Life Insurance

The low cost benefit of Life Insurance is typically included with the health insurance purchase at a low cost fee. Most employees expect to receive some form of life insurance with their health insurance. The typical amount employers purchase for their employees is $25,000. Some employers also provide group life insurance based upon the salary one earns.

As an employer, you may also consider purchasing an individual term life policy to cover KEY PEOPLE. This type of insurance protects you and your company if you or a key person in your company passes. This inexpensive insurance protects you, any partners you have and your family. There may also be tax advantages for the company when utilizing a Whole or Universal life policy. Check with your accountant for details.

U-Connect offers life insurance on a group basis as well as for individuals. Whether you are looking to purchase a new company and need a life plan or need replacement income we can help you fulfill your need. If you have family members, a spouse or significant other that depend on your income, then you should think about purchasing life insurance. This provides essential financial protection for those who you care about the most.

The proceeds, or death benefit, from a policy can:

• replace the income lost to your family
• pay off debts and expenses
• fund a favorite charity
• cover final and estate expenses
• provide needed cash to business partners
• Buy-Sell Agreements

Typically, you would purchase a term life policy to benefit those that matter to you most. But this can also benefit you too.

This provides you the peace of mind that comes from knowing you have a sound financial plan in place for your loved ones in the event of your untimely death.

Low costs can negate the need for expensive and inflexible mortgage protection insurance. These plans save you money and protect your investments.

Term Life Insurance

This is the least complicated type you can buy. These insurance rates are also the most affordable. Term life insurance differs from whole, universal, and variable life insurances in that it provides you with coverage for a specific period of time and pays a specific dollar benefit upon death.

Unlike other types, term life insurance has no cash value, savings or investment elements that procure administrative costs and require higher premiums. That’s why a term policy rate is usually lower than other types.

Buy-Sell Agreements – A chief concern of the owners of a closely held business is what would happen to the business if one of the owners could no longer continue. Surviving owners generally want to ensure a continuity of ownership and management without having the departing owner’s successor thrust upon them. Nor do they want to unduly compromise the liquidity of the business by funding a significant buyout. Disabled or deceased owners would want their family members compensated fairly for their share of the business. A properly drafted buy-sell agreement with the proper life insurance funding can do all this for you. U-Connect Insurance will help you pick the plan that is right for you and your company.