The Importance Of Life Insurance
At Capitol Financial Solutions, we believe life insurance is integral to building your financial house. It's important to protect the life you've built for yourself. You are an income-generating asset! Take care of your loved ones and ensure they are provided for in the event of your unexpected disability or death. If you would like help discerning the best life insurance choice for you, contact us today or visit one of our locations in McDonough, Georgia.
Term life insurance provides coverage for a specific time frame or “term.” The typical terms range between 10 to 30 years but can be more or less. This is often the most popular option because it's affordable and can be converted to a whole life policy later.
Whole life insurance provides coverage for your “whole” life. This policy covers your dependents, maintains premiums, and builds cash value the longer you live. You can also borrow from the cash accrued while still living to pay for emergency expenses.
Universal life insurance is one of the most flexible life insurance policies because you get to choose what you pay and how often you pay it. This policy also gains cash value like a whole life policy and will earn interest along the way.
Long-term care insurance generally covers care not paid by health insurance, Medicare, or Medicaid. There are both traditional and hybrid long-term care policies. Contact us to help determine what type of long-term care insurance is best for you.
Disability income insurance offers income for indiviuals who are no longer able to work due to a disability. This can help protect you from financial loss if an accident or illness renders you incapable of working and receiving regular income.
Most insurance policies contain exclusions, limitations, reductions of benefits surrender charges, and terms for keeping them in force. The cash value and death benefit will be reduced by the amount of any outstanding loan balance plus interest. This may necessitate additional premium payments that could cause the policy to lapse and may result in a tax liability if the policy terminates before the death of the insured. Additional out-of-pocket payments may be needed if actual dividends or investment returns decrease, if you withdraw policy values, if you take out a loan, or if current charges increase. Guarantees are based on the claims-paying ability of the issuing company.