LIFE INSURANCE
Life insurance is a contract between an insurance policy holder and an insurer or assurer. The insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum.
Some of the most common types of life insurance policies are:
Term Life Insurance which provides protection to the owner for a specific period of time. A traditional term insurance policy, the premium amount stays the same over the course of the coverage period. Continued coverage may be offered after the term is over but generally at a higher premium rate.
Term life policies can be used to replace lost income during working years, providing a safety net for you and your family. This type of life insurance is generally less expensive than other life insurances.
Universal Life Insurance is permanent life insurance providing lifetime coverage. Premium payment amounts or coverage over your lifetime may be raised or lowered depending on the Universal life policy.
Universal life insurance is a great mechanism used in estate planning strategies to help preserve wealth transference to beneficiaries. It can be used for long-term income replacement in situations where additional income is needed.
Whole Life Insurance is permanent life insurance providing lifetime coverage. Whole life insurance premium payments generally stay fixed over the lifetime of the policy.
Whole life insurance is another great mechanism used in estate planning strategies to help preserve wealth transference to beneficiaries. It also can be used for long-term income replacement just like Universal life insurance.
Insurance and annuities offered through Vicki Joern, TX License #1081644 and/or Karl Joern, TX License #1998944. Bee Financial Partners, LLC. is an Investment
Advisory practice that offers products and services through Impact Partnership Wealth, LLC (IPW), a Registered Investment Adviser. IPW does not offer insurance products.
The insurance products offered by Vicki or Karl Joern are not subject to Investment Advisor requirements. Bee Financial Partners, LLC. is not affiliated with the U.S. government
or any governmental agency.
No information or material presented on this website is intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Impact Partnership Wealth offers a broad range of investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary which can also be accessed here on this website, https://impactpartnershipwealth.com/wp-content/uploads/2021/06/Impact-Form-CRS.pdf.
Insurance and annuities are offered through Vicki Joern, TX License #1081644 and/or Karl Joern, TX License #1998944.
Please be advised that the securities advice offered, securities transactions conducted and assets under management services rendered by Impact Partnership Wealth, LLC are not: