Life Insurance

Life insurance is an excellent way to obtain financial security for not only yourself, but all of your loved ones as well. It offers protection through assisting you in your attempt to replace the income lost when a death occurs. Based on the policy, some life insurance plans have the capability to build cash value in order to be used in difficult times.

The Heritage Wise Group certainly understands how important it is to possess life insurance. That’s why we’re here to offer our assistance to you in your quest to secure a life insurance policy that fits all of your needs. It doesn’t matter if you’re in Saginaw, Midland or Bay City, the Heritage Wise Group is the premier company to go to for your life insurance needs in Michigan.

Among the most common forms of life insurance is “Term Life Insurance”. This option is known to be cost-effective, plus it typically provides insurance for a limited amount of time (usually 10-20 years). Many policies with this selection come with an option to convert to permanent status. Converting with this form of life insurance is made simple by the Heritage Wise Group, and it permits the policyholder to take advantage of several other types of life insurance policies to increase protection.

Though it is mostly temporary, term life insurance supplies protection in order for debts, fees, costs and mortgage obligations to be met. The death benefit is guaranteed for the complete duration of the policy, so as long as premiums are indeed kept up.

Another life insurance option is “Whole Life Insurance”, which protects someone on more of a permanent basis than term life insurance, and comes with an increase in its premiums. Under this option, policies can accrue cash value to be utilized while a person is alive to achieve financial obligations, including emergencies and toward education costs. A majority of those who opt for whole life insurance qualify for dividends, plus receive a guarantee their coverage amount will never change.

Sometimes known as “VUL”, variable universal life insurance is a form of life insurance that allows a person to select the amount and rate of frequency of payments that are made toward premiums, so long they’re in limits that are specified.

Additionally, payments for premiums may alter as long as there is sufficient value in an account. VUL is not only ideal for protection, but also for investment options. These options, combined with the premium a person chooses to pay, affect the value of an account. Coverage is provided on a permanent basis, and a death benefit can be applied to the replacement of lost income.

The “Universal Life Insurance” is another life insurance option. It offers permanent coverage and flexibility, plus protection for families in the event of a death. A policy can be chosen featuring a variety of premiums, with the main requirement being the account holds sufficient value. A guaranteed death benefit option can also be selected to provide financial security to those closest to you. Universal life policies are capable of accumulating value depending on the premium selected, plus it is permissible to borrow from this policy.

Call the Heritage Wise Group today at (989) 781-3010 to begin securing the right life insurance policy for you and your loved ones!