Life Insurance in Tracy, CA

Life insurance is a financial tool that can help provide financial security for you or your loved ones by replacing lost income and covering various expenses after your death or when you are still alive.  If you’re looking for life insurance, we’re here to help. We have a team of experts ready to assist you with your needs: from the very basic term policy to a complex deferred compensation arrangement.

What Is Life Insurance?

Life Insurance is the “Swiss Army Knife” of Tools 

Life Insurance: an incredibly flexible tool – one that can be used to:

• Replace income in the event of Death – tax free.
• Replace income in the event of Chronic or Critical Illness – tax free. (it pays you while you are alive and may need the funds the most).
• Pay-off Mortgages and other loans with tax free dollars.
• Fund a Buy / Sell Agreement for your business.
• Create a supplemental retirement fund using tax deferred growth (with interest paid based on stock market performance) that allows tax free or tax-advantaged withdrawals. And it has a death benefit that will complete the funding if something unfortunate and unexpected happens to you prior to fully funding your retirement.
• Can be used as a non-qualified deferred income tool for Key Employees.
• And so much more

If you have any interest in learning more about how you might be able to use life insurance – We should start with a basic needs analysis – simply a “what would you want to have happen if?” exercise – the link below is a great tool – the data and the report are confidential – you and I will be the only ones to see it and no one will contact you or sell your information.

Go ahead and click the link – get the report and then reach out to me if you have any questions.

What Are the Types of Life Insurance?

There are two primary types of life insurance, including:

• Term life insurance—A term life policy provides a death benefit to your loved ones if you die during the policy’s term. This term might be a period of 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, the policy does not pay and will expire when the term ends.
• Permanent—A permanent life policy will last for the remainder of your life once you enroll. It will not expire unless you stop paying for it. Additionally, such a policy offers cash value investment opportunities. This cash value component can enable you to receive a source of income during your lifetime (in addition to the eventual death benefit).

One of the best options for Permanent insurance is the Indexed Universal Life Policy (IUL), to learn more, click the link below.

Both Term and Permanent policies can offer “Living Benefits”

Living benefits, also known as accelerated benefits or riders, are features that can be added to a life insurance policy to provide policyholders with financial assistance in certain circumstances while they are still alive. These benefits enhance the overall value of life insurance beyond the traditional death benefit. Here are some common living benefits of life insurance:

Accelerated Death Benefit Rider (ADB)

• This rider allows the policyholder to receive a portion of the death benefit if diagnosed with a terminal illness. The funds can be used to cover medical expenses, quality of life enhancements, or other financial needs.

Critical Illness Rider

• Provides a lump-sum payment if the policyholder is diagnosed with a covered critical illness, such as cancer, heart attack, or stroke. The funds can be used to cover medical costs, treatment, or other financial obligations.

Chronic Illness Rider

• Offers benefits if the policyholder becomes chronically ill and is unable to perform certain activities of daily living without assistance. The funds can be used for long-term care expenses or other financial needs.

Waiver of Premium Rider

• If the policyholder becomes disabled or seriously ill and is unable to work, this rider waives the premium payments while keeping the policy in force. It ensures that the policyholder continues to receive coverage even during periods of financial hardship.

Return of Premium Rider

• This rider refunds a portion of the premiums paid if the policyholder outlives the term of the policy. It provides a savings component and can be appealing to those who want a form of “cash back” if they don’t use the death benefit.

These living benefits can provide financial support and flexibility during challenging times, allowing policyholders to use the funds for medical expenses, maintaining their lifestyle, or addressing other financial needs. Keep in mind that the availability and terms of these riders may vary between insurance companies, so it’s essential to carefully review and understand the terms and conditions of the specific policy and riders being considered.

Contact Us

Contact Mike at ISE Insurance Services to find out how we can tailor a life insurance plan to help you protect what’s important to you.