Protect Your Loved Ones with Life Insurance

Everyone deserves a secure financial future, which is what makes life insurance so important to have. Whether you are starting a family, buying a home, or are getting ready to retire, a life insurance policy can help give your family financial protection in the event that you are no longer there to provide for them. Life insurance can help pay bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.

It works by the policyholder paying a regular premium in exchange for a lump-sum death benefit that is paid to the policyholder’s beneficiaries. There are a variety of different life insurance options to choose from, which is why Growers Choice works with you to find the right life insurance policy for your lifestyle and budget.

Growers Choice provides life insurance to all of Michigan, including the following areas:

  • Bay County: Auburn, Bay City, Bentley, Essexville, Kawkawlin, Linwood, Munger, and Pinconning
  • Arenac County: Au Gres, Omer, Standish, Sterling, Turner, and Twining
  • Midland County: Coleman, Edenville, Hope, Midland, and Sanford
  • Saginaw County: Birch Run, Brant, Bridgeport, Burt, Carrollton, Chesaning, Frankenmuth, Freeland, Hemlock, Merrill, Oakley, Saginaw, and Saint Charles

Types of Life Insurance

Term Life Insurance | Growers Choice Insurance

Term Life Insurance

Term life is the most affordable type of insurance when initially purchased and is designed to meet temporary needs. Typically term life insurance policies are for 10, 15, 20, or 30 years. You make your premium payments during the term you’ve chosen, and your beneficiary will get your tax-free death benefit if you pass away.

With a term life insurance policy, you pay fixed premiums for the term you’ve selected to be covered. Your monthly payments will stay the same throughout your premium period. If something were to happen to you, whoever you choose as your beneficiary will receive the tax-free death benefit. In order to receive a policy, you may need to complete a life insurance medical exam so that your insurer can get an idea of how healthy you are.

Who May Need Term Life Insurance?

Term life insurance may be a good option if you have people (or even pets) who depend on you financially. You may want to purchase a policy that corresponds with how long they’ll be dependent on you. The tax-free payout can help provide financial peace of mind for your family. They can use this money to replace lost income, maintain a certain lifestyle and pay off any outstanding debts such as a mortgage. Get a quote today!

Benefits of Term Life Insurance:

  • Affordable coverage that won’t increase over time
  • Income tax-free payout
  • Protection for the period of time you want
  • Optional riders
Whole Life Insurance | Growers Choice Insurance

Whole Life Insurance

Whole Life Insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full-face amount will be paid out. Whole life policies provide the amount of life insurance coverage you buy at the start of the policy and remains the same throughout your lifetime, based on your age when you buy it. With a whole life insurance policy, you can borrow against the cash value if needed. However, keep in mind that borrowing against the cash value will reduce the death benefit paid to your beneficiaries.

Since Growers Choice Insurance works with various insurance carriers to find the best policy for you and your needs, some life insurance companies offer more extensive options for whole life coverage. Those policies include universal life insurance, variable universal life insurance, and fixed annuities/fixed income. Talk with a Growers Choice Insurance agent today to find out about these other policies and which one would be best for you and your family.

Who May Benefit from Whole Life Insurance?

Whole life insurance may be a good option for people who are looking for a policy that lasts your whole life, premiums that stay consistent over time, and a guaranteed, cash value with a fixed rate of interest over time. Get a quote today!

Benefits of Whole Life Insurance:

  • Consistent cash value growth
  • Consistent premium payments
  • Policy Customization
  • Tax-free death benefit

The Value of Life Insurance

• Income Replacement
According to the Life Foundation, half of all U.S. workers would struggle financially one month after losing an income. Would you like your family to receive money to replace your income?

• Education Costs
How important is it to make sure your children could afford to go to college if something happens to you?

• Mortgage Protection
Loss of a breadwinner can mean the loss of the family home. If they had to, would your loved ones be financially prepared to pay off the mortgage?

• Wealth Transfer
Do you want to leave behind a legacy for charity or loved ones? Since benefits are generally federal income tax-free and can pay out more than the premiums paid in, life insurance can be an effective way to do it.

