LIFEVINE

Protecting families and wealth

• (941)-842-4340
• [email protected]

education center

trending

• Home

living benefits

• Consultation

• Home

PARTNERED WITH
A-RATED CARRIERS

request your FREE
Consultation

• Home

request your FREE
Consultation

• Home

submitted!

• + spouse

MP-form

* If a section of this form is not applicable enter: N/A

*do not use autofill to input email or address information

FE-quote form

* If a section of this form is not applicable enter: N/A
*do not use autofill to input email or address information

* If a section of this form is not applicable enter: N/A
*do not use autofill to input email or address information

• Home

* If a section of this form is not applicable enter: N/A
*do not use autofill to input email or address information

• Home

* If a section of this form is not applicable enter: N/A
*do not use autofill to input email or address information

• Home

Application form

complete!

A licensed agent will reach out to you soon with your quotes

• Add spouse

• Home

complete!

A licensed agent will reach out to you soon with your quotes

• Add spouse

• Home

** there is also a ROP option for those who want a savings element in their policy. With return of premium, when the term ends the Insurance company pays you back all the premiums paid into the policy.

So even if you out live the term, you will still receive a nice chunk of savings at the end of it, instead of being left with nothing once the coverage period ends.

Cold call - A

hello________, it's just ________ from LifeVine Legacy. We are a local insurance agency that receives a list of all the recently approved mortgages in manatee county. I'm calling about your property located at ____________. Do you have a few minutes?

well, 1st I just need to verify the information I have on file here.

Our records show that your loan is with --------------- in the amount of $--------------- is that correct?

Ok, great!

So, I am with the mortgage protection department, I'm the one responsible for making sure you receive all the information for the insurance, along with policy quotes... These policies will pay off your mortgage, in the event of a sudden death, chronic illness or critical injury.... Providing a safety net for your loved ones, so they won't be at risk of losing the home...

Do you currently have some sort of plan in place, to financially protect your family?

• Start

• Chevron Left
• Chevron Right

painting the scenario

Those that find this coverage is especially important to have in place, in the case where one spouse is a stay at home parent, or can not afford to keep the home with their income alone.

In this situation where a family is either relying on a sole income earner, or on a joint income... If one were to suddenly die from an accident or suffer from a serious illness preventing them from working..., the impact of such a scenario can be devastating...

Not only dealing with the loss of a loved one, but also having to suffer through the stress and anxiety of possibly losing your home, and not knowing how you'll be able to make ends meet.

PMI- Private Mortgage Insurance

Insurance is different... Although the borrower is paying for it, PMI actually is protection for the lender: It compensates them for the extra risk they’re assuming by extending a larger loan, and demanding less cash upfront from you.

Cold call - B

hello________, it's just ________ from LifeVine Legacy, we are a local insurance agency here in manatee county... I'm calling about the property you recently purchased which is located at ____________. Do you have a few minutes?

Great. so, I’m with the mortgage protection department.... We focus on helping families get the insurance coverage in place, so they are not at risk of losing the home if an unfortunate event were to happen; such as the passing away of the bread-winner.

Are you familiar with these types of policies?

Well, how these policies work is in the event of a sudden death, chronic illness or critical injury they guarantee your family will have access to the funds. Which will allow them to pay off the mortgage ensuring they are able to stay in the home, and cover any other expenses or debts. This gives your family a safety net to rely on, in an emergency situation.

To save our clients time shopping around... Our agency provides a free policy report to all recently approved mortgage holders. It contains a list of your policy options with multiple insurance carriers, along with quotes, and company brochures for you to look over and compare…

Do you feel like receiving that information would be of helpful to you??

ok, got it. I'll get that report over to you.

Do you currently have some sort of plan in place to financially protect your family?

• Start

• Chevron Left
• Chevron Right

painting the scenario

Those that find this coverage is especially important to have in place, in the case where one spouse is a stay at home parent, or can not afford to keep the home with their income alone.

In this situation where a family is either relying on a sole income earner, or on a joint income... If one were to suddenly die from an accident or suffer from a serious illness preventing them from working..., the impact of such a scenario can be devastating...

Not only dealing with the loss of a loved one, but also having to suffer through the stress and anxiety of possibly losing your home, and not knowing how you'll be able to make ends meet.

PMI- Private Mortgage Insurance

Insurance is different... Although the borrower is paying for it, PMI actually is protection for the lender: It compensates them for the extra risk they’re assuming by extending a larger loan, and demanding less cash upfront from you.

