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Life Insurance

Life Insurance

Sometimes life throws unexpected curveballs our way. Life Insurance is a cost-effective way to ensure that your family is taken care of. At Wealth Guardian Financial we offer a wide variety of life insurance options. These include Term Life, Whole Life, Universal Life, and Indexed Universal Life. We only partner with the best insurance companies so our Client’s know they are safe.

Read below to find out more about the different policies that we offer.

Term Life

A Term Life policy covers you for a specific time period or term. It tends to be less expensive than Whole or Universal Life. However, if you die outside of the term of your policy, your beneficiaries will not receive the death benefit.

There are two different types of Term Life Insurance. The first is renewable term. This kind must be renewed every year. Premiums will start out low but will rise as you age. The second type is level premium. It is more common than renewable term. You purchase a level premium policy to cover you for a specific number of years (typical 5, 10, 20, or 30 years). During your policy time period, your premium will not change.

Whole Life

Much like the name suggests, a Whole Life Policy will cover you for your entire life. Premiums are substantially higher than term life because the insurance company knows they will have to pay out your death benefit. You are guaranteed your premium will never change. Whole life policies also accumulate a cash value that you can borrow against.

Universal Life

This is a type of permanent life insurance that offers a cash value. Premiums that you pay for universal life policy go to two different places. Part goes towards the cost of insurance and the other part goes towards your cash value. After your cash value reaches a certain amount you will be able to borrow against it. Also, you can even use any interest accumulated by your cash value to pay your premiums. However, if you do not pay back the money you borrow it may reduce the death benefit paid out to your beneficiaries.

Indexed Universal Life

This type of policy is very similar to Universal Life. The main difference is that you have the option to allocate cash value amounts to a fixed or equity indexed account. Doing this will allow your cash value to grow even faster. Due to this, Index Universal Life policies are helpful retirement planning tools since they offer tax-deferred cash accumulation.

1705, 2021

Life Insurance and COVID-19

By Annick Rodarte|2021-05-17T14:05:21-07:00May 17th, 2021|Financial|

Life Insurance and COVID-19   With the effect of COVID-19 still in our communities and on our economy, you may wonder if it has influenced life insurance as well. In this article, we will go over some aspects you should take into consideration if you are looking to purchase a life insurance policy during the COVID-19 pandemic. Will Your Life Insurance Payout If You Die From COVID? As a rule, your life insurance policy [...]

2312, 2020

Accidental Death and Dismemberment Insurance

By Annick Rodarte|2021-07-26T01:46:50-07:00December 23rd, 2020|Financial|

Accidental Death and Dismemberment Insurance Accidental death and dismemberment insurance is a type of life insurance. It can either be a rider to an existing policy or a standalone policy. In this article, we will go over the basics of how accidental death and dismemberment insurance works. What is Covers AD&D insurance will provide coverage for you or your family in the case of an accident. The definition of these terms will differ between [...]

2810, 2020

Final Expense Insurance

By Annick Rodarte|2020-10-27T12:40:29-07:00October 28th, 2020|Financial|

Final Expense Insurance Final expense insurance is a type of whole life insurance policy. These policies have small death benefits and can be used to cover the final expenses of someone’s death. This includes funeral or memorial services, embalming, casket, or cremation costs. In this article, we will go over the basics of final expense insurance to see if this type of policy is right for you. The Basics Final expense insurance is permanent life [...]

2708, 2020

Whole Life Insurance Basics

By Annick Rodarte|2020-09-24T16:33:24-07:00August 27th, 2020|Financial|

Whole Life Insurance Whole life insurance is a type of life insurance. It is sometimes referred to as permanent or traditional insurance. In this article, we will go over the basics of whole life insurance to help you determine if it is the right choice for you. The Basics Whole life insurance provides coverage for the entire life of the insured. When the insured passes the insurance company will pay out a lump sum, [...]

2207, 2020

Whole Life and Universal Life

By Annick Rodarte|2020-09-25T08:53:46-07:00July 22nd, 2020|Financial|

Whole Life and Universal Life Whole life and universal life are both types of permanent life insurance. This means that they provide you with coverage for your entire life, not just a time period. In this article, we will compare whole life and universal life to help you determine if either is a good fit for you. Whole Life Insurance Whole life insurance allows you to combine insurance coverage and savings. How is this [...]

2105, 2020

Overlooked Life Insurance Policy Features

By Annick Rodarte|2020-09-25T10:03:30-07:00May 21st, 2020|Financial|

Overlooked Life Insurance Policy Features Even though many people have insurance policies, they often have overlooked life insurance policy features. In this article, we will go over 5 overlooked life insurance policy features so you can take advantage of them. Waiver of Premium If your policy has this feature, your insurance company will waive your premium if you are seriously ill or disabled. This will keep your policy from lapsing if you never need [...]

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