Products
Lifeley Insurance specializes in offering life insurance products that help families protect their most valuable assets - themselves and their loved ones.
What You Get:
Term Life Insurance
Term life insurance is a policy that has a defined lifespan (1-30 years). The policy expires at the end of that lifespan if the insured person is still alive, meaning the death benefit is lost. However, term life insurance usually offers lower premiums and a higher death benefit than whole life insurance.
Mortgage Protection
Mortgage protection is another form of permanent life insurance that pays the mortgage lender in the event the insured passes away or is disabled and can no longer afford their mortgage. It pays only the outstanding value of the mortgage with no additional payout to loved ones. However, the home would be paid off, leaving that asset to the insured's loved ones.
Whole Life Insurance
This type of permanent life insurance is sometimes referred to as traditional life insurance. It provides a level death benefit and never expires so long as the premiums are paid. Whole life insurance also provides a cash value, or "living benefit," over time that the insured can access while they are still alive.
Final Expense
This insurance product usually offers enough death benefit to cover funeral expenses such as burial or cremation, flowers, a funeral ceremony, etc. These policies are designed to provide a relatively small amount of coverage at an affordable cost. It is a form of permanent life insurance, which means that as long as the premiums are paid the insured will be covered.
ANNUITIES
Annuities are policies that produce steady income streams at a future date. The buyer (or "annuitant") pays premiums to an insurance company for a certain amount of time, and the money is invested. Then at some defined point in the future, the insurance company starts sending regular payments back to the buyer, which creates an income stream for the annuitant. Annuities are usually used for retirement income, and can pay the annuitant for the remainder of their life.