Insurance

There are plenty of reasons that people chose not to add a life insurance policy to their monthly expenses, but the reality is that a life insurance policy is an essential financial tool that too many people live without.

Personal Life Insurance

There are many types of personal life insurance available, from term life and whole life to universal and variable life policies. Every insurance policy is a uniquely individual contract with availability dependent on factors such as age, health, and the type and amount of insurance purchased. At Palma Financial Services, we can help you determine exactly what policies are available to you, what portion of your budget can be dedicated life insurance and how it can be used as both an investment tool as well as a contingency plan for your family.

Business Life Insurance

If you are a business owner, there is another consideration to make when it comes to life insurance. Life Insurance for Business Owners can help you determine exactly what will happen to the business if you are unable to continue to perform your duties. Some of the options include provisions that provide funding to keep the business in operation while a replacement is found, a buy or sell agreement that helps determine custody of the shares of the company if there are two or more owners – there are even policies that replace the business income for the family of the owner. Split-Dollar Life Insurance is a common financial tool for business owners that helps them offer a death benefit as part of the work compensation package. This allows a smaller business to compete with corporate competition without having to shell out top dollar for policies.