Huntington Bank Personal Life Insurance

Hopefully, you wouldn’t have to ever use life insurance, however, that needed reassurance is so much more necessary in the case that the unexpected happens to you or your spouse. Huntington Bank Life Insurance is here to help provide financial support for those you care about, replace your income when you’re no longer there to provide for your family, protect the assets you’ve worked so hard on, and even plan for retirement. Get a personalized insurance program unique to you and your specific needs.

Editor’s Note: Availability currently only within the states of IN, KY, MI, OH, PA, WV, IL, WI.

Huntington Bank Life Insurance Coverages

• Dependent Life – Huntington Bank Life Insurance
  • Dependent Life Insurance is low-cost coverage for dependent children. This coverage can be used to cover your child’s final expenses, if necessary, and also build cash value that can be transferred to the child at age 18.
    • Cash value accumulates tax-deferred.
    • Ideal foundation for a child’s future insurance program.
• Estate Planning – Huntington Bank Life Insurance 
  • Estate planning is not just for the wealthy. A little careful planning can help minimize taxes payable out of your estate when you die – leaving more for your beneficiaries.
  • Most people don’t worry too much about what will happen to their possessions when they are gone. They just assume their “estate” will be passed along to their family.
  • Life Insurance is a useful and flexible estate-planning tool that can provide income tax-free income security for your loved ones. It can also provide liquidity to pay estate taxes, especially if your estate largely consists of assets such as real estate or a closely-held business that you may be reluctant to sell to raise cash. In most cases if the policy is owned by an irrevocable trust, the insurance payout can avoid estate taxes too. Contact one of our professionals today for more information.
• Term Life – Huntington Bank Life Insurance
  • Term Life Insurance is an affordable alternative to traditional life insurance, offering coverage for a specified number of years.
  • It offers life insurance coverage for a specified number of years, usually 10, 20, or 30, for a fixed premium amount that won’t increase during that term.
• Some benefits of term insurance include:
  • Provides a lot of coverage at a low cost.
  • Great for those on a limited budget but who still need coverage.
  • As your needs change in life, most term policies are convertible to permanent insurance.
  • Death benefits are usually income tax free.

• Universal Life – Huntington Bank Life Insurance
  • Universal Life Insurance is flexible coverage that can build cash value over time while letting you adjust your premium and coverage amounts as needed.
  • Universal Life Insurance is a form of permanent life insurance that offers flexible coverage that can build cash value over time while letting you adjust your premium and coverage amounts as needed. This gives you the flexibility to adjust the death benefit as your needs change, as well as the flexibility to pay smaller or larger premiums depending on your financial circumstances. This is often important for families who may have fluctuations in their ability to pay.
• Other advantages include:
  • Pays a guaranteed rate of return.
  • Withdraw cash value at any time (death benefit is reduced by amount withdrawn).
  • Adjust amount of premium paid (coverage amount varies accordingly).
  • Cash value accumulates tax-deferred.
  • Great solution for retirement income or cash for special needs.

• Variable Life – Huntington Bank Life Insurance
  • Variable Universal Life Insurance is insurance with earning potential. VUL gives you the ability to invest your policy’s cash value in a wide variety of investment funds.
    • Premiums are invested in mutual funds that you select.
    • Policyholder can borrow against cash value at low rates (death benefit is reduced by any outstanding loan balance and investment performance may also be affected).
    •  Policyholder can adjust amount of premium paid (coverage amount varies accordingly).
    • Cash value accumulates tax-deferred.
    • Possible source of retirement income or cash for special needs.
• Whole Life – Huntington Bank Life Insurance
  • With level premiums and the accumulation of cash values, Whole Life Insurance is optimal for long-range goals.
  • Whole Life Insurance is a form of permanent life insurance that builds cash value over time and locks in a fixed premium for life. With level premiums and the accumulation of cash values, Whole Life Insurance is good for long-range goals. The cash value in Whole Life Insurance can provide money to help with temporary needs or emergencies at a later date.
• Whole Life Insurance may be right for you if any of the following appeal to you:
  • Cash value accumulates tax-deferred.
  • Ability to borrow against cash value at low rates (death benefit is reduced by any outstanding loan balance).
  • Great solution for retirement income or cash for special needs.

Conclusion:

Life Insurance with Huntington Bank is that reassurance that you just need whenever something tragically unexpected happens to you or your spouse. Essentially, Huntington Bank will provide your family with the needed financial support, and protection. I want you to ask yourself, where exactly does my estate, my assets, etc., go when I’m not prepared. Most people don’t worry too much about what will happen to their possessions when they are gone. They just assume their “assets” will be passed along to their family. Be sure to protect your family and yourself and also be sure to check out our complete list of Huntington Bank Account Bonuses or Other Bank Deals for all your banking necessities!