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Term Life Insurance
- Could your family survive without your income?
- If you died tomorrow, how would your family pay your health insurance premiums? Under federal law (COBRA) you may be able to continue your health insurance for up to 36 months.
- Could your survivors stay in the family home or would they be forced to relocate? What if real estate prices dropped and there were no buyers?
- What if your spouse died? Who would take care of the children while you were at work?
These are real life issues. At Bonniwell Financial we have the solutions. Please call us for a free no obligation consultation.
As the name implies, term life insurance is purchased for a term of years. Coverage can offer a level amount of protection with an annually increasing premium.
Term life protection can also be purchased with a level premium for a term of years. Options for this can be a 5, 10, 15, 20, or 30 year level premium or even level for lifetime. The more years you guarantee the premium, the higher the premium.
This protection is guaranteed to insure you for your lifetime. Some policies are called whole life or ordinary life. Some variations of this are Universal Life, Variable Universal Life or Single Premium Life Insurance.
Second-to-Die ProtectionThis is a permanent form of life insurance that insures both husband and wife together, but pays benefits on the second person to die. This type of protection is typically purchased in a "trust" and is used to cover estate or transfer taxes. Premiums are typically funded with annual gifts to children and/or grandchildren.
The premiums vary by age, smoking status, and, of course, any pre-existing medical conditions.
For an analysis of your insurance needs and a free quote, please contact our office.
Kent A. Baumann, CLU
Chartered Financial Consultant
President, Bonniwell Financial Services
1025 W. Glen Oaks Lane Suite 205
P.O. Box 38
Mequon, WI 53092
Phone: 262.241.8488 | Fax: 262.241.8066
kentbaumann@yahoo.com