Life Insurance can help protect your family and is an excellent way to
accumulate money for college, retirement or unplanned expenses. A person
should have life insurance that approaches six to eight times their annual
gross income. Under current laws, there is generally no federal income tax
on death benefits paid to a named beneficiary.
Using the strength and experience of our life insurance
markets, we offer affordable term life, whole life, and
universal life insurance policies.
Life insurance coverage for a specified length of time.
A term life insurance policy is usually purchased with
a particular need in mind. Beneficiaries will collect,
usually tax free, the face value of the policy upon the
insured (your) death. Term life is attractive for those
with a limited income, high short term insurance
needs, or for personal family protection.
If the insured survives the time period, the policy
expires. There is no cash value at the expiration of a
term life insurance policy. Some policies have a
convertible feature permitting a policyowner to
exchange a term policy for a cash value policy without
evidence of insurability.
Level Term Life Insurance Policy Features
A constant death benefit and a level premium for a
specified number of years. We offer 10, 15, 20, and 30
Decreasing Term Life Insurance Policy Features
Has a decreasing death benefit and a level premium.
Click on the link below to fill out a quote request form for a Term Life
Insurance policy that will provide excellent life insurance coverage at
an affordable cost. Or speak with one of our Personal Insurance
Agent Specialist to discuss the features.
Click on one below to learn more!
The most popular choice for those seeking to cover permanent needs, such as
contributing to a survivor's nest egg, paying off final expenses, etc. Whole life
insurance provides permanent, lifelong insurance coverage. The benefit amount
remains the same and is payable to the beneficiary(s) at the time of the insured's
(your) death. It also offers an opportunity to build cash value, so you can take a
loan on your policy to fund major purchases or to provide for unexpected costs.
Whole life insurance has a fixed premium and a level death benefit to age 100.
The premiums don't increase with age, which averages the cost of the policy
over your life. The cash value increases with time until it equals the death benefit
at age 100. This type of policy never has to be renewed or converted. The cash
value is an amount of money that you are guaranteed to receive in the event of
Variations of Whole Life Insurance include:
Modified Premium - lower fixed premium for the first 3 or 5 years, and then
premiums increase. These policies work well for individuals that expect to
improve their financial condition in the near future.
Graded Premium - premium increases each year for the first 5 years, and
then is fixed.
1. premium costs may make it difficult to buy enough
2. need to carry a whole life policy for a considerable length of time to be very
3. cash value may be less than your face value
4. cannot vary your monthly premium payment and the premium-paying period
may be lengthy
5. amount of coverage cannot be increased at a later date
Advantages of Whole Life Insurance
1. guaranteed protection for life
2. level death benefit that is generally tax-free
3. premiums do not increase in correlation with your age
4. cash may accumulate tax-deferred
Disadvantages of Whole Life Insurance
Click on the link below to fill out a quote request form for a Whole Life Insurance
policy that will provide excellent life insurance coverage at an affordable cost. Or
speak with one of our Personal Insurance Agent Specialist to discuss the
A flexible premium policy that combines protection against premature death with a
savings account that typically earns a money market rate of interest. A universal life
insurance policy is a combination of term life insurance protection with the cash
savings value of whole life insurance. Interest rates paid on the cash value are
typically higher than with whole life insurance because they tend to follow the
Premiums for universal life insurance policies can be paid in a lump sum, annually,
or anywhere in between. Interest on the cash value is usually guaranteed, but will
vary according to the investment performance. Each month deductions are made
from the cash value fund to support the costs of the insurance protection. As long
as the cash value is substantial enough to maintain the monthly costs, the policy
will remain in force. Typically the death benefit reduces in proportion to the increase
in cash value, thus causing a level death benefit.
Answer a few questions and
we will provide you with a
quote by email or phone.
Choose the northern New
Jersey Personal, Employee
Benefit or Commercial
insurance coverage you're
interested in from above.
**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.
Copyright 2006-2010 Your Life Solutions, LLC
All rights reserved
Site Built & Maintained by InsuranceWebsiteServices.com
We are your local northern New Jersey insurance agency, offering affordable life insurance
policy premiums to residents in the following cities and counties: Succasunna, Boonton,
Boonton Township, Brookside, Budd Lake, Butler, Cedar Knolls, Chatham, Chester, Convent
Station, Denville, Dover, Dover Annex, East Hanover, Fayson Lakes, Flanders, Florham
Park, Gillette, Green Village, Greystone Park, Hibernia, High Crest, Ironia, Kenvil, Kinnelon,
Lake Hiawatha, Lake Hopatcong, Lake Intervale, Landing, Ledgewood, Lincoln Park, Lindy
Lake, Long Valley, Lower Montville, Lyonsville, Madison, Mendham, Meriden, Millington,
Mine Hill, Montville, Montville Township, Morris Plains, Morristown, Mount Arlington, Mount
Freedom, Mount Olive, Mount Tabor, Mountain Lakes, Netcong, New Vernon, Parsippany,
Pequannock, Pequannock Township, Picatinny Arsenal, Pine Brook, Pinebrook, Pompton
Junction, Pompton Plains, Powerville, Ralston, Randolph, Riverdale, Rockaway, Rockaway
Valley, Schooleys Mountain, Stirling, Tabor, Taylortown, Towaco, Troy Hills, Wharton,
Whippany, Stanhope, Hopatcong, Espanong, Hurdtown, Cranberry Lake, Andover,
Greendell, Woodport, Springdale, Oak Ridge, Milton, Sparta, Lake Lenape, Newton,
Ogdensburg, Saxton Falls, Johnsonburg, Allamuchy, Vienna, Hackettstown, Beattystown,
Marksboro, Hope, Townsbury, Washington, Newark, Elizabeth, Rahway, Colonia, Iselin,
Avenel, Woodbridge, Port Reading, Carteret, Perth Amboy, Fords, South Amboy, Metuchen,
Plainfield, Dunellen, South Plainfield, Green Brook, Fanwood, North Plainfield, Cranford,
Scotch Plains, Westfield, Union, Millburn, Springfield, Mountainside, Gillette, Warren,
Watchung, Stirling, Millington, Middlesex, Martinsville, Piscataway, Edison, New Brunswick,
Highland Park, Somerset, Milltown, South River, Bound Brook, Somerville, Bridgewater,
Fairview, Ridgefield, Fort Lee, Leonia, Palisades Park, Englewood Cliffs, Englewood,
Bergenfield, Teaneck, Paramus, Bogota, Ridgefield Park, Little Ferry, Hackensack,
Maywood, Teterboro, South Hackensack, Rochelle Park, Moonache, Lodi, Hasbrouck
Heights, Saddle Brook, Garfield, Elmwood Park, Woodridge, Carlstadt, East Rutherford,
Lyndhurst, Rutherford, Wallington, Passaic, Clifton, Paterson, Totowa, West Paterson, Little
Falls, Great Notch, North Caldwell, Cedar Grove, Verona, Montclair, Bloomfield, West
Orange, Glen Ridge, Belleville, Nutley, Kingsland, North Arlington, Kearney, Harrison, East
Orange, East Newark, Orange, Irvington, South Orange, Hillside, Townley, Livingston,
Wayne, Morris County, Sussex County, Somerset County, Pasaic County, Bergen County,
Hunterdon County, Union County, and Warren County, NJ. We also offer life insurance
services throughout the state of New Jersey, including the greater New York City area.
Your Life Solutions