We offer a full array of life insurance products to protect you and your family.

What is the purpose of Life Insurance?  Easy answer:  what do YOU need money for?  Losing a loved one is difficult enough.  You may have to face the hardship of unexpected medical expenses, child support, a drastic reduction of income.  This is what Life Insurance does:  it provides money when you need it most.  Additionally, the money is provided to the beneficiary at a discount, which means you receive more money than you paid out.   Moreover, the beneficiary receives the money tax free.  The important aspect of choosing insurance is to find the right product with an adequate amount of coverage to fit your needs.

Life Insurance
Understand it.  How much can you afford?  Why do most people buy it?  What are the different types of coverage?  Many think it would be nice but it’s out of their reach.  Let us help you answer your questions.

Life insurance is a product with a very simple purpose. The purpose of life insurance is to fulfill the financial void that can be created when someone passes away. If a husband or wife passes away when there are still children in the home or a mortgage is not fully paid it can easily create financial hardship or the surviving spouse. The income that the deceased spouse provided needs to be replaced. Certain expenses such as child care may need to be added to the family budget. If there was a lengthy illness before the passing, there may be outstanding medical bills that need to be retired.

Life insurance is relatively inexpensive when one is young. As one ages, health conditions may deteriorate and the cost of life insurance goes up.

Underwriting

Most people purchase life insurance to cover a loss of income in a family or business.  The insurance company’s underwriters determine how much coverage they are willing to provide you and at what cost to you.  Here is an example.  The table below gives some guidelines followed by underwriters when determining how much life coverage a person can qualify for.  For example, a 25-year-old making $100,000 per year would be covered for $2.5 million. (Insert table)   As age goes up, it plateaus and goes down as an individual gets older. Along with that guideline, here are some other factors that an Underwriter has to consider: 

Lifestyle/Occupation:  Downhill skiier?  Race cars on the weekend?  Bull Fighter?  Insurance salesman?  NFL Quarterback?

Physical condition:  Overweight?  Height to weight ratio?

 Smoker?

Medical History:  Current health conditions?  Past health conditions?

Each insurance company looks at these same factors, but can underwrite differently.  This is why we provide you with many different choices when choosing the insurance company to fit your needs.

Contact MWI today so that you can determine the coverage that you qualify for.