Washington State Family Owned Agency Since 2000​

FINDING THE BEST LIFE INSURANCE POLICY​

Planning for a future when you are no longer around will give you and your family the peace of mind that they will be financially provided for. Choosing the best insurance policy is essential to this process.​

At Pacific Insurance Group, we believe that you should never gamble on your future. We will assist you in finding the optimal Sammamish life insurance policy to meet your unique individual requirements right now and into the future. The following factors are taken into account when providing you with the top life insurance options:​

1. MAKING ROOM FOR CHANGE

​The only constant in life is change. Your insurance policy needs to be able to adapt and make room for the changes that you are likely to experience as you grow older. You are unique and so are your requirements and it is necessary to take this into account when planning for the following with regards to both your personal and financial needs:​

• Your family may be expanding with needs for a new child, dependent parent or other addition to your existing structure.
• You or one of your loved ones have been diagnosed with an illness, health condition or disease that may require additional care, assistance or could be terminal.
• You have or are planning to purchase a home.
• Your financial situation has changed in the form of a job loss, taking out a second mortgage on your home or you may have started a new business.
• You need to plan financially for your retirement.
• You are planning for the future educational requirements of your children or grandchildren.
• You, or your spouse, have recently come into an inheritance.
• You have numerous assets, investments and/or capital that form part of your estate.
• You are getting married or divorced.​

2. TYPES OF LIFE INSURANCE POLICIES

​There are a wide variety of different life insurance policies available, each designed to meet with different needs. The following factors are important in determining the ideal life insurance policy for you:​

Term Life Insurance: The term of a life insurance policy refers to the period of time over which you will be covered. You can choose between short-term (normally around 1 year), level or long-term (up to 20 years) or whole life insurance policy (permanent). There are a number of benefits to opting for term life insurance rather than whole like paying a fixed premium, the ability to convert to whole life insurance when the need arises and it provides you with more flexibility to adapt to your life changes.

​Whole Life Insurance: This type of life insurance does not terminate and has not term attached to it. In other words, it remains in place for your entire life as long as you continue to pay your scheduled premiums. It is also a great investment as the initial amount of cover can grow in value as time goes by.

​Universal Life Insurance: This is very similar to whole life insurance and has the same type of flexible premium structure. However, it will earn interest that will fluctuate with a restriction placed on how low the rate can fall.

​Deciding whether Term, Whole or Universal life insurance will best meet your needs can be difficult. Discuss the different options with our professional team at Pacific Life Insurance to provide you with all the information you need to make an informed decision.​

3. THE BENEFITS OF A LIFE INSURANCE POLICY​

While life insurance primarily focuses on providing for you or your family when someone passes away, there are some additional benefits provided by some policies that may benefit you in life.

​Death Benefit: Your estate can be tied up for months or even years when you pass away. A death benefit provides for your family’s immediate financial needs whether it be with regards to paying for a funeral, covering estate taxes, repaying debt or just about any other expenses. This benefit can also be used to support your business partners in purchasing your interest in a company and prevent bankruptcy or liquidation.​

Living Benefit: You can withdraw funds from your life insurance policy that is in excess of the cash value which has accumulated due to interest or growth. This amount can be used for unforeseeable expenses or as down payment on a house or even for educational purposes. The growth on your policy is tax deferred which means you only pay tax when you withdraw.

​The Pacific Insurance Group in Washington takes into account each of our client’s individual needs in finding just the right life insurance policy. We will be happy to answer any of your questions and address all your concerns to ensure that you have the peace of mind that your loved ones are protected when you aren’t around.