Life Insurance Agency in Salisbury, Maryland
LIFE INSURANCE
Life insurance
In its simplest form, life insurance is a financial product that pays a sum of money to a named beneficiary at the death of an insured individual. Insurance policies called "permanent" or "cash value" insurance develop cash values that have the potential to grow tax deferred, providing policy owners with a benefit they can use during their lifetime. Insurance proceeds are generally paid free from income taxes and they are not subject to probate. Thus, life insurance proceeds pass quickly and directly to the beneficiary.
Indexed Universal Life Insurance
If you’re looking for a product that offers death benefit protection and the opportunity to build long-term cash value accumulation, an Indexed Universal Life (IUL) may fit your needs. An IUL policy will provide security today with the cash value growth potential you need for tomorrow.
Term Life Insurance
Initially, term life insurance premiums are considerably lower than those of permanent life insurance, allowing you to purchase higher levels of death benefit coverage for a temporary period of time. This can be very important to young families that may have a limited budget but a significant need for a larger amount of protection. Term life insurance does not build equity in the form of cash value so it is often described as renting insurance protection rather than owning insurance protection.
Whole Life
Whole Life insurance offers guaranteed premiums that will not increase or decrease, a guaranteed death benefit plus the guarantee of building cash value within your life insurance policy. With Whole Life insurance, you defer current income taxes on the increase of the cash value within the policy.
Whole Life is frequently referred to as "permanent" insurance because unlike term policies, it remains in force for life, as long as the premiums are paid as scheduled.
Whole life insurance is what is known as a "participating policy" which means your policy may share in the issuing company's profits which are returned in the form of a dividend payment. Although not guaranteed, dividends payments are generally declared annually by the company's board of directors and are paid to the policy owner on the policy's anniversary date.
Dividend payments can be received in cash or used in a number of other ways such as to purchase additional insurance protection or reduce future premium payments.
In its simplest form, life insurance is a financial product that pays a sum of money to a named beneficiary at the death of an insured individual. Insurance policies called "permanent" or "cash value" insurance develop cash values that have the potential to grow tax deferred, providing policy owners with a benefit they can use during their lifetime. Insurance proceeds are generally paid free from income taxes and they are not subject to probate. Thus, life insurance proceeds pass quickly and directly to the beneficiary.
Indexed Universal Life Insurance
If you’re looking for a product that offers death benefit protection and the opportunity to build long-term cash value accumulation, an Indexed Universal Life (IUL) may fit your needs. An IUL policy will provide security today with the cash value growth potential you need for tomorrow.
Term Life Insurance
Initially, term life insurance premiums are considerably lower than those of permanent life insurance, allowing you to purchase higher levels of death benefit coverage for a temporary period of time. This can be very important to young families that may have a limited budget but a significant need for a larger amount of protection. Term life insurance does not build equity in the form of cash value so it is often described as renting insurance protection rather than owning insurance protection.
Whole Life
Whole Life insurance offers guaranteed premiums that will not increase or decrease, a guaranteed death benefit plus the guarantee of building cash value within your life insurance policy. With Whole Life insurance, you defer current income taxes on the increase of the cash value within the policy.
Whole Life is frequently referred to as "permanent" insurance because unlike term policies, it remains in force for life, as long as the premiums are paid as scheduled.
Whole life insurance is what is known as a "participating policy" which means your policy may share in the issuing company's profits which are returned in the form of a dividend payment. Although not guaranteed, dividends payments are generally declared annually by the company's board of directors and are paid to the policy owner on the policy's anniversary date.
Dividend payments can be received in cash or used in a number of other ways such as to purchase additional insurance protection or reduce future premium payments.
GROW YOUR FUTURE WITH FRANKLIN INSURANCE GROUP
"Many people take no care of their money till they come nearly to the end of it,
and others do just the same with their time."
Johann Wolfgang von Goethe
and others do just the same with their time."
Johann Wolfgang von Goethe
Annuities
Learn More |
Life Insurance
Learn More |
Tax Free Retirement
Learn More |
Property & Casualty
Learn More |
Our Customers
Learn More |
Reach out
CONTACT US |
