As an independent financial advisor, I am able to find the best insurance company for your needs.
The insurance companies work for me so that I can work for you, not the other way around.
There are thousands of life insurance products on the market today, so how do you know which one you and your family need? It is my job to make sure you and your family have the best product for your specific needs. I have written some key information about the different types of life insurance to help you understand a little more about how they work and which one may benefit your family the most.
There are two types of life insurance policies: term and permanent. Each type has its own strengths and weaknesses. For example, term life insurance is much more affordable but only lasts for a set amount of time (for example: 10, 20, or 30 years). Whole life and Universal life insurance have much higher premiums than term but allow for tax deferred growth that you can use on expenses such as college, a new car, or even a down payment for a house. But you will be paying a “premium” for those permanent life insurance policies because they do last your entire life.
Life Insurance Companies
| Company | A.M. Best Rating | Year Founded | Best for |
|---|---|---|---|
| Protective Life | A+ | 1907 | Highly competitive pricing–usually the most affordable or one of the most affordable; Income Provider Option: Allows for death benefit to be paid out in smaller increments (can be used to reduce the premium up to 30%!) |
| AIG | Borderline overweight/one the edge of a preferred best/preferred rating–will give better rating because of looser policy standards; Great carrier for higher risk applicants like those looking for diabetic life insurance | ||
| Allianz | |||
| Gerber Life Insurance Company | Children whole life insurance policies | ||
| John Hancock | |||
| Banner (Legal & General) | Greater for higher risk applicants with type 1 and type 2 diabetes; renewable and convertible terms to age 95; excellent pricing on table ratings (high risk clients) Accelerated Death Benefit rider free of charge | ||
| Brighthouse Financial | Lenient with marijuana use | ||
| Foresters | |||
| Lincoln Financial Group | |||
| Mutual of Omaha | Fit Underwriting Credit Program: benefits clients who would normally be rated below standard; Offers 14 lifestyle and health credits; if a client possesses characteristics identified as three or more of the credits then the client will be eligible for a better rate class up to 2 table ratings | ||
| North American Company | Great pricing for specific age brackets; Cholesterol levels up to 300 may qualify for the best rate class; Blood pressure treatment may still qualify for the best rate class | ||
| Prudential | Allows users of smokeless tobacco to be rated as non-smokers; Travel locales; Cancer survivors; DUIs; Diabetes | ||
| Sagicor | |||
| SBLI | Guaranteed level premium term requires no paramedical exam; Great premiums when paid annually | ||
| TRANSAMERICA | Excellent life insurance for seniors; Great living benefits life insurance options |
These are just some of the companies that I can use to find the best product at the best price for you and your family.
Term Life Insurance
What is term life insurance?
Term life insurance is as simple as it comes: you pay a premium for a set death benefit for a set amount of years. Most term life insurance has a level premium which means you would pay X amount for the length of your term; it would not go up or down. However, some policies appear to have a level premium but actually begin to go up after the first five years of the policy. After those five years they become an annual renewable premium which goes up every year based on the information in your policy. When shopping for a term policy, it is essential that you make sure you are purchasing a level premium term policy. In the basic illustration of your life insurance policy, there will be two scheduled premiums: guaranteed and non-guaranteed. If the guaranteed and non-guaranteed premiums do not stay the same for the entire policy period (term), then you do not have a guaranteed term life insurance policy.
Who is term life insurance for?
Term life insurance is for any one who wants to make sure their family is protected in the event something happens to them prematurely. It is the more affordable of the two kinds of policies; therefore, you can buy more insurance for less premium. Typically, term is the best option when you want to provide for a loss of income in your family. The death benefit is tax free, and you are free to use it how you need. See here for an illustration on how you can make your life insurance proceeds last.
How can I get a term life insurance policy?
See here to get a term life insurance quote.
Send me an email with your information to steve@stjadvising.com. Please include as much detail as possible but, at the least, I will need your date of birth, gender, if you use nicotine or tobacco and what kind (cigarettes, chewing tobacco, dip, e-cigarettes, nicotine gum, or some other form), how much insurance you want, and the length of the term you want. Other information to include is your height, weight, and any medications you are taking. All information is strictly confidential.
Check the background of your financial professional on FINRA’s BrokerCheck.
Check the background of your financial professional on FINRA’s BrokerCheck.
Securities offered through Concourse Financial Group Securities, Inc. (CFGS), Member FINRA/SIPC. Advisory services offered through Concourse Financial Group Advisors, a DBA for CFGS, a Registered Investment Advisor. Steve Tucker, Jr. and STJ Advising is independent of CFGS.
Securities offered through Concourse Financial Group Securities, Inc. (CFGS), Member FINRA/SIPC. Steve Tucker, Jr. and ST is independent of CFGS.
S.T.J. Advising 