Ragan Financial Group

Ragan Financial Group

Call us at 815-623-8817 so we can pick a time to visit and discuss your current retirement plan and financial goals.

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Financial Protection: Life INsurance
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READ OUR LIFE INSURANCE GUIDE

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Life Insurance Overview

We all can agree that planning for the financial well being of our families is certainly a subject we should give some serious thought to.  And that’s the purpose of the following information – a serious though not complicated look at “the truth about life insurance” and why it’s important to you. 

First of all, let’s get one simple truth out of the way right now … it’s not a pleasant thought, but it is a necessary one:  Life insurance is about what a person is going to leave to his or her heirs after he or she dies (and that “what” means m-o-n-e-y).  But, life insurance can be much more than that; in fact, life insurance can be a way to build up a personal fund that you may use yourself BEFORE you die.

Buying life insurance can be very confusing because, today, you have so many choices.  If you’ve ever thought about “What is the best type of life insurance to own,” the simple and best answer is “The type of life insurance that is in force on the day your heirs need it!”  That may sound like some salesperson’s quick retort, but it is really The Truth!  

However, most Americans have many, many other questions bouncing around in their minds when they get around to giving serious thought to buying life insurance. Here are a few of those important questions:
  • “Which type of policy should I buy?”
  • “How much coverage do I need?”
  • “How long will I need that coverage for?”
  • “How much will I be able to afford to spend on life insurance?”

Learn about Joint Life Insurance

What is Term Life Insurance?

It should come as no surprise to you that “term” life insurance involves “time,” that it pays a death benefit to your heirs only if you (the insured) die during a specified period. 

Types include:
  • Level Term
  • Decreasing Term
  • Renewable Term
  • Convertible Term
  • Group Term

What is permanent life insurance?

Permanent Life Insurance provides you with coverage throughout your entire lifetime, and it may include a way for you to build “cash value" in your policy.  

Types include:
  • Traditional Whole Life Insurance
  • Universal Life Insurance
  • Variable Life Insurance
  • Indexed Universal Life Insurance:
  • Variable Universal Life Insurance:
  • Last Survivor Universal Life Insurance:
  • Single Premium Life Insurance:

Need help deciding which life insurance policy best fits your needs?

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MORE PROTECTION TOPICS

Long Term Care
Wealth Transfer

Read our Life Insurance Guide

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LIFE INSURANCE 101
Download Guide

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Everyone’s financial situation is unique and there is NOT a one-size fits all retirement plan. Ask us questions and get real answers. ​
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Contact Us:

Ragan Financial Group
7042 Kinnikinnick Dr
Roscoe, IL 61073
815-623-8817

Office Hours:
Mon-Sat: 8:00 AM - 5:00 PM​

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DISCLAIMER:
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax, legal, or investment advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Ragan Financial Group is not responsible for any independent decisions made from information found on this website or links provided to external websites. You need to conduct your own research and consult with a representative of Ragan Finanicial Group or your own financial professional about your personal situation before making any financial decisions.

INFORMATION CONCERNING COPYRIGHT INFRINGEMENT CLAIMS:
Ragan Finanicial Group provides links from its website to various third party sites which may enable you to obtain locations and information outside of our control. Ragan Finanicial Group neither controls nor endorses such other websites, nor have we reviewed or approved any content appearing on them. Ragan Finanicial Group does not assume any responsibility or liability for any materials available at these websites, or for the completeness, availability, accuracy, legality or decency of these sites

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