Life Insurance & Benefits

Protect Today, Prepare for Tomorrow!

What You Get

Individual Life Insurance

Goodwill Financial can help you make sound, informed decisions about issues affecting your life, health and insurance needs. Our philosophy is to fully understand your objectives and then translate them into solutions that provide assurance and peace-of-mind.

Life insurance from Goodwill Financial can help you secure your family’s financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.

There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:

Life Insurance with Living Benefits

Living Benefits – life insurance you don’t have to DIE to USE.

Most people purchase life insurance to provide a legacy of financial security to their loved ones at the time of their death. This kind of life insurance extends the benefits for you if you need them while you’re still living.

This type of coverage allows you to accelerate your policy benefits and get much-needed money in your hands if you are to suffer a terminal, chronic, or critical illness – such as heart attack, stroke, or cancer diagnosis – or in case of a critical injury.

Whole Life Insurance

Whole Life Insurance provides permanent protection for the whole of life – from the date of policy issue to the date of the insured’s death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy’s life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child’s education, or cash surrender value if the policy is ever cancelled.

These products are continually changing and we can provide you with the latest information and policies available!

Universal Life Insurance

Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments – i.e., the more you pay, the less time you will need to pay. Your premiums cover the insurance part also the savings or investment element and the expense part. The stated interest on the investment portion changes along with movement in interest rates; moves in 1/4 % interest steps are typical as banks and other financial institutions make similar moves.

Term Life Insurance

Term Life Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 20 years. Other policy life periods are available, including 1 year annual renewable term.

Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Life Insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.

Term Life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.

Final Expense Insurance

Final expense insurance helps families cope with the loss of a loved one by guaranteeing all funeral and burial expenses will be paid for. With so many different options to choose from, the cost for a service, burial plot, casket, and headstone can range anywhere from $1000 to $10,000, and the grieving period is no time to be making complicated financial decisions.

Final expense insurance is a perfect alternative to traditional life insurance because it is more affordable, no medical exam is required, and premiums will not increase over time. In addition, final expense insurance can provide funds to your family within 24-48 hours of your passing whereas traditional life insurance plans can take weeks to pay out. This instant, short-term monetary relief can be crucial for staying current with mortgage payments and covering day to day living expenses.

No longer a luxury, final expense insurance is a necessity. So what are you waiting for? Give yourself and your loved ones peace of mind today.

These products are continually changing and we can provide you with the latest information and policies available!

Fixed Annuities

A fixed annuity can help you accumulate tax-deferred earnings as part of your overall retirement plan. Annuities offer the opportunity for lifetime payments and tax-deferred earnings, and provide a guaranteed death benefit for your beneficiaries. All guarantees are backed by the continued claims-paying ability of the issuing insurance company.

You may want to consider investing in an annuity as part of your long-term financial strategy if:

  • You’re in a higher tax bracket, and want to defer additional income.
  • You’ve reached your deductible limit on all your retirement accounts and wish to save more for retirement.

An annuity is different from most other retirement savings vehicles — it’s actually a contract between you and an insurance company. In return for making one or more premium payments, the insurance company agrees to provide you an income stream — usually during retirement. You can elect to receive payment all at once or as a series of payments, even for the rest of your life.

Individual & Family Health Insurance

Individual health insurance programs are designed for individuals and families who cannot obtain health insurance through an employer. Due to the continually rising cost of medical care, it has become more important to provide health insurance for you and your families.

We offer health insurance programs to individuals which offer extensive coverage as well as high-deductible programs which are designed to protect against catastrophic financial losses.

Individual Disability Insurance

Individual Disability Income Protection is a must for a business owner, and highly recommended for executives. If you are a business owner, you should consider purchasing both group and individual policies, if possible. As an executive, you should be sure to obtain group coverage if it is available. Only forty-three percent of large companies provide group long term disability insurance.

Your chances are even less likely to get long term disability insurance if you work for a small company. The cost of a plan provided by your employer is usually less than you would pay for an individual disability policy and often you can get coverage automatically without having to qualify medically. If your employer doesn’t provide disability insurance then you may want to consider an individual disability policy.

Or, you may need a personal disability insurance policy to supplement an employer group plan. Be sure to check the group provisions carefully: How long does the group disability insurance coverage last? How much is the benefit? Does the disability insurance policy cover bonus and commission income? Will the coverage continue if you leave that employer?

A typical Individual Disability Income Protection plan starts to pay benefits after you have been off work for 1 to 6 months, and pays benefits for several years or until retirement age, depending on the policy.

Individual Dental Insurance

Individual Dental Insurance is available to individuals and families that are not covered on group dental insurance. For people without dental insurance, cost often stands in the way of getting the care they need to maintain the health of their teeth and gums. Even for routine preventive care, a trip to the dentist’s office could mean a substantial amount of money out of your pocket.

A freedom-of-choice plan allows you to see any dentist you wish. However, this plan does impose 6- to 12-month waiting periods for some services. This is not the best plan for an individual who needs comprehensive coverage within the first 12 months. However, if dental coverage is desired for a long period of time, and there is no rush to receive the major benefits, this plan may work for you.

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Location

579 W North Ave Suite 300, Elmhurst, IL 60126, USA

Phone: (630)-785-2412

Toll Free: (855) 941-6655

Fax: (630) 785-2426

Email: info@goodwillfinancial.com

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