Stewart Financial Services
Life Insurance
One comprehensive plan for a lifetime of financial security.
For those seeking a reliable and secure financial plan, this brief video provides valuable insights on how the US tax code can offer a comprehensive approach to long-term financial stability. Without the uncertainties of investment risk, this plan offers accessible cash reserves and tax-free retirement income for a lifetime of financial security. We invite you to watch the video to learn more about the possibilities this exceptional opportunity offers. Our commitment to helping you achieve financial peace of mind is our top priority, so we welcome the chance to provide you with the insights and expertise to make informed decisions that align with your financial goals.
In this video, you will learn:
- Why everyone needs a “foundational” financial security plan.
- How the government provides tax incentives for this type of plan.
- A simple but comprehensive way to save, grow, and protect your money.
- All the options within a Lifetime Benefits financial security plan.
- The many tax advantages of a Lifetime Benefits financial security plan.
Types of Life Insurance:
Permanent life insurance:
Permanent life insurance provides protection throughout your lifetime as long as you continue to pay your premiums in full. Most permanent life insurance policies build cash value, which you can use for expenses later in life, such as paying off a student loan or purchasing a new car. Cash value is an attractive part of many permanent life insurance plans.
- Whole life policies are the simplest and have the strongest guarantees of any type of life insurance. These policies allow for the accumulation of cash value on a tax-deferred basis, which can be used when needed. Cash value builds slowly and steadily, but as it increases, growth accelerates. It pays to be patient! Universal life policies have flexible features that can be customized for you and your loved ones. The flexibility of universal life coverage allows for changes to the death benefit, as well as the size and timing of the policy's premium, to an extent. Therefore, as changes occur in your life, so too can your coverage.
- Your tax-deferred cash value account accumulates at least the guaranteed rate of interest but may accumulate at a higher rate, depending on current market rates. This means that you may receive more cash value than expected, or you may get none at all. Please consult with our professionals regarding overfunding to ensure that your universal life policy has enough cash value.
Term life insurance
Term life insurance provides you protection for a specific price over a specified period of time: usually 10, 15, 20, or 30 years. Coverage expires without value at the end of the term and you will need to either convert your policy to a permanent life insurance plan or purchase a new policy for a new term. Term life insurance pays out a specified lump sum to a beneficiary only in the event that you die before the policy expires. Term life insurance is somewhat less expensive than permanent live insurance due to the drawback of having an expiration date.
Different types of term life insurance are available for you. Let us modify a plan to fit your needs and provide you the maximum amount of protection for the least amount of premium.
- Annual Renewable Term– The death benefit is a level amount and will remain the same for the term period. This policy can automatically be renewed without having to provide evidence of good health each year. The premiums may however increase each year with age.
- Level Term – The death benefit is a level amount and will remain the same for the term period. Level term policies are usually purchased for a period of 10, 20, or 30 years and the premium generally remains stable over the entire period.
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