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610-948-4830     info@ronblackagency.com

Whole Life Insurance

Permanent life insurance protection plus
accumulation of cash values to help meet
your lifetime financial goals.

Updated Office Hours!

The past several weeks have certainly tested us all. As we continue to monitor ongoing developments related to the coronavirus (COVID-19), please know that nothing will compromise our commitment to take care of our employees as well as our clients and the things you trust us to insure.
 

Our Agency has been in business since 1922 and we remain committed to being in business well past our current normal provides us all with a future normal. As an "essential business" under Governor Wolf's ruling, we have strategically staggered the times that we go into the office to check the mail and anything else that is needed. The lobby is currently closed but we are certainly available to communicate by phone, email and/or video chat if you like. Just reach out to either of us and we'll make arrangements that best suit your needs.


Please be assured that you always have the ability to access all of your policy information via the carriers that we have you insured with at any time by simply logging on at the carriers site or their mobile app.  Each app is a free download from your own app store if you don't have it already.  In both you have full access to your policy information including ID cards and billing.  Any bills can be paid in either the sites or their respective apps or by calling us or the carrier directly.  We realize that this may be an inconvenience for some and hope this is a short-lived response to our current healthcare situation as we do enjoy when all clients and partners come into the office.  Thank you for your consideration and please stay healthy! 

Whole Life Insurance

A whole life policy is the foundation of a well structured financial plan due to the security and guarantees that they afford.  When purchased at a young age, a whole life policy is actually cheaper over the long-term than a term policy.  The death benefit paid to your beneficiary will be tax-free income to them under current taxation - this unique feature helps maintain your families standard of living.  As long as the premiums are paid, your whole life policy can have a guaranteed level premium, a level or increasing death benefit, and also earn a cash value that grows on a tax-deferred basis.  These cash values can then be used as personal loans that are too tax-free to you under current taxation laws.  The values that accumulate with a whole life policy can be used for just about any purpose you like including:

  • education expenses for your children
  • emergency needs
  • starting a business or a new career
  • wealth transfer
  • business needs - buy/sell agreements
  • charitable giving
  • supplemental retirement income

In addition, with most policies you have the option to stop paying premiums without having the policy lapse.  This reduced paid-up option will keep your accrued benefit in force at a given time for the remainder of your life.


Optional Riders

You also have the ability to design your whole life policy with the coverage that best fits current needs.  Adding any of these additional riders will both increase your coverage levels and give your policy added benefits.

  • disability income rider - provides a monthly benefit if you become totally disabled.
  • children's term - provides dependent children with term protection.
  • critical illness - pays a lump sum benefit upon first-diagnosis of a covered condition in addition to the death benefit.
  • waiver of premium - premiums are waived if you become disable due to an illness and are unable to work.
  • accelerated benefits - allows for an advance of the death benefit if diagnosed with a terminal illness or requires permanent care in a nursing facility (long-term care coverage).
  • paid-up-additions - uses the earned dividends to purchase additional insurance which increases both the cash value and death benefit on the policy.

Our communities

Since 1922, we have proudly insured and protected the families and business's of Royersford, Limerick, Spring City, Phoenixville, Collegeville, Schwenksville, Pottstown, Skippack, Harleysville, Souderton, Lansdale, North Wales, Chalfont, New Britain, Norristown, King of Prussia, Blue Bell and our surrounding communities.