Life insurance for you and your family
Harleysville Life insurance products can be used in a wide variety of ways to meet all
kinds of needs of you and your family. Here are some ideas:
Mortgage protection
Want to keep your house as your home in the event of the death of the
primary breadwinner? You can use life insurance in conjunction with your homeowners policy to develop a comprehensive
mortgage protection package for you and your family.
Debt protection
No, this doesn’t mean you buy life insurance to pay off your credit card debt. What
it does mean is that you can use insurance to pay off short- and long-term financial
obligations if you or another significant wage earner in your family dies. Coverage is
available from as low as $5,000 to pay off short-term debts—like a car or
boat—to $100,000 and more to pay off mortgage obligations.
Retirement income
Supplemental retirement income can come from several sources:
- Roth IRA—Allows workers to make non-deductible contributions (up to
$4,500 per year, depending on age) that can turn into a tax-free stream of income at retirement.
- Traditional IRA—Contributions are often tax-deductible and you only pay taxes when
you begin receiving your retirement income.
- Cash value universal life plan—By using Harleysville’s Pro
Performer policy,
you can combine valuable life insurance protection with a cash value fund for your
retirement.
Children’s insurance
With Harleysville’s Celebration One single-pay term plan, you can protect your
child’s future insurability. We’ll cover a child from 15 days after birth to the
age of 25, so the child won’t have to worry about being able to obtain coverage if a
health problem occurs later in life. And, when the child reaches 25, he or she can convert
the term policy to a permanent insurance plan for up to five times the initial face amount
without providing medical evidence.
Estate planning
Afraid your heirs will lose the bulk of their inheritance to estate taxes? You can buy a
life insurance policy to provide your children with the cash they’ll need to meet
estate taxes without liquidating the entire estate.
Survivor income
This might better be called "replacement income" coverage because it’s
designed to replace the primary breadwinner’s salary for three to five years,
allowing the family to avoid sudden changes in lifestyle during the period of adjustment
after death. This coverage can be either term or permanent insurance depending upon other
financial goals.
Supplemental savings
Looking for a safe plan to sock away those periodic extra funds? Consider a non-qualified
annuity. There are basically no limits on the amount you can contribute, and the fund
receives a competitive current interest rate in a no-load contract.
Final expenses
It’s an expense all of us will face: funeral, estate settlement and
final medical bills. Don’t leave your loved ones bills—leave them
memories. The Harleysville Horizon Whole Life plan provides up to $50,000 of
cash value insurance without a medical exam. Premiums are guaranteed never
to change during the life of your policy and you will have a full death
benefit from the first day the policy is in effect.
Personal protection
This is the most typical use for life insurance—replacing lost income and providing
heirs with funds for the expenses associated with burial and settling the estate. For
general protection, you can use a term policy or a universal life policy,
which combines the protection of term insurance with a cash value account..
If you can't find what you're looking for or if you have additional questions, contact an agent in your area or get in touch with our office nearest you.
Note: These coverages are not available in all states. In the event
there are discrepancies between this information and your policy, the terms of your policy
will govern. Consult your independent insurance agent for more information.
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