What is Life Insurance?
Life Insurance is a sum payment either on the death of the insured person, or after a set period. There are many types of life insurance and solutions that Pinnacle Financial Services makes available for their partner agents and agencies.
Simplified Issued Whole life insurance. Geared toward the 65 and older market place with smaller face amounts typically $5,000 to $25,000. These types of policies are not fully underwritten but rather quick issue with no parameds or aps’. True guarantee issue plans are available.
Single Premium Final Expense
Simplified Issue permanent life insurance available to clients up to age 85. Clients with a lump sum as low as $5,000 can pay up a life insurance plan to help pay for burial expense and pass on wealth tax free. Geared towards the 60 and over market due to its simplified issue underwriting. No parameds or aps’ required.
Permanent life insurance with cash growth. Typically not as flexible as Universal Life insurance. Premiums must be paid for designated time frame at issue which can be lifetime, 10 pay, 20 pay, to age 65 pay.
Flexible premium life insurance that can be structured to meet the goals and budgets of clients. Cash value is an option with Universal Life. Premium payments can be structured from one year to lifetime.
Indexed Universal Life
Similar in nature to traditional Universal Life Insurance. The biggest difference is how cash growth is accumulated. Instead of a stated interest rate cash grows based on the performance of a market index such as the S&P 500.
Covers the client for a term typically 10 to 30 years. It does not build up any cash value. It is typically sold as cheap death benefit needed for a specific period of time.
Life Insurance with Long-Term Care & Chronic/Critical Illness Waivers
Change the way you and your clients think about life insurance. Life Insurance for the living gives clients flexibility and cash when needed most during times of illness.