Fortress Life Insurance

What we help you with

IUL (Indexed Universal Life)

This is an insurance policy that will cover you for your entire life. It also has a cash value which increases considerably when the stock market grows, but never loses value even if the stock market crashes. The cash inside your life insurance policy can be accessed tax-free and penalty-free at any time.

IUL for Children

Many people get an IUL for their children when they're born, or when they are very young. Using the power of compound interest, these insurance policies can accumulate millions of dollars over 20, 40, and 60 years. For as little as $100/month you can use tax-free cash from an IUL to pay for college, buy a car, or have tax-free income when you retire. https://www.youtube.com/watch?v=gIieZrg3_UE

IUL as a Tax-Free Retirement Income

IUL's provide a cash value that grows with time using the concept of compound interest. It's basically a Roth IRA that has a life insurance policy attached to it, and it's not limited to $6k/yr. These can be worth a lot of money in the future if you contribute just a little bit of money now. Also you can take money out of the policy at any time and it's tax free. Many people use these to fund their retirement. https://www.youtube.com/watch?v=wX89Rk5pr6A

Indexed Annuities

Indexed annuities aren't your grandparents' annuity! New indexed annuities earn lots of interest when the stock market grows, but your gains and your principal are protected. That means when the stock market crashes, you lose nothing! This is very important for people over 45 years old. You don't want to lose value in your IRA or 401k if the stock market crashes just before you retire! Consider rolling over your old 401k's into an indexed annuity.

Term Life Insurance as a Means of Mortgage Protection

If you or your spouse passed away today, would your family still be able to live in your house? Would your kids still be able to go to the same school? Term life insurance can be obtained for 15 – 30 year terms that can be used to pay off your mortgage if you pass away.

If you qualify for return of premium, in 20 or 30 years when your mortgage is paid off and your life insurance policy expires, the insurance company refunds you all the premiums you have paid! Yes, you get your money back!

https://www.youtube.com/watch?v=mSUIK-M2WSk

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Burial and Final Expense Insurance

Let's face it, we're all going to leave this plane of existance someday. What many people don't realize is how much debt your family could incur when you pass away. Cremation routinely costs $7 - $10k. Burial typically costs over $20,000. Your family will have to pay these costs, and possibly more when you pass away. Final Expense insurance can save your loved ones from financial hardship! This is typically the most affordable kind of insurance and easy to apply for.

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Frequently Asked Questions

Please contact us if you cannot find an answer to your question.

How much life insurance do I need?

As a rule of thumb you should go with the 10/20 rule. The 10/20 Rule states that your life insurance should cover you for ten years worth of your salary in order for your family to continue living at the same level. Also you should have 20 times your annual income saved for retirement. However there are other things to consider: Do you want your home paid off when you die? Do you want extra insurance money to put your kids through college after you die? Do you need extra insurance money to pay off cars and credit cards when you die? A licensed insurance agent can do a Financial Needs Analysis (FNA) for you to determine the best level of coverage for your unique situation.

What is a premium?

A premium is the amount of money you pay for life insurance. Most policies allow you to pay monthly, quarterly, or annually. If you recieve social security, the premium can be paid on the same day you recieve your payments.

I had covid last year, can I still get life insurance?

Yes, previous covid infections do not disqualify you from having life insurance. If you get covid in the future, you are still covered.

I have diabetes, can I still get life insurance?

Yes, you can still get life insurance. However being diabetic will limit your options while shopping for a new policy. Also your age when you were first diagnosed with diabetes will have an effect on your options.

What is the difference between Term Life and Whole Life?

Term Life is insurance that will only last for a set period of time. Usually a term policy does not accumulate cash value. If you live longer than your term policy, the insurance company usually keeps your money. Whole Life lasts your entire life as long as you met the premium payment obligations. Whole life policies may have some cash value. Some whole life policies may expire when yyou turn 101 or 120 years old, however the cash value of the policy will still be given to your beneficiary.

I have life insurance at work, do I need more?

YES! If you quit your job or get laid off you will no longer have life insurance through your employer. Most employers provide 1 year of salary as the amount of life insurance. Your family may need more money than that to survive the financial catastrophe of your death.

My stock broker says I don't need an annuity.

Your stock broker makes money when you invest money with him in the stock market. If you put money in an annuity, he's going to get less commisions from you. Insurance agents don't get paid commision out of YOUR money like a stock broker does. Depending on your age, and desired risk level an annuity might be the best thing for you.... and the worst thing for Wall Street and your stock broker.

How can I get my money out of an annuity if I have an emergency?

The leading annuity providers allow you to withdraw up to 10% of your annuity annually in many cases (no penalties), regardless of how long your money has been in the annuity. This will vary from product to product. Of course, at the end of your annuity term (the annuitization date) you can withdraw any amount of money penalty-free.