Why is life insurance important to have?
Life insurance is for those you love and could leave behind. It can also diversify your savings to help you live life to its fullest. Each type of policy offers a different type of benefit, so your coverage can grow and adapt to your changing needs. No matter where you are in life, life insurance offers a variety of products designed to help you with all of life's major events.
Would your family face financial hardship if you passed away unexpectedly?
How would an unexpected death impact your family?
If you’re the primary wage earner for the family, is your family in a position to handle the financial hardship they could face?
If you are the major breadwinner or a major contributor to family income, you should be insured. A life insurance policy can mean the difference between your family keeping the home in which you live and losing it to debt if you are no longer able to provide for them.
Life Insurance for every stage of life’s journey
Living the single life
Take your burdens with you
Life insurance can pay expenses when you’re gone. Think about your funeral, private or co-signed student loans, and any other debt. And if you outlive your single days, you’ll diversify savings early and lock in a lower cost while you’re young and healthy.
Tying the knot
Help your spouse continue the lifestyle you’d created.
Life insurance can replace your income, covering your portion of the ongoing expenses they’ll still have. And it can pay for large expenses, like the funeral, or personal or shared debts like a mortgage.
Give them the same experiences and opportunities
Life insurance can’t replace a parent, but it can help with final expenses and replace income. Then others can afford to raise the kids as you’d planned, save for college and emergencies, and pay for family responsibilities you handled.
Safeguard the retirement of your dreams
Life insurance can still help replace income, pay for final expenses, and address debt, so your spouse can afford retirement on their own. And living benefits can also help with unexpected medical costs, so you don’t dip into retirement savings too soon.
Relaxing in retirement
Live the lifestyle you earned, and leave a legacy, not a liability.
Life insurance can help you leave a legacy— inheritance to loved ones or charities instead of debts and bills. And until then, certain policies can supplement retirement income and provide access to cash if you become chronically ill.
Own a business?
Protect your business, your employees, and your lifestyle.
Life insurance can fund business succession strategies, supplement your retirement savings, protect and reward key employees, cover debts for creditors, and more.
Life Insurance Solutions
Term Life Insurance
Temporary insurance plans with Low-cost death benefit protection. Conversion privileges to permanent life insurance products are offered with some plans.
Whole Life Insurance
Permanent life insurance protection with guaranteed level premiums, cash value growth, and death benefit. Some policies pay dividends that can be used to reduce premiums or increase cash values and death benefits.
Universal Life Insurance
Offers clients permanent protection with flexible payments, adjustable coverage, and oftentimes cash value growth.
Indexed Universal Life Insurance
Offers the flexibility and guarantees of traditional Universal Life with greater cash value growth potential. Participate in stock market growth without being exposed to its loses.
A basic life insurance policy that covers people until they reach the age of 100 or 121. It is an easy insurance to obtain, that doesn't require a medical exam with a short and sometimes instant approval process.
Corporate Owned Life Insurance
Corporate Owned Life Insurance is a product designed for a variety of uses. It can be used to finance business succession plans or buy-sell agreements, nonqualified deferred compensation plans for executive leaders, and to protect the organization from the financial loss of key employees.
Life Insurance As An Asset
The financial benefits of cash value life insurance policies
Pay fewer taxes in retirement
A cash value life insurance policy can provide a source of tax-free income to supplement taxable income from assets such as a 401K, or individual retirement account (IRA). Life insurance also offers the following benefits:
- Income tax-free death benefit to your beneficiaries
- Tax-deferred cash value growth
- No penalty for withdrawals prior to age 59 1/2
- No income-based funding limits
Prepare for health surprises
Select life insurance policies include an additional coverage option that allows you to receive a portion of the death benefit typically paid at your death if you are diagnosed with a chronic illness. It gives you a way to offset medical costs while preserving your retirement nest egg for you and your family.
Get more value for your money
Most assets take time to accumulate value. With life insurance, there is no build-up period. Your policy's death benefit is available to your loved ones whether you've been paying premiums for 40 years or just one.
Want to create your own family bank with life insurance?
Contact us to get a policy customized for high cash value that can be used to finance all of your major life events
Frequently Asked Questions
Most people overestimate the cost of life insurance by 300% or more. The cost varies based on your unique situation. The biggest factors that can affect your premium include your coverage amount, term length, age, health status, and tobacco use.
The sooner you buy, the sooner you'll lock in your lowest premium–and save the most money in the long run.
Employer-sponsored policies typically offer coverage that is about 1-2X your annual salary, which is a fraction of what most families need. And if you leave your job, that coverage usually ends. A common rule of thumb is to have 10X your salary in life insurance protection, which is why many people buy individual term policies to supplement their coverage through work.
Life insurance policies have a 30-day free look period. If you cancel the policy within the first 30 days, you will receive a full refund of the premium paid. After 30 days, you may cancel your policy at any time without cancellation fees.
A common and easy way to come up with a coverage estimate is to multiply your annual income by 10. Another way is to calculate your long-term financial obligations and then subtract your assets. The remainder is the gap that life insurance needs to fill.
What people are saying
"Words cannot express my gratitude for the exceptional service provided by Alfa Pride Financial in helping me get life insurance. My agent patiently guided me through the process, addressing all my concerns with empathy and understanding. Thanks to his expertise and support, I now have peace of mind knowing that my loved ones are protected financially."
— Ragina T., Guidance Counselor
I am forever grateful to Alfa Pride Financial for helping me navigate the complexities of life insurance. Their compassionate advisor took the time to understand my unique needs and tailored a policy that perfectly suits my situation. His attention to my well-being and the future security of my family is truly heartwarming.
— Monique M., College Advisor
My agent turned a daunting task into a seamless experience. He was a caring professional who walked me through each step of obtaining life insurance, patiently explaining the options and finding the best fit for my circumstances. His dedication to ensuring my loved ones' financial stability has made a significant difference in my life.
— Lauren R., Therapist
Working with my advisor to get a life insurance policy for my father was an incredibly heartwarming and impactful experience. He understood the significance of protecting my father's legacy and ensuring his financial security. He patiently walked me through the process, addressing my concerns with empathy and expertise. Thanks to his unwavering support, I can rest easy knowing that my father's future is safeguarded, and our family's peace of mind is restored. I am forever grateful to Alfa Pride Financial for their genuine care and dedication.
— Maribel C., Registered Nurse
Choosing Alfa Pride Financial for life insurance was the best decision I made. Xavier's personalized approach made me feel valued and understood. He went above and beyond to find the right policy that fits my needs. I am grateful for his unwavering support and highly recommend his services.
— Dwayne S., VP, Sales & Marketing
My advisor made the process of getting life insurance a breeze. He was empathetic and understood the importance of protecting my family's future and worked tirelessly to find the most suitable policy for us. His expertise, combined with his caring approach, gave me the confidence that I made the right choice for my loved ones.
— Joselyn M., Business Owner
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