TERM INSURANCE?

                PERMANENT INSURANCE?

"A" is for "Always Know What You are Buying"
Below are a few brief explanations of the more popular types of life insurance. Read our Life Insurance Glossary for additional information on life products available in today's marketplace.

There are many variables with each type of product, so when shopping for life insurance be certain that you fully understand the product that you are purchasing prior to completing and submitting your application for coverage.

Another important step is choosing the right company. The company should be in good financial standing and have the ability to pay their claims. There are several independent companies that rate companies on these factors; their links are below.

· A.M. Best
· Duff & Phelps
· Standard & Poors
· TheStreet

MEA Financial Services works with several companies and has several plans of insurance available to help you meet your life insurance needs.

We offer both group and individual term products and universal life insurance, a permanent life product at competitive prices. Call us for a price illustration at 1-800-292-1950.

Why You Should Purchase Life Insurance.
It's an essential part of any financial plan. Most individuals purchase life insurance to replace income lost due to the death of a wage earner in the familyand/or to eliminate debt so that their dependents are not burdened with it. This could be important as it could mean that family assets would not have to be sold to pay taxes or outstanding debt. Another important feature of life insurance is that there is no federal income tax on the proceeds paid to beneficiaries.

Life Insurance After Retirement
Many people may not realize that the life insurance coverage provided by their employer may cease at retirement or just don't worry about it as retirement still seems so far away. For some this may be the only life insurance coverage they have.

If an employers life insurance plan is convertible at retirement, it is typically to a permanent life insurance product. Permanent life insurance is a higher cost than term, and as the conversion is most commonly available without proof of insurability the cost is further inflated due to the increased risk the insurer bears. These policies are issued at the then current age, which also will account for a higher premium. Additionally these policies may increase in cost each year due to increasing age of the insured.

The convertibility option at retirement can be of critical importance to some as it may be the only option for them due to declining health or other underwriting criteria that would cause them to be ineligible for new coverage. Therefore a conversion option without proof of insurability can be a welcome safety net. However, for those who are still in good health, researching other life insurance options can be cost saving.

Taking the time to find out if your policy is convertible at retirement is worthwhile. You never know when your life circumstances may change to cause you to have a continuing need for coverage.

If you find that your policy is not convertible and you are now in good health, it may be wise to investigate other insurance options. The cost savings to you can be considerable.

Group Term Life
Members may apply for the MEA-sponsored Group Term Life insurance for themselves, their spouse and their dependent children under age 25. The Group Term Life is a "decreasing term life insurance policy" with competitive premiums and an excellent range of coverage choices.

Click on our Group Term Life Insurance "GTL" link here or in the drop down menu above for our online brochure, rates and an application.

Individual Level Term Insurance
For needs that span 30 years or less, term insurance can be an affordable means for qualifying individuals to solve many of today's life insurance needs. We offer competitive individual level term life insurance through several financially strong companies for 5, 10, 15, 20 and 30 year terms. Benefits include:
· guaranteed rates for ten years to 30 years depending upon the plan of insurance
· guaranteed renewable regardless of your health up to age 95
· guaranteed conversion to an eligible whole life or universal life policy...offered by most companies without a medical exam. Some restrictions may apply.

For a free no-obligation quotation complete our online request for life insurance quote.

Return of Premium Term Life Insurance (ROP)
The concern most expressed in regards to term life insurance policies is that once they’re done...they’re done. The money you’ve put into the policy for life insurance protection is gone once the policy has completed the planned term of coverage. Request a quote online today!

Universal Life Insurance
Universal life insurance is a policy that develops a cash value (dependent upon the amount of cash you put into the policy and interest rates) and is commonly referred to as permanent insurance. These policies provide a death benefit and an investment component. The cash value of the policy can be used to pay future premiums, or withdrawn or borrowed from to help fund retirement, education or other needs.

Universal life insurance is the most flexible of the permanent life insurance policies. It is a combination of term insurance protection with the accumulating cash value of whole life. This plan of insurance can often increase in value faster than a traditional whole life policy in that it's interest rates tend to follow the markets.

Premiums are flexible. As long as premiums are paid and the cash value of the policy is substantial enough to keep the policy in force, the policy will not lapse.

For a free no-obligation quotation complete our online request-for-quote.