Safeguard Yourself and Your Family

Leugers Insurance in Franklin, IN offers a complete line of life insurance products. Our philosophy is to fully understand your objectives. By doing so, we can translate your goals into solutions that provide you and your family with peace of mind.

For your benefit, we work with several top-rated insurance vendors. We also place your account with a company that will provide you with the benefits and coverage you want.

Our Life Insurance Products Include:

Final Expense Insurance

This insurance helps families cope with the loss of a loved one by guaranteeing that all of the funeral and burial expenses will be paid for. A final expense insurance is the perfect alternative to a standard life insurance because it is more affordable. In addition, no medical exam is required, and premiums will not increase over time.

Traditional life insurance plans can take weeks to pay out. Final expense insurance can provide funds to your family within 24 to 48 hours of your passing. This instant, short-term monetary relief can cover day-to-day living expenses and help your family stay current with mortgage payments.

Fixed Annuities

A fixed annuity can help you accumulate tax-deferred earnings as part of your retirement plan. You should invest in an annuity if your tax bracket is high and you want to defer your additional income. An annuity is also ideal for you if you have reached the deductible limit on your retirement account and wish to save more funds.

Individual Life Insurance

Our agents can help you secure your family’s financial future by providing the funds they need to cover burial expenses and uninsured medical bills. We can also help your family pay off your mortgage and other outstanding debts, as well as maintain a comfortable standard of living.

The kind of policy you choose depends on your requirements. To discuss your needs with our team, connect with us today. We can provide you with a variety of life insurance policies and products.

Term Life Insurance
This insurance is a low-cost way of providing maximum coverage for your family. It generally provides the largest insurance protection for the dollar. Term life insurance premiums will not increase during the guaranteed policy period you have selected. In addition, term life insurance pays a death benefit only if you die during that term.

It is important to remember that the protection is provided for a limited number of years. If the insured lives beyond the policy period, which is usually 5 to 20 years, the insurance expires without value. Other policy life periods are available, including a one-year annual renewable term.

Universal Life Insurance
Universal life insurance is characterized by its flexibility. Policyholders can determine the frequency and amount of premium payments. The more you pay, the less time you need to pay.

Whole Life Insurance
This insurance product provides protection for a lifetime. Provided that premiums are paid, whole life insurance offers coverage from the date of policy issue to the date of the insured’s death.

Unlike term insurance, this policy combines insurance protection with savings or cash value, which builds over time. The cash build up can provide a source for living benefits, such as paying off a mortgage or a child’s education. A cash surrender value is also available if the policy is canceled.

Mortgage Protection Insurance

The mortgage is the single largest source of personal debt for many homeowners. Mortgage protection insurance is specifically designed to pay off that debt in the event of your death.

Similar to most types life insurance, mortgage protection insurance helps ease the financial burden of your loved ones. It is an affordable way of making sure that your home will be paid for, regardless of the circumstances.

Life Insurance FAQs

How do I know if I need life insurance?
Life insurance is a safe and simple way of guaranteeing that the people who depend on you now will be taken care of after you are gone. Beneficiaries receive a tax-free cash payment, which ensures that their standard of living and way of life does not suffer when you pass away.

Avoid making a tragic situation worse by failing to plan now. If you are the primary earner in your household, life insurance is not an option—it is a responsibility.

How do I know how much coverage I need?
There is no “one size fits all” insurance policy. However, most experts estimate that, at a minimum, people need coverage that is equal to 6 times their annual income. The only “wrong” answer is when you don’t have coverage at all.

What is the difference between term and permanent life insurance coverage?
Term life insurance only provides coverage for a limited time, making it the most affordable type of life insurance. On the other hand, permanent life insurance offers lifetime protection, as long as you continue to pay your premiums.

Can I use life insurance while I’m alive?
The primary reason for purchasing life insurance is to provide your loved ones with financial security after your death. However, many policies offer benefits that you can use during your lifetime. These benefits include:

• Accelerated death benefit – Terminally ill patients can forgo their death benefit in exchange for a payment that is equal to the life insurance policy’s face value.
• Portability – You can take your life insurance plan with you when you retire or switch careers.
• Waiver of premium – This feature allows you to keep your coverage even if you become disabled or seriously ill and are unable to pay your premiums.
  Cash accumulation – Some policies allow you to increase the amount of your death benefit, which can be done by paying in excess of your regular premiums.

Can I borrow money against my life insurance policy?
Only permanent life insurance allows the policyholder to make a loan against the policy’s built up cash value. Term life insurance does not have a loan option because it does not accumulate cash value.

Can the same person have more than one life insurance policy?
There are currently no laws that restrict the number of life insurance policies a person can hold. Additionally, individuals are allowed to purchase policies from as many companies as they want.

What should I consider in naming my beneficiaries?
Choosing your beneficiaries is among the most important decisions you will make as a policyholder. You may designate a primary beneficiary or multiple ones. If you decide to designate more than one beneficiary, you will need to decide how the death benefit will be divided.

Take note that beneficiaries are not limited to actual people. Legal entities, such as charities, foundations, and trusts, are also eligible.

Is a physical examination always required to obtain life insurance?
Not every life insurance policy requires a physical exam. With that being said, policies with high death benefits usually do.