Life Insurance & Annuities

Life Insurance Policies & Annuity Products in Ohio

Annuities and life insurance are different products, but both, at their core, offer the same solution: stability following a major event. Whether that event is retirement (annuities) or death (life insurance), ProtectALL Insurance can help you find the right options to protect you and your family as you age.

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Personal Insurance

Life Insurance

ProtectALL Insurance helps clients every step in the way as they search for a life insurance policy that’s right for them and their families. We understand the critical difference the right life insurance policy can make for your family, and our team will use all of its resources and experience to connect you with a policy that works for you.

Though there are a great many different kinds of life insurance policies, the most common are whole life insurance, term life insurance and universal life insurance.

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  • 1.

    Whole Life Insurance

    A whole life insurance policy covers the policyholder until their death or the cancellation of the policy. These policies, sometimes called permanent life insurance policies, are likely the most common types of policies.

  • 2.

    Term Life Insurance

    A term life insurance policy covers the policyholder until the end of a predetermined period of time – often 10, 20 or 30 years. These policies are often designed to cover the time it takes to repay a debt: Think a 20-year term life insurance policy for a holder who expects to finish paying off their mortgage in 18-19 years.

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    Universal Life Insurance

    A universal life insurance policy covers the policyholder until their death or the cancellation of the policy, as with whole life insurance. The key difference is that the holder is able to withdraw money from the policy at cash value while it is active. In addition, excess payments on the policy premium can be credited to cash value, making it possible for the policy to pay the holder back every month.

Annuities

Annuity investments offer an avenue for future income after retirement. Not only can they bolster your retirement savings, they can act in much the same manner as a pension, serving as the equivalent of a paycheck in your retirement years.

If you’ve maxed out your yearly contributions to qualified plans such as 401(k)s and IRAs, annuities represent another way to grow your retirement savings. They’re not subject to the annual contribution limits imposed by the IRS, and they can act as a defense against post-retirement financial roadblocks, such as inflation, market volatility, and the risk of outliving your savings.

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Speak with a ProtectALL Insurance agent today about what kind of life insurance policy or annuity is best for you and your family. Fill out our online quote form to get started.

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