Life Insurance

At Breedlove Insurance, we’ll help you determine not just the appropriate amount of coverage but what type of life insurance is right for you, right now.

One of the questions we are often asked is "How much life insurance do I need?" The client can get a quick answer by opening, printing, and completing this form. For a more complete analysis, as a service to our clients, we provide a sophisticated, no-cost asset needs analysis. This will require we get together for one or more meetings. If you're interested, give us a call.

Because your life insurance needs will change as your life changes, we contact our life insurance clients regularly to review their coverage. You may need to review your life insurance coverage if you have have changes if any of the following apply:

There have been changes to your marital status
There have been changes to the number and ages of your children
You have added other dependents, such as aging parents who depend on you for support
It is time to plan for preserving your estate and protecting it from "death" taxes
You have assets tied up in a business, real estate or other non-liquid investments.
You have formed a business partnership.

Types of Benefits

Insurance plans provide cash either to your beneficiaries after your death or to you during your lifetime.

While you are living, life insurance can assist you financially:

The policy's cash value growth is tax-deferred; if structured properly you may withdraw cash without having to pay taxes on the money withdrawn. This money can be used for any use whatsoever, for example, to help with personal expenses, such as buying a home, sending your children to college, or funding your retirement.

After your death, the benefits from your policy go to your named beneficiaries without federal income taxes:

Your family or loved ones can use this money to pay funeral expenses, debt, tuition, estate taxes or any other financial need they have, after you are gone.
Your business partners can use the money to buy out your interest in the company and prevent a forced liquidation.

Types of Life Insurance

We’ll help you understand the often-puzzling differences of life insurance products. For most families, we recommend a combination of a term insurance policy with a universal life insurance policy:

Term Life Insurance provides insurance protection for a specified period of time—usually 10, 20 or 30 year periods.

Universal Life Insurance is the most popular type of permanent life insurance, offering flexible premiums and flexible face amounts. Universal life insurance builds cash value. Consider one of the newer Equity Indexed policies.