Life Insurance

At Imperio Wealth Advisors we have access to insurance consulting services to help you evaluate risks in a way that fits your needs. We know that you work hard to provide for your loved ones. Therefore, having the right plan for protecting you and them is highly important. The team of highly experienced consultants we work with have decades of expertise in this field, and are able to provide tailored solutions for your individual needs. We will aid in helping you understand the pros and cons of different options to ensure you find the appropriate option for your unique lifestyle.

We can shop for competitive product options on your behalf because our team works for you, not the carriers. We anticipate you will be able to walk away with complete confidence in selecting a risk management solution that meets all your and your family’s needs.

 

FAQs

1. What are the potential benefits of having life insurance? 

   Having life insurance provides several potential benefits for individuals and their families. First and foremost, life insurance can provide financial security for loved ones in the event of the policyholder’s death. The death benefit can help cover funeral costs, outstanding debts, and living expenses. Life insurance can also provide for long-term financial needs, such as mortgage payments or funding a child’s education. Additionally, some types of life insurance, such as permanent policies, can accumulate cash value over time, providing additional financial flexibility or being used as a source of retirement income. Overall, life insurance can provide peace of mind and help ensure that loved ones are protected in the event of the unexpected.

2. How much life insurance do I need? 

   Determining how much life insurance you need depends on various factors, including financial obligations, income, and family situation. A common rule of thumb is having a policy equal to 10-12 times your annual income, but this may vary depending on your specific circumstances. Consider factors such as outstanding debts, such as a mortgage or student loans, and ongoing expenses, such as childcare or education costs. It’s also important to consider how long your loved ones will need financial support in the event of your death. Working with a financial advisor or insurance professional can help you assess your needs and determine an appropriate coverage amount. Regularly reviewing and updating your coverage as your circumstances change can also help ensure adequate protection for yourself and your loved ones.

3. What are the different types of life insurance? 

   Several types of life insurance are available, each with its features, risks, and benefits. One type is term life insurance, which covers a set period, typically 10-30 years. Term life insurance is often the most affordable option, and can be a good choice for those with short-term financial needs, such as paying off a mortgage or funding a child’s education. Another type is permanent life insurance, which covers the policyholder’s entire lifetime and may include a cash value component that can accumulate over time. Within the category of permanent life insurance, there are several sub-types, such as whole life insurance, universal life insurance, and variable life insurance. Each sub-type has unique features and benefits, such as flexible premiums, investment options, and death benefit guarantees. It’s essential to carefully consider your individual needs and goals when choosing a type of life insurance, and to work with a financial advisor or insurance professional to make an informed decision.

4. What are some things to consider when choosing a life insurance policy? 

   There are several important factors to consider when choosing a life insurance policy. First and foremost, consider your financial needs and goals, including any outstanding debts, ongoing expenses, and long-term financial obligations. You should also consider the type of policy that best suits your needs, such as term or permanent life insurance, and whether you require additional features, such as a cash value component, riders for disability and/or critical illness coverage. Another vital factor to consider is the cost of the policy, including premiums and any fees or charges associated with the policy. Finally, choosing a reputable insurance company with a solid financial rating and a history of prompt claims payment is essential. Working with a financial advisor or insurance professional can help you navigate these considerations and choose a policy that meets your unique needs and goals.

All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company.

Variable life insurance is sold by prospectus. Please consider the investment objectives, risks, charges, and expenses before investing. The prospectus, which contains this and other information about the variable life insurance policy and the underlying investment options, can be obtained from your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.  Investing involves risk and the potential to lose principal. 

Some advisers are licensed insurance agents and may be compensated for the sale of insurance-related products through an affiliated insurance agency.