Goodwill Life Insurance Co

Goodwill Life Insurance Co Insurance broker representing over 50+ companies specializing in life, final expense, and more!

Many people look to life insurance for protection for their families or "death protection". While that is one of the mai...
04/18/2023

Many people look to life insurance for protection for their families or "death protection". While that is one of the main uses, there are many other uses for life insurance besides just death benefits.

A universal life insurance policy for example offers:
Living benefits such as terminal, chronic, and critical illness riders that state you can accelerate a portion of the death benefit to use if you get a qualifying illness like, heart attack, stroke, cancer ect.

In addition to this, universal life policies offer the ability to build cash value in the policy.
Why is this important?
Because the cash value inside your policy can be used for a variety of uses such as: College funding, Vacation funds, medical expenses, home remodel, even as a supplement to a retirement via tax free income!*

The cash value inside the policy grow tax deferred and is also not subject to contribution limits like 401(k)s and IRA's.

To learn more, feel free to send me a message!

Term Life VS Whole LifeWhich is better for you?What’s the difference?Term life is also known as “temporary” insurance. I...
02/02/2023

Term Life VS Whole Life

Which is better for you?
What’s the difference?

Term life is also known as “temporary” insurance. It’s typically the cheapest form of insurance and is designed to last within a specified time period.
Typically you can get term insurance with term periods of 10,15,20 and 30 years. After the term period it expires and coverage ends.

Payments are fixed for the durantion of coverage, after that period coverage expires or can continue but at a different rate. It also builds no cash value.
This option is typically good for younger people or people on a budget that have lots of debt to repay: student loans, mortgage, car notes ect.

Whole life insurance is known as “permanent” insurance and is designed to last your whole life. This type of coverage is also known as burial insurance. This is more commonly marketed to older people although younger people can (and should) get some whole life coverage because once issued the policy stay with you for life (assuming you pay the premiums).
Other benefits of whole life is that once the rate is locked in, it never increases (another benefit for younger couples to get it earlier than when they need it) and it builds cash value. Think of it as an additional savings account, part of your premium payment goes to the cost to pay the coverage and part of it gets put into a savings account (rates of interest are typically higher than that of a traditional savings account from a bank).
Whichever you choose make sure to weigh the options.
If you’d like to see which may be the right for you, feel free to take our FREE quiz at:

https://ivlv.me/SLJvk

Address

Houston, TX

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 6:30pm
Friday 9am - 5pm

Telephone

+12817796209

Website

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