Are You Covered

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Life Insurance Presentation

Life Insurance Presentation

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  • 1. Are You Covered? Better coverage for what’s important to you. Life Insurance Presentation Presenter: Phaedra Saunders EMCC Benefits
  • 2. What is Life Insurance?
    • Insurance for you and your family’s peace of mind.
    • A basis of protection and financial stability after one’s death.
    • A form of savings if you purchase a plan which offers the option of contributing regularly.
  • 3. Why is Life Insurance Important?
    • LIMRA International (Life Insurance and Market Research) reports that as of the end of 2008, 68 million adult Americans do not have life insurance
    • Cover financial commitments such as day-to-day living expenses, unsettled medical bills, mortgages, burial costs
    • Support family and dependants
    • Protect a business
    • Serve as a retirement investment
  • 4. Types of Life Insurance
    • Term Life
    • Whole Life
    • Universal Life
    • Final Expense
  • 5. Policy Characteristics – Term Life
    • Term Life – Offers temporary protection because it provides coverage for the term of the years specified in the contract.
    • Level death benefit, no cash value (living benefit)
    • Can purchase a large amount of coverage for a relatively small premium
    • Most term policies are renewable and convertible
  • 6. Policy Characteristics – Whole Life
    • Whole Life – Offers permanent protection as long as the premiums are paid coverage will continue for the life of the insured
    • “ Locked” in level premium amount that will not increase over the insured’s lifetime
    • Builds cash values (living benefits), which the policyowner can borrow against or is entitled to, in the event the policy is surrendered
  • 7. Policy Characteristics – Universal Life
    • Universal Life – Death benefit can be increased or decreased depending on the insurance needs of the policyowner
    • Insurance component (annual renewable term insurance)
    • Cash account which accumulates on a tax deferred basis each year and earns either the guaranteed contract rate or the current rate
    • Policyowner has the “flexibility” to increase or decrease the amount of premium going into the policy.
  • 8. Policy Characteristics – Final Expense
    • Final Expense – Lessens the family’s burden of outstanding debts from final expenses.
    • Eligibility age up to 75 years old (85 years old with some carriers). Easy qualification
    • Premium guarantee – premiums never increase due to age or health
    • Death Benefit guarantee – death benefit never decreases
  • 9. Policy Characteristics – Final Expense
    • Guaranteed cash values – policy builds cash value that may be borrowed against
    • Guaranteed non-cancelable – policy will never be cancelled as long as application questions are answered accurately and premium payments are current
  • 10. Why Choose EMCC Benefits?
    • Established company with over 30 years experience in the insurance industry
    • Knowledgeable and friendly insurance representatives and staff members
    • Appointed with carriers who will provide the best rating possible for our clients
    • Client value driven by building and maintaining relationships with clients
  • 11. Contact Information
    • For your insurance needs, questions or to set an appointment, please contact your dedicated EMCC Benefit insurance representative Phaedra Saunders at (678) 923-0882.