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Products & Services
Explore our life insurance products & solutions.
Serving as a cornerstone of financial security for your loved ones, life insurance plays a pivotal role in various domains. Business owners find it indispensable for maintaining operations, ensuring financial support in case of an unexpected partner’s demise. Specific life insurance policies can act as a supplementary income source in retirement, guaranteeing a comfortable lifestyle in your golden years. Additionally, life insurance enhances estate planning, facilitating seamless wealth transfer to heirs with minimal tax implications, thus securing a lasting legacy.
Beyond these advantages, life insurance offers living benefits. Certain policies accumulate cash value over time, forming a financial cushion for various needs, such as education, medical expenses, or emergencies. It’s not a one-size-fits-all solution; it’s a versatile tool tailored to your unique financial goals. Our experts are here to help you harness its full potential, ensuring the financial well-being of your family and your peace of mind.
- Key features of term life insurance include:
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Temporary Coverage
Term life insurance provides coverage for a specific period, and if the insured person does not pass away during that time, there is no payout at the end of the term.
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Affordability
Term life insurance is generally more affordable than other types of life insurance, such as whole life or universal life, because it does not have a cash value component or investment features.
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Fixed Premiums
The premiums (the regular payments made to the insurance company) are typically level throughout the term, making it easier for policyholders to budget for their insurance.
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Flexibility
Many term life insurance policies offer the option to renew or convert to a permanent life insurance policy at the end of the term.
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Customizable Term Length
Policyholders can select a term length that aligns with their needs and financial goals. Common terms include 10, 15, 20, or 30 years.
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Death Benefit
The primary purpose of term life insurance is to provide financial protection for the policyholder's loved ones in case of their death. This money can be used to cover living expenses, pay off debts, fund education, or serve other financial needs.
- There are several key features of permanent life insurance:
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Lifelong Coverage
Permanent life insurance is not limited by a specific term. It provides coverage for the entire lifetime of the insured person, from the time the policy is purchased until the insured's death.
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Cash Value Accumulation
One of the distinguishing features of permanent life insurance is that it includes a cash value component. A portion of the premiums paid goes into a savings or investment account within the policy. Over time, this cash value accumulates and can be accessed by the policyholder through withdrawals or loans. The cash value typically grows tax-deferred.
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Level Premiums
Premiums for permanent life insurance policies are often higher than those for term life insurance, but they remain level throughout the life of the policy. This means that the premiums do not increase with age.
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Death Benefit
Like term life insurance, permanent life insurance provides a death benefit that is paid out to the beneficiary upon the death of the insured. This benefit is typically tax-free to the beneficiary and can be used for various purposes, such as paying for funeral expenses, estate taxes, or providing financial support to survivors.
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Flexibility
Some permanent life insurance policies offer flexible options, such as the ability to adjust the death benefit, premium payment schedule, and the use of the cash value.
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Death Benefit
The primary purpose of term life insurance is to provide financial protection for the policyholder's loved ones in case of their death. This money can be used to cover living expenses, pay off debts, fund education, or serve other financial needs.
life insurance benefits
Why invest in insurance with Eagle Legacy & Financial?
Wish for the best
While we all desire long and healthy lives without unforeseen health challenges, it's also prudent to make provisions for unforeseen circumstances.
Create a strategy
One of the most significant acts of care you can offer your loved ones is creating a comprehensive plan to provide for them when you're no longer present. Spare them the difficulties of financial strain and insecurity. We're here to aid you in developing a plan that aligns with your financial means and way of life.
Prepare for the worst
Ready yourself for unforeseen circumstances. Currently, we are experiencing longer lifespans than in the past, yet, there are moments when life throws us unexpected challenges. Health issues that persist or lead to disability can erode our financial resources and have a profound effect on our savings. But, by having a well-thought-out strategy, we can mitigate the repercussions of these unpredicted situations.
