Protect What is Most Important to You with Life Insurance
One of the main purposes of Fenton Missouri Life Insurance, as with any insurance, is peace of mind. If your family should suddenly be affected by a tragic event, the beneficiaries named in your policy receives the benefits of the policy. Family income protection is one of the most important needs for life insurance coverage.
We can help.
MJM Insurance® of Fenton offers experienced, licensed, Life Insurance agents to help you through the process of buying life insurance and explaining your options to help you make the best informed decision for the life insurance product that best meets your needs.
Why Fenton Missouri Life Insurance?
- If you have kids, you should have it.
- If you support your spouse, you should have it.
- If you own your own home and have a mortgage, you should have it.
- If you have personal or business loans, you should have it.
- If you think at some point you will need to be in a nursing home.
There are several types of Life Insurance policies; our agents can help you identify what best fits your situation. The coverage that’s right for you depends on your unique circumstances and financial goals. The most popular types of life insurance include term life and permanent coverage.
Fenton Missouri Life Insurance: Term Policy
Term insurance is designed to meet temporary needs, can be inexpensive and is easy to understand. A term insurance policy is good for a specific period of time; that can be one year, 10 years, 20 years or even up to 30 years. If you die during that term, your beneficiaries get a payout, known as the death benefit. Some of our clients with children chose a term policy specifically for coverage until their children graduate from college. Its a scary thought to think something should happen to your or your child, but what if it did? Would your child(ren) be able to finish, or pay for, college? Would they be responsible for your mortgage?
Fenton Missouri Life Insurance: Permanent Coverage
Permanent insurance (also referred to as Universal or Whole Life) provides lifelong protection and never expires. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
Permanent insurance policies have an investment element, meaning that some of the money can be invested in the stock market or taken out as a cash loan, so you still have the option to access the money while you’re still alive. Permanent insurance is an asset that your family can fall back on if something happens to you. There is a choice to receive the money all at once (lump sum) or in installments (annuity).
Fenton Missouri Life Insurance: Use and Benefits
1. Replace income for dependents. If people depend on your income, life insurance can replace that income for them if you die. The most commonly recognized case of this is parents with young children. However, it can also apply to couples in which the survivor would be financially stricken by the income lost through the death of a partner, and to dependent adults, such as parents, siblings or adult children who continue to rely on you financially.
2. Pay final expenses. Life insurance can pay your funeral and burial costs, probate and other estate administration costs, debts and medical expenses not covered by health insurance.
3. Create an inheritance for your heirs. Even if you have no other assets to pass to your heirs, you can create an inheritance by buying a life insurance policy and naming them as beneficiaries.
4. Pay federal “death” taxes and state “death” taxes. With the return of the estate tax in 2011, the stepped-up basis on inherited property also returned. This means that an asset’s basis is its fair market value on the day of the original owner’s death. More information can be found on IRS.gov.
5. Make significant charitable contributions. By making a charity the beneficiary of your life insurance, you can make a much larger contribution than if you donated the cash equivalent of the policy’s premiums.
6. Create a source of savings. Some types of life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn on the owner’s request. Since most people make paying their life insurance policy premiums a high priority, buying a cash-value type policy can create a kind of “forced” savings plan. Furthermore, the interest credited is tax deferred (and tax exempt if the money is paid as a death claim).
Why Choose MJM Insurance® of Fenton?
We’re committed to outstanding customer service
We start by offering the best insurance products at a reasonable price. But it’s the MJM Insurance® of Fenton team that really set us apart from the competition. With combined experience of 60 years, our sales and support staff members can handle your transactions quickly and efficiently. We service each and every account using out team of insurance professionals and we’re always available to answer your questions.
We’re committed to professionalism
Our dedication to client service comes from a culture of professionalism and respect. All of our associates at MJM Insurance® of Fenton have strong credentials and all of our policies are presented to you in a consistent and professional manner.
We’re committed to solving problems quickly
MJM Insurance® of Fenton has unique industry relationships, allowing us to provide exclusive insurance solutions to our customers. Additionally, every staff member is trained to actively listen and provide helpful answers presented in a way in which our policy holders clearly understand.
We’re committed to earning and maintaining your trust
We believe trust is something earned by listening to our customers while providing helpful advice and support. Trust and consistent underwriting practices is what we expect from our carrier partners, and in return we owe the same level of service to you.