The foundation of financial security for your family
Our Process
Everything begins with a conversation. Our recommendations are only based on what you are trying to accomplish.
We want to understand your budget, purpose, beneficiaries and their age, if the proceeds will be taxed, etc. We will guide you through a series of questions to see the big picture.
We will then make a recommendation based on the most efficient and effective path.
Client Best Interest is our purpose. State 48 Life Insurance was built on TRUST. We work for you.
Types of Insurance Products
Term Life Insurance
The most affordable coverage to meet your temporary needs for a specific number of years. You'll receive a guaranteed death benefit for the term you choose, and your payments are guaranteed to remain level for the length of the term.
A term life insurance policy can help ensure your mortgage is covered, your kids are able to go to college, or your family can cover everyday expenses should something happen to you.
Typically, this conversation starts with a budget or specific coverage in mind.
Death benefit
In the event of your passing, your beneficiaries will receive a tax-free lump-sum payment.
Affordable
You can get the coverage you want at the price you can afford. Most term policies have level premiums that are guaranteed for a specific period of time (usually 10-20 years).
Convertible
You can convert many term life insurance polices to permanent life insurance without any medical questions or exams. Converting also allows you access to different types of life insurance that offer financial benefits such as long term care and/or cash value for retirement. This is an important conideration we will help determine.
Indexed Universal Life Insurance
Affordable coverage for those that believe in the efficiency of the markets and want a policy that will not post a negative value.
Death benefit
In the event of your passing, your beneficiaries will receive a lump-sum payment to help cover things like college tuition, income gaps, or paying off the mortgage.
Tax-Free
Money inside a life insurance policy is tax-free. Beneficiaries receive a tax free death benefit. Policy owners that take cash out of the policy, which sometimes can be a useful strategy for retirement income or other benefits.
Crediting
IUL’s have higher return potential, since they credit based on an index, like the S&P or NASDAQ. IUL’s credit only positive or zero returns. They will not go down in value for death benefit or cash value once credited. The contract can be built around a specific death benefit or to grow the cash value savings, which is a tax free savings bucket.
Riders
Waiver of Premium is a rider available which pays your insurance in case you are permanently disabled and unable to pay the premium.
Long Term Care rider can often be built into the death benefit. There are different ways the insurance carrier will pay this benefit, which is built into the policy upfront.
Annuities
There are many types of annuities. The most common benefit of annuities is handing the risk to the insurance company, in exchange for certain protections and guarantees. Annuities typically provide protection, protection with growth, or to create a pension-like income. Some annuities have many purposes.
Annuities are complex. Experienced professionals at State 48 will help you decide if an annuity is right for you.
Tax-Deferred
Money in annuities grow tax-deferred, meaning they are taxed when distributed.
Income
Some annuities are designed to build an income, like a pension or social security check.
Crediting
Annuity crediting is based on the individual contract. Annuities can be based on fixed terms, variable, or indexed.
Surrender Charges
Surrender Charges are built into annuity contracts to keep the contract in force for a specific amount of time. This is crucial to understanding what the purpose and time horizon of the money is before buying an annuity.
Whole Life Insurance
Coverage for those that want guarantees.
Death benefit
In the event of your passing, your beneficiaries will receive a tax-free lump-sum payment.
Tax-Free
Money inside a life insurance policy is tax-free. Beneficiaries receive a tax free death benefit. Policy owners that take cash out of the policy (say, for example retirement money)
Crediting
Whole Life policies have a guaranteed minimum dividend. Historically, the actual dividend paid is larger than the minimum guaranteed.
Riders
Waiver of Premium is a rider available which pays your insurance in case you are permanently disabled and unable to pay the premium.
Long Term Care rider can often be built into the death benefit. There are different ways the insurance carrier will pay this benefit, which is built into the policy upfront.
Disability Insurance
Disability Insurance is often used by white collar individuals with a higher income.
DI will help cover missing salaries, commissions, and bonuses if you were to become too sick or disabled over a long period of time. This protects your current assets like retirement savings, as you will not need to deplete them to cover expenses like mortgage, college tuition, and keeping up your standard of living. You may also be able to purchase a DI policy to help you continue saving for retirement while you’re disabled. There are many options, and State 48 can help find the right policy for you.
“69% of consumers with life insurance say they are less stressed knowing their loved ones are financially protected.
–2019 Insure Your Love Consumer Survey, Life Happens
