PERMANENT LIFE POLICIES

Permanent life policies cover you up to 100 years old or older. They have cash value although certain ones pay the cash value on top of the death benefit and certain ones pay the death benefit only. These policies vare from final expense to whole life to Guaranteed Universal Life, to Universal Life, to Indexed Universal Life. Some of these policies if structured right can be a great retirement vehicle.

Final Expense policies range from around $3,000 to $100,000 and are meant to really cover your final expenses from funeral/burial/cremation cost to any remaining bills after death. These policies can also have living benefits.

Whole life policies are a form of permanent life policy. These policies usually earn about 4% interest, but the cash value is kept by the insurance company, only the death benefit is paid to the beneficiary. Not really a great retirement vehicle. These policies can also have living benefits.

Universal Life is a policy that is permanent and earns a little bit more interest than whole life, usually around 4.5-6%. These are the start of the good retirement vehicles although with this policy it can be said to be questionable as to whether it is or not. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Guaranteed Universal Life Is the next Permanent life and it earns about 6% interest and can be an okay retirement policy. This policy pays the death benefit and the cash value to the beneficiary. These policies can also have living benefits.

Variable Universal Life is the next. This kind of Life policy is loaded in fees and has at least a portion of the premium invested in mutual funds/stock market. Because of this these policies if not watched closely and carefully can lapse to a declining market. They also in a positive market have the best growth potential. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

Indexed Universal Life policies when structured right will give you a share in the up-side of the stock market without the downside. These can earn between 0%-13% in interest on average although it can usually is about 6% on average. These are the best retirement vehicles out there besides annuities especially when structured right. They pay both the cash value and the death benefit to the beneficiary. These policies can also have living benefits.

Life Insurance Policies

Key Employee Life Policy
A group term policy placed on one or more employees that helps cover the company for the losses incurred while that employee is not working.
Whole Life Policy
A permanent Life policy that can range from $3,000 up.
Universal Life Policy
These are great retirement vehicles. The money you put in is after tax dollars, because of them being life policies as long as your beneficiary collects the death benefit or you take a loan, then you do not get taxed.
Annuity
Annuities are structured according to how you pay in, which can be a large lump sum of $100,000 or more, to making monthly payments, to also how they are invested aka an Indexed which gives you all the ups of the stock market but none of the downs if structured right.
Ken's Insurance Agency specializes in all types of insurance!

Business Hours:  Sunday - Saturday 9:00am - 10:00pm

Locations:

4210 Highway 51 South
Hernando, MS.  38632

Call

Office: 662-912-3914

Mobile: 662-292-6271
Fax:  662-689-9869

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