Life Insurance

Life Insurance Options

Life Insurance is a necessity in protecting your family and loved ones in case tragedy strikes.   Spracklen Insurance offers Life Insurance coverage through Kansas City Life and Broker’s Clearing House. Through these groups we are able to provide coverage for all of our customers life insurance needs.  Protect you and your loved ones by discovering the right plan for you. Find out more information about coverage options by Kansas City Life and Broker’s Clearing House below.

Kansas City Life

Spracklen Insurance services life insurance policies through Kansas City Life; these policies include, Term Life, Return of Premium Life, Universal Life, Indexed Universal Life, Whole Life, and Annuities. In order to understand Kansas City Life’s coverage options more thoroughly, we encourage you to review a brief description of each.

 

Term Life Insurance

According to Kansas City Life, Term Life insurance provides protection for a specific period of time, or “term” and pays a benefit if you die during the term. If the insured lives past the term period most term policies will terminate. With Kansas City Life term policies, the policyholder can choose to continue the policy at a higher premium or the insured may apply for another term or permanent policy. Key benefits of Term Life Insurance are, death benefit protection, income protection, business insurance needs, tax advantages, conversion options, and policies are customizable.

 

Return of Premium Life

Return of Premium (ROP) life insurance policies allow you many options you won’t find with traditional term life insurance policies. Although term life insurance is considered the lowest cost life insurance, many consumers are not comfortable spending the money because they could outlive the coverage. With a ROP life insurance policy, you can provide solid life insurance protection for your family with a guaranteed death benefit that gives you something tangible back – the return of all eligible premiums paid – when the level term period is up. Benefits of the Return of Premium Life policy include, guaranteed premium, builds cash value, tax advantages, favorable loan feature, conversion options, non-forfeiture provisions, and plans are customizable.


Universal Life

 

You want insurance that gives you options such as flexible premiums and adjustable coverage while providing the security you need. A Universal Life (UL) product might be just what you are looking for. Your UL policy will provide security today with the cash value growth potential you need for tomorrow. Benefits of a Universal Life policy are premium flexibility, death benefit flexibility, builds cash value, tax advantages, favorable loan feature, and plans are customizable.

 

Indexed Universal Life

If you’re looking for a product that offers death benefit protection and the opportunity to build long-term cash value accumulation, an Indexed Universal Life (IUL) may fit your needs. An IUL policy will provide security today with the cash value growth potential you need for tomorrow. Benefits of a Universal Life policy are premium flexibility, death benefit flexibility, builds cash value, tax advantages, favorable loan feature, and plans are customizable.

 

Whole Life

 

Whole Life insurance is a permanent life insurance policy that offers a guaranteed death benefit and builds guaranteed cash values that can be accessed through tax-advantaged policy loans. You select the amount of coverage that fits your needs. Your premiums on your Whole Life policy will be guaranteed for the life of the policy. The death benefit of the policy is guaranteed and does not reduce as long as you pay the basic premium. Cash values within the policy are guaranteed to increase and endow at the maturity of the policy.  Benefits of a Whole Life policy include, guaranteed premiums, guaranteed death benefit, builds guaranteed cash value, tax advantages, favorable loan feature, and plans are customizable.

 

Annuities (Fixed and Variable)
A Fixed Annuity contract guarantees a minimum rate of interest; however, Kansas City Life Insurance Company can, and often does, credit a rate that is higher than the guarantee. Many annuities offer the ability to make on-going premium deposits.  Annuity contracts also offer a variety of payout options that can be chosen when you are ready to begin receiving these payments. Moreover, a Fixed Annuity allows you the option to receive a lifetime income stream.  An annuity also offers beneficiary options so you can determine who will receive your funds upon your death. Benefits of a fixed annuity include safety, tax deferral, competitive interest rates, no up-front costs, and the ability to customize. Kansas City Life also offers Variable Annuities which are savings vehicles that help accumulate assets for future needs. A Variable Annuity allows you to decide how to invest your money by allowing you to choose from a variety of investments within the annuity contract. Benefits of Variable Annuities are growth potential, tax deferrals, no up-front costs, and the ability to customize.

Broker’s Clearing House Life Insurance

Broker’s Clearing House Life Insurance is a life insurance brokerage we utilize to gain access to many of the world’s leading life insurance products and carriers. Policies we offer through Broker’s Clearing House include:

  • Impaired Risk
  • Term Life
  • Indexed Universal Life
  • Universal Life
  • Variable Universal Life
  • Whole Life
  • Life/LTC Combo Products (Linked Benefits)
  • COLI/BOLI
  • Survivorship Life
  • Single Premium Life
  • Simplified Issue Life
  • Guaranteed Issue Life
  • Final Expense
  • Accidental Death (Individual/Family)

To find out more about each of these policies and to figure out what is best for you, contact a Spracklen agent today.