Life Insurance


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Why Consider Term Life?

Why Consider Whole Life?

Why Consider Universal Life?

Why Consider Indexed Universal Life?

Why Consider Survivorship Life Insurance?


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A Few Benefits of a Properly Designed Life Insurance Policy

  • Peace of mind through financial security
  • Regular savings by the calendar
  • Continuing income for your family
  • Expert investment of your savings
  • Income during retirement years
  • Cash for emergencies and/or opportunities
  • Income option arrangements for limited years or for life
  • Cancellation of home mortgage
  • Assurance of children's education
  • Immediate estate creation at death
  • Funding source for business continuation when business owner dies
  • Funding source to buy-out business partner's interest from surviving heirs at death
  • Protection for the whole family
  • Simplifying Life Insurance

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What you may experience from application to receipt of your policy.

  • After you've submitted your application, which may have been submitted electronically or in paper form with your insurance advisor, you may receive a call from the insurance company for a telephone interview.
  • You may receive a telephone call from a nurse who will schedule an appointment with you to come out and perform a medical exam.
  • Your doctor's office may be contacted and medical records may be requested.
  • Once the life insurance company you've selected has collected all requested information, including as referenced above, the insurance company will either make an offer to issue a policy to you or decline to insure you or delay insuring you with conditions.
  • Assuming that you received and accepted the insurance company's offer,
  • Your policy will be delivered to you by your agent, or electronically if you selected electronic delivery.  You will make your first premium payment at that time if you did not do this at the time of application.
  • You will meet with your insurance advisor on the one-year anniversary of your policy.

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Life Insurance Terms

Beneficiary:

Primary - an individual or organization who is first in line to receive the benefits.  There can be more than one primary beneficiary as long as the total distributions equal 100%.

Contingent - the contingent beneficiary receives the benefits if the primary beneficiary is deceased, unable to be located or refuses to receive the inheritance at the time of distribution.

Mode:

the frequency in which you will make your premium payments.  Typically the options are monthly, quarterly, semi-annual or annual.

Premium:

an amount to be paid for an insurane policy


Forms:

Life Insurance Waiver


Neither Efficient Estates, Inc. nor its representatives offer legal or tax advice. Any tax compliance tests applied and any tax-related statements made in any verbal or written presentations were based upon current assumptions only, and represent only one interpretation of current Federal Tax Law as it relates to life insurance and annuities. Moreover, the tax treatment of life insurance and annuities is subject to change. We suggest you consult your legal or tax advisor before making any tax-related decisions.