Whole Life Insurance

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Personal Lines

As an independent insurance agency, personal lines is an important part of the products

and services we provide to our clients. We have the privilege of servicing over 12,000 personal lines policyholders. Our agency’s goal is to develop long-term relationships with all of these clients, providing the safety & security that is required to protect their personal possessions and the income flows of their families. The insurance carriers we represent are among the best and share our desire & commitment in servicing your financial needs. These carriers all have A (excellent) ratings by A.M. Best, a sign of financial strength and the ability to pay claims. Our clients can be assured that the carriers we represent are fiscally responsible and highly responsive to the needs of our clients in any claim situation.  Go to the page
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Life & Health Insurance

At Body-Borneman, we know that our clients have more than automobiles and homes

to protect. That’s why we organized our life and benefits department back in 1962. For over 35 years, we’ve been helping customers to protect their health, incomes and savings from the risk of financial loss, including: We pride ourselves in the abundance of products and services we have available to meet your insurance needs. We are staffed with professional agents at all 3 of our locations, who can assist you with any insurance need you have .  Go to the page
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Commercial Lines

Body-Borneman specializes in Commercial insurance, with over 2,000 clients

Regardless of whether your business is manufacturing, wholesaling, contracting, retailing or service, we can find and tailor a program to match your needs, whether through traditional insurance products – or more creative, self-insurance captive programs As an independent agency, Body-Borneman represents a large assortment of today’s most competitive carriers for many industries. Having ready access to these markets makes us uniquely qualified to tailor to your specifications a package of protection.  Go to the page
Companies We Represent

Welcome to Body Borneman Insurance

Body Borneman’s Whole Life Insurance Policy

Body Borneman Insurance Company is a reliable company which offers various types of insurance policies to every individual and family. Since their inception in Pennsylvania in 1962, they have serves thousands of customers. They are set by a demanding and remarkable standard, which is to provide customers with the best whole life insurance coverage plan, among others, to suit their living. In addition, they provide services for funeral and burial expenses in the event of the passing of a family member, included in this type of insurance plan. Financial stability in the family is key to establishing and maintaining a solid future, in order to accomplish long term goals, especially for the children’s long term needs.

 

Whole life insurance is a guaranteed insurance policy, which offers coverage for the contract holder, throughout the period of his or her entire life span. The insured person normally pays premiums until death, except for limited pay policies which may be paid-up in 10 years or 20 years. It is therefore advisable not to let the coverage elapse, as this can become costly overtime. In order for this to occur, a premium, which is a specified amount to be paid monthly or yearly to be paid for the plan, needs to be consistently paid to the time of death. As long as the premiums are being consistently paid on time, the policy never increases. So until the day of death, the policy holder will be paying a set premium which will just accrue the cash value for your family. Whole life insurance usually is a part of the cash value category of life insurance, meaning that it is the cash amount offered to the policy owner by the issuing life carrier upon cancellation of the contract. It reflects the reserves necessary to assure payment of the guaranteed death benefit.

 

Body Borneman provides whole life insurance coverage to policy owners. Unfortunately, in the event of the policy owner’s untimely death, the amount insured would be paid to the beneficiaries of the owner. This type of plan includes an accumulative cash payout. It is therefore advised by this company that it is definitely a great advantage to obtain whole life insurance, so that the rest of the family can benefit. It is therefore a requirement to get a medical exam done, in order to qualify for whole life insurance plan. Upon obtaining the specified amount after a passing, the lone spouse will be able to pay outstanding loans, take of the self and the young children, pay the mortgage, clear credit card debts if necessary, pay for funeral expenses, venture into a supplement retirement income and so on.

 

Most couples embrace the thought of having children at some point in their lives. Even before conception, spouses should have some concrete idea of when they are planning to have children and what measures will be put in place, in the event that one parent may pass away. As a matter of fact, children have no means of earning an income to care for themselves. It is every parents’ responsibility that even from babyhood, to make sure that there are some priorities which need to take full effect for their children’s education and other basic needs for survival. As time passes by, when the children have now grown into young adults, there are those who eventually want to leave their parents’ home and go to live on their own. After some long period of time, they may, for whatever reason, eventually decide to return to their parents’ home to stay indefinitely. Overall, living away from the family home can be quite expensive. They may either want to live within the main household or to build an extension to the house to suit their living comforts. In the event that a parent may die, funds from the whole life insurance plan may be passed on to these young adults for financial stability, as they may be immediate beneficiaries.

 

With the funeral expenses, some persons do not welcome the idea of being buried in the back yard of their home. It would be extremely difficult having just the thought of being laid to rest so close to home, so that family and friends can visit the site almost every single day. Arranging for a state funeral can be quite expensive. It adds up to thousands of dollars. Finances which a spouse may not have to adequately put their loved one in his or her final resting place. To gain whole life insurance from Body Borneman, they keep regular updates on payments from policy holders to ensure that in times like these, the spouse is able to take care of the burial costs.

