement and Health Services are brokered by TZ Insurance Solutions, a licensed Insurance Brokerage General Agency in which Matthew Asta is appointed by Mutual of Omaha to offer such services. Life Insurance and Annuity Services brokered through Ash Brokerage, a licensed Insurance Brokerage General Agency. Mortgage Services brokered through Primestar Financial Capital Corp, a licensed broker agency, and equal housing lender. NMLS ID: 1049486

 

Life Insurance, Health Services, and Annuities provided in the following states:  FL, ID, IL, NJ, MI, VA, LA, TX, NV, AL, NC, MO, MA, KY, GA, OH

Mortgage Services provided in the following states:   FL

 

Please note: We provide general information and resources for taxation questions applicable to health care reform. We do not provide tax advice since we are not a certified public accountant. If you have any questions, need clarification or tax advice, please contact your tax advisor. 

 

The testimonials used may not be representative of the experience of other clients, and they are not indicative of future performance or success. Asta Insurance Group is not affiliated with Asta Funding, Inc., Asta Managing Agency, Ltd., or ASTA - The American Society of Travel Agents.

 

© 2014 by Asta Insurance Group, LLC

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