Having the right life insurance is crucial to planning well for your future and the future of your loved ones. Having a quality life insurance policy will let you keep taking good care of your family after you are gone.
Don’t abandon the future of your loved ones to chance. The Fite Agency will help you find the life insurance coverage that is right for you, and will help ensure that your policy continually meets your needs as your life adjusts over time.
Life changes – your policy should as well.
Each resident of Rowlett needs a life insurance policy that is unique to their personal and financial needs. As your life changes due to certain events like a marriage, a new child or business, your life insurance coverage will likely need to change as well.
At the Fite Agency, we can help you if you experience a life change that requires a policy “tune-up.” Have you recently undergone any of these changes?
– You recently married or divorced
– You have opened or expanded a business
– Your health or your spouse’s health has declined
– You are providing financial assistance or caring for a parent
– You have a new child or grandchild
– Your child or grandchild requires assistance or long-term care
– Your health or your spouse’s health has deteriorated
– You are planning for a child or grandchild’s education
– You have refinanced your home mortgage in the past six months
– You or your spouse recently received an inheritance
– You recently purchased a new home
– You are concerned about retirement income
– You have a large estate
You don’t have to worry that these events will negatively affect your coverage. We can help you select insurance that will completely meet your needs. Various types of life insurance products are available.
The most common include:
Term Life Insurance
Term life insurance provides protection for a specified period of time, and is available in varying time periods with fixed premiums from a one year (with an annual renewable term) to 20-year (level term) period. If you do not currently have life insurance, term can be a good place to start as it’s generally less expensive than permanent (whole) life insurance. Term life insurance is sometimes convertible to permanent life insurance, providing you with flexibility as your needs change and new life events take place.
Whole Life Insurance
Whole life insurance is a form of permanent life insurance, and will remain in force for your entire lifetime, provided that the insurance premiums are paid as specified in the policy. Many whole life insurance policies can build cash value over time, providing investment opportunities for policyholders.
Universal Life Insurance
Universal life insurance is a type of permanent life insurance, and is characterized by its flexible premiums and unbundled pricing structure. Universal life insurance policies can build cash value, and feature interest rates that are usually guaranteed not to fall below a certain percentage.
What type of life insurance will work best for you? Talk with the team at The Fite Agency at 972‐564‐676, and we will be happy to help you find the life insurance policy you need.
What are the advantages of having life insurance?
Life insurance will provide valuable assurance and financial stability for your family after you are gone. In addition to this security, many life insurance policies offer other benefits and investment opportunities that you can take advantage of while you are living.
Advantages of Death Benefits: After you pass away, your life insurance policy will provide income tax-free money to the named beneficiary or beneficiaries on your policy. This money can be used to pay funeral expenses, estate taxes, debt, tuition or any other financial needs. Your life insurance policy can also help provide security for your business as well by enabling partners to prevent forced liquidation and buy out the interests of a deceased partner.
Advantages of Living Benefits: Any cash value growth on a permanent (whole) life insurance policy is tax-deferred. This means that you do not have to pay taxes on the growth, unless money is withdrawn. In addition, withdrawals or loans can be taken against the cash value of a permanent life insurance policy to help with any expenses such as the down payment on a home or college tuition.
Each resident of Rowlett is unique, and so are their life insurance coverage needs. Talk with the Fite Agency team today to find out how you can protect your family and your future with the best life insurance policy for you.
