Personal Insurance

Individual Life Insurance

A solid plan is better than no plan.

Having a Life Insurance policy to protect your loved ones is regarded as a sound financial planning tool.

photo familyThere are numerous benefits of having a life insurance policy, including:

  • To protect your loved ones from income loss and financial catastrophe. Whether you have young children, a spouse or even elderly parents that depend on your income, in the event of death your Life Insurance policy can serve as a partial replacement for that lost income so that your loved ones do not endure financial crisis.
  • Life Insurance can pay for your final expenses, such as burial costs, estate planning and administration costs, debts and medical expenses, so that your loved ones will not be unexpectedly burned by these costs.
  • Life Insurance can be an inheritance to your heirs even if you currently have no assets.
  • Life Insurance can be used to pay estate taxes, so that your heirs won’t be forced to sell assets at fire sale prices to cover tax payments.
  • Life Insurance can also be a form of savings account since some policies allow you to build cash value, which can be withdrawn or borrowed at your request.

icon-term-life-insComplexities aside, life insurances offer you peace of mind regarding the financial future of those that depend on you, and can be a part of your overall legacy. Benefits can range from covering final expenses to paying for higher education for your children and mortgages. Knowing the facts will help you to purchase the right policy for your and your loved ones’ specific needs.

Life Insurance FormHere are some basic life insurance terms and definitions:

  • Premiums – Monthly, quarterly, or yearly payments required to maintain coverage
  • Face Value – The original death benefit amount
  • Convertibility – Option to convert from one type of policy (term) to another (whole life)
  • Cash Value – The savings portion of a policy that can be borrowed against or cashed in
  • Beneficiary – The individual(s) or entity (e.g., trust) that is designated as benefit recipient
  • Paid Up – A policy requiring no further premium payments due to prepayment or earnings

Contact us today for a free quote. We represent hundreds of Life Insurance Carriers and can quote all of them very easily to get you the most coverage and the lowest premium cost available anywhere.

The following agents are trained in this specialized area of coverage:

Jay Semaan:
jsemaan@hmbd.com
Travis England:
tengland@hmbd.com
Dan Roddy:
danrod@hmbd.com