Life Insurance

Create a Lifeline that will Last a Lifetime

We know you can’t put a dollar amount on your family, but you can insure their future is protected. And though costs are a real concern for most people considering life insurance, it never costs as much as you think—especially if your family ever has to use it.

What Is Life Insurance?

Life insurance is considered as a contract between an insurer and a policyholder. A life insurance policy guarantees that your insurance company will pay a sum of money to the named beneficiaries when the insured policyholder dies in exchange for the premiums paid by the policyholder during their lifetime.

Key points:

  • Life insurance is considered a legally binding contract.
  • In order for the contract to be enforceable, your life insurance application must accurately disclose your past and current health conditions and high-risk activities
  • The policyholder must also pay a single premium upfront or you may choose to pay regular premiums over time in order for your life insurance policy to remain in force.
  • The policy’s named beneficiaries will receive the policy’s face value or death benefit when the insured person dies.
  • It is important to note that term life insurance policies expire after a certain number of years. However, permanent life insurance policies remain active until the insured dies, stops paying premiums, or surrenders the policy.
  • State guaranty funds may pay claims if the issuer can’t since a life insurance policy is only as good as the financial strength of the company that issues it.

It happens more often than you think…

After running multiple tests, doctors conclude you have an incurable medical condition that may affect the length of life you have remaining.

A million thoughts race through your head. You’re unsure what to do or who to call. Your first priority is your family and who will look after their well-being when you’re gone. Will you might be asking yourself:

  • How will your spouse stay afloat with all the debt accrued?
  • Who will save for your children’s college fund?
  • Where will your family be without you?

Or will you be thinking instead of how you will choose to spend whatever time you have left with them—secure in the fact you have a precisely calculated policy to cover your debt, funeral costs, and a legacy to your family?

There’s no way we can convince you the peace of mind you can experience just knowing your family will be cared for if they lose you.

Recognizing everyone’s situation is unique, which means there are two types of life insurance policies to choose from:

  1. Term life policies are set up to cover you for a specific period of time. The most common term policies cover for fifteen to twenty years. Depending on the age of insured, premiums start out dirt cheap and increase in costs with your age. Some Term life policies even offer the option to convert to a whole life policy when the policy is set to expire.
  2. Whole life or Universal life insurance covers the insured for the course of their life, even if you live to be 100 years old! An advantage of a universal life policy is that the policy builds cash value that you may borrow against in times of need.

No matter the situation, it is important to know what type of policy best suits your needs, the amount of coverage desired, and most importantly, who the beneficiary will be.

One of the helpful agents at our firm can help you learn more about purchasing a life insurance policy. Having peace of mind knowing that when you leave this world your family won’t be burdened with your financial hardships and that they will be able to maintain their current standard of living.

Who Should Buy Life Insurance?

Life insurance offers financial support to surviving dependents or other beneficiaries when an insured person passes away.

Here are some examples of people who may need life insurance:

  • Parents with minor children – Once a parent dies, the loss of their income or caregiving skills can lead to financial hardship. Life insurance can make sure their kids will have the financial resources they need until they can support themselves.
  • Parents with special needs adult children – Life insurance can make sure children with special needs will still get lifelong care after their parents pass away. The death benefit can be used to create a special needs trust for them that a fiduciary will manage.
  • Adults who own property together – Adults who are married or not, if the death of one partner would mean the other party could no longer afford loan payments, upkeep, and taxes on the property, life insurance is a must. One example is when an engaged couple took out a joint mortgage to purchase their very first house.
  • Elderly parents who want to leave money to adult children who provide their care – A lot of adult children sacrifice their time to care for an elderly parent who needs help. This kind of help may also offer you direct financial support. This insurance can help reimburse the adult child’s expenses when the parent passes away.
  • Young adults whose parents incurred private student loan debt or cosigned a loan for them – Life insurance may be helpful for young adults who carry debt. Their insurance can pay off the debt.
  • Young adults who want to lock in low rates – Younger and healthier adults have lower insurance premiums. If you expect to have children someday, then having life insurance is a must.
  • Wealthy families who expect to owe estate taxes – If you avail of life insurance, this can provide funds to cover the taxes and keep the full value of the estate intact.
  • Families who can’t afford burial and funeral expenses – Life insurance can provide funds to honor a loved one’s passing.
  • Businesses with key employees – Life insurance can be purchased for a key employee such as a CEO since this can create severe financial hardship for a company.
  • Married pensioners – Pensioners can choose to get their full pension and use some of the money to purchase life insurance to benefit their spouse instead of choosing between a pension payout that offers a spousal benefit. This is called pension maximization.

Why We’re Different

You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…

While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.

There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

We’re your neighbors. We protect businesses and people we know and care about, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.

Contact us and let the professionals at our company help you forge the strongest shield possible to help you protect the things you are working hard to build.

(720) 221-8168

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Address: 4380 South Syracuse St. Suite 310 Denver, CO 80237
Email: info@teamais.net
Main Line: (720) 221-8168
Toll-Free: (877) 658-2472
Fax: (720) 221-6787
New Customer Lines: (855) 973-1202
(855) 712-6584

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