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Personal Life Insurance

Personal Life Insurance

Personal Life Insurance

You’re never too young or too old to get a personal life insurance policy. This is a type of insurance that pays a lump sum to your designated beneficiary at the time of your death.

Macino Financial understands that this isn’t always something people enjoy planning or even discussing. However, setting up personal life insurance is one of the most loving things you can do for your family. This is especially true of your spouse who must survive without your income.

Which Type of Personal Life Insurance Policy is Right for You?

You can apply for either term or whole life insurance depending on the specific needs of you and your potential beneficiaries. Whole life insurance, also called universal life insurance, is a permanent policy. That means it remains in effect throughout your life as long as you pay your premiums on time. A whole life insurance policy also serves as a tool for savings or investment. You accumulate cash value over the life of the policy and can borrow money against it if necessary.

As the name implies, a term life insurance policy remains in effect for a set time period or term. This type of policy pays a benefit to your beneficiaries if you pass away while it’s still in effect. It doesn’t pay anything if you live past the term of the policy, but you may be able to apply for a renewal. People tend to choose a term policy for financial reasons since it costs less than a whole life policy.

Sorting Through Your Options

It can feel overwhelming to select a personal life insurance policy, especially when every company you investigate claims it offers the best coverage at the lowest rates. Macino Financial utilizes our extensive knowledge of the insurance industry to determine the validity of advertising claims. For example, we makes sure the organization holds current licensure and is covered by your state’s guaranty fund. We also know how to check the financial stability of the organization and research its overall reputation. As someone who has been married over 30 years and is the father of three daughters, David Macino can appreciate your desire to provide for your family should you pass away prematurely. His personal and professional experience make him the ideal advisor when it comes to selecting personal life insurance.

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Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Macino Financial Services are independent of each other. For a complete description of investment risks, fees and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative or by contacting Virtue Capital Management.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.

Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.

Investment advisory services are offered through Virtue Capital Management, an SEC Registered Investment Advisor. Macino Financial and VCM are independent of each other. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. We cannot guarantee that a portfolio will match or outperform any particular benchmark. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented.