Ask the Experts.
What’s the Right Life Insurance Policy for You?
Life insurance helps secure your family’s financial future after the death of you or your spouse. It also helps ensure that your estate will be allocated to the beneficiaries you have chosen. Whether you need life insurance depends on your individual financial circumstances. Social Security and some retirement plans available through employment cover burial costs and may provide a continuing income for dependents after a retiree’s death. Some consumers are able to use the accelerated death benefit rider available in some life insurance policies to cover nursing home costs, but this will usually not provide the same amount of protection as long-term care insurance.
Policies we offer cover individuals in Massachusetts, New Hampshire and Maine. Sullivan Insurance is a solid company to help insure you for your loved ones will benefit.
TYPICAL LIFFE INSURANCE COVERAGE'S
Protect What Matters Most
Term life insurance or term assurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
Whole Life Insurance, or whole of life assurance, is a life insurance policy that remains in force for the insured's whole life and requires (in most cases) premiums to be paid every year into the policy.
A type of permanent life insurance. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, as well as any other policy charges and fees which are drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer, but has a contractual minimum rate of 2%. When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is a "Equity Indexed Universal Life" contract.
Variable Universal Life Insurance is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner. The 'variable' component in the name refers to this ability to invest in separate accounts whose values vary—they vary because they are invested in stock and/or bond markets. The 'universal' component in the name refers to the flexibility the owner has in making premium payments. The premiums can vary from nothing in a given month up to maximums defined by the Internal Revenue Code for life insurance.
ARE YOU A BUSINESS OWNER?
Typically, a business owner will save money by choosing a BOP because the bundle of services often costs less than the total cost of all the individual coverage’s. Read More (link to Business Insurance BOP)
*Motor vehicle accidents with excessive physical damage, bodily injuries, or death.
*Slip and fall accidents on your property
*Swimming Pool Accidents
*Physical damage or bodily injury caused by your dog
*Slander, libel, and defamation lawsuits
*Judgments that exceed the limits of your auto or home policies
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Mark was very helpful when I sent in my auto quote request by showing me online the information required by my carrier. He helped me fill out the information and was able to get a quote quickly. Now I have been with Sullivan for more than 5 years! Great Customer Service
I had a number of things that I needed to review in my homeowners policy and better understand. There had been a couple of changes to my home and I purchased a boat and wanted to make sure all these things were covered. Peter took the time to review the details with me and redid the policy. I couldn’t have done it alone. Thank You Sullivan Insurance
Having a business comes with a lot of risk. I met with Sullivan Insurance and they provided a free consultation and presented all the options my business would need and by the end of the meeting I was sure and confident in the direction I needed to take and signed before I left. Relief!
I’m getting older –now over 60--and I realized a life insurance policy would be good to have for me and my family. I read the options on websites but it was so helpful to have someone go thru the details with me. I filled out a quote form and sent it to Sullivan Insurance and got a call to review the details. Within a day they got back to me, verified the details we has wanted and I signed. Simple as that.