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Deciding on the right Individual Life Insurance policy usually depends on your future goals. We can help you choose the policy that will fit your needs at an affordable price.
Individual Life Insurance
can be important for:
A source of savings
If not paid out by death benefit, some types of life insurance can have a cash value.
Final expenses
using life insurance to pay for funeral and burial expenses.
Income for dependents
A life policy can provide much needed income for your dependents when you die. Many times this is used for children, but can also be used for a partner that has a loss of income.
Inheritance
Using a life insurance policy as an inheritance even if you don't have substantial assets to pass on to your beneficiaries.
Used to pay taxes
Making a charitable contribution
Protect what you love and save up to 30%
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Types of instive Insurance
Stories and information to help you plan, prepare and protect what matters most.
Life Insurance Options
Generally age and health are the most important factors in the premium you will pay. Although you can purchase a policy at any age, the younger you are the more affordable the policies will be. All life insurance policies are designed to pay a benefit when someone dies.
The two most common types of life insurance are Term and Whole (or Permanent) policies.
TERM INSURANCE
Term Insurance is usually the most affordable type of coverage. The term of the policy usually lasts between 1 and 30 years and pays only if a death occurs during the policy term. Most term policies have no other benefit provisions. Term policies can be a level term which means the death benefit will remain the same throughout the duration of the policy, or they can be a decreasing term which means the death benefit drops over the course of the policy’s term. When the policy term ends, you may or may not qualify for new coverage based on your health, and based on your age, the cost of the premium may be too high to be affordable.
WHOLE OR PERMANENT INSURANCE
The advantage of Whole or Permanent Insurance is the death benefit and premium will usually remain the same during the duration of the policy. These policies can also build cash value which may be withdrawn or loaned similar to a savings account. There are three types of whole life insurance: traditional whole life, universal life, and variable universal life, and there are variations within each type.
Our agents at EIG can guide you through the different types of life insurance policies available and help you choose the policy that will best fulfill your unique needs and goals.
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I loss my pasport?
Protecting businesses place great weight on lots of things. But what we don’t really seem.
My expensive laptop is stolen
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medical cover
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I require medical treatment ?
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I have an accident in my rental car
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Aliquam posuere gravida wolf moon retro. Hella ironic before they sold out
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Helping you plan, prepare and protect what matters most.
Individual Retirement
We are living longer and having the need for a stable retirement plan is becoming increasingly necessary in today's society. This longevity is putting a greater demand on having more retirement assets. At EIG, we can help you navigate through all the information and calculators to determine your best path of action when developing or adding to an existing retirement plan or portfolio.
Want to retire with a steady income? Need to protect your family's future? We can teach you the pitfalls to retirement plans and how taxes, fees and risk may affect or reduce your overall retirement fund. If you're not happy about your current financial situation, maybe it's time to get an evaluation from one of the professionals at EIG.
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We offer both personal and commercial policies and opportunities to bundle for great savings!
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WE’RE HERE TO HELP!
EIG is your trusted provider of both personal and commercial insurance. Contact us today to build a personalized quote.
Financial Services
Here are some additional lines of insurance that we service:
- 401(k) Plans
- 401(k) Rollover Planning
- College Funding
- IRA’s
- Mutual Funds
- Tax-Free Bonds
- Individual Annuities
Our agency provides a wide range of products to help plan your financial future and build a solid retirement plan. Learn more about our different policies and products by contacting us today.
Individual Annuities
You should consider annuities when developing your long term financial plan. Annuities give you the opportunity for lifetime payments and tax-deferred earnings. Our advisors at EIG can assist you in mapping your retirement strategy and how annuities can help your financial security.
Annuities can be classified in different ways and categories. Some of these ways include: the purpose of the annuity, pay-out, tax status, & how the premium is paid.
Immediate Annuities
For a specified period of time or for the rest of your life, you can use an immediate annuity for regular payments. Immediate annuities are single payment annuities. A large sum of cash can be used for income for a specific time frame. These are not intended to offer liquidity or growth.
Income Annuities
An annuity that is fixed or variable paying a certain monthly amount. Income annuities are usually purchased in a lump sum and are used to provide a stable income for retirement.
Deferred Annuities
This annuity will begin payments from a specific date. Usually these are purchased with payments or sometimes a single payment. These payments are typically made while the insured is working in order to receive payments during their retirement.
Fixed Annuities
This annuity is used for retirement or savings for long term investors that want to have the stability of a fixed interest rate with no risk that they'll every lose any of the principal. A fixed annuity will provide steady and guaranteed growth with the tax-deferred benefit.
Variable Annuities
With a variable annuity, the insurance company pays periodic payments to you either now or at a future date. The insured might see higher growth from a variable annuity, but will also be at risk from market changes. Variable annuities will vary with the performance of the investment options that are chosen.
CONNECT WITH US TO BEGIN YOUR PERSONALIZED QUOTE
We offer both personal and commercial policies and opportunities to bundle for great savings!
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Already a customer? CONTACT US
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