• scripts
• FE- agent form
• MP- agent form
• app
• MP- client Basic
• MP- beat Price
• carriers
• book

• Cancel

• home
• About us
• Consultation
• Mortgage protection Quote
• Burial Final Expenses Quote
• Education
• insurance Carriers

• Cancel

If you’re in the market for life insurance, you will quickly find that there are numerous options. Having choices is a good thing, but it does mean that you will need to have an understanding of the options available before you decide on which type of life insurance best suits your needs.

>Term life insurance

>Whole life insurance

>Universal life insurance

>Final Expense insurance

Term Life Insurance

Policy length: Common level term periods include 10, 15, 20 or 30 years

Cash value: No

Premiums: Level, annual renewable

Death benefit: Fixed

How it works: Term life insurance has a specific end date for the level term period, when rates stay the same. After this period you can renew the policy annually, but at the going rate for your age without having to show proof of insurability. Choices of coverage lengths are generally 10, 15, 20 or 30 years. It’s the cheapest way to buy life insurance because you’re buying only insurance coverage and not paying for cash value.
Who is it for: Term life insurance is ideal for people who want life insurance coverage for a specific debt or situation. For example, some people buy it to cover their working years as income replacement for their family in case they pass away. Some people buy term life to cover the years of a mortgage or other large debt.Downside: If you still need coverage after the level term period expires, buying a new life insurance policy could be a bit pricey based on your age, and health status at that time.

whole life insurance

Policy length: Permanent

Cash value: Yes

Premiums: Level

Death benefit: Fixed

How it works: Whole life insurance can provide coverage for the duration of your life. An account within the policy builds cash value over time by using part of your premium payment and adding interest. A policy will have built-in guarantees that the premium will not increase, the death benefit remains the same, and the cash value will earn a fixed rate of return.
Who is it for: Whole life is suited for people who want lifelong coverage and are willing to pay for the guarantees provided by the policy.
Downside: Because of the guaranteed features, whole life insurance is one of the more expensive ways to buy life insurance.

universal Life insurance

Policy length: Permanent

Cash value: Yes

Premiums: Might be flexible

Death benefit: Might be flexible

How it works: Universal life insurance (UL) can be hard to understand because there are a few types with very different features and options. Universal life insurance can be cheaper than whole life insurance because it generally doesn’t offer the same guarantees.
some forms of universal life allow flexible premium payments and the death benefit amount will adjust accordingly, within certain limits. UL policies include a cash value component.

Who is it for: Universal life insurance can be a good fit for someone looking for lifelong coverage, and flexibility. Some varieties of UL are suited for people who desire to tie their cash value gains to market performance.

Downsides:If cash value is your main interest, it should be noted that not all UL policies offer a guaranteed minimum rate of return. So there is a chance that in some years depending on the policy, you may gain 0% for the year. Be aware of what is guaranteed within your UL policy and what isn’t. Keep in mind that if you’re interested in flexible premiums payments, you will also have to stay on top of your policy’s status to ensure it is not lacking the necessary funds to avoid a policy lapse.

Final Expense Life Insurance

Policy length: Permanent

Cash value: typically

Premiums: Level

Death benefit: Fixed

How it works: usually a small whole life insurance policy intended to pay only for burial costs and other final expenses.
Who is it for: These types of policies are generally for people in poor health or up in age. those who don’t have other life insurance options available to them, but still in need of insurance for basic funeral expenses.
Downsides: final expense policies are typically more expensive, based on the amount of coverage you get for your money.
Graded Policy: Your beneficiaries won’t get the full death benefit if you pass away from something other than an accident within two or three years after buying the policy. Check the policy’s timeline for these “graded death benefits.” Your beneficiaries in this case may receive only a refund of the premiums you paid, plus some interest if you happen to pass away before the wait period is over.

Underwriting Methods

Insurance companies have an underwriting process to assess your health and risk—and decide what to charge for premium payments.

Fully Underwritten

>Medical exam required.
>Usually a lengthy application process with multiple questions related to health, family history. lifestyle and hobbies.
>These are often the cheapest policies because the life insurance company collects a lot of information about you, reducing their risk.
> if certain health concerns are discovered in the medical exam, this will result in your high risk class being noted in the database. As being considered a high risk you will either pay expensive premium rates or possibly be denied for insurance coverage all together.

Accelerated Underwriting

>No life insurance medical exam required.
>Application will ask some health questions.
>The insurance company will use third-party data about you to make a decision, such as information about your prescription drug history.
>In some cases a policy that had accelerated underwriting can be competitively priced with a fully underwritten policy, but not always.
>If red flags come up in the data analyzed by the insurer, you might be asked to go through a full underwriting process with a medical exam.

Simplified Issue

>Doesn’t require a medical exam.
>Applicants answer health questions
>The insurance company may use third-party data about you to make a decision.

