For your free, no
obligation
life insurance quote from
any company in the industry contact
me, Ashley Brooks at:
ashleybrooks@sc.rr.com
or call my cell phone at
(803)331-5323 anytime!
 Term
Life Insurance - Is a policy designed for a
short "term" period of time. Term Life Insurance coverage comes in increments of
5 years.
Whole
Life Insurance
- Is
an endowment policy, building cash value and maintaining life coverage
until age 100 (endowment age). Learn more about whole life
insurance.
Universal
Life Insurance - Is a more modern permanent
policy that can build cash value, has flexible premiums, and can
maintain coverage for as little or as long as you would like.
Learn more about Universal Life Insurance. |
Life Insurance Agent
Ashley
Brooks can bring you accurate,
reliable
life insurance quotes and serve
you locally from
Columbia, South Carolina
 Hi, I'm Ashley
Brooks! I'm a Licensed*
Life Insurance Agent local to Columbia, S.C. How can I earn
your business?
Let me shop the market for you or write your policy through the company
of your choice. Using a local agent will cost you the same amount
of premium. Contact me anytime at
ashleybrooks@sc.rr.com
or call my cell phone
(803)331-5323
Term
versus Whole Life Insurance - How does
universal life insurance work?
My Editorial on the
Difference Between Term, Universal Life & Whole Life Insurance...
Universal Life - Universal
Life or "UL" offers greater flexibility than whole or term life. After
your initial payment, you can reduce or increase the amount of your
death benefit (although to increase the amount, you'll probably have to
give the insurance company medical proof that you are still in good
health). Also, after your initial payment, you can pay premiums any
time, in almost any amount within the policy's required minimums and
maximums. Most new universal life policies have an extended guarantee
which basically means that it will cover your life, guaranteed, for as
long as you live (not just to age 100). Universal life is more
expensive than term insurance in the short run, but definitely less
expensive in the long run. Universal life is like a savings account in
many ways; often guaranteeing interest on the money you put in with a
projection of what interest you could get. In short, Universal Life
builds cash value. Ask yourself why you are getting the coverage. If
you are getting life insurance for IF you die, you should lean towards a
term policy. If you are looking at getting life insurance for WHEN you
die, you should definitely look at a Universal Life or Whole Life
Policy. I would not recommend a "variable" policy - you know the
pitfalls of the stock market in this point in time. I advocate and sell
guarantees, not "what if scenarios".
Term Insurance - Term insurance is the cheapest life
insurance you can get. You can get a 1 year term, a 10, 15, 20, 25, or
even a 30 year term period of coverage. Term insurance does not build
cash value or gain any kind of interest. Term insurance is usually used
to cover a 15 or 30 year mortgage, a buy sell agreement (whereby one of
the business owners will retire in a set amount of time), or for other
reasons that would require a set amount of years to be covered. Term
insurance is the most widely used form of life insurance for IF you die,
not WHEN you die. Term Insurance brings peace of mind for those periods
of time that are critical to you. If, however, you want to leave money
to heirs in the form of a life insurance policy, term insurance is not
the way to go (see "a little trivia" above). There is an option if you
want to get your foot in the door with a cheap term policy - buy a term
policy now and "convert" it to a permanent policy (with the same
insurance company) before age 75 or before the term period expires.
This conversion is seamless - no medical questions, no doctors
records...just a form to fill out. One can convert a term policy to a
permanent policy at any time after buying the term policy. The best
thing about a conversion, restated, is that you do not have to
re-qualify for the coverage - in other words, you could have terminal
cancer and still be eligible to convert the policy at the same rating as
when you got the term policy!
Guaranteed Issue Whole Life - I carry a company in my portfolio
that will cover you no matter what your impairment. Whether you have
cancer, diabetes, lupus, heart disease, or any number of illnesses, I
can get you coverage - guaranteed! This coverage, usually for low face
amounts on an individual basis (under $35,000), is provided to anyone
who applies for it. There are no health or medical questions asked
whatsoever. The questions deal with who will be the insured, who will
own the policy, who will pay the premium, and who is the beneficiary.
Guaranteed issue plans are very expensive ones, since the companies have
to assume that most applicants will not be standard risks. This policy
may have a graded death benefit: there are limited benefits (either a
return of premium plus interest on that accumulated premium amount or a
percentage of the face amount) for the first 3 years, and the full
benefit is paid thereafter. If the death is from accidental causes, the
full benefit may be paid even in the first 3 years. To get as much
coverage as possible for a person with an uninsurable or marginal health
history, a broker might have the client buy guaranteed issue coverage
from several carriers. This provides, in total, the amount of coverage
needed.
Simplified Issue - This is essentially the same as Guaranteed
Issue coverage, but the insurer gets to reject some applicants based on
answers to a few medical questions (but far less than are asked in the
“regular” underwriting process for relatively healthy people). The
questions usually deal with working on a full-time basis, being
diagnosed with, or treated for certain diseases (AIDA, AIDS Related
Complex, cancer, heart problems), recent hospital stays or treatments,
or engaging in hazardous sports or activities. Since some of the worst
risks can be sifted out, rates are lower for this coverage than for
guaranteed issue products, but still higher than for an underwritten one
(higher than the premium with a "regular" carrier for a more healthy
client.. There still may be a graded death benefit as an added
protection for the insurer. If you need advice on simplified issue or
guaranteed issue it is critical that you speak with a life insurance
agent.
Whole Life or Ordinary Life - Where "preferred risks" are
concerned (this product may suit preferred risks better than simplified
issue or guaranteed issue, ask licensed agent for details), this
non-participating policy provides permanent protection at competitive
premiums; building cash value along the way and endowing for the face
amount. The moniker of “whole life” was attached since this coverage was
designed to protect for the whole of a person’s life, usually to age 95
or 100. This contract series provides a guaranteed rate of interest to
be applied to policy values (right now the guaranteed interest rate is
3-4% of the money you put in. The insurance company can credit a higher
interest rate than the contractual guarantee, but does not promise to do
so. The contract usually features current mortality charges as well,
along with a schedule of maximum mortality costs. Whole life is by far
the most expensive form of insurance...but it may fit well for your
financial situation. |
Lets Find Out Who Wants
Your Business!
 Transamerica
Genworth
Prudential
MetLife
Banner
AXA
West
Coast Life
And
Dozens More! |
