Uncover The Benefits of Life Insurance

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Uncover The Benefits of Life Insurance

Uncover The Benefits Of Life Insurance
If you want to protect the people you love, life insurance should be an important part of your financial planning. It can provide a meaningful amount of money to your family, give you a way to leave a legacy, and much more.
What are some used for life insurance?
The main benefit of a life insurance policy is to provide a death benefit to beneficiaries should you pass on. There may be a variety of advantages to the life insurance policy you choose. Here are some features you may be overlooking. Some features you may be overlooking include living benefits, coverage for final expenses, retirement savings, and funds for your child’s college, and business planning.

Living benefits

Some products include accelerated death benefits, which allow you to accelerate a portion of the death benefit while living if you should be diagnosed with a qualifying illness. These benefits are subject to eligibility requirements. The funds can be used toward medical bills or any use of your choosing.

Coverage for final expenses

The national median cost for a funeral could end up costing thousands of dollars. One of the biggest costs for your family, when you die, is your funeral. You may leave behind end-of-life expenses such as medical bills, which will fall on the shoulders of your loved ones. Life insurance can help prevent that kind of financial and emotional strain on your family by covering the cost of your burial and other expenses.

Retirement savings

Whether you started retirement planning too late, or you worry you simply won’t have enough retirement income to meet your needs in your later years, life insurance can help supplement your retirement income with policies that feature cash value growth potential. You can access cash value through policy loans or withdrawals and the money could be used for a generally tax-free income stream.

Funds for your child’s college

Did you know that life insurance can be a great college funding solution? With permanent life insurance, you can protect your family and build college savings at the same time. With permanent life insurance, you have the opportunity to grow cash value by taking advantage of indices that are linked to the stock market when the market is highly subject to a cap while protecting yourself from loss when the market is low with a 0% floor. You can then use the cash value that you may accumulate over time to help pay college tuition costs, whether it’s an in-state or out-of-state college.

Business planning

Are you aware of the role life insurance can play in business planning? Whether you’re an entrepreneur thinking about how to protect your share of the business or are looking for ways to reward your top performers, life insurance could be a solution.

To get started, contact an AWS specialist today

Keep in mind that you have 24/7 access to your account and also, for your convenience, you can download our mobile app. See directions here.
If you are interested in learning about the types of insurance coverage AWS has to offer, please contact one of our experienced and professional agents today!

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Melinda Martin

Account Executive

Melinda began her insurance career in 1985 with Alexander & Alexander where she received her Property & Casualty and Life & Health license. Since then she has worked at various agencies in the New Orleans area and in California as a senior account manager for Employee Benefit Plans.  While in California, she was also the Membership Director for the Burbank Chamber of Commerce. Melinda joined the AWS team in July of 2015.

Michael A. Seeling

Vice President

Graduated from the University of Louisiana at Lafayette with a B.A. in Insurance Risk Management and is a graduate of Archbishop Rummel High School in New Orleans. He joined AWS in October of 2008 and has been awarded the Patient Protection and Affordable Care Act Certification (PPACA). Additionally, he is working towards his Certified Insurance Counselor (CIC), Registered Health Underwriter (RHU), and Registered Employee Benefits Consultant (REBC) designations. He is also a member of the National Association of Health Underwriters (NAHU), National Association of Insurance Financial Advisors (NAIFA), and is an active member of the Fore!Kids foundation.