Family Life Insurance And Key Person Life Insurance

State Insurance Solutions in Arlington, TX, is an independent agency that offers a variety of insurance products.  These products meet the needs of its customers and are an essential part of financial planning. Many people purchase life insurance to pay for funeral expenses, to pay off any liabilities, to fund children’s costs, to replenish the loss of spouse’s income, to settle the ownership of a business and to settle estate taxes.  State Insurance Solutions in Arlington, TX, is an independent agency that offers a variety of insurance products. 

The basic forms of life insurance offered to the average American is Whole Life Insurance, Universal Life and Term Insurance: 
    
1.    Whole Life Insurance or permanent life insurance expires on your death and pays out contracted for death benefits.  Permanent life has a savings benefit 
      and thus has a cash value.

2.   Universal Life Insurance offers flexible premiums, which will give the insured the opportunity of increasing the death benefits by over funding the policy.  Thus, the cash value can be built quicker than whole life, which makes investments more attractive because the investments are tax-deferred.

3.   Term Life Insurance can be purchased for a specific term such as twenty years by a young family with small children. Thus, the policyholder is insured only for a fixed period and parents may want to protect their children for only a fixed period, such as finishing college. 

The businesses Key Person owns his or her policy while it is purchased by the employer. The life insurance is used to protect a business as an incentive to attract and retain a key person who is a highly productive executive so this person would remain loyal to the company. Without this integral person, the company could fail.  This enticement is in the form of an executive benefits package, used to fund retirement and the employee has the authority to choose his or her own investments.  Its primary purpose is the death benefit.  

The agents employed by State Insurance Solutions are experts in life insurance products to protect the family and businesses.  Please call and make an appointment!