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Please choose one of the options below to request an appointment or to get a rate quote from a licensed Powerhouse Insurance Agent:

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What is a Life Insurance Plan?

 

A Life Insurance plan, is a contract between an insurance policy holder and an insurance company that pays a designated beneficiary a sum of money upon the death of an insured person or after a set period.

Life Insurance is considered by many a strategic monetary tool that lessens financial burdens by providing funds to cover unavoidable expenses that accompany the loss of life.

 

There are four primary roles involved in a life insurance policy. These roles are defined as the insurer, the owner, the insured and the beneficiary. The insurer is the insurance company, which is responsible for paying the insurance claim upon the death of the insured person.  The owner of the policy is responsible for paying the premiums to the insurance company. The insured is the person the policy is for and the beneficiary(s) is the person(s), trust, etc. designated to receive the life insurance benefit upon the insured’s passing. 

Life insurance is an excellent way to help prepare for life’s unforeseen moments. Our agents at Powerhouse can guide you through the different types of life insurance policies available and help you decide on the policy that will best fulfill your unique needs, budget, and goals.

What Life Insurance Plan options are available?

Powerhouse Insurance Agency Inc., offers three different life insurance plan options. We encourage you to select the plan that suits your specific needs from the following insurance plans that we represent:

 

Term Life Insurance


What is Term Life Insurance?

  • Term Life Insurance is the most economical of insurance policies. However this insurance has a limited coverage period or “term” such as 10 or 20 years. Once that period or term is complete, it is up to the policy owner to decide whether to renew it or to let it end.

  • Generally, Term Life Insurance is less expensive to buy during the initial term when the risk of death is relatively low. The premiums are guaranteed for the length of the term, after which the policy may offer continued coverage, but usually at a substantially higher premium payment rate, making the policy cost-prohibitive to maintain.

  • Prices rise in accordance with increasing risks and advancing age.

How do I Learn More or Get a Rate Quote?

If you are looking to learn more about Term Life Insurance, or if you’d like to request an appointment or get a rate quote, call a licensed Powerhouse Insurance Agent at: (214) 624-9858 or 1-866-934-5658




Universal Life Insurance


What is Universal Life Insurance?

  • Universal Life Insurance is a type of permanent life insurance. Like most permanent life policies, Universal Life Insurance combines a savings component with lifelong protection. The policy remains in force until the passing of the insured, as long as the required premium is paid. Upon the death of the insured, the death benefit is paid out to the beneficiaries.
  • Universal Life typically has higher premium payments than term life insurance and offer additional features such as:
    • You can withdraw money or borrow against it
    • Your cash value earns interest
    • You have flexibility with premiums
    • You can adjust the death benefit
  • Because Universal Life Insurance policies are permanent, any early termination of the contract by the policy holder is subject to penalties.

How do I Learn More or Get a Rate Quote?

If you are looking to learn more about Universal Life Insurance, or if you’d like to request an appointment or get a rate quote, call a licensed Powerhouse Insurance Agent at:

(214) 624-9858 or 1-866-934-5658




Final Expense (Burial) Insurance


What is Final Expense (Burial) Insurance?

The death of a loved one is often compounded by the sudden loss of income and unexpected cost associated with burial. Expenses associated with death, such as caskets and embalming, can have a substantial financial impact on those you love. Final expense life insurance can help protect loved ones from having to pay these costs out of pocket.

Traditional fully underwritten life insurance products have higher premiums, and have higher medical underwriting thresholds. Final Expense products are typically more affordable and have fewer underwriting requirements.

A Simplified-Issue Final Expense product can help fill the need. Benefit amounts are typically available in smaller increments as low as $1,000, eliminating the need for applicants to purchase more insurance than they desire.

General Features and Benefits of Final Expense policies:

• Issue ages generally range from 50-80. However,

• Face-amounts as low as $1,000 and up to $30,000 are available.

• Minimal underwriting requirements.

• Level Premiums, Graded, Modified, or Guaranteed Issue.

• Terminal Illness Accelerated Death Benefit Rider.

• Some companies provide living benefits.

How do I Learn More or Get a Rate Quote?

If you are looking to learn more about Final Expense (Burial) Insurance Plans, or if you’d like to request an appointment or get a rate quote, call a licensed Powerhouse Insurance Agent at:

(214) 624-9858 or 1-866-934-5658





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