MK Life Solutions offers multiple products to fit your insurance and planning needs.
Like a bodyguard you hope you never have to use, the sole purpose of term life insurance is to protect your family or beneficiaries in case you were to die unexpectedly, helping to relieve the sudden loss of income, cover funeral costs, outstanding debts and more.
If you're looking for some basic protection, term may be the way to go. Pay your premium over whatever term you choose (often 10, 20, or 30 years) and in return you'll receive death benefit protection. Once the term is up, the policy is terminated. The bodyguard calls it a day.
The amount of death benefit your beneficiaries receive will depend on how much you purchase. Your financial professional can help you determine how much death benefit you need.
Term can help you prepare financially for the chance of being diagnosed with a serious illness.
In addition to offering death benefit protection, some term products may also include accelerated death benefits. These benefits allow the policyowner to access the death benefit while living.
Term is usually the most affordable type of life insurance, often compared to the cost of a couple cups of coffee - which is much more affordable than a personal bodyguard.
Universal life insurance can provide coverage for your entire lifetime. It offers you the flexibility to pay your premiums at any time and in any amount (subject to some limits), as long as the policy expenses and cost of coverage are met. Universal life policies also have cash value that can accumulate at a fixed interest rate, which you’re able to access through policy loans and withdrawals.
Fixed index universal life (FIUL) insurance also provides death benefit protection, but it has the potential to accumulate cash value based on positive changes in an external market index or a fixed interest allocation. That gives it the opportunity for greater accumulation potential than traditional universal life insurance; and the built-in annual floor ensures that the cash value will not decrease due to market volatility. With FIUL, the cash value is not directly invested in the market.
Other types of permanent life insurance policies, including variable life and variable universal life insurance, are available in the marketplace. Contact your financial professional for more information. The graph below represents the accumulation potential of fixed products only.
Thinking about the expenses left behind when we die can be uncomfortable, but not planning ahead may leave your family owing thousands of dollars. Final Expense Life Insurance is an economical way to help cover funeral costs and other expenses to ensure there will not be a significant financial hardship on your loved ones.
Policy Features:
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Buying an annuity is one way to help build your retirement assets. Annuities offer principal protection and potential interest to help you accumulate money for your retirement. The money in your annuity can
grow tax-deferred, which may help your savings accumulate faster.
Annuities also offer valuable guarantees and death benefit protection. If you surrender your contract, you’ll receive at least a guaranteed minimum value. And because annuities are insurance products, they
can give you the reassurance of knowing that your beneficiaries will get a death benefit if you pass away
before you start receiving annuity payments.
Finally, annuities give you several income options once you’re ready: You can receive income as a single
payment, as regular payments over a specific period of time, or even as income for life. These are just a few of the reasons why many people rely on annuities to help them achieve their long-term financial goals.