Life Insurance in Columbia, MO

What Is Life Insurance?

There is no single product that is the best fit for every circumstance, so the team at Insurance Plus created a process for each type of insurance need that focuses on your specific goals and objectives.

Whether you need income replacement for your family, long-term care protection, estate planning solutions, or business-focused coverage like key person or buy/sell funding, we'll guide you through every option.

Most Common Needs for Families

Income Replacement — The most common need for life insurance is income replacement. Despite how much an individual earns, many families are highly leveraged and require all or most of those funds to maintain their current standard of living. When a family is dependent on one or both spouses' income(s), it is critical to ensure life insurance coverage is in place to potentially replace the required income stream.

LTC Protection — Government statistics suggest that 70% of those over age 65 will have a need for long term care. With nursing homes and assisted living communities experiencing massive staffing shortages, the importance of having a plan has never been more important. A long-term care insurance policy can protect your investment portfolio and ease the burden on your loved ones.

Estate Liquidity — For affluent families, the federal estate tax can create a major obstacle in transferring wealth. Life insurance owned inside of an Irrevocable Life Insurance Trust can provide liquidity for the estate to avoid selling assets at an unintended time.

Performance Evaluation of Existing Policies — Permanent life insurance policies are financial products that require periodic care. If you have never reviewed your permanent policy, it's time to do so. A proper review can potentially save you money or improve your policy.

Most Common Needs for Businesses

Key Person — Nearly every privately held business has a select few people who are critical to the ongoing success of the company. It's imperative the company maintain protection on those individuals to be able to hire, recruit and train a replacement in their absence.

Buy/Sell Funding — A Buy/Sell Agreement identifies a buyer for a business in the event of an owner's death. The agreement guarantees a market for the future sale and that the business passes on to the remaining owners. Life insurance to fund the agreement is typically less costly than borrowing funds.

Executive Benefits — Qualified plan limitations can prevent employers from providing adequate retirement benefits for their key employees. Alternatives to traditional compensation strategies can provide flexible options for employers.

What's Typically Covered