Family Life Insurance & Retirement Services
Our customers trust J Burgess Consultants with all of their insurance and retirement planning needs and know that we care about their specific requirements. Most people would agree that life insurance can provide a huge benefit for your family. It helps you prepare for the uncertainties of life and provides you with peace of mind knowing that your family will have financial help if something were to happen to you. Give us a call to schedule a meeting and receive a no-obligation quote today.
PERMANENT LIFE INSURANCE
Permanent life insurance covers you for the rest of your life and pays out regardless of when you die, as long as you’ve paid your premiums. These types of policies also include a savings account called a “cash value component” that you can withdraw from or borrow against while you’re still alive. Depending on the policy, you may be able to adjust your premium payments and coverage amount to fit your needs.
Indexed Universal Life
(IUL)
Consider an Index Universal Life (IUL) insurance policy if you:
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Are seeking an income tax-free death benefit to support your family or your business.
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Are interested in the cash accumulation potential IUL provides.
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Might want to access cash value during your lifetime.
Indexed Universal Life Insurance (IUL) is a type of permanent life insurance product that credits interest based in part on the upward movement of a major financial index, subject to certain limitations.
Universal Life
Universal Life provides the flexibility of varying the amount of your premium payments and a guaranteed minimum death benefit — as long as your paid premiums can cover it. If you don’t keep up with the minimum payments, your death benefit payment can be reduced or the policy could lapse. This type typically offers lower premiums and more flexibility than Whole Life, but weaker guarantees and cash value growth potential.
Whole Life
With Whole Life your premium payments are fixed for the life of your policy. Whole Life offers a guaranteed death benefit, and guaranteed cash value growth, with some additional non-guaranteed cash value growth potential. As long as you pay premiums, your beneficiary will receive the benefit amount upon your death.
TEMPORARY LIFE INSURANCE
Temporary life insurance is often referred to as a Term life insurance policy or a policy that you rent. The reason is because term life insurance is only meant to cover you for a temporary or limited period of time.
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TERM LIFE INSURANCE
Also known as pure life insurance, term life insurance is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term. Once the term expires, the policyholder can either renew it for another term, convert the policy to permanent coverage, or allow the term life insurance policy to terminate.
These policies have no value other than the guaranteed death benefit and feature no savings component as found in permanent life insurance products.
LIVING BENEFITS
In some cases, traditional life insurance will not cover the burdensome costs involved when a chronic, critical, or terminal illness strikes a policy holder. There is a solution...one that provides relief from the financial demands of such events of a serious illness. Many term and permanent life insurance policies offer an add-on called “living benefits.” In the event of a long-term, catastrophic, chronic, critical, or terminal illness, the death benefit can be accessed while the policy holder is still alive.
FINAL EXPENSE INSURANCE
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Final expense insurance is a type of whole life insurance designed to cover medical bills and funeral expenses when you pass. A final expense policy is also known as burial or funeral insurance and is popular with seniors. Final expense insurance is a type of Whole Life insurance that will not expire as long as premiums are paid.
Also the most cost-effective way to cover burial costs and any other expenses you provide for your loved ones. If you absolutely need financial protection in the event of your death and your current age or health would disqualify you from getting traditional life insurance coverage, a final expense life insurance policy may be worth looking into.