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Synergy Insurance Group is also an Independent Brokerage firm that is licensed with over 20 of the top Life Insurance Companies in PA and OH including Gerber Life, TransAmerica, Mutual of Omaha, Met Life, Nationwide, Forresters, Royal Neighbors, and Liberty Bankers just to name a few. Since we are licensed with so many companies that means we can Guarantee you approval no matter what your health conditions may be! And when you work with us to find a life insurance policy we will scan the entire marketplace for you and find you the best policy with the best rates, Guaranteed!
Many Financial Experts Consider Life insurance as the cornerstone for sound financial planning. My favorite example of how life insurance is such an important investment is the wealth accumulation pyramid to the left. A smart investor must lay the foundation and protect themselves and their assets before they can start investing in things that will help their wealth grow. Our goal at Synergy Insurance Group is to help our clients lay that strong foundation. Here are some of the more common ways our clients use Life Insurance….
If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially. Insurance to replace your income can be especially useful if the government- or employer-sponsored benefits of your surviving spouse or domestic partner will be reduced after your death.
Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred and sometimes Tax Exempt depending on the policy and the type of loan taken out (and always tax exempt if the money is paid as a death claim).
Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance. With the rising costs of funerals in today’s age alot of clients that are 50 and older can purchase a smaller whole life policy for $10-25k as the death benefit for a very reasonable cost, usually less than $50 a month! These policies are set up to pay out quickly, most of the time within 24 hours, so your family is not stuck with paying the expensive cost of your funeral. These are the most popular life insurance policies on the market today.
Depending on your net worth when you pass away, your estate taxes could be as high as 30-40%. If you die and you still have funds in your retirement, those funds could be taxed up to 60%! However Life Insurance proceeds are always TAX FREE so we show our clients how investing a life insurance policy can save your heirs thousands and thousands of dollars in estate taxes!
Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.
By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.
We are proud to have a partnership with Deborah Inskipt of Health Markets, one of leading Brokers of Health Insurance in the country! Deb has personally helped with my own health insurance ans was able to find me a great policy at a great rate and I guarantee she will do the same for you.
DEBORAH INSKIPT
C: (724) 777-4152
dinskipt@healthmarkets.com
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