San Antonio Life Insurance Coverage Provider
Life insurance and financial products are rarely bought spontaneously. Insurance specialists must help the client understand the reasons why they need them. No one wants to think about what will happen after they’re gone, but it’s important to make sure the needs of your loved ones are covered. Life insurance provides individuals with peace of mind knowing each of their loved ones are protected. Here at SOGO we understand how complex purchasing a life insurance policy can be and that is why we will guide you through it all.
Types of Insurance Coverage
The most common types of life insurance policies that we offer are Term Life, Whole Life, and Universal Life Insurance. Depending on your individual needs we will explore your options and provide you with the knowledge required to make the best decision for you and for your family.
Term Insurance policies are guaranteed to protect your for a set period of time, generally 5 to 30 years. It is also available at a more affordable rate. If you die within the term of the policy, your beneficiary will receive the value of the policy. And your death benefits are usually free of income tax. If you are still living when the policy expires, coverage ends and nothing is paid.
Whole life insurance is in effect for the insurer’s whole life. In addition to providing a death benefit, a whole life policy can build cash value. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.
Universal Life Insurance is a type of permanent life insurance where the portion of the premium over the cost of coverage is credited to the policy cash value. The policy will pay a minimum guaranteed rate of return. Any returns above the guaranteed minimum vary with the performance of the insurance company’s portfolio. The policyholder has no control over how these funds are invested; funds are managed by the insurance company’s professional portfolio managers.
Contact SOGO Wealth and Risk Management
Our specialists are ready to meet with you and answer all of your questions. Contact us today to schedule a consultation in person or by phone. We are here to serve you!
Call us toll free 1-800-403-0947 or 210-499-5050.