Life & Health Insurance

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Life & Health Insurance Information

Life Insurance – New Jersey, New York

Understanding the Life Insurance market can be confusing and determining the right policy for you and your family based on your financial goals is a huge decision that should not be taken lightly.  Whatever your goals are — from tax-free income in retirement to tax-free income for your beneficiaries, income replacement for a premature and untimely death or leaving a sizable charitable contribution —  we can assist in pairing you with the right carrier.  Our advisors have adopted a needs-based approach to learning about your family’s concerns and developing affordable solutions to address your needs.

Individual Life Insurance Can Be Used For:

  1. A Living Benefit – If your policy is not paid out due to your passing, some types of life insurance can have a cash value that can be accessed when necessary.
  2. Final Expenses – Basic coverage for your celebration of life and burial needs.
  3. Income Replacement – a life policy can provide much needed income for your dependents in the event of your passing. Many times, this is used for children but can also be used for a partner that has a loss of income.
  4. Inheritance – You can use a life insurance policy as an inheritance even if you do not have substantial assets to pass on to your beneficiaries.
  5. Tax Payments
  6. Making a Charitable Contribution
  7. Retirement – tax- free Income based on the living benefit of your plan
  8. Legacy Planning – building generational wealth

Life Insurance West Orange New Jersey

Generally, age and health are the most important factors in the premium you will pay. Although you can purchase a policy at any age, the younger you are, the more affordable the policies will be.

All life insurance policies are designed to pay a benefit when someone dies. The two most common types of life insurance are Term and Whole (or Permanent) policies.

Term Insurance is usually the most affordable type of coverage. The term of the policy usually lasts between 1 and 30 years and pays only if a death occurs during the policy term. Most term policies have no other benefit provisions. Term policies can be level term which means the death benefit will remain the same throughout the duration of the policy, or they can be decreasing term which mean the death benefit drops over the course of the policy’s term. When the policy term ends, you may or may not qualify for new coverage based on your health, and based on your age, the cost of the premium may be too high to be affordable.

The advantage of Whole or Permanent Insurance is the death benefit and premium will usually remain the same during the duration of the policy. These policies can also build cash value which may be withdrawn or loaned like a savings account. The 3 types of New Jersey & New York whole life insurances are traditional whole life, universal life, and variable universal life, and there are variations within each type.

Our agents at The ASE Insurance Agency, LLC can guide you through the different types of life insurance policies offered in New Jersey & New York.



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