Life Insurance gives you the opportunity to create an estate for your family with minimal funding. A Life Insurance Policy is an agreement between an insured individual and a life insurance company which stipulates that the insurance company will provide either a specified sum or periodic income to your selected beneficiaries in the event of your death. At SMG Business Solutions, we offer three options for your Life Insurance needs – Whole Life Insurance, Term Life Insurance, and Universal Life Insurance. Life insurance can be used in many ways. Here are some ways a Life Insurance Policy can help you and your family:
- Life Insurance provides funds to cover final expenses (funeral, burial, etc.)
- Life Insurance provides funds to repay loans and mortgages
- Life Insurance provides sufficient investment capital to replace your lost income to help support your dependents
- Life Insurance provides for the elimination of estate taxes on monies and property you leave to your children
- Life Insurance provides capital for bequests or gifts to relatives, charitable organizations, etc.
- Life Insurance provides a tax haven which can allow either tax-deferred or tax-free treatment for your investment dollars