Life Insurance
Life Insurance
Investment Insight Wealth Management, LLC based in Massapequa, New York, offers a variety of financial services to help people protect their future. Our experienced staff will help you make the best decisions for your situation. Choosing life insurance coverage for yourself and your family members can be a complicated decision, but with our help, it doesn’t have to be.
Life Insurance Defined
Investing in life insurance will pay a dividend to a named beneficiary upon your passing. It is designed to pay for end-of-life expenses, debts you may be responsible for at your death, and to provide income to support your family members after your passing. With adequate life insurance coverage, you can insure your family members maintain the same standard of living they did while you were alive.
There are several types of life insurance available to choose from, each of them with their own set of advantages, depending on your financial situation.
- Term life insurance coverage pays the specific dollar amount you’ve paid for to the beneficiary you choose upon your death.
- Whole life insurance provides this protection, while also building cash value you can withdraw from in your lifetime. The premium cannot be changed with age.
- Variable life insurance offers a death benefit to your beneficiary, along with the ability to borrow from the policy during your lifetime. It does not offer flexibility concerning face amount or premium amount.
- Universal life insurance provides a death benefit, while also allowing you to earn interest on the cash value of your account, along with premium, and face amount flexibility. It does not allow you to invest in separate accounts, or to split or the money between accounts.
- Universal variable life operates the same way as universal life, except that you’ll have separate accounts to invest in, such as stocks, bonds, and money markets.