insurance

Navigate Life Financial

insurance

understanding what type is best for you

We work with all the major insurers. Click here to see who we represent.

Term - Excellent low-cost option for those looking for coverage for a temporary period or limited number of years – typically 10-30 yrs. There are no cash values associated with this insurance and typically it has the ability to convert to a carrier’s permanent life product without further underwriting.

Whole Life – The most expensive coverage, however offers the strongest of guarantees on premium, cash values and death benefit. These policies rely on company dividends to fuel cash values and typically have restrictive premium and withdrawal/loan features. Targets the most conservative of clients seeking peace of mind who need permanent coverage and guaranteed cash values.

Universal Life – A popular permanent coverage option for those who are looking for cost-efficient pricing, flexible premiums, in addition to cash values and death benefit protection. Fixed rates of return credited to the cash values are slightly higher than whole life policies and subject to the performance of the company’s general account. Various riders for lifetime death benefit guarantees, long term care, early cash values and terminal illness provide clients a customized solution.

Indexed Universal Life – Also a very popular permanent coverage option that has all the features and benefits of universal life but with one main difference: interest credited to the policy’s cash values are based on the movements of a well-known stock market index, typically the S&P 500 Index. Although money is not directly invested in the stock market, these policies offer downside protection of cash values and upside potential subject to a cap, which is unlike Variable Universal Life. Looking for ~ 1 to 3% greater returns on average versus traditional universal life.

Disability Insurance – often called DI or disability income insurance protects your income when you become disabled for an extended period of time. According to the Council for Disability Awareness, 37 million Americans are classified as disabled; about 12% of the total population. More than 50% of those disabled Americans are in their working years, age 18-64. Can you maintain your lifestyle if you become disabled?

Long Term Care Insurance (LTCI) - generally covers home care, assisted living, adult daycare and skilled and other nursing care, typically if the individual is unable to perform at least 2 out of the 7 ADLs (activities of daily living) such as dressing, bathing, eating, continence, transferring (getting in and out of a bed or chair) and walking for at least 90 consecutive days. These benefits are non-taxable in most cases and vary by plan such as how long the benefits pay, elimination period, underwriting and price.