Choosing the right policy
Equitas believes Life Insurance is a cornerstone of any insurance package and the perfect pairing with your Wealth Management, P&C, or Accounting Business. There is an extensive array of coverage types on the market today, not surprisingly the challenge for any insurance agent is to provide customers with a combination of not only effective coverage but attractive pricing.
However more importantly the right product to achieve their goals.
Needs + Future Goals / Budget = "The Right Product"
These challenges are a constant across different ages, income levels, and professions.
The first wave of Baby Boomers has already crossed the threshold of retirement. We also live in an era where three generational households are becoming increasingly common.
Meeting the needs of these separate, yet often intertwining market segments calls for creative solutions and robust market knowledge.
A policy with a set term period (10, 20, 30 years). Once the policy is expired there is no Death Benefit (some policies allow for a conversion to permanent insurance) and there is no Cash Value. Term is the cheapest form of coverage and gives you a lot of "bang for your buck". This is a Risk Protection Product.
Return of Premium Term (ROP) has the same attributes as a term policy. Though higher in cost, this policy returns all of the premiums paid to the insured at the end of the term period. This is also a Risk Protection Product, however premiums returned can be used for retirement income an Annuity, or rolled over into a permanent policy which could satisfy Wealth Preservation needs as well.