Life Insurance, Group Life Insurance
In Frankenmuth, Flint, MI, Saginaw, Bay City, Midland, MI, and the surrounding areas
An individual life insurance policy is an investment in your loved ones’ future. In addition to covering your estate taxes and other final expenses, life insurance can replace the income your family loses if you die suddenly and even provide tax-free income for beneficiaries.
R.A. Monk Insurance Agency, Inc. is proud to provide life insurance coverage across mid-Michigan, including Saginaw, Flint, Midland, Bay City, and Frankenmuth. Not all types of insurance are right for everyone, though, so it’s important to consult with an expert before you choose.
Term Life Insurance
Term life insurance is common, and when you choose it, you gain a lot of flexibility. With term life insurance, your policy lasts for the length of time you choose, usually between 10 and 40 years. Premiums with term life insurance are generally lower than with other forms, making them useful for when you expect your family’s need for coverage to decrease with time. Many clients set their term life insurance to expire when they expect to retire and select new life insurance then.
Our agency also offers Return of Premium term life insurance, where we return the premiums to you at the end of the policy term.
Whole Life Insurance
As its name suggests, whole life insurance lasts your whole life. Unlike term life insurance, it also builds cash value over time, allowing you to borrow against its value in some cases.
Whole life insurance can be a valuable choice if you:
- Will need to offset estate or inheritance taxes
- Expect to develop health problems that would increase your life insurance premiums later
- Want to be able to earn cash value for your policy
Universal Life Insurance
Universal life insurance offers a lifetime of benefits. It has the most flexible premiums we offer at a guaranteed interest rate. Most of the time, you can also borrow against its value as it grows.
Variable universal life insurance is a similar option, except we allocate your premiums toward the investment options you choose. This increases the potential reward but also the level of risk.
Indexed universal life insurance helps reduce this risk. It comes with higher expenses, but it protects your earnings from downturns in the stock market.
If you want to learn more about your Michigan individual life insurance policies, contact us at R.A. Monk Insurance Agency, Inc. for your quote today. We proudly serve Frankenmuth, Flint, Saginaw, Bay City, Midland, MI, and surrounding areas.
Life Insurance Options:
We can meet your needs for:
- Permanent Life
- Universal Life
- Whole Life
- Term Life
- Return of Premium Term Life (with this product all the premiums are returned to you at the end of the policy term)
- Fixed Annuities
- and more