Beal Financial Group focuses on a dozen or so top companies that offer mortgage protection, final expense and term life insurance, and tax-free retirement through Indexed Universal Life -- products that are in high demand, providing our clients with the best quality coverage available.
For most homeowners, the mortgage is the largest source of personal debt. Buying a home is one of the biggest financial decisions many people make, and often they do not consider how their loved ones will satisfy that pledge if something were to happen to them. Mortgage protection insurance is a type of life insurance that protects a homeowner and their family for a limited period of time – usually the length of the mortgage term. It is typically designed to replace an income of the primary wage earner so that the surviving family members do not have to struggle to pay the mortgage or other bills. Mortgage protection can be purchased for one or both spouses, and often does not require a physical exam.
Preparing for a funeral can be an exhausting event in an already emotional time. An alarming number of decisions must be made, and the costs associated with those choices are overwhelming. Beal Financial Group offers several Final Expense products to our clients that are extremely affordable and usually do not require a medical exam. While standard whole life insurance policies can provide funeral and burial coverage, Final Expense insurance policies provide superior coverage given the facts they contain a lower face value than traditional life insurance policies. The cost for a burial insurance policy is affordable and can provide thousands of dollars to pay for a basic funeral service, casket, cemetery plot and flowers. Coverage is available for ages 0 – 89, the monthly payments are very affordable, and medical exams are not required! Final Expense insurance is a superior choice for seniors because it removes the financial obligations their family would face during an already challenging time of loss.
A proper retirement income plan should include multiple sources of retirement income. At least one of those income sources should be non-taxable. This allows a retiree to coordinate various retirement income streams to minimize the overall taxation of that income. An Indexed Universal Life Insurance plan (IUL) can be used to gain interest on retirement savings and provide an income during the golden years. Because an IUL is a type of life insurance, any unused money can be left to beneficiaries. There are several advantages to an Indexed Universal Life policy that are not available with IRA’s, bonds or 401(k) plans. The primary benefit is that the plan has no market risk, so a client will not lose any money. Other advantages include no limit to contributions, a higher return than other retirement plans, and money can be withdrawn without heavy penalties. If a customer is looking for a retirement plan that earns interest and never loses money, an IUL is an excellent choice.
Term life insurance is one of the most popular types of life insurance products because of its affordability and the ease with which it can be customized to each family’s particular needs. If a client purchases a term life insurance plan and passes away within the term (the set period of the policy), a death benefit will be paid out to the loved ones they have chosen as the beneficiaries of the policy. The dollar amount of the benefit is usually based upon how much money the family needs to pay everyday expenses after a loss and how much the cost of the funeral would be. The “term” refers to how many years the policy is in force and is being paid for, usually 10, 15, 20 or 30 years. A variety of options are available to fit any budget, and some do not require a medical exam. It is even possible to have premiums refunded if a policy expires.
And these are just a few of the companies that Beal Financial Group represents!