Agile Insurance Strategies
Insurance Risk Management
Life insurance is a love letter to my family
Life Insurance Basics
Life insurance is an agreement between you and an insurance company. It is a means of protection from the risk of financial loss as long as you pay the premiums. A comparatively small premium today can protect your family and your small business from financial devastation tomorrow. For instance, losing a spouse does not mean you also have to lose your home. You can ensure your children will have an education should they outlive you before completing their education.
Life insurance can potentially close gaps to help fund your retirement and to protect against temporary financial complications for your business. Many businesses are currently suffering through the loss of finances and even their complete businesses during critical economic and/or health crises like COVID-19 pandemic. Life insurance, if designed and funded properly can potentially get business owners over such hurdles.
Term Life Insurance
There are various types of life insurance. Term Life insurance protects your family which will cover you during a specified period of time when you need the most protection. Term life insurance can:
Permanent Life Insurance
The permanent life insurance such as Whole Life, Universal Life, Guaranteed Universal Life, and Index Universal Life can provide coverage for the duration of your life as long as premiums are paid.
See the "Solutions" section for uses of life insurance for individuals, families, and small business owners.
Primary Use of Life Insurance
The primary use of life insurance is to:
Importance of Designating Beneficiaries
 The use of cash value life insurance to provide a resource for retirement assumes that there is first a need for the death benefit protection. The ability for a life insurance contract to accumulate sufficient cash value to help meet accumulation goals will be dependent upon the amount of extra premium paid into the policy, and the performance of the policy, and is not guaranteed. Policy loans and withdrawals reduce the policy's cash value and death benefit and may result in a taxable event. Surrender charges may reduce the policy's cash value in early years.