Mount Prospect Life Insurance

Quality Protection For Your Needs In The Northwest Suburbs and Northshore

Term, Whole, Universal, Annuities, and More

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How much is life insurance?

Call us now at 847.264.4644

Excellent Coverage. Multiple Carriers. Dedicated Agent.

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Life changes — so should your policy

For each of our neighbors in Illinois, the right life insurance will be unique for you and dependent on your personal and financial needs. As your life changes, your life insurance coverage may need to change to adapt to your current needs. Some life transformations that may require a policy “tune-up” and our help at Held Insurance Agency include:

  • You recently got married or divorced
  • You have a new child or grandchild
  • You have opened or expanded a business
  • Your health or your spouse’s health has deteriorated
  • You are providing care or financial assistance to a parent
  • Your child or grandchild requires assistance or long-term care
  • You recently purchased a new home
  • You are planning for a child or grandchild’s education
  • You are concerned about retirement income
  • You have refinanced your home mortgage in the past six months
  • You or your spouse recently received an inheritance
  • You have a sizable estate

We are committed to serving you

Held Insurance Agency knows that in life, there are many unique insurance needs! To talk with one of our helpful team members about your life insurance needs, contact us today.

Illinois — What you need to know about life insurance

Held Insurance Agency can help you select the best life insurance coverage for your needs. There are several different types of life insurance products available, and the most common include:

Term Life Insurance - protects for a specified period of time. If you do not currently have life insurance, term can be a good place to start. It’s generally less expensive than permanent (whole) life insurance and is available in varying time periods with fixed premiums from a one-year (annual renewable term) to 35-year (level term) period. Furthermore, term life insurance is sometimes convertible to permanent coverage, providing you with flexibility as your needs change.

Whole Life Insurance - is a form of permanent life insurance that remains in force for your entire lifetime, provided that premiums are paid as specified in the policy. Whole life insurance can be an investment opportunity as many whole life insurance policies also build cash value over time.

Universal Life Insurance - is a form of permanent life insurance characterized by its flexible premiums, face amounts, and unbundled pricing structure. Universal life can build cash value, which earns an interest rate that may adjust periodically but is usually guaranteed not to fall below a certain percentage.

So what type of life insurance is best for you? Talk with the team at Held Insurance Agency today and we can assist in identifying the best protection for you.

What are the advantages of life insurance?

Having the right life insurance is essential to planning for your present and your future. Not only can life insurance assure your family after you are gone, but many life insurance options also offer other benefits and investment opportunities you can take advantage of while you are living.

Advantages of the life insurance death benefit: When you pass away, your life insurance provides income tax-free money to your named beneficiary or beneficiaries that can be used to pay funeral expenses, debt, tuition, estate taxes, or virtually any financial need. Your policy can also help provide security for your business by enabling partners to buy out the interests of a deceased partner and prevent a forced liquidation.

Advantages of Living Benefits: The cash value growth of a permanent (whole) life insurance policy is tax-deferred, meaning you do not pay taxes on the growth of cash value unless money is withdrawn. Loans or withdrawals can be taken against the cash value of a permanent life insurance policy to help with expenses, such as college tuition or the down payment on a home.

The right life insurance coverage for every one of our neighbors in Illinois is unique — talk with the Held Insurance Agency today to find out how to protect your family and your future with the right life insurance policy.

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