Life Insurance

McGohan Brabender offers Individual or Business Owned life insurance, including:

• Key-Man
• Stock Purchase
• Estate Policy
• Second to Die
• Deferred Compensation
• Group Carve Out

We also provide Term, Universal, Variable or Whole Life insurance.

How Does It Work?

• At your death, the death benefit of the policy is paid to your named beneficiary.
• The benefit received is not taxable and does not pass through your estate

Who Should Buy Life Insurance?

• Married
• Divorced or Widowed
• Single Parent
• Single
• You still have financial responsibilities (loans and final expenses)

Why Should You Buy Life Insurance?

• Helps to guarantee your family will not suffer a severe financial loss at your death
• To protect your family if you were to die - for the income you provide or the services you generate
• Life insurance pays off mortgages, funds college educations, replaces income, and takes care of your other final expenses

Why Should You Buy Life Insurance Now?

• Rates Increase As you grow older
• Lock in your insurability

Types of Life Insurance

• Term Insurance
  • Affordable
  • NoCash Value
  • Pays a Specific Death Benefit at Your Death
  • Maximum term is 30 years
  • Conversion Options
• Cash Value Insurance
  • Whole Life / Universal Life / Variable Life
• Cash Value - Loans and Withdrawals
• Earns a Fixed Rate/Dividend or Variable Investment Options
• Pay Premium for Whole Life or Flexible Premium
• Surrender Charges/Fees
• Risks Associated with Investment options
• Cost of Insurance versus Policy Value
• Expensive
• Other Types
  • Second-to-Die
  • First-to-Die
  • No-Load

How Do You Apply For Life Insurance?

• Paramedical Exam
• Application - Personal, Medical, and Family History Questions
• Approved, Rated or Declined
• Preferred Vs. Standard Rates
• Smoking
• 2-year Incontestability
• Suicide

Mistakes People Make Buying Life Insurance

• Buying Mail Order Insurance
• Buying Investment Insurance (UL or VUL) Instead of Contributing to Your Retirement
• Buying Expensive Riders
• Buying a Policy and Allowing It to Lapse
• Comparison Shop
• Not Picking a Quality Company

Things to Remember:

• Talk to your agent about your goals and how life insurance can help you reach those goals.
• Don’t buy life insurance unless you intend to stick with it. If you let a policy lapse, you may get little or nothing in return for your premium investment.
• Read your policy carefully and ask your agent for an explanation of anything you don’t understand.
• Review your insurance program every few years to keep up with changes in your income and responsibilities.

What insurance is right for your needs? Contact us for more information.

All guarantees, including death benefits, are subject to the claims paying ability of the issuing insurance company.