Polizzi Insurance, Rochester, New York


Life Insurance Poll
What type of life insurance do you have?

Term
Universal
Variable UL
Whole / Guaranteed
Survivor
None




Universal Life Poll
Are you drawing retirement income from a UL policy purchased when you were young?

Yes
No, I may in the future
No, I wish I had purchased one when I was young



















Which type of life insurance is right for you?

  • Are you young and planning for the future?  Consider a Universal Life or Variable Universal Life Insurance policy.

  • Do you need insurance for a specific period of time (e.g. while your children are young)?  Consider a Term Life Insurance policy.

  • Do you hesitate spending money on life insurance because you feel you have nothing to show for it?  Consider a Universal Life or Whole Life Insurance policy.

  • Are you looking for permanent lifetime coverage, but do not want the risk of fluctuating interest rates?  Consider a Whole Life Insurance policy.

  • Are you strapped for cash, but need to provide lifetime coverage for your family?  Consider a Term Life Insurance policy with a conversion option.

  • Are you looking for the least amount of permanent lifetime coverage?  Consider a Whole Life Insurance policy.

  • Do you have health problems that are uninsurable, but need insurance to cover some expenses when you are gone?  Consider a Guaranteed Issue Life Insurance policy.

  • Do you have a sizeable estate that will be subject to taxes upon your death?  Consider a Survivorship Life Insurance policy.




Why choose a Term Life Insurance policy?

  • To get coverage at the least premium cost.
  • To supplement existing insurance for a specific period of time (e.g. while your children are young).
  • To protect your family.
  • To help pay off your mortgage.
  • To help pay off your debts.
  • To provide educational funds.
  • To take care of loved ones.
  • To protect your business.

Advantages of term life insurance.

  • Provides the largest immediate death benefit for your premium dollars.
  • Provides death protection for a specific length of time.
  • Premiums may be guaranteed for 5, 10, 15, 20 or 30 years.
  • Usually renewable to age 70 or 80 in New York; age 90 in Florida.
  • Some policies are convertible before the end of a "conversion period" to a whole life or universal life policy even if you are not in good health.
Note: Some term policies are "renewable" for one or more additional terms even if your health has changed. Each time you renew the policy for a new term premiums will be higher. You should check the premiums at older ages and the length of time the policy can be continued.




Why choose a Universal Life Insurance or
Variable Universal Life Insurance policy?

  • To have permanent, lifetime coverage.
  • To avoid increasing premiums when renewing or reapplying for a term insurance policy.
  • To protect your family.
  • To help pay off your mortgage.
  • To help pay off your debts.
  • To provide educational funds.
  • To take care of loved ones.
  • To protect your business.
  • To build for your retirement.
  • To provide cash for emergencies.

Advantages of universal life insurance.

  • Flexible premium payments.
  • Adjustable death benefits.
  • Cash values credited with interest at a rate declared by the insurance carrier.
  • Interest accumulates tax deferred under current tax laws.
  • Withdrawal or loan privileges.*

Advantages of variable universal life insurance.

  • Investment options in stocks, bonds or money market portfolios.
  • Multiple, professionally managed, investment portfolios.
  • Portfolios selected by individual policy holder.
  • Flexible premium payments.
  • Adjustable death benefits.
  • Investment performance of selected portfolios directly affects the cash value of policy.
  • Tax-deferred growth of policy's cash value.
  • Withdrawal or loan privileges.*



Why choose a Whole Life Insurance policy?

  • To have permanent, lifetime coverage.
  • To avoid increasing premiums when renewing or reapplying for a term insurance policy.
  • To protect your family.
  • To lock in a fixed premium payment (at a lower rate if you are young).
  • To guarantee the value of the contract, regardless of interest rates.

Advantages of whole life insurance.

  • Guaranteed level premium payments.
  • Guaranteed level death benefit for as long as you live.
  • Guaranteed cash values.
  • Loan privileges.*
Note: Premiums may be several times higher than the initial premiums for the same amount of term insurance, but they are smaller than the premiums you would eventually pay if you were to keep renewing a term insurance policy until your later years.




Why choose a Guaranteed Issue Life Insurance policy?
  • To bypass underwriting requirements for uninsurable health problems.
  • To supplement insurance lost when retiring from a job.
  • To provide for final expenses for those who have no coverage.

Advantages of guaranteed issue life insurance.
  • Guaranteed eligibility with no medical exam.
  • Guaranteed level death benefit for as long as you pay the premium.
  • Premiums never increase.
  • Up to $25,000 of permanent life insurance.
  • Issued for individuals between ages 50 and 75 in New York; 50 and 80 in Florida.
  • Death benefit is tax-free under most circumstances.
  • Policy proceeds normally avoid probate.



Why choose a Survivorship Life Insurance policy?
  • To help pay estate taxes.

Advantages of survivorship life insurance.** (Also called "second to die" policy.)
  • Death benefit provides the cash needed to help pay estate taxes*** upon the death of the second spouse.
  • Total premiums paid are normally only a fraction of the cash received as a death benefit.
  • Life insurance death benefits provide the cash at precisely the time it is needed.



*    Withdrawals and loans may reduce the cash value and death benefit of the policy.

**  Stephen M. Polizzi Insurance Agency, Hazard & Siegel Inc. and their agents do not provide legal or tax advice.  For specific legal or tax advice concerning your situation, please consult your attorney or tax advisor.

***  For 2010, estate tax has been repealed.  Gift taxes still apply.

      For 2011, unless new legislation is enacted, estate taxes will revert back to those in effect in 2001; with the highest estate tax rate of 55% of your taxable assets.



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Life Insurance, Rochester, New York

Products and agency services may not be available in all states.  Stephen M. Polizzi is licensed for life, health and variable annuity products in the states of New York and Florida.  Securities offered by Stephen M. Polizzi as a Registered Representative through Hazard & Siegel Inc., 5790 Widewaters Parkway, P.O. Box 157, DeWitt, New York 13214, (315) 414-0722, Member FINRA / SIPC.  Hazard & Siegel Inc. and Stephen M. Polizzi Insurance Agency are separate and non-affiliated entities.

Life Insurance, Rochester, New York
Polizzi Insurance, Rochester, New York
Life Insurance, Rochester, New York

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