Life

Simple Retirement Solutions IG

Helping You Navigate the Medicare Maze, IULs, Annuities, and LIFE Insurance

Protect your family with Adam Reynolds Insurance

Final Expense

Final expense insurance is a small whole life insurance policy that is easy to qualify for.
The beneficiaries of a final expense life insurance policy can use the policy’s payout to pay for a funeral service, casket or cremation, medical bills, nursing home bills, an obituary, flowers, and more.
However, the death benefit can be used for any purpose whatsoever.
The death benefit is usually somewhere between $2,000 and $35,000.
The average cost of a funeral ranges between $7,000 and $12,000.

Mortgage Protection

Mortgage protection insurance (MPI) is a type of life insurance designed to pay off your mortgage if you were to pass away — and some policies also cover mortgage payments (usually for a limited period of time) if you become disabled.

Note: Don’t confuse MPI with private mortgage insurance (PMI), which protects the lender if you default on the loan. With PMI, your family would still owe the balance of the loan if you passed away.

Guaranteed approval. Even if you’re in poor health or work in a dangerous profession, there is guaranteed approval with no medical exams or lab tests.
No guesswork. The check goes straight to the lender for the exact mortgage balance, so there’ll always be enough and your family won’t have to handle the money.
Disability protection. Many MPI policies make mortgage payments (usually for a limited time) if you become disabled or lose your job.

Term Life

Term life is usually the least costly life insurance available because it offers a death benefit for a restricted time and doesn’t have a cash value component like permanent insurance has.

Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries if the insured person dies during the specified term.
These policies have no value other than the guaranteed death benefit and don’t feature a savings component (as is found in permanent life insurance products).
Term life premiums are based on a person’s age, health, and life expectancy.
Depending on the insurance company, it may be possible to convert term life into whole life insurance.
You can purchase term life policies that last 10, 15, 20 years, or more, and can usually renew them for an additional term.

Whole Life

Whole life insurance provides a death benefit to your heirs as well as a cash value component you can access for other expenses. However, it's typically more costly than term life insurance.

Whole life is a type of permanent insurance that can last for your entire lifetime.
Whole life costs more than term life insurance, which expires after a certain number of years.
A whole life policy also has a savings component that can build cash value over the years.

IUL

Indexed universal life (IUL) insurance is a type of permanent life insurance, meaning it has a cash value component coupled with a death benefit. The money in a policyholder's cash value account can earn interest by tracking a stock market index selected by the insurer, such as the Nasdaq-100 or the S&P 500.

The interest rate derived from the equity index account can fluctuate, the policy does offer an interest rate guarantee, which limits your losses. It also may cap your gains.

Indexed universal life (IUL) insurance lets the policyholder decide how much cash value to assign to a fixed-rate account and an equity-indexed account.
Indexed universal life is a form of permanent life insurance and like universal life, it allows for flexible premiums and possibly a flexible death benefit.
IUL insurance policies can track a number of well-known equity indexes, such as the S&P 500 or the Nasdaq-100 to earn interest credits.
IUL policies usually cap your returns but also guarantee a minimum interest rate.