Life Insurance is the foundation of a strong financial plan. There are many life insurance options to consider for protecting your family, income, and life style.
Term insurance is the lowest premium life insurance available, which allows you to maximize your coverage at an affordable cost. It offers flexibility, competitive prices, and strong protection guarantees. Holycross Brokerage can help you choose a policy specifically designed for your needs. You can choose a term policy for 10, 15, 20, or 30 years.
Each Term Life plan is guaranteed renewable and convertible to a permanent policy. When a specified term period has ended, you may choose to renew the change your term policy into a permanent life insurance plan without having to prove that your are still insurable. The premium for the term renewal period or conversion to a permanent plan will be adjusted to reflect your current age.
Return of Premium Option (Surrender Benefit Rider)
This option is ideal for individuals interested in basic term protection but hesitant to purchase life insurance. By adding the Surrender Benefit Rider to a 15, 20, or 30-year plans, a death benefit is there if you need it. If the benefit is not needed, you will receive 100% return of all premiums paid at the end of the term period, as long as your policy is in force.
Universal Life Insurance
Things change as you move through life’s stages. You have to be able to adjust to what life brings and so should your life insurance. That’s why universal life insurance provides essential permanent life insurance coverage combined with a unique degree of flexibility not offered by all life insurance products.
A flexible premium universal life insurance policy offering insurance protection, flexibility and tax-deferred cash value build up. It gives you the ability to adapt coverage and payments to meet your changing needs without compromising the continued insurance coverage you can count on.
How Does Universal Life Insurance Work?
Universal life insurance is about value. This plan is an excellent solution for protecting your dreams and securing your financial future. Universal life insurance provides the following features:
- A death benefit that is free from income taxes
Cash value that grows tax-deferred and can be accessed when needed
Flexible life insurance protection that can adapt to your changing needs
Premium payments designed to fit your budget
Can provide level term insurance on your spouse and children
Gives you the ability to customize your coverage with a variety of policy riders
We offer many options and carries with these plans.
Whole Life Insurance
Whole life insurance is one life protection solution that offers many advantages that include simplicity, predictability, and guarantees. In today’s financial marketplace, economies and market can change quickly and provide no financial guarantees of what tomorrow will offer. Whole life insurance has remained a solid financial product that maximizes the benefits of three guarantees: death benefit, fixed premiums, and cash value. These three guarantees of whole life provide peace of mind, security, and confidence in your financial future. Despite unforeseen financial setbacks, the basic guarantees of whole life provide one simple solution that helps you stay on the course for achieving long-term goals.
Financial Benefits of Whole Life Insurance
- Cash value is guaranteed to grow each year to age 121, as long as you maintain your policy.
Favorable tax treatment of life insurance policies includes tax-free death benefits, tax-deferred cash accumulation, and tax fee policy loans.
The death benefit is guaranteed to never go down, as long as you pay the premiums due and keep the policy in force.
Dividends, though not guaranteed, can provide additional value based on financial performance of the company.
Liquidity is available through economical policy loans against the cash value in the policy.
Premiums are guaranteed to never increase.
Whole life provides a secure framework for long-term planning.
Beverly Penny was one of a dozen people whose names agent Micah Holycross received on a list of referrals. While he contacted all twelve, Beverly was the only one interested in life insurance. She had just lost her nursing job due to a hospital closure, but had a new job lined up and wanted to provide protection for her family in case something should happen to her. Three months after purchasing a life insurance policy, Beverly was killed in an accident while driving home from work in a snowstorm. One of Beverly’s children, Crystal, remembered her mom meeting Micah and contacted him the day of the accident. Micah met with Crystal and her siblings immediately and explained how to properly allocate their mother’s benefits, helped them with real estate decisions, and provided advice regarding college savings and other important goals. Since then, Crystal has earned a marketing degree and gained employment as a financial analyst in a leading hospital. She has a 9-year-old son, and knowing firsthand the importance of providing for his future. She too, has purchased life insurance through Holycross Brokerage.