Don’t leave the financial future of your loved ones to chance. Life insurance will provide you with the peace of mind that your family will be taken care of when you are gone.
The Fite Agency will not only help you find the best life insurance coverage for your unique situation, but will help ensure that your policy will continually meet your needs.
Life changes – your policy should too.
For each of our neighbors in Heath, the right insurance policy will look different for each resident, depending on varying personal and financial needs. Your life insurance coverage may need to adapt in order to meet your current needs or reflect the changes you have experienced in your life. If you have experienced any of the following life events, you may need a policy “tune-up” and our help at The Fite Agency:
– You recently bought a new home
– You refinanced your home mortgage in the past six months
– You are planning for your child or grandchild’s education
– You have a new child or grandchild
– You recently got married or divorced
– Your child or grandchild needs assistance or long-term care
– You have opened or expanded a business
– You are providing care or financial assistance to a parent
– Your health or your spouse’s health has declined
– You are worried about your retirement income
– You have a large estate
– You or your spouse recently received an inheritance
Are you unsure about which coverage you need? No problem. The Fite Agency will help you select best coverage options for your unique needs.
Some of the most common life insurance products available include:
Term Life Insurance
Term life insurance provides you with protection for a specified period of time, and is available in various time periods with fixed premiums. These time periods range from a one year (with an annual renewable term) to a 20-year (with a level term) period. If you do not currently have life insurance, term can be a good place to start, as it is generally less expensive than a permanent (or whole) life insurance policy. Furthermore, term life insurance is often convertible to permanent coverage, giving you flexibility as your needs change.
Whole Life Insurance
Whole life insurance is a type of permanent life insurance, and will protect you for your entire lifetime, provided that premiums are paid as noted in your policy. In addition to coverage, whole life insurance can also be used an investment vehicle, as many whole life insurance policies are able to build cash value over time.
Universal Life Insurance
Universal life is a type of permanent life insurance, and is characterized by its face amounts, flexible premiums, and unbundled pricing structure. Universal life insurance policies can also build cash value over time, earning an interest rate that may adjust occasionally, but is usually guaranteed to never fall below a certain percentage.
Are you unsure about which type of life insurance is the best for you? Talk with one of our helpful team members at The Fite Agency at: 972‐564‐676, and we will assist in identifying the best protection for you.
What are the advantages of having life insurance?
Having the right life insurance policy is crucial to planning well for your present and your future. Life insurance will provide assurance for your family when you are gone, and many life insurance options offer a variety of other benefits and investment opportunities that you are able to take advantage of while you are living.
Advantages of the life insurance death benefit: After you pass away, your life insurance will provide income tax-free money to any named beneficiary or beneficiaries on your policy. These tax-free funds can be used to pay for funeral expenses, debts, estate taxes, tuition, or literally any other financial need. In addition, your policy can help provide added security for your business by allowing partners to buy out the interests of a deceased partner and prevent forced liquidation.
Advantages of living benefits: Cash value growth of a permanent (or whole) life insurance policy is completely tax-deferred, which means that you do not have to pay taxes on the cash value growth, unless any money is withdrawn. In addition to this, loans or withdrawals are permitted to be taken against the cash value of a permanent life insurance policy to help with any expenses such as the down payment on a home or college tuition.
The right coverage for each of our neighbors in Heath is unique.
Call the Fite Agency team today to find out how you can protect your family and your future with the right life insurance policy.
