LIFE INSURANCE
Life insurance is a way to protect your finances and secure your loved one’s quality of life after you’re gone. Some benefits include income replacement for dependents, inheritance final expense coverage, and a source of savings. We offer our clients a choice of term or permanent life insurance policies.
Term Life Insurance
Term life insurance provides coverage for a specific period—commonly 10, 20, or 30 years. If the insured passes away during the term, the policy pays a death benefit to the beneficiaries. It is typically more affordable and straightforward but does not build cash value. Term insurance is ideal for temporary needs, such as covering a mortgage or income replacement during working years.
Permanent Life Insurance
Permanent life insurance offers lifetime coverage as long as premiums are paid. This type of policy combines a death benefit with a cash value component that grows over time on a tax-deferred basis. Common types include whole life, universal life, and variable life insurance. Permanent insurance is often used for estate planning, wealth transfer, and providing financial security beyond temporary needs.
Premium Financing
Life Insurance
Premium financing is an advanced strategy where the policyholder borrows funds—often from a third party or financial institution—to pay life insurance premiums, usually for large, permanent policies. This allows individuals or businesses to secure substantial coverage without immediately liquidating assets or using cash reserves. Premium financing can optimize liquidity, estate planning, and investment strategies but requires careful risk assessment and professional guidance.
Disability Insurance
Disability insurance provides a portion of income payments to a person who can no longer work due to pregnancy, mental health, injury, illness or accident.
ANNUITIES
Let an advisor from Competitive Advantage show you how to use annuities as part of a diversified financial plan. Annuities provide a simple and secure stream of income, no matter which way the stock and bond markets are moving.
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Similar to an insurance policy, you pay an insurance company a monthly premium, which they’ll invest. Eventually, the insurance company will use the earnings to pay you back. It’s up to you how much you pay into the annuity, how much you collect, and how long you’ll receive payments.
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Let us explain how annuities can put your money to work for you and your employees.
Index Annuities
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Fixed annuity
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Provides a specified guaranteed benefit amount
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Potential for tax-deferred interest earnings based on index performance
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Opportunity for guaranteed income for life
Variable Annuities
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Beneficiary and optional income protection
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Portfolio growth potential based on market performance
Fixed Annuities
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Guaranteed interest earnings
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Principal protection
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No market participation
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Opportunity for guaranteed income for life
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"At Competitive Advantage Life & Annuity, LLC, we understand the intricacies of life insurance and can provide guidance selecting a plan that suits your budget and situation, and that will help your family when they need it most.”