Guaranteed Issue

>You can’t be turned down.
>Doesn’t require a medical exam.
>No health questions asked.
>Most expensive way to buy life insurance because the company is taking on a higher risk.

• Consultation

Most families need to establish a long-term savings plan if they hope to cover their children's college cost or at the very least lessen the burden of student loan debt. Many parents go with the tax-advantaged 529 plan. However, permanent life insurance, has a tax-deferred savings component, along with other benefits.

529 plans and permanent life insurance are two ways to create college funds for kids. A 529 plan allows tax-deferred saving with tax-free withdrawals. The downside is that it counts as an asset when you apply for financial aid, while a life insurance policy doesn't.this article will discuss how each savings plan works, and the things to keep in mind when choosing a college saving strategy.

>traditional 529 plan

>permanent life insurance savings vehicle

> pros of using a life vehicle

529 saving Plans

  State-run 529 plans are similar to a Roth 401(k) or Roth IRA, but are utilized for education rather than retirement savings. With a 529 savings plan, you can invest in a selection of mutual funds, and your earnings grow tax-deferred. If you use the money for what the IRS considers qualified education expenses, your withdrawals will be tax-free. Most states also offer a state tax deduction for any contributions to their plans.  The 529 is known as the gold standard for funding college, although it’s not the only path with tax benefits. A useful alternative is to take out a permanent life insurance policy, which includes a tax-deferred savings component.

permanent life insurance savings vehicle

  For every dollar you pay in premiums, a portion goes toward the death benefit and another portion is diverted to a separate cash-value account.  With a life insurance policy the issuer credits your account with gains based on the market performance. Meanwhile, the money in the cash-value account continues to grow with compound interest, and much like a 529 plan is tax-deferred,

Pros of Using Life Insurance for College

  When contrasted with a 529 plan, life insurance has some benefits. One is more flexibility. let say your child decides against going to college. Any earnings in your 529 account, will be subject to ordinary income tax rates and usually a 10% tax penalty if you withdraw. Some plans will allow the beneficiary, who may possibly be in a lower tax bracket, to withdraw the funds. None the less it's still a significant hit in taxes that life insurance owners avoid.

The second advantage of life insurance is that it’s not included in financial aid calculations. On the other hand money in a 529 plan is considered a parental asset, and up to 5.64% of parental assets are counted as Expected Family Contribution for each year of college.

• Consultation

It’s not just about how much you can accumulate for retirement...
the taxation implications on your retirement income is a key component to consider when devising a plan to reach your financial goals.

Your view on future tax rates should drive some of your retirement strategy.

> If you believe future tax rates will be lower, then saving today on a pre-tax basis, using a qualified plan or Traditional IRA, makes a lot of sense for you.

> If you believe future tax rates will be higher, then you will want to consider a tax-free retirement strategy such as a Roth IRA or permanent life insurance.

What if you could

> Provide an income tax-free death benefit for those who depend on you

> Defer taxes as your accumulated cash value grows

> Potentially access that cash value using income tax-free policy loans   and withdrawals for retirement income or other needs

Tax-Free Retirement Strategies

Roth IRAs

a Good choice if you meet the qualifications. To contribute to a Roth IRA your adjusted gross income needs to be below a certain threshold. if your income is below the threshold the total amount you can contribute is still limited and could phase out should your income increase.


What are my options if i don’t qualify for a Roth IRA, or i want to be able to contribute more?


Permanent Life Insurance

The primary purpose for purchasing permanent life insurance is the death benefit protection that it provides. However, permanent life insurance has the ability to build up tax-deferred cash value that can be accessed during your lifetime to generate retirement income potentially with a tax free benefit.

life policy benefits

protections your dependents:
In the event of a premature death, the income tax-free death benefit could help fund your spouse's retirement or your child's bright future .

Access to funds in the event of illness:
Accelerated Benefit Riders allow you to access all or a part of your death benefit to help pay for costs associated with a terminal, chronic or critical illness.

Protection in the event of disability:
many policies offer an optional Waiver of Premium Rider that continues to pay your planned premiums in the case of you becoming permanently disabled. This add on will keep your policy on track with your original accumulation goals.

• Consultation

protect your little ones

Get your kids off to a good start with Children’s Whole Life Insurance

benefits of having a policy

> covers costs associated with a sudden loss

> locks in a low rate plus helps secure you child’s future insurability

>includes a cash value account for their future

There are three main advantages to buying life insurance for your children: guaranteed coverage, locking in low premiums and access to the cash value for the future.

