Life Insurance

Portrait Of Three Generation Family On Beach Holiday

But I can’t afford life insurance….

We encourage policyholders to establish a well rounded portfolio to provide for final expenses, pay off debts, income replacement and child care expenses (when children are present) as well as ensuring retirement funds. A plan for life insurance and family security doesn’t just happen. It is the result of thought, analyzing your own personal needs, mapping out a plan and then beginning to take small steps to reach the goals you have set for your family. Losing a loved one is very difficult. To have to deal with the possibility of losing your home, child’s college education plans, or the uncertainty of tomorrow, is unthinkable, yet it is UNAVOIDABLE.

A can of pop a day…..$ 1.00
A snack a day……….$ 1.50
Total a month(30days) $75.00

If you were to spend that much a month, a male age 35 could afford a $500,000 Life Insurance policy or MORE! For a female, $700,000! If you do not need that much protection, your cost is less.

What are you worth to your family? What would they do if something unforeseen happens? Can they afford to go on? Who would pay for the home? Do you have protection, as you would want it to be? Can you afford it? YES, because your family being fully protected is more important than a SNACK.

We all spend 2 to 3 dollars a day on non-essentials, the question is WHAT ARE YOU SPENDING toward the most essential need your family has for their future?

Let us provide you with the protection you need and can AFFORD! Call today for a quote and set an appointment to start your coverage as soon as possible!


“Wilson Insurance Management helped us secure insurance when other agencies felt we were a risk. The fact that they treated us with respect and helped us in our time of need means a great deal to us. We had less than a week to secure insurance for our home and they were absolutely amazing in making this happen. They took care of all the leg work and all we had to do was show up and sign the papers. We ended up switching everything over to them… 4 vehicles, boat, camper & home and to top it all off we saved over $500 per year on our insurance rates and still maintained the same level of coverage. We have been extremely please with our service and would highly recommend them for all your insurance needs.” ~ A very satisfied customer, Missy

 

Definitions

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Term insurance: provides benefits in the event of death which often are used to pay final expenses, mortgages, car loans and other debts. For many families and businesses, term life insurance plays an integral role in their financial plans by providing significant amounts of protection when it is needed most. Proceeds can be used to pay bills or generate an income for a family when the breadwinner dies. Or, they can provide the cash needed to keep a business running if the owner or a key employee passes away.

Whole life insurance provides coverage for as long as you live. The annual premium is usually payable for a period of time such as 20 years or to age 65. Some are payable forever. The premium amount never changes unless there is a change in benefits. The cash value is guaranteed as shown in the policy.

Universal life insurance is a flexible premium adjustable life insurance product that allows you to vary the premium payment within certain limits as defined by the insurer and the tax code. The death benefit can be increased or decreased as defined in the policy without having to buy a new contract. The cash value earns interest at a rate determined by the insurer and that rate is subject to fluctuation based on market conditions. Like whole life, the cash value can be borrowed. Additionally, the cash value can simply be withdrawn, thereby avoiding interest expense charges, subject to policy limits.

Variable life insurance can be structured as whole life insurance or as universal life insurance. The distinguishing feature of variable life is that the cash value is dependent on the investment performance of one or more separate accounts. In other words, the policy owner is subject to financial risk and the loss of their cash value. Be sure to read and study the prospectus before buying this type of policy.

 

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Our business is also to help people save money for retirement. With so many different retirement savings plan options — 401(k), annuities, Traditional Individual Retirement Accounts (IRAs) and Roth IRAs — it can be a little overwhelming trying to decide which plan is right for you. No matter how far along you are in your financial planning, we can help.

 

Some of the things we offer:

  • Traditional and Roth IRAs with a variety of payout options
  • Rollover or transfer options in case you want to move all or part of your retirement savings into an annuity
  • CD-type of annuity with a guaranteed, tax-deferred interest rate for 3, 5 or 7 years, depending on the term you choose

Annuity

An annuity is still the only financial instrument that allows you to set up a guaranteed income stream that you cannot outlive.

Here’s what you can look forward to with annuities:

  • A safe investment alternative that includes guaranteed interest rates, tax deferral, and an option to have guaranteed income for life.
  • Fund qualified retirement plans such as Roth, Traditional or Simple IRAs or a Simplified Employee Pension (SEP)
  • A tax-deferred savings plan that is not subject to annual deposit limits
  • Use it to rollover qualified funds from an employer’s retirement plan, such as a 401(k) when changing jobs

Annuity (flash) saved

IRA

Traditional IRA – If you qualify, your contributions to a Traditional IRA are tax-deductible. For 2012, up to $5,000 can be deducted. Taxpayers over age 50, may contribute an extra $1,000 for 2012.

Roth IRA – Contributions to a Roth IRA are not tax-deductible. The principal benefit of a Roth IRA is that qualified withdrawals are tax-free. Additionally, there are no mandatory withdrawals at age 70 1/2. To learn more, click the link, or talk to an Erie Insurance Agent.

SEP-IRA or SIMPLE IRA – Are you self-employed? A SEP-IRA or a SIMPLE IRA could make sense. These “employer-sponsored” IRAs have special rules and additional benefits like higher contribution limits.

Are you changing jobs? You can transfer money from a 401k or other qualified plan to an Erie Family Life IRA without paying tax. As your local Erie Agent, we can answer your questions.