Life Insurance
Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person.
Here is what this insurance can be used for:
- To pay final expenses
- Guarantee an income for loved ones left behind
- Provide funds for a business to continue in the event of a Key Employee's death
Types of plans available:
- Term Life
- Universal Life
- Indexed Universal Life
- Single Premium Whole Life
Want to know more?
Annuities
An annuity is a contract between yourself and a life insurance company in which you agree to pay a premium payment(s) to the issuing insurance company in return for a guaranteed payment(s) at a future date or over a period of time.
A fixed annuity earns a fixed interest rate on your premium. This amount is declared by the insurance company and can change over time and includes a guaranteed minimum interest rate that the contract will earn.
Additional benefits offered by fixed annuities include:
- Tax-deferred growth
- Guarantees to your principal
- The option to take a lifetime income stream
- Avoiding probate with a properly named beneficiary other than your estate
Need Help with Enrollment or Want To Make a Change?
Kluge Insurance Group can assist with open enrollments, help make changes, or provide you with answers regarding your Pennie account.