Life Insurance

I once heard life insurance described this way: “There will be a day when you walk out the door of your office or out the door of your home and you will not return. But your life insurance policy will be there to meet your creditors, pay the mortgage, pay your remaining medical bills, provide for your final expenses, pay any estate taxes, pay for your children’s education, provide an income for your spouse, assure that your business is transferred according to your wishes and leave your family in a position so they can live in the same lifestyle that they did while you were alive. For this peace of mind, this problem-solver will cost you only pennies per day.” That is a good description.

This is not an offer or contract for insurance. Underwriting according to the company’s guidelines, including an application, is required. Refer to the insurance policy for complete details of the policy you are considering.

Quick Life Insurance Needs Estimate

Obtain a Detailed Life Insurance Needs Estimate and a Free Quote

Term Life Insurance
It is possible to purchase life insurance that will provide a guaranteed death benefit for a period of time such as 10, 20 or even 30 years (other term periods are available). Some policies will even guarantee that the premium will not increase during this period. We offer the same products that are advertised on TV and on the Internet. Contact us for a comparison of life insurance plans that will provide protection for your family or business.

This is not an offer or contract for insurance. Underwriting according to the company’s guidelines, including an application, is required. Refer to the insurance policy for complete details of the policy you are considering.

Lifetime Life Insurance
Although cash value life insurance has been available for many years, there is a new type of life insurance plan that is becoming more and more popular with our clients. This life insurance plan charges only the premium necessary to provide the death benefit for the lifetime of the insured. The plan does not charge additional premium to build up a cash value inside the policy. For those who are purchasing the plans for the death benefit, this makes great sense and may reduce the premium cost. These policies have guaranteed premiums and guarantee the death benefit through age 100 or 120. Contact us for information on this new plan of life insurance.

Life Insurance for Children
Although cash value life insurance policies are often purchased as a means of providing for a child’s college education, you may want to consider other methods of saving for this need. Congress has provided parents with substantial tax breaks through the Education IRA and the Education Roth IRA. Contact us for information on providing for your child’s college education.

Life Insurance or Investment?
Our associates are trained to recognize and identify life insurance as a risk management device that has a cost. You might liken this to purchasing insurance on a car or house. You will want to buy the most efficient plan that meets your needs and situation. Our associates are also trained to recognize and identify investments as an asset management device that also has a cost and a rate of return. Again, you will want to buy the most efficient plan that meets your needs and situation. We do not believe that reducing the efficiency of an investment or life insurance product to combine them into one package makes good financial sense for our clients.

**For information regarding any of the above solutions or asset and risk management topics, please contact us by email, phone or by using the Contact Us section of this site. Allen Knox Associates prides itself on being an educational resource for our clients and working to find solutions from the client’s side of the table. We have been working from your side of the table since 1975. We appreciate your continued trust and confidence.