Do you love the feeling you get when you buy something, and you feel you got more than your money’s worth?
Me too. In fact, I love that I get that feeling when I think about our family’s life insurance policies. Now, some people would not expect that statement to be made about a life insurance policy, however there are some policies where this statement is absolutely true. So, are all life insurance policies the same? The simple answer is, no. Let’s talk about why.
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Are all life insurance policies the same?
First of all, we represent multiple insurance companies because everyone has a different and unique situation when it comes to their life insurance needs. We understand that based on your specific needs, and what you are trying to accomplish, one insurance company may not be the best for you while another might be the perfect fit. So, we chose to represent multiple companies in order to bring you the best value for what you are getting with your policy, instead of limiting you to only one option.
For example, I have several different insurance policies on myself. Why? Because over time my situation and goals have changed, and I have used various companies because of the different benefits they offer, in addition to the check my family will get when I die. Let’s talk more about one one of the policies I have that may benefit you like it has done for my family.
See which companies we represent on our website here: Companies We Represent
Additional Benefits of Life Insurance
One of the policies I have is with a company that offers more than just a check to your family when you die. My favorite part is that it doesn’t cost me any more to use these benefits… they simply come along with the policy itself. Here is what I get in addition to the life insurance alone with this particular company.
1. Scholarships
How neat would it be if your policy provided the opportunity for your children and grandchildren to apply for scholarships toward college? This particular benefit is for the children and grandchildren of a policy holder, and allows them to apply for a four year scholarship of $2,500 per year. That is a total of $10,000 toward a college education for one child alone. Of course, like any scholarship, the applicant will need to hold a certain GPA and provide some community service. I have seen many of people receive this scholarship over the years. As a matter of fact, I have even seen adults go back to school and apply and be awarded the scholarship as well. So if you, the policy holder, decides to go to college, you can apply too. For us, it just made sense because we have three kids. So if all of them take advantage of this benefit alone, that’s $30,000 dollars in scholarship money. Nobody has to die to get it either.
2. Orphan Scholarships
These scholarships are given to the children of the policy holder automatically if one or both parents die. In the event of the death of one parent, a $1,500 per year scholarship is given to each child. If a single parent dies, the scholarship given is $3,000 per year, and should both parents die it pays $6,000 per year per child in scholarship money.
3. Orphan Benefit
Have you taken the time to sit down and think about who will care for your children should both parents die? For us it was not an easy decision to make. Though there are many factors in determining who will care for your kids if they are not old enough to do so themselves when you die, one major factor is who will be able to afford to do so. With this company, if my wife and I both die, the legal guardian of our children will get $900 dollars per child per month until the child is 18 years old. Again, we have three kids so that’s $2,700 a month for the legal guardian to help with food, clothes, and other needs for our children. Another way to think about this benefit is that I want my life insurance check to go to my kids. So because I have this policy, not only will they each be provided for with an income every month, they will also get the $6,000 in scholarships for four years to go to college, and the life insurance that I purchased can be saved and given to my children later.
4. Community Activities
How cool would it be if your life insurance policy offered fun family experiences for free? As a policy holder with this specific company, you can view sponsored events in your area that lists various activities in your area. Find one you think you would enjoy, and register for up to four tickets to the event for free! Our family has attended many of these events including baseball games, county fairs, Daytona NASCAR Races, Broadway Shows, magic shows and more. On most occasions, the money we would have spent on tickets for these events was more than what we paid to have the policy itself.
What if you have interest in an upcoming event that is not on the list? You can apply to host the event. Simply coordinate with the venue and apply through the insurance company’s website for them to sponsor it for you and other policy holders. Then all you have to do is hand out the tickets before the event and enjoy!
5. Community Grants
Do you have a cause that is near and dear to your heart? This is one we do that we do not talk enough about, so I want to share so other policy holders will do it also. You can apply to receive up to $2,000 for a charity of your choice. Simply list the items you plan to purchase and donate to the charity and submit an application for approval. When your grant is approved, the company sends you a credit card and you buy what was on the list. For example, we chose to apply for a grant for a foster care home. With the grant money we donated backpacks with notebooks, pencils, and other school supplies for the children in the foster care program. We also received a grant to donate daily care items like toothbrushes, toothpaste, deodorant, etc., for the women in their program. We asked simply asked the shelter what they needed and we did our best to fill it. So if that interests you, this company allows you to apply for either a Community Grant or Community Event up to four times a year.
6. Access to a Will and Power of Attorneys
Do you have a will and/or power of attorney set up yet? This benefit allows you access to a special website where you can print off a free will and power of attorney paperwork. You simply fill it out, and then take it to be notarized.
For my wife and I, adding a policy like this was a no brainer. Of course you do have to qualify for a policy, like any other company, but when you get approved, you can experience that feeling that your are maximizing your value in your policy too. If you want to learn more about this company and policy, reach out to us or schedule time to talk more about it via our online calendar. We look forward to serving you.
Mark Womack
https://eaglevisionfinancial.com