Services
Life Insurance
Safeguard Your Loved Ones’ Tomorrow, Today.
In the journey of life, securing the well-being of our loved ones is paramount. Ascension Financial’s Life Insurance solutions are designed with this core principle in mind, offering you peace of mind in knowing that your family’s future is protected. Our comprehensive range of life insurance options ensures that no matter where you are in life’s journey, we have a plan that can be tailored to meet your specific needs and goals. With expert guidance and personalized advice, we help you navigate the complexities of life insurance, making it simple to provide security for those who matter most to you. Choose Ascension Financial to be your partner in leaving a lasting legacy of care and financial security.
Securing Your Legacy:
The Benefits of Life Insurance
Life insurance stands as a pillar of financial planning, offering unmatched peace of mind and security for your future and the well-being of your loved ones. It’s not just about leaving a legacy; it’s about providing for your family’s needs, settling debts, and ensuring a stable future, even in your absence. With life insurance from Ascension Financial, you empower yourself and your family to face the future with confidence, knowing that you’ve taken steps to protect and preserve their financial security.
Financial Protection for Dependents
Life insurance serves as a cornerstone for protecting your loved ones' future. It delivers financial security to your dependents, ensuring they can maintain their standard of living in the event of your unexpected departure. The policy's death benefit aids in covering essential expenses like mortgage payments, education costs, and daily living needs, ensuring your family's financial stability.
Debt Repayment and Income Replacement
Beyond daily expenses, life insurance addresses larger financial obligations. It can be utilized to settle outstanding debts — including mortgages, car loans, and credit cards — preventing these financial burdens from falling on your loved ones. Additionally, if your family depends on your income, life insurance becomes indispensable, replacing your earnings and securing their financial future.
Education Funding and Estate Planning
A life insurance policy can also serve as an educational fund, ensuring your children or dependents can afford tuition and related expenses. Furthermore, it plays a significant role in estate planning, offering the liquidity needed to cover estate taxes and ensuring your assets are distributed according to your wishes, thereby relieving your heirs from potential financial strain.
Business Succession and Peace of Mind
For business owners, life insurance is vital for succession planning. It funds buy-sell agreements and ensures the business transitions smoothly without financial hiccups. Importantly, having life insurance provides you with peace of mind, allowing you to live freely, knowing your loved ones' financial well-being is secured.
Final Expenses and Supplemental Income
Life insurance covers funeral and final expenses, alleviating financial stress during challenging times. Certain policies, such as those with cash value, offer additional benefits, including the potential for supplemental retirement income and emergency funds, enhancing your financial flexibility.
Life insurance stands as a pillar of financial planning, offering unmatched peace of mind and security for your future and the well-being of your loved ones. It’s not just about leaving a legacy; it’s about providing for your family’s needs, settling debts, and ensuring a stable future, even in your absence. With life insurance from Ascension Financial, you empower yourself and your family to face the future with confidence, knowing that you’ve taken steps to protect and preserve their financial security.
TYPES OF LIFE INSURANCE
Term Life Insurance
Provides coverage for a specified term, such as 10, 20, or 30 years. If the policyholder dies during the term, the death benefit is paid to the beneficiaries.
• Typically more affordable than permanent life insurance.
• Pure death benefit without cash value accumulation.
Whole Life Insurance
Provides coverage for the entire life of the policyholder. It includes a cash value component that grows over time, and the policy remains in force as long as premiums are paid.
• Cash value accumulation with a guaranteed interest rate.
• Premiums are generally higher than term life insurance.
Universal Life Insurance
Offers more flexibility than whole life insurance. Policyholders can adjust the death benefit, premium payments, and the cash value investment component.
• Adjustable death benefit and premiums.
• Cash value can earn interest based on market performance.
Variable Life Insurance
Combines a death benefit with an investment component. Policyholders can invest the cash value in a variety of investment options, such as stocks and bonds.
• Potential for higher returns based on investment performance.
• Policy values can fluctuate with the market.
Variable Universal Life Insurance
Offers the flexibility of universal life insurance with the investment options of variable life insurance. Policyholders can adjust premiums, death benefits, and investments.
• Flexibility in adjusting death benefit, premiums, and investment options.
• Policy values are subject to market fluctuations.
Survivorship Life Insurance
Covers two individuals (usually spouses) under one policy, paying out the death benefit upon the death of the second insured. Often used for estate planning purposes.
• Premiums are generally lower than individual policies.
• Commonly used for wealth transfer and estate tax planning.
Final Expense Insurance
A type of whole life insurance designed to cover funeral and burial expenses. Typically has a lower death benefit compared to other types of life insurance.
• Smaller death benefit for specific end-of-life expenses.
• Simplified underwriting, making it easier for older individuals to obtain coverage.
Guaranteed Issue Life Insurance
No medical underwriting is required, making it available to individuals with health issues. Coverage is typically limited, and premiums are higher.
• Guaranteed acceptance regardless of health.
Limited coverage amounts and higher premiums.
