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Life Insurance - Manhattan & Westchester County, NY, Fairfield County, CT & New Jersey

Life insurance is a necessary component of a family’s financial security, whether you’re just starting out with a newborn or have a family of six to care for. It’s critical in the event of your death to help mitigate financial hardships for your survivor(s) – and an excellent tool for estate planning and wealth perpetuation.

There are several life insurance options available of which our staff at A.J. Benet would be happy to review with you. You have term life insurance, which is ideal for people with a specific insurance need for a defined period of time. For example, you’re a young couple with kids and, although you are doing well, you haven’t yet saved a sufficient nest egg to support your dependents in the event of premature death. Term insurance will pay the face amount on the policy to your named beneficiary. The amount of coverage can include living expenses for survivors; the lump sum amount necessary to fund future educational expenses; and/or money to provide for the future retirement needs of the surviving spouse. Premiums for term policies are often reasonable for those in good health up to about age 50.

There is also whole life or permanent insurance that combines a term policy with an investment component and is available in three ways: traditional whole life, universal and variable universal. Whole life insurance relies insurance company dividends as the source of accumulation inside the policy. These policies are often used to assist beneficiaries to fund a business buyout or pay estate or capital gains taxes on inheritance so properties can be kept in a family. Universal and variable universal life holders invest by using sub-accounts, which are like mutual funds, inside the policy.

Permanent life insurance earnings grow on a tax-deferred basis, and you may borrow against your cash value. Some permit you to change premium payments based on the accumulation of value in the policy, and some permit you to alter the death benefit during the course of the policy period.

Plan for the future with life insurance.

Give us a call at (888) 639-4560, email us, or return the form on this page, and one of our advisors will give you a call. Since 1964, A.J. Benet has been serving individuals, residents, and businesses from Manhattan to Westchester County in New York, Fairfield County in Connecticut, and New Jersey.