Guaranteed coverage

You just don’t know whether your child will develop any serious health conditions that may prevent them from qualifying for any coverage in the future. An unexpected medical condition or disability can make life insurance much more costly if you wait until later in life. having guaranteed future insurability, ensures your child will be protected, regardless of future health.Some life insurance contracts may offer a guaranteed insurability or guaranteed purchase option for juvenile policies. This rider works by giving your child the option to periodically increase their amount of coverage later in life. If a child’s health changes later, they will still be able to add more life insurance coverage based off the same health class they were originally placed in.

locking in low rates

a life policy is most affordable when your kids are young, even newborns. Buying coverage now allows you to lock in a lower premium for the life of the contract.

when is the right time?

Ideally 14 days after birth you typically will find the lowest rates available, but you should obtain a policy at least before the child turns 18 years of age. Purchasing life insurance before this milestone adds security in the event that the child unfortunately develops a serious illness or becomes ineligible for coverage later in life.The Cash value element provides the potential to help fund their bright future. There are a couple options of permanent life insurance you can choose from that offer potential cash value benefits that either you or your child can access during their lifetime.

policy options

  Choose the type of insurance that suits your family's needs. Depending on your goals for the coverage, you may choose from options such as these:Whole life insurance

  Whole life insurance offers coverage for their lifetime as long as premiums are paid. It also provides guaranteed cash value growth regardless of market performance.Universal life insurance

  Universal life insurance offers permanent protection as well, but there are more features you may choose to customize, such as flexible payment options.  keep in mind that certain policies include at no additional cost a feature called living benefits. with living benefits you can gain access to funds in the event your child become chronically sick or critically injured.

• Consultation

When protecting your business, you may want a life insurance policy that covers a variety of scenarios. As a small business owner, there’s often a long list of business expenses that need to be paid in the event of your death.

> Rent or mortgage payments
> Inventory
> Loans
> Vendor payments
> Payroll
> Utilities
> Other daily expenses

Buying life insurance can give you some peace of mind knowing that you are prepared for the unexpected. obtaining a policy will help support both your family and your business partner if you were to pass away. taking out a life insurance policy on a partner or other key employee can make a huge difference in the outcome for your company, and family.

policy setups

Business owners utilize life insurance to provide them access to funds when it’s needed most, like the sudden passing of a business partner. here are a few ways to go about it.

Individual Life Insurance  With individual life insurance, you and your business partner can take out a life insurance policy on each other in case either of you die. In the event of your or your business partner’s death, the benefits of the policy are paid to the surviving business owner. This type of life insurance for small business owners lets the surviving business partner continue running the business without financial hardships, protecting them from worries about losing the business entirely.  It’s important to note that some business owners opt to have two different policies: a life insurance for business partners policy, where their business partner is the beneficiary, as well as a separate personal life insurance policy, where their spouse or family member is the beneficiary. This way, both your business partner and your family are covered financially.

Key Person Life Insurance  Key person insurance is a type of individual life insurance where the business, rather than a partner, is the beneficiary. Key person life insurance provides your business with funds if an essential employee, such as the business owner, happens to die. Premiums for the life insurance coverage may be paid through the business, for the benefit of either the company or the owner’s family.”  Setting up key person life insurance, where you’re listed as the key person, can help replace any lost revenue and will allow your business partner time to sort out next steps for the business. In return, taking out key person life insurance on a partner can make sure you’re protected.Buy-Sell Agreements  A buy-sell agreement is a contract between you and your business partner. so in the situation where one of the partners dies, a buy-sell agreement allows the surviving partner to buy out the deceased business owner’s share of the business.  To make sure the partner has the funds to purchase the share, some business partners take out life insurance policies on each other. as an example, say your buy-sell agreement stated that the surviving partner could buy the other half of the business for $1 million. Your partner could take out a $1 million life insurance policy on you and list themselves as the beneficiary. If you died, your partner would receive the $1 million death benefit providing them the ability to buy out the company from your family or estate.

how much coverage do i need?

  How much life insurance you need depends on what you want your life insurance to cover. Your life insurance policy can cover your family, your business, or both.

Coverage for Your Family

  When protecting your family, you’ll want a life insurance policy that can help replace your income and allow your family to cover household expenses, any debts, college tuition, mortgage payments, etc. One rule of thumb for an individual policy is to buy 7-10X your annual income in life insurance, but the amount needed is different for everyone.

coverage for the business

To find the right coverage amount, think about the potential financial impact of your death on your business. some strategies to use are:

> Buying a multiple of the business partner’s salary, such as 5X their income> Covering the amount needed to buy out the deceased partner’s share of the business> Calculating the cost needed to keep the business running until you can hire and train a replacement. plus a little cushion for time it may take to get it all done.

• Consultation