Life insurance is a difficult topic for many of our clients. No one wants to think about what will happen to their loved ones when they are gone. Life insurance, however, gives your family time to grieve and plan without financial worry.
At Nunes Partners, we provide custom healthcare and financial solutions that make sense with your life. Our life insurance plans offer additional benefits to you and your family while you’re living, so that you can be prepared for anything life throws at you. We work with the top nationwide carriers to provide a variety of term and permanent insurance options and will make the process of purchasing life insurance simple and straightforward.
Nunes Partners offers a unique life insurance policy called indexed universal life, or IUL. Benefits of IUL include a death benefit payout, like all life insurance policies, but you also have the option to accelerate your benefits in case of a serious illness, such as cancer. IULs can be used as a tax-free retirement account or even to save for your children’s college. It’s life insurance you don’t have to die to use!
IUL death benefits are similar to those of other life insurance policies. You will work with your insurer or broker to choose a policy size that fits with the needs of your family and your monthly budget. You will pay the monthly premium over the course of your life, and your beneficiaries will receive a payout equal to the policy when you die.
IUL living benefits can be accessed after a triggering condition occurs. Triggering conditions can include a cancer diagnosis, stroke, heart failure, blindness, and many other diagnoses. After a triggering condition, you file a claim with your life insurance provider, and they will offer an acceleration of your death benefit.
The more severe your diagnosis is, the higher the offer will be. If you accept the entire offer, your policy will be depleted and you will no longer have a death benefit. You can also choose to accept a percentage of the offer. The living benefit payout will be deposited in your account as tax-free income, and you can use the funds to seek the best treatment for your diagnosis, to pay bills while you’re out of work, or however else you see fit.
IUL is a type of permanent life insurance, so it stays in effect as long as you continue to pay your premium. With an IUL, part of your monthly premium goes into a cash value account with compound interest. As this account grows, you can borrow against the money in your account or take cash withdrawals. At 65, you can use your cash value account as a stream of tax-free retirement income. Since IULs are linked to a stock market index, they will grow more quickly than a standard savings account, while still being protected from crashes.
Our mission at Nunes Partners is to provide customizable healthcare packages to protect you and your family from unexpected illnesses and injuries, but we want to ensure that your financial future is secure as well. We believe that buying IUL insurance is one of the best ways to prepare for retirement, protect yourself in the event of a critical illness, and provide for your family when you’re gone.
We’ll take the guesswork out of buying life insurance by providing options that fit your budget and needs. Then we can complete the enrollment process with you, so that you can rest easy, knowing that your family and future are secure. Contact us today to receive a quote and start the enrollment process.
