Lets be honest, shopping for life insurance is probably the last thing anyone wants to do. It makes people confront their mortality, and can start some pretty uncomfortable conversations with your family. The market is filled with hundreds of companies selling a different product and when you talk to an adviser it can feel like they are speaking a different language.
There are so many questions; Whats the right policy for your needs? How much coverage do you need? What happens if I never use it? If you ask your agent these questions the answer will can be the policy they are selling today and then proceed to tell you why the company that offers the biggest commissions is the best one. Sadly many times once the sale is done, you never hear from them again.
This is not how we operate. Barnes Insurance Group is an independent agency contracted to sell policies from the top rated companies in the industry. We take the time to look at your whole financial picture and help you select the best coverage for your needs at the best rates available.
Rest assured, your relationship with B.I.G. will not end after the sale, you can count on us to be there for you throughout the years as your family grows and your financial needs change.
There are so many different types of policies on the market today, it would take all day to discuss them. Below are the 3 basic types of life insurance most of us are familiar with.
Do you want a policy that earns you money for the future? Do you want be certain your final expenses are taken care of so your loved ones don't have to resolve any burdens that you may leave behind? Is it important to your that the cost stays the same? Maybe you just want to make sure you have enough money for burial. A traditional whole life policy is a solid base to build your financial future.
Term life is the most basic form of protection. You pay a premium and you are covered for a set amount of coverage for a set period of time. This is the most affordable type of coverage and it can do a lot of things: You can use a term policy to eliminate debt in the event of your passing, pay off your mortgage, replace your future lost income. Eliminate any estate taxes. Fund a business purchase. Pay for your children's college tuition. Most importantly, it will give your family options if the worst happens.
Universal life insurance has the potential cash earnings similar to whole life but it's generally more affordable like term insurance. In the industry this type of policy can be known by many names, flexible, universal or guaranteed UL. It earns interest instead of dividends. Sometimes the interest rate can be tied to the stock market or securities or the consumer cost index. With many types of products each with lots of options, universal life can be very complicated and difficult to understand. However it can also be a great way to get the protection you need, earn interest on your premium and have a flexible payment options. It is essential you work with your agent to make sure your UL policy is working as you expected.