51 Main Street
Waterville, ME 04901
155 Center Street #10
Auburn, ME 04210
Toll Free Phone: 800-244-9046
Toll Free Fax: 866-274-0005
There are several needs for life insurance including personal needs, business needs, and estate needs. When purchasing life insurance for personal needs you should consider debt, educational needs of your children (if applicable), the loss of income to your spouse and/or children, cost of day care for young children and funeral expenses.
Business owners have special life insurance needs ranging from funding purchase and sale agreements, securing a loan from a bank, providing protection for a key person or providing deferred income to a key employee.
For estate planning, special types of policies such as Survivorship or Second To Die policies should be considered. Will I qualify? Many people believe that they must be in excellent health to qualify for life insurance. While your health may affect the price and availability of coverage, GHM Agency represents carriers that specialize in life insurance for people in most age ranges who are in perfect health as well as people who are in less than perfect health.
Term Life Insurance
Term life insurance is typically the least expensive kind of life insurance. You generally lock in rates for a pre-determined period of time such as 10, 15, 20 or 30 years. You can usually purchase as little as $25,000 of coverage, up to $5,000,000 or more.
Whole Life Insurance
Whole Life Insurance is usually very conservative. Insurance carriers guarantee a level death benefit at a premium guaranteed for life. At any time during the life of the policy you can surrender the contract and receive a pre-determined amount of cash known as cash value.
Universal Life Insurance
Universal Life Insurance is a combination of term insurance and cash saving. Most policies have a guaranteed interest rate that will earn interest on the cash value of your policy but also provide the potential of a higher interest rate depending upon market conditions. Universal Life Policies are very flexible and allow the owner of the policy to modify the face amount or payments throughout the life of the contract.
Disability Income Protection
Disability Insurance is one of the most overlooked types of insurance, but probably one of the most important ones. We insure just about everything we own but often times the one thing that makes it all happen, our income, is overlooked when it comes to insurance. Disability Insurance protects our income and assures us that the financial aspect of our lives will be protected. Let our agents run a disability proposal for you today.
Long Term Care Protection
Many people also often overlook this important coverage. Long Term Care insurance provides a source of funds to help pay for expenses related to nursing homes and assisted living facilities, among other similar expenses. GHM Agency offers several Long-Term Care insurance products.