At the Fite Agency, we understand that having the right life insurance coverage is crucial in planning well for the future of you and your loved ones. Life insurance will help you take care of your family even after you are gone, and will give you the peace of mind that they will be financially provided for.
You don’t have to leave your loved ones’ future to chance. The Fite Agency will help you not only find the best life insurance coverage, but will help ensure that your policy will continually meet your needs.
Life changes – so should your life insurance policy.
For each of our neighbors in Cedar Hill, the right life insurance policy will be unique and dependent on the individual’s financial and personal needs. As your life experiences major changes, your life insurance coverage may need to adapt in order to fit your current needs.
Some life events that may require a policy “tune-up” and our help at The Fite Agency include:
– You recently bought a new home
– You refinanced your home mortgage sometime in the past 6 months
– You have opened or expanded a business
– You recently got married or divorced
– You have a new child or grandchild
– Your child or grandchild needs assistance or long-term care
– You are planning for your child or grandchild’s education
– Your health or your spouse’s health has declined
– You are providing financial assistance or caring for a parent
– You are worried about retirement income
– You have an extensive estate
– You or your spouse recently received an inheritance
If your life has experienced one or more of the above changes, the Fite Agency can help you select the best life insurance coverage for your current needs. Several different types of life insurance products are available, the most common including:
Term Life Insurance
Term life insurance offers protection for a certain period of time, and is available in a range of time periods with fixed premiums from a 1 year (annual renewable term) to 20-year (level term) period. Term can be a good place to start if you do not currently have life insurance, as it’s generally less expensive than permanent (whole) life insurance. Furthermore, term life insurance can sometimes be converted to permanent life insurance, providing you with coverage flexibility as your needs change.
Whole Life Insurance
Whole life insurance remains effective for your entire lifetime — provided that premiums are paid as specified in the policy — and is a form of permanent life insurance. This type of insurance can be an investment vehicle, as many whole life insurance policies can also build significant cash value over time.
Universal Life Insurance
Universal life insurance is characterized by its face amounts, flexible premiums and unbundled pricing structure, and is a form of permanent life insurance. Universal life insurance policies can also build cash value over time, and earn an interest rate that may adjust from time to time but is typically guaranteed not to fall below a certain percentage.
So, which life insurance option is best for you? Talk with one of our team members at The Fite Agency today: 469-575-6289, and we will help you find the best protection.
What are the advantages of life insurance?
Life insurance is essential to planning for your present and your future. Not only can life insurance offer benefits and investment opportunities you can take advantage of while you are living, but it will provide vital assurance to your family after you are gone.
Advantages of the life insurance death benefit: When you pass away, your life insurance policy will provide your named beneficiary or beneficiaries with income tax-free money that can be used in a variety of ways including to pay funeral expenses, estate taxes, debt, tuition or virtually any other financial need. Your policy will provide security for your business as well by enabling business partners to buy out the interests of a deceased partner and prevent forced liquidation.
Advantages of Living Benefits: Any cash value growth on a permanent (or whole) life insurance policy is completely tax-deferred, meaning that you do not have to pay any taxes on the growth of cash value, unless money is withdrawn. Withdrawals or loans may be taken against the cash value of a permanent life insurance policy in order to help with expenses such as the down payment on a home or college tuition.
The ideal life insurance coverage for every one of our neighbors in Cedar Hill is unique. Talk with the Fite Agency team today to find out how you can protect your family and your future with the right life insurance policy.