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Life Insurance

Overview

Finding the right Life Insurance products can be challenging in today’s insurance environment. Anacapa Insurance Services offers a complete line of individual life insurance products that are crafted to meet you and your family’s specific needs. We work with several different top-rated insurance companies, and will place your account with the company that will provide you with the coverage and benefits you want.

Anacapa Insurance Services can help you make sound, informed decisions about issues affecting your life, health and insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace-of-mind.

Term Life Insurance

Life insurance from Anacapa Insurance Services can help you secure your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.

Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 20 years. Other policy life periods are available, including 1 year annual renewable term.

Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.

Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.

Mortgage Protection Insurance

For most homeowners, the mortgage is the single largest source of personal debt. Mortgage protection insurance is a specialized life insurance policy designed to pay off that debt in the event of your death.

Imagine the worst case scenario. A fatal accident today would force your loved ones to immediately experience financial hardship. On top of your final expenses, the mortgage is due, but your family has no way to pay it without your income. They haven’t even had enough time to grieve and now they have to deal with the impending tragedy of foreclosure.

Like most life insurance, mortgage protection insurance eases the financial burden of your loved ones. It is an affordable way of ensuring that your home is paid for no matter the circumstances. Cancer, stroke, heart attack, injury, death… your family will never be in jeopardy of losing its home as long as you put a custom mortgage protection insurance plan in place.

No Medical Exam Life Insurance

Anacapa Insurance Services offers NonMed life insurance programs through a variety of top-rated carriers, depending upon your level of health. Most applicants may be able to obtain up to $250,000 in life insurance at standard rates just by filling out a short medical questionnaire without having to undergo a medical exam or submit medical records. Quick and easy!

For those with severely impaired health, we work with several high-risk companies that are able to offer up to $25,000 in life insurance with just a very brief and basic phone interview. Contact us today for details!

Permanent Insurance

Whole Life Insurance
A form of permanent life insurance, whole life insurance features guaranteed premiums, guaranteed death benefits, and guaranteed cash value. Whole life insurance policies also give you the potential to receive dividends, which can increase the value of the policy when the insured is living or provide an increased death benefit for your beneficiaries.

Universal Life Insurance
Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments – i.e., the more you pay, the less time you will need to pay. Your premiums cover the insurance expense as well as the savings or investment element. The stated interest on the investment portion changes along with movement in interest rates as banks and other financial institutions make similar moves.

Indexed Universal Life Insurance
If you’re looking for a life insurance policy that offers a death benefit with cash value accumulation potential and protection against market-based losses, Indexed Universal Life Insurance (IUL) may be an option to consider. IUL is a type of permanent life insurance that offers two interest crediting options: 1) a guaranteed fixed rate of interest, and 2) interest based on the performance of an outside index, such as the Standard and Poor’s 500® (S&P 500®). A cap is typically placed on the credited rate of interest such as 14%, and a minimum 0% floor helps guard against market-based losses.

** These products are continually changing, and we can provide you with the latest information and policies available!

Both loans and withdrawals from a permanent life insurance policy may be subject to penalties and fees and, along with any accrued loan interest, will reduce the policy’s account value and death benefit. Assuming a policy is not a Modified Endowment Contract (MEC), withdrawals are taxed only to the extent that they exceed the policyowner’s cost basis in the policy and usually loans are free from current federal taxation. A policy loan could result in tax consequences if the policy lapses or is surrendered while a loan is outstanding. Distributions from MECs are subject to federal income tax to the extent of the gain in the policy and taxable distributions are subject to a 10% additional tax prior to age 59½, with certain exceptions. Indexed universal life insurance policies contain fees and expenses, including cost of insurance, administrative fees, premium loads, surrender charges and other charges or fees that will impact policy values.