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LIFE INSURANCE

Protect What Matters Most

At Penny Lane Financial we also focus on creating tax diversification to hedge against higher tax rates in the future while implementing strategies for business, charity and individual needs.  Understanding the distribution side as well as the accumulation side of money, will not only position you on a path to better money strategies, but also on a path to a simpler and better life. 

Life Insurance can protect you in more ways than just providing for your loved ones after you’re gone.

Life Insurance as a financial strategy – Indexed Universal Life Insurance

Indexed Universal life (IULs) are a type of universal life policy. The universal portion means that premiums are flexible and the components of the life insurance policy (death benefit, savings element and premium) can be altered throughout the contract. Universal policies are also permanent insurance policies, like a whole life policy, although there are some major differences between universal life and whole life. One difference lies in the flexibility of universal life and the inflexibility of whole life.

 

Within universal life policies, there is a cash component as well as an insurance component. It is the cash component that makes IULs differ from VULs (Variable Universal life) and ULs (Universal life). The cash bucket inside of an indexed universal life policy grows as a result of index performance (and the indexes are usually selected by the client or advisor each year). The indexes will usually reflect broad market indexes like the S&P 500, DJIA, etc.

As with all contracts and policies there are many things to consider and understand. We want to educate you and help you to pick the right coverage for you and your family. No question is too small or unimportant. Give us a call. We’re here to help.

Mother and Daughter Love
  • Provides for those that depend on you for their income.

  • Relieves the burden of having to assume your debts without a way to pay them.

  • Allows your family to stay in their home and keep the lifestyle they are accustomed to.

Family at a Beach

Life Insurance living benefits

  • Tax-free access to your cash accumulation

  • Protection against Market loss

  • Accelerated death benefits for critical, chronic or terminal illness.

Reviewing Documents

Some things to ask yourself

  • Who are my beneficiaries?

  • Have I set up my insurance to take care of my children if both my spouse and I pass away?

  • What is the death benefit?  Will it cover my debts and my family’s needs comfortably?

Whole Life Insurance does not expire at a given age, and acts like an investment account with small returns. You can also “draw” on your whole life insurance policy if you need cash for a large or unexpected expense.  As a result, Whole Life Insurance coverage is more expensive than its counterpart, Term Life Insurance.

 

Term Life Insurance costs less, but expires at a certain age, depending upon your policy.  It was designed as an affordable alternative to Whole Life Insurance, since the insurer is betting that you won’t pass away at a young age, therefore it is less likely they will have to pay out before the policy expires.  

Whole Life  Insurance VS. Term Life Insurance

Not sure which one to choose?
Simply contact us, we'll give you guidance
Get expert advice from a local and friendly company. 
CONTACT US
ADDRESS
OFFICE HOURS
PHONE
EMAIL

1804 W Union Ave, Suite 202, Tacoma, WA 98405

Monday to Friday

9:00 am - 5:00 pm

253-327-1177

You can also visit us; we'd love to meet you.
Penny Lane Financial - Trust and Expertise in Financial Services.

Important Disclosures

Equal Housing Lender:
Penny Lane Financial, LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.

NMLS Consumer Access:
Our NMLS number is 1905686. WA – MB1905686 AZ – 1034711  You can verify our licensure status and find more information about our company at the NMLS Consumer Access website: https://www.nmlsconsumeraccess.org/ WA – MB1905686 AZ – 1034711

Terms and Conditions:
The loan terms and conditions provided by Penny Lane Financial, LLC are subject to change without notice. All loan approvals are subject to underwriting guidelines and credit approval. Not all applicants will qualify. Interest rates and annual percentage rates (APRs) are based on current market conditions and are subject to change.

Mortgage Loan Information:

  • Loan Types: We offer a variety of mortgage loan options, including fixed-rate mortgages, adjustable-rate mortgages (ARMs), FHA loans, VA loans, and jumbo loans.

  • Interest Rates and APRs: The interest rates and APRs provided on our website are estimates and are subject to change based on market conditions and borrower qualifications. Please contact us for the most current rates.

  • Loan Fees and Costs: Mortgage loans may involve fees, including origination fees, appraisal fees, credit report fees, and other closing costs. These fees will be disclosed to you during the loan process.

Consumer Rights and Responsibilities:
As a borrower, you have the right to receive a Loan Estimate within three business days of submitting a complete loan application. This document provides important details about the loan terms, estimated costs, and other important information. You also have the right to receive a Closing Disclosure at least three business days before your loan closing, which outlines the final terms and costs of your loan.

Homeownership Counseling:
If you are experiencing financial difficulties or have questions about your mortgage loan, you may seek assistance from a HUD-approved housing counseling agency. For a list of HUD-approved counseling agencies, visit the HUD website at https://www.hud.gov/program_offices/housing/nationally_hud_approved_housing_counseling_agenciesdirectory

 

Insurance License:
Penny Lane Financial, LLC holds life, disability, property and casualty insurance licenses in WA and AZ, NPN #17702278. We are committed to providing comprehensive financial services, including insurance products, to meet the diverse needs of our clients. Regulated by Washington State Insurance Commissioner at https://www.insurance.wa.gov/

Privacy Policy:
We are committed to protecting your privacy and ensuring the security of your personal information. For details on how we collect, use, and safeguard your information, please review our privacy policy here.

Contact Us:
If you have any questions or need further assistance, please do not hesitate to contact us at 253-327-1177 or email to vip@pennylanefinancial.com.

Penny Lane Washington

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Penny Lane Financial NMLS #1905686 WA State, NMLS #1034711 AZ State

 

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EQUAL HOUSING LENDER

 

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