 

On the business side, if the lone spouse does not earn a steady income, in the event of a loved one’s untimely death, may reflect on owning a business to maintain a family income. If there is no startup capital in place, or even a job to apply for a business loan, it is challenging to make an initial setup of a business. Goods must to be bought, rent to be paid, cash in hand to complete transactions, and other aspects of the business ownership, need to be administered to. With any particular skill which the living spouse or children themselves may possess, be it in the field of cake decorating, auto mechanic, designing and so on, it serves as a substantial benefit to creating employment. Having a good business goal, good financial standing and the necessary capabilities, this can generate long term finances for the rest of the family, if managed properly. With this in mind, funds from the whole life insurance after death, can be a sure way of starting up a family business, especially if the living spouse and older children do not have a full time job.

 

In addition, the policy holder may have his or her parent living in the same household as his immediate family. He or she may need to administer care to the parent, due to old age or a chronic illness. In a case where the holder may die, due to unforeseen circumstances, the lone spouse may claim the responsibility to look after the dead spouse’s parent. The money from the living spouse’s employment income may not be enough to support the entire family, as the holder may have been the main breadwinner. The challenges seem endless and more difficult, in that there are many day to day obligations, which need to be consistently attended to. Reflect on these real issues and think about providing a peace of mind to the ones most cherished. Things happen to persons out there in the world every day and there are countless stories of the what ifs and the regrets. Consider all these situations and the fact that it can happen to anyone at anytime.

 

To add to these, the life insurance policy also serves as a savings account. A person who purchased life insurance can borrow money from the cash value. Of course, interest will be paid out. Sometimes, the loan can be covered by the death benefit of the whole life policy after the purchaser dies. A portion of the money which the policy owner pays to his or her life insurance is paid out in cash value after he or she dies. Whole life insurance can also be borrowed if ever needed. The purchaser can also grab the opportunity to obtain other benefits such as setting up a trust for estate taxes.

 

All these above examples are some of the concrete reasons for choosing a substantial whole life insurance at Body Borneman. Claiming for this long term life insurance will provide the necessary security that the family would need for their survival. No individual would like to know that he or she has left the burden of bill payments and a myriad of debts on any loved one to take care of, while grieving his or her passing. Death is something no one knows when or to whom it will happen. It can happen at any time. Be sure to make whole life insurance a priority, in order for the financial payouts to establish a risk management system for the beneficiaries. Anyone can be a beneficiary but it usually includes immediate family members. The life insurance will pay out the cash value to the beneficiaries after the death of the purchaser. Fortunately, the beneficiaries can also expect additional death benefits to help cover burial expenses.

 

Purchasing this type of insurance will allow more individuals to be inclined to save their money rather than spending it uselessly. This money can be borrowed but it will require interest. Many persons like to take hold of the opportunity when they know that they will receive tax benefits from whole life insurance. A purchaser is only charged for taxes if the amount borrowed exceeds the cash value already accrued. Finding the right policy to purchase is essential for securing the family’s future and many feel that whole life does what it is destined to do.
A policy owner may surrender a whole life policy for its cash value. Generally, this is so in a traditional whole life policy. Over the course of time, the policy accumulates a cash value, which is similar to building equity in a home. When a policy is surrendered, the owner is entitled to at least a portion of the cash value. The owner will receive an actual amount, which will depend on whether or not there are any outstanding loans or unpaid premiums that can be deducted from the cash value.

 

Moreover, the policy owner may borrow money from the whole life policy. Generally, to the extent that there are a considerable amount of funds in the cash value to secure the loan. It is expected that there may be a waiting period before a loan is available. If the policy owner borrows from the policy, the cash value is used as collateral, and interest is charged at the rate specified or described in the policy. Any money owed on an outstanding policy loan is deducted from the benefits upon the insured’s death or from the cash value if the policy owner surrenders the policy for cash.

 

Body Borneman is a sure and most trusted insurance company which provides extensive and accurate information about making a wise and firm decision to gain coverage on this insurance plan. Be confident that choosing this company to handle all the needs of your immediate family will be reflected in the outstanding customer service provided to each and every customer. The committed and dependable staff of Body Borneman demonstrates the capable of providing amazing service to their customers. Current and past customers always do have a meaningful experience when looking into buying whole life. These experiences can be quite helpful. Take some time to know about the reviews offered by customers and consider the company’s ratings, to conclude whether or not this is the right insurance company to address the family’s needs. Come to Body-Borneman Insurance in Pennsylvania and see that they match up to the quality standards which they so boldly refer to, with whole life. Their licensed agents do help clients find life insurance at low premiums. They possess the knowledge necessary to help anyone find a premium that he or she can afford and the whole life terms which is needs the most. The staff has every client’s best interests at heart and the skills needed to negotiate with the dependable life insurance companies with which they choose to work.

 

Let Body Borneman be your first and foremost priority to offer you and the family whole life insurance. After the initial setup and experiencing the warmth and comfort which the staff displays, there will be no room for regret. Make that wise decision today. Invest right now. Think about what the tough financial constraints of the family will be like, once there is no insurance plan in place. Secure their living. Secure their happiness with peace of mind.

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