• Final Expenses
According to the National Funeral Directors Association, the average cost of a funeral, health care bills and other final expenses average about $15,000. Can your loved ones cover those costs quickly if the worst happens?

Our Life Insurance Carriers

We work with many different insurance companies to ensure we find the right insurance rate for you, your needs, and your budget.

Allstate Insurance | Michigan | Growers Choice Insurance
Grange Insurance | Michigan
Integrity Insurance | Michigan
Kemper Insurance | Michigan
Liberty Mutual Insurance | Michigan | Growers Choice Insurance
Nationwide Insurance | Michigan | Growers Choice Insurance
New Era Health Plans | Michigan | Growers Choice Insurance
Philadelphia American Life Insurance | Michigan

Frequently Asked Questions

Who needs life insurance?

Generally speaking, if you have dependents or are married, your family can benefit from you having a life insurance policy. Life insurance offers peace of mind by ensuring that your loved ones will be taken care of in the event of your untimely death. Plus, payouts are tax-free.

Why should I get coverage now?

Rates tend to go up as you age. Buying a policy when you’re younger lets you lock in a lower rate.

How much life insurance do I need?

This depends on what you want to leave when you’re gone. There are two common methods for calculating the amount of life insurance you need: lump sum and income replacement. Your Growers Choice Insurance agent will help you figure out how much coverage you need.

How much does life insurance cost?

The cost of your life insurance policy is dependent on a variety of different factors, ranging from your age, gender, location, and health.

Why is term life a good option?

With term life insurance, you’re only paying for the years where the need is greatest (when your kids are younger or in college), and it is usually the most affordable type of insurance.

Is my life insurance policy through my work enough?

Life insurance through your employer is not portable, so it won’t come with you if you leave the job. Also, the amount is often not enough to meet people’s protection needs.

How can life insurance help protect my family?

Life insurance can help protect your family members when they suffer the loss of a breadwinner or stay-at-home parent. Life insurance allows a family to help maintain its standard of living by providing income-tax-free money to help pay for funeral expenses, pay off the mortgage, set aside college tuition for the kids and help provide financial peace of mind after the loss of a loved one.

Can life insurance be affordable on a tight budget?

It certainly can. The misconception about the price of life insurance is the main reason many people opt-out. Consumers think life insurance costs nearly three times the actual price, according to a report by the nonprofit Life Happens. Premiums depend on many factors, including your age and health, so it’s advised to look into life insurance now rather than waiting until you are older.

Can I adjust my life insurance plan or is it set in stone?

It depends on the type of life insurance policy that you have. Call us at 989-671-1186 to determine the right type of life insurance policy for your needs.

What does life insurance pay for?

Life insurance covers most causes of death, including natural and accidental causes, suicide, and homicide. However, some caveats may prevent your beneficiaries from receiving their death benefit.

What Our Clients Are Saying…

A.W.

“My flood insurance premium was $1400 before I found a premium with Growers Choice for $400 / year.”

P.K.

“Good insurance agency. I have been working with Dave for 20+ years and he has always been straightforward and honest.”

J.E.

“Very good crop insurance company. Very custom service and very friendly and easy to work with!”

Karrin D.

“Great experience ever!”

Tj N.

“Dave takes care of our business. He is the best! He beat our last insurer by almost $100 a year! Plus, we like keeping our needs local. When I had a water issue last year Dave reached out without me even going to him. He knows how to take care of his customers. He and his crew are first class!”

Jason P.

“I’ve recently had the pleasure of working with Katie an Insurance Agent at Growers Choice. For the first time in my life I found myself shopping for medical insurance and she was able to help me meander though the confusing mess of it. She was efficient, friendly, and more than helpful along the process. My interaction with Katie alone would warrant a return of business and recommendations. I’ve also been able to work with another Insurance Agent, Spencer who has been a huge help as regarding changes/updates to my business with them. More than satisfied with Growers Choice!”

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