Huntsville, AL Life Insurance
No one wants to think about getting sick or losing someone important to them, but having those discussions and planning early can save loved ones from financial woes down the road. The professionals at Pepper, Johnstone & Company can definitely help you get a life insurance policy that is best for you, your family, and your business.
Types of Life Insurance
There are two types of life insurance, Term and Permanent. Term Life Insurance is the simplest form of life insurance. It pays only if death occurs during the term of the policy, which is usually from 10 to 30 years. Most term policies have no other benefit provisions. So, if you seek life insurance for a limited time – long enough to meet your anticipated responsibilities to those who depend on you, but not longer – Term Life Insurance may be right for you.
Permanent Life Insurance pays a death benefit whenever you die. There are three major types of permanent life insurance – whole life, universal life, and variable universal life, and there are variations within each type.
Why You Need Protection
Life insurance is an act of love and kindness that you perform. Life insurance offers many unique benefits that when structured properly, can provide considerable financial leverage to your family that is received both income tax and estate tax free1. In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for whatever they want, such as:
- Make up for your lost income, so current lifestyle can be maintained
- Fund your child's or grandchild’s education
- Pay off mortgage and consumer debt
- Create a source of tax-free funds to provide a comfortable retirement
- Fund estate taxes to prevent liquidation of your estate due to estate tax obligations
- Pay for your funeral and other related final expenses
With life insurance, you can fulfill your promises to yourself, your family, your charity and your business.
Get the protection you need in Huntsville Alabama
To learn more about our Life insurance products, speak with one of our experienced professionals today.
1. Properly structured and funded inside an Irrevocable Life Insurance Trust (ILIT).