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Insurance

Lowell Five offers a number of insurance options to provide security for you and your family from an insurance check from KAF Advisors or finding the right life insurance policy for your needs.

SBLI, – Savings Bank Life Insurance of Massachusetts

Since 1907, SBLI has provided families like yours the financial protection they need, at an affordable cost. Policies for term and whole life coverage may be purchased through Lowell Five’s Investment and Insurance Management department.

Guaranteed level premium

  • Lock in a low rate for the policy term you choose

Whole Life

  • Financial protection with payments that never change.
  • Builds cash value without being subject to taxation.
  • Coverage is generally for a lifetime
  • Can often be annuitized – meaning it guarantees you an income for life.

Term Life

  • Fixed amount of financial protection for a fixed period of time and fixed cost.
  • Premiums cost less than Whole Life
  • Can sometimes be converted into a Whole Life policy, but typically for a higher premium

For example, you are likely to have extra term insurance if you have small children.  A 20year term policy of $1M would mean coverage until they are adults.  After that your need for insurance won’t be as high.  You might also have a smaller Whole Life policy that would pay a benefit to your spouse on your death for life.   You can also usually borrow against the “cash value” of a whole life policy in case of terminal illness.

SBLI also offers a number of annuity options.  Annuities pay a set amount of income for a set period and are a good way to insure some income in retirement.    Learn more about annuities.

Every family or small business is unique. Whether Term or Whole Life or a blend of the two is right is something Lowell Five’s insurance specialist can help you decide.

KAF Financial Advisors Insurance Check

You can also get an insurance check as part of a financial planning relationship with KAF advisors, Lowell Five’s Financial Planning partner.  They can help you find out if you have enough insurance, the right kind or perhaps even too much if your situation has changed.  This is especially helpful for small business owners or if you have minor children, or older ones leaving the nest.

Common reasons for buying Life Insurance

  • Protecting your family from lost income
  • Covering child care expenses
  • Paying for your children’s higher education
  • Supplementing your spouse’s retirement income
  • Leaving a legacy
  • Covering your funeral expenses
  • Insuring your business against the loss of a critical employee

 

The products offered: (i) are not FDIC insured; (ii) not deposits or obligations of Lowell Five Bank or its affiliates; (iii) not guaranteed by Lowell Five Bank or its affiliates; (iv) not insured by any federal government agency; (v) may go down in value.

Lincoln Investment and Lowell Five Bank are not affiliated. Advisory services offered through Capital Analysts and Lincoln Investment. Registered Investment Advisors. Securities offered through Lincoln Investment, Broker/Dealer, Member FINRA and SIPC. www.lincolninvestment.com. KAF Financial Advisors, LLC and the above firms are independent and non-affiliated. Legal services associated with estate planning, tax or social security claiming are not offered through, nor supervised by, The Lincoln Investment Companies.

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