LIFE
INSURANCE
TYPES OF LIFE INSURANCE
FINAL EXPENSE
When individuals pass away, they often leave behind unpaid expenses such as loans, credit card debt, estate costs, and funeral expenses. These outstanding obligations can place a significant burden on their families. Final expense coverage is a form of life insurance that is specifically designed to pay off these debts, providing assurance that all financial matters will be taken care of in the event of one’s passing
TERM
Term Insurance is an affordable form of insurance when purchased initially, and it is intended to meet temporary needs. It offers protection for a specified period of time, known as the “term,” and typically pays a benefit only if you pass away during that term. This type of insurance is often suitable when you have a specific coverage requirement that will no longer be necessary after a certain point in time. For example, you might determine that you only need coverage until your children complete their college education or until a specific debt, such as your mortgage, is paid off.
GUARANTEED ISSUE
Guaranteed issue life insurance is a type of life insurance that guarantees acceptance to individuals without requiring a medical exam or health questions. It offers coverage for those who may have difficulty qualifying for traditional life insurance due to health issues. While premiums may be higher and coverage amounts lower, it provides peace of mind knowing that loved ones will receive a death benefit. There is typically a waiting period before the full death benefit is available, usually two to three years.
WHOLE LIFE
When individuals pass away, they often leave behind unpaid expenses such as loans, credit card debt, estate costs, and funeral expenses. These outstanding obligations can place a significant burden on their families. Final expense coverage is a form of life insurance that is specifically designed to pay off these debts, providing assurance that all financial matters will be taken care of in the event of one’s passing
COLLEGE AND GROWING UP
We offer Gerber’s “College and Growing Up” plan as an additional life insurance policy designed to help parents save for their child’s future education expenses. It combines the benefits of life insurance protection with a savings component. The policy provides a death benefit that can be used to cover college costs in the event of the insured’s passing, while also accumulating cash value over time. This plan offers parents a way to financially prepare for their child’s education while providing life insurance coverage for added peace of mind.
We are partnered with most major carriers
ALL RIGHTS RESERVED - SENIOR INSURANCE ADVICE OFFICE
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. This is a proprietary website and is not associated, endorsed or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program please visit the Official U.S. Government Site for People with Medicare located at http://www.medicare.gov