The Value of Life Insurance

Life insurance is about providing for the people you care about most. It pays them a sum of money you choose and may help protect them from the financial impact of your death. These funds can help your loved ones pay monthly living expenses, stay in their home and pay off debts, including final expenses. It can also help send a child to college one day, continue a family business or leave a legacy for your favorite charity. Life insurance may be right for you if… You want to provide for your loved ones Your family means the world to you and you want to help make sure they’re taken care of after you’re gone. You want your family to stay in their home You want to help ensure your mortgage is paid after you die so your family doesn’t have to leave the home they love. You want to make sure your kids go to college If something happens to you, you want to help your kids get a quality education…just the way you planned. You don’t want to leave your family in debt You know there may be bills to pay after you’re gone. And you don’t want your loved ones to have to pay your final expenses. We offer two basic types of life insurance Term Life Insurance Provides affordable coverage for a specific period of time. Payment amounts don't change for the guaranteed premium period. Typically, proceeds from a term life insurance policy may be used to cover needs like: Pay off the mortgage on your home Provide an emergency fund Help provide for a child's education fund Pay off personal debts Permanent Life Insurance Provides protection that lasts a lifetime or for the life of the policy. It may build cash value that can be used even when you are living. Typically, permanent insurance is used to cover long-term needs like: Pay for final expenses Provide an ongoing income for your family Supplement retirement income Fund an estate or business continuation plan

ChildStart

Every parent wants their children to have the very best start in life. When it comes to how to make that goal a reality, parents should consider the ChildStart plan, offered through Olympic Insurance Underwriters Inc. This program gives your child a head start on saving for their college education, the down payment of their first home, and even their retirement, all while giving them the protection of life insurance. The ChildStart plan is a way to help you set aside funds to protect your child's future while protecting their insurability, regardless of what happens later in life. The ChildStart life insurance policy provides insurance coverage for your child, coupled with a cash value savings component, which is certainly a smart start. It can be tough to save money for your child's future; SmartStart aims to make that a little bit easier. ChildStart goes beyond education expenses: in addition to using funds to help pay for the cost of college, available cash value can be used at any point in your child's life. If they want to use funds for a down payment on a home, they can do so! When it's time for them to retire, if the policy is still in force, they can even create a retirement income stream from their ChildStart policy. By setting aside a small amount of money every month or quarter starting when your child is young, you can help them set aside cash for future needs while providing valuable insurance coverage. A portion of your premium payment goes to pay the cost of life insurance coverage. The balance becomes part of the policy's cash value, which accumulates and grows tax-free.