Insurance Strategies Group specializes in senior life insurance and financial products. We help affluent seniors and their financial advisors find options and solve problems in the many areas that impact senior financial planning including life insurance.

Life insurance is a valuable financial and estate building tool that offers many advantages beyond the death benefit. These benefits will vary depending on the type of policy chosen and there are many living benefits that come from a life insurance policy.

The two major types of life insurance are term and permanent.
Term life insurance provides basic insurance protection for a fixed amount of time. At the end of the term the policy expires without value or in some cases may be renewed, generally at higher premiums.
Permanent "cash value" life insurance is generally designed to provide long-term life insurance coverage for the insured's entire life, while a cash value accumulates tax free inside the policy.

Benefits of Permanent Life Insurance

Your coverage is life-long regardless of health. With few exceptions, the policy cannot be cancelled due to health conditions that develop, as long as premium payments are made. Future insurability problems can be eliminated.
Your policy builds cash value. Permanent insurance pays dividends and/or may accumulate cash value inside the policy.
You pay no current income tax on interest or other earnings credited to cash value. The cash inside your policy accumulates tax free.
You pay no income tax if you borrow cash value from the policy. Cash value that accumulates in the policy may be available for loan purposes. This amount may be used in the future for any purpose you wish. You can borrow from a cash value policy to meet your needs. You may have to pay loan interest and it may affect your total policy values.
You can avoid possible probate costs and estate taxes. Probate costs and estate taxes may be eliminated on the death benefit as long as the beneficiary designations and policy ownership are arranged in accordance with current law.
Your heirs receive a tax free death benefit. The proceeds from a life insurance policy are tax free to your heirs.
You can provide an estate for your heirs. For the insured person able to pay premiums life insurance is one of the best ways to create an estate for your family and heirs.

Benefits of Term Life Insurance

You can obtain needed coverage without breaking the bank. In most cases, term insurance premiums are less expensive than permanent insurance coverage on life insurance policies of the same face value.
You can supplement your insurance coverage needs for a specific time period. If insurance needs are high for a certain time period and then decrease term insurance may be the right solution. Term insurance can provide that needed coverage over a fixed time period when a family and other financial obligations are growing rapidly and outpacing income.
You can avoid possible probate costs and estate taxes. Probate costs and estate taxes may be eliminated on the death benefit as long as the beneficiary designations and policy ownership are arranged in accordance with current law.
Your heirs receive a tax free death benefit. The proceeds from a life insurance policy are tax free to your heirs.
You can provide an estate for your heirs. For the insured person able to pay premiums life insurance is one of the best ways to create an estate for your family and heirs.

What is Life Insurance?

Life insurance is a financial resource for your family and loved ones in case of your death. It is a contract between you and an insurance company in which the company provides your beneficiary(ies) with a certain amount of money upon your death. In return, you make periodic payments (premiums) in an amount that depends on medical history, age, gender, and occupation.

What is Term Life Insurance?

Term is the simplest form of life insurance, it is the least expense and least complicated form of life insurance. Coverage is for a fixed amount of time, usually 1 to 30 years, and the beneficiary receives a fixed sum if the insured dies during the term. At the end of the term the policy expires and coverage ceased; however, term life insurance can be renewed. Term life is the a good choice for individuals who who are looking for temporary coverage.

What is Whole Life Insurance?

Provides both a death benefit and a dividend. A fixed premium is charged over the length of the contract. Over time the policy increases in tax deferred value. Most policies provide a dividend to the policy holders which helps with retirement.

What is Universal Life Insurance?

The most flexible plan. The policy holder is able to adjust the benefit/premium mix to best serve their current financial needs, within the limits set by the policy. The payout is the accumulated value of the policy at time of death. One added benefit of a Universal policy is the ability to skip payments if the need arises.

What is Variable Life Insurance?

Allows the policy holder to tie the accumulated value of their policy to the financial markets. While these policy enable a higher return, they also increase risk as down markets occur. You can borrow against a variable policy.

What are Premiums?

Premiums are the periodic payments (Usually monthly or quarterly) that the policy holder pays to the insurance company to purchase and keep a policy in force.