At LifeServ Partners we specialize in the sale and service of life insurance policies combined with complex underwriting. We recognize complex business and personal situations in our underwriting process and all circumstances are reflected in our results. Our goal is to create a comprehensive plan that provides your clients with the best possible coverage for their needs.
Our expert staff specializes in advanced underwriting for multiple types of life insurance services. This process involves integrating the complicated insurance subjects of taxation, estate planning, business insurance and employee benefit plans.
Our process is both efficient and effective, allowing you to focus on what you do best - manage your business - so you can return your day-to-day business activities as quickly as possible. With a LifeServ Partnership, your business will not miss a beat because your clients do not have proper coverage, all the while earning commission as an extension of an expert team.
The life insurance products offered by LifeServ include:
TERM LIFE INSURANCE
Term Life Insurance truly is the original form of life insurance and is typically considered its simplest form. It provides coverage at a specified premium for a stated time period or term. Since term insurance is a death benefit, its primary use is to provide coverage of financial responsibilities for the beneficiaries of the insured. Based on the length of time, term life insurance is generally less expensive than a permanent life insurance policy, making it more popular. For example, individuals typically purchase term life insurance for a duration up to retirement age, assuming that they would have built a large enough retirement fund that would satisfy the needs of their beneficiaries.UNIVERSAL LIFE INSURANCE
Universal life insurance is a permanent policy that offers death benefit protection but also has a savings element that earns interest. This investment can then provide a cash value build up. Every month, various deductions, such as a charge for insurance protection, are made from the account value. The death benefit, savings element, and premiums can all be reviewed over time and altered to meet the policy owner’s needs if desired. Unlike Whole Life Insurance, a Universal Life policyholder can use the interest from the accumulated savings to help pay premiums. Universal Life was built to give the policy owner more flexibility.INDEXED UNIVERSAL LIFE INSURANCE
Indexed Universal Life is very similar to traditional Universal Life, however instead of a declared interest rate the actual rate earned is tied to a stock market index. Typically, a minimum guaranteed fixed interest rate is provided. This “floor” protects the policyholder against aggressive stock market declines. At the same time, Indexed Universal Life Insurance can provide higher growth potential.
WHOLE LIFE INSURANCE
Similar to Universal Life Insurance, Whole Life also has a savings element that builds over time and can be used in wealth accumulation. The savings component accumulates a cash value that the policyholder can withdraw or borrow against at any time while the insurance element (and the remaining savings balance) pays a stated amount upon death of the insured. Regular fixed premiums both pay insurance costs and allow equity to build in the saving account. Whole Life Insurance has less flexibility than Universal Life in that premiums and the death benefit are fixed amounts.