Protect those most important to you with life insurance.
Life insurance provides a sum of money to replace lost income after your death. In return, you make periodic payments, called premiums, to fund the policy. Life insurance can give you and your family peace of mind, knowing that your loved ones will be provided for, no matter what.
Life insurance benefits become available to your beneficiaries upon your death. The money can be used as they see fit including:
Replacing lost income
Covering basic living expenses
Paying household debts
Estate taxes and funeral expenses
Funding a child’s Education/college
Supplementing retirement savings
Choosing the perfect life insurance plan depends on your financial needs and health status. Cosmo will assess all factors and guide you through every option until we find the perfect plan for you. No matter what the results of your medical examination are, we will find the insurer that will provide you with the best rating class and the lowest premiums.
Purchasing group life insurance coverage for your team is a great way to show the value you place on what is important – their families and loved ones.
Employers often choose group life insurance as part of employee be
Individual Insurance
Choosing the perfect life insurance plan depends on your financial needs and health status. Cosmo will assess all factors and guide you through every option until we find the perfect plan for you. No matter what the results of your medical examination are, we will find the insurer that will provide you with the best rating class and the lowest premiums.
Group Insurance
Purchasing group life insurane coverage for your team is a great way to show the value you place on what is important — their families and loved ones. Employers often choose group life insurance as part of employee be.
What you need to know about purchasing Life Insurance:
Choosing a Policy:
Choose a policy based on how may years you want your policy to last and the coverage amount that you want paid out.
Purchasing Life Insurance:
Shop life insurance quotes from multiple life insurance companies to find the most affordable option. Choose to pay your life insurance po9licy with monthly or annual premium payments. You are eligible for a 10 day look period. (You can cancel for up to 10 days after you enroll.)
Filing a Claim:
As long as our life insurance policy is active, your beneficiaries can file a claim after your death and the death benefit will be paid out to them.
Types of Life Insurance
- Term Life Insurance Term Life Insurance is insurance that covers you for a pre-specified number of years or terms. (Term length examples: 10,20, 30 years.
- Permanent Life Insurance is more complex than a term life insurance policy.
- Whole Life is the most common type of permanent life insurance, and it covers you until you die. It also provides a cash value account that can be used for any reason while you’re still alive and the dividends are tax-deferred.
Life Insurance FAQS
The way to calculate an approximate number is to consider all the aspects in which you provide for your family financially, (not including your personal expenses), and come up with a number that can sustain your family monetarily after you are gone. Some of the factors to consider include: The income you bring in from your job, the insurance you pay for, your retirement plan savings, the amount you provide for food, clothing, etc
A beneficiary is the individual or individuals who are pre-appointed to receive the proceeds of your policy after your death. If there is no one named as the beneficiary to your policy, the funds will be distributed according to the contract’s terms, and may not go to the individuals you intended to receive the benefits. In order to ensure that there are no unexpected changes after your death, make sure that your choice is updated every year.
The proceeds of your life insurance policy are usually given to your beneficiaries without the burden of income tax. You also are exempt from income tax on any money you earn off the policy while the policy terms are valid. Finally, policy loans and withdrawals(although they lower the policy’s cash value), are usually exempt from taxes.
