American Benefits Inc. is your trusted advisor to protect what is most important: your family’s future well-being. We work with clients and their families to provide a custom plan based on their needs and assets.
We work with the industry’s most trusted carriers to provide a tax-free death benefit that gives tax-free income money to named beneficiaries. That money can be used for funeral expenses, debt, tuition, estate taxes or virtually any financial need you leave behind. A death benefit also allows business partners to buy out the deceased partner’s interests, thus preventing a forced liquidation.
Our life insurance policies can even provide benefits while you are still living. The cash value growth of a life insurance policy is tax-deferred. That means a life insurance policyholder does not pay taxes on the growth of the cash value unless the money is withdrawn. Additionally, a policyholder can take out loans or withdrawals against the cash value to help with various expenses, such as a down payment on a home or a dependent’s college tuition.
American Benefits offers the major life insurance policy plans:
- Term Life, which provides insurance protection for a specific amount of time, such as 10, 15, 20 or 30 years. Ideal to cover short-term needs such as covering college tuition or the cost of buying out a business partner. This is the least expensive of the life insurance plans and can convert to a permanent policy down the road.
- Whole Life, which is designed to remain in effect for the insured’s entire life. This was the first permanent life insurance product and has since been replaced with Universal Life insurance.
- Universal Life, which is similar to Whole Life, but is more flexible and cost-effective. This policy calculates life insurance costs based on life expectancy, averaging the premiums so that individuals pay the same level premium until death. Ideal for long-term needs such as providing replacement income and paying off a mortgage.
- Indexed Universal Life, allows you to participate in market returns without downside risk. This is the #1 selling cash value life product in the market today. If you have a long investment time horizon Indexed UL can help you generate tax deferred and potentially tax free savings while solving your death benefit needs at the same time. Talk to one of our specialists about how Indexed UL can help provide: Replacement Income, College Savings, Retirement Income, Long Term Care benefits, and more.
For business owners, a specialized business life insurance plan is crucial to protect assets, provide a continuation of the business and provide financial security for a business owner’s heirs. American Benefits offers:
- Key-Man Life Insurance. When you have business partners and tragedy strikes, you may just find that you are now in business with your partner’s spouse or kids. The estate needs to cash out their stake in the business and you need viable partners that can help you and the funds to make that all happen. Also, the cost to find highly qualified specialists can be very steep and key man life insurance can provide funds tax free.
- Executive deferred compensation. Setup properly, life insurance can be a useful tool to create a sinking fund for buy-out needs or to supplement retirement income. This is a tool to answer the problem of ‘What if you don’t die?’ . Funding a buyout can be tenuous, complicated, and risky for a retiring partner. Proper planning can solve this.
Call American Benefits today to set up an appointment with one of our trusted insurance advisors to find out how best to protect the financial future of your loved ones.