What is Permanent Life Insurance?
A signature policy provided by Mark Deaton, permanent life insurance is a policy that provides income to your family after you pass away. It protects your family by allowing them to maintain the lifestyle you worked hard to provide and can pass income along to your children or grandchildren. Unlike term life insurance, permanent life insurance policies do not expire and combines a death benefit with a savings portion. This savings portion builds a cash value from which the policy holder can borrow funds. In addition to helping your family, a key benefit of permanent life insurance is favorable tax treatment, with no taxes paid on earnings within the policy as long as it remains active.
Who Needs Permanent Life Insurance?
Everyone wants to be able to provide financial security for their family when they are gone, makes permanent life insurance beneficial for all families. In the event of your passing, your family may be left to pay for college funds or a mortgage. However, permanent life insurance can ease this financial burden during a hard time. Additionally, permanent life insurance is ideal for those who want to replace lost income, provide a donation to a charity or special interest, supplement an estate, or mitigate estate taxes.
What Permanent Life Insurance Options Do I Have with Mark Deaton?
A permanent life insurance policy with Mark Deaton ensures your policy is flexible to fit your needs:
Limited Pay Whole Life – Our flagship policy for maximum flexibility. You choose how many years to pay premiums, with a five-year minimum payment period. Selected when you apply, the payment period is fixed and guaranteed…precise and perfect for just about any life insurance planning need, even up to and through your retirement years.
Single Premium Whole Life – Secure protection and start your legacy with one, single payment.
Graded Death Benefit – This specialty option allows a guaranteed issue final expenses product. No underwriting.
Protector NLG Universal Life insurance – provides affordable guaranteed lifetime coverage*, flexible premium payment options and a low-cost guaranteed death benefit* that will ensure future obligations are met. The benefit protection includes a Lapse Protection Rider, as well.
Survivorship Universal Life – A policy that insures two lives, has flexible premium payments and pays at the death of the second insured. Often used by couples for estate planning, estate conservation or estate equalization.
*Guarantees of the policy are based on the claims-paying ability of the issuer. Accessing the cash value of the policy will reduce the total cash value of the policy and total death benefit. Guarantees assume all premiums are timely paid and cash value of the policy has not been accessed. This release provides only a summary of the available product features and options, which may vary by state. Actual product details, including all terms and conditions that apply, are contained in each contract.
Beneficiary options with Mark’s permanent life insurance policies allow you to decide whom your death benefit goes to. This could be a trust, a spouse, children, family, or even a charity. As an added benefit, you may have more than one beneficiary, with the proceeds being divided proportionally.
Additional Features and Benefits:
Many benefits and special features are available to help you customize your permanent life insurance policy, such as the spousal waiver of premium, which pays the Knight of Columbus premiums for your spouse after you pass away. Mark is happy to assist you in determining which of these features and benefits are best for you based on your age and policy specifications.
Why Choose Mark Deaton For Permanent Life Insurance?
A permanent life insurance policy from Mark can provide you with the peace of mind that comes with knowing your family will be provided for when you pass away. All policies (with the exception of the Graded Premium Whole Life option) have premiums that are guaranteed to not increase, eliminating the need to worry about anything unexpected. Additionally, your policy with Mark will accrue cash value over time. You can also elect to put the proceeds of any eligible dividends (which are not guaranteed) back into your policy through the purchase of additional paid-up insurance to increase your policy’s cash value and death benefit. The cash value can be used as cash through a partial loan, full surrender of the policy, or as collateral. As a family man himself, Mark understand the importance of providing for your loved ones after you are gone. A permanent life insurance policy can provide the protection your family needs.