Life insurance gives you the peace of mind you only get from knowing that you've protected your loved ones.

In the event of your passing, life insurance provides money directly to your beneficiaries. They can use the money for whatever they want, such as:

·         Make up for your lost income

·         Fund your child's education

·         Paying off household debt

·         Paying for your funeral and other related expenses

In addition, Permanent Life Insurance offers a cash value component which can be put to good use during your lifetime.¹

If you want life insurance for a limited time — long enough to meet your anticipated responsibilities to those who depend on you, but not longer — Term Life Insurance may be right for you.

If you value added security, flexibility, cash value and lifetime coverage, some form of Permanent Life Insurance may be right for you.

Term Life Basics

·         Provides coverage for a specified period

·         Easy to understand

·         Affordable way to get maximum coverage

·         Becomes expensive after the specified period

·         You build no equity

Permanent Life Basics

·         Protection for your whole life, as long as sufficient premiums are paid

·         Can build equity in the form of a cash value

·         Offers flexibility and many options to choose from

·         Initially higher premiums than Term, but generally more cost-effective in the long run

Term and Permanent Life Together

Don't think that you're limited to one or the other; you may find that a combination of Term and Permanent Life meets your needs best.

For example, the foundation of your life insurance plan could be Permanent Life, supplemented by Term Life during your family-building, mortgage-paying years when coverage needs are typically higher.

Term Life Insurance

Term Life Insurance provides a cost-effective solution for your temporary life insurance needs and gives you the flexibility to change your policy should your temporary needs turn into permanent goals.

Term Life Insurance is right for you if you want:

·         An affordable way to get maximum coverage

·         To cover specific financial responsibilities like a mortgage or college expenses

·         To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-growing, mortgage-paying years

Some things to consider about Term Life Insurance:

·         There is no cash value accumulation

·         Continuing your coverage after the initial level premium-paying term expires can be very expensive

Getting the right coverage starts with knowing how much you need. For most people, our quick and easy Life Insurance Calculator can provide a good estimate:

·         Tell us a little about yourself

·         Provide some quick info on income, debts and assets

·         Get an instant estimate of how much coverage you need

Revisit your coverage if your needs change and talk to a professional about specific concerns like a special needs child.

Whole Life Insurance

Whole Life Insurance is the simplest form of permanent life insurance. It features lifelong protection with guaranteed premiums, death benefit, and cash value.

Whole Life Insurance protects you for your entire life unless you cancel the policy.

Whole Life Insurance can be right for you if you want:

·         Fixed premiums that will not increase

·         A guaranteed death benefit payout

·         Cash value that is guaranteed to grow each year - tax-deferred

·         Dividends that can be used to increase the value of the policy

Some things to consider about Whole Life Insurance:

·         Premiums are initially more costly than Term Life, but are guaranteed not to increase

·         Dividends are not guaranteed

·         Loans and withdrawals can reduce the death benefit payout

I can help you determine whether Whole Life Insurance makes sense for you and your family.

Universal Life Insurance

Universal Life Insurance is a form of permanent life insurance. It can provide affordable guaranteed protection and flexibility.

A Universal Life insurance policy provides flexibility that allows you to change, within limits, the death benefit and the timing and amount of your premium. You can build your policy's cash value, or pay a lower premium and focus more on guaranteed protection.

Universal Life insurance can be right for you if you want:

·         Protection that can last a lifetime

·         The flexibility to choose between two policy designs:

o    Protection plus cash accumulation, or

o    Focus on affordable guaranteed protection

·         An option for a lifetime of guaranteed monthly income for your beneficiaries

Some things to consider about Universal Life Insurance:

·         Cash value growth is based on periodically-declared fixed interest rates. Should rates fall, cash accumulation could suffer, and higher premiums may be needed

·         Changing your policy's premium or death benefit can affect your policy's performance and guarantees, possibly requiring higher premiums later.

I can help you determine whether Universal Life insurance makes sense for you and your family.

¹ Cash values can be accessed through loans and/or withdrawals, but these will reduce the death benefit. In addition, withdrawals from some policies may be subject to surrender charges and could have a permanent effect on the cash value and the death benefit. 

Contact Gino P. Molettieri today at 781-942-5000 x144

Guarantees apply to certain insurance and annuity products (not securities, variable or investment advisory products) and are subject to product terms, exclusions and limitations and the insurer’s claims-paying ability and financial strength.

 
Neither New England Securities/Baystate Financial Group nor its representatives offer tax or legal advice. Please consult your tax advisor or attorney for guidance.

 
Please note that Investment and Insurance Products are: not FDIC insured, not bank guaranteed, may lose value, and not insured by any Federal Government Agency. Securities products and financial planning services are offered through registered representatives and financial planners, respectively, of New England Securities Corp.(NES), a broker-dealer (member FINRA/SIPC) and a Registered Investment Adviser.  Baystate Financial Services is a general agency of New England Life Insurance Company,(NELICO), Boston, MA. NES & NELICO are affiliates. Neither Baystate Financial Services nor Reading Co-Operative Bank are affiliated with NES. Securities and variable products are only offered at 180 Haven St., Reading, MA 01867. 

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