We can’t tell you the future.. we can only tell you how to prepare for it
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Let’s face it – planning for the distant future is not exactly at the top of your to-do list in today’s busy world. It’s important, however, to remember to take the time to update your life insurance plan, prepare for your long-term care needs, and create a personal family safety net. At Haylor, Freyer & Coon, we make it easy to design a life insurance program or long-term care policy that reflects your personal goals and objectives for the financial security of those you love, and prepares for the unpredictability of tomorrow.
So talk to us about planning for tomorrow – then get out there and make the most of today. Get your life insurance now!
Benefits Of Having A Life Insurance Policy May Include:
Replace Lost Income – Provides your family with steady income in the event of your passing.
Cover Living Expenses – Helps cover essential living expenses such as groceries, cleaning supplies, etc.
Pay Child’s Education – Can pay for private schooling and college expenses.
Supplement Retirement Savings – Generate tax-deffered cash flow for your retirement.
Collateral for Loan – Borrow against the value of your policy for a personal or business loan.
Protect Business – Helps keep a business afloat while adjusting without you.
Additional Money in Case of a Chronic/Terminal Illness – If you develop a chronic or terminal illness, life insurance money may be able to be withdrawn to pay for medical expenses.
Leave A Legacy – Leave a considerable donation amount to the causes that were important to you.
Reduce Estate & Inheritance Taxes – Life insurance to the beneficiary is not taxed.
Increase Death Benefits – Some life policies allow you to trade the cash value accumulation for increased death benefits.
A Life Insurance Policy May Not Pay If:
Suicide – If an insured individual commits suicide within a designated timeframe(most states are a two year period), the insurance company may not pay the claim.
Smoking – Smokers are at a higher risk of premature death, and if a smoking habit (past & present) are not disclosed, insurance can claim that it contributed to your death.
High Risk Activity – Certain policies prohibit high-risk activities or hobbies. It is best to be honest about your lifestyle to avoid a denial of claim.
Illegal Activity – Your insurance company can refuse to make a payment if you were breaking a law when you perished.
Insurance Fraud – If you lied on your application and the information was found to be false, the misrepresentation of yourself may cause a denial of a claim payment.
Important Note: Everything listed on this page is meant as general information and the generalized policy descriptions are designed to help you understand the different coverage types. These guidelines and descriptions do not refer to any specific contract of insurance, carrier, or terms of service. They do not modify any definitions, exclusions, or any other provisions that are directly stated in any contract of insurance. We highly recommend that you speak with your insurance advisor and review your policy fully to understand your coverage.
Life Insurance – Frequently Asked Questions
When should I get life insurance?
Today – the longer you wait, the more you age – the more expensive your policy becomes.
What type of policy should I get?
Everyone is different – you or your advisor will need to shop around for the coverage that best suits you.
Are life insurance proceeds taxed?
Generally, when a beneficiary receives a death benefit, the proceeds are not taxed.
Is a medical exam required to get a life insurance policy?
Some insurance companies do require a physical exam and some don’t, however, all life insurance underwriting is typically extensive to determine your previous and current state of health.
The matrices of local, state, and federal laws that govern auto insurance and the variation between policy types and insurance carriers are far too complex to list every situational exclusion that is applicable for all. Below are some common examples of coverage points/clauses that may detail these exclusions in the policy and should be carefully noted when purchasing coverage. We strongly advise consulting with a licensed insurance agent to review your policy and discuss any situation where your claim may fall into exclusion and be denied.
Some private student loans will fall onto a cosigner or closest family memeber if the borrowing student dies.
*Not applicable to all insurers and policies. Please click on the ? icon above for more information.
Find out how you can benefit from Haylor’s wide range of insurance products and risk management solutions today! Call or contact us to schedule a complimentary review of your current insurance portfolio!