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Life Insurance

A staggering 50 million Americans have inadequate life insurance according to J.D. Powers and Associates! Are you adequately covered? Protect the financial security of your family and/or your business by insuring it adequately.

McLean Insurance can provide:

  • Peace Of Mind: Sleep well at night knowing that your family and business would be taken care of financially if you were to pass away unexpectedly.
  • Debt Payoff & Income Replacement: Funds to pay off mortgages, business loans, and much needed income for survivors.
  • Estate/Business Liquidity: Lump-sum liquid funds that help avoid the need to divest investments, real estate or business assets at depressed prices.

Why Choose McLean Insurance
For Your Life Insurance?

Types of Life Insurance:

Term Life Insurance

Term, or “temporary” life insurance is best for individuals or companies with short-term needs or for a limited duration (up to 30 years) rather than an indefinite period of time. Term policies offer guaranteed level premiums and “pure” death benefit protection for a fixed number of years (generally between 10-30 years, depending on original age). After expiration of the policy period, the premiums typically increase drastically.

Term insurance is suitable for those seeking the highest amounts of coverage for the lowest premiums and those who are looking to provide death benefit protection to cover mortgage or other loan payments, or to provide income replacement during your prime earning and/or family supporting years. Policies are also available with additional features such as disability premium waiver, accidental health benefit coverage, and return of premiums upon expiration, and future convertibility to a permanent product without medical qualifications.

Uses of Term Life Insurance for Individuals/Families:

Income Replacement – Term life insurance provides funds to replace the income lost if a family’s income earner(s) or homemaker were to die prematurely. Typically an amount of 6-12 times annual income of primary breadwinner is recommended but individual circumstances may vary.

Mortgage/Loan Payoff – Term life insurance provides funds to pay off outstanding debt upon death, such as mortgage or another type of loan. Typically these debts decrease over the life of a policy; therefore the death benefit can be planned accordingly.

Uses of Term Life Insurance for Businesses:

Continuation or “Key employee” coverage – Offers high levels of liquidity at relatively low premiums to provide the business with a cash infusion in the event of an unexpected death of a key employee or business owner, allowing the company to transition and meet its obligations.

Buy-Sell agreement fundingOffers funding for equity partners to allow their families to permanently buy out the equity from the heirs of a deceased equity partner.

“Permanent” Life Insurance

Permanent Life insurance is a designed to provide cover for life (or to an advanced age such as 85, 90, 100, etc. depending on the choice of the policy owner). Permanent life insurance, in contrast to term life insurance, provides the policy owner with the advantage of low-term level premiums that can go beyond the normal duration of term life insurance. It is coverage that can be guaranteed for life, no matter how long you may live. Certain types of Permanent Life insurance policies can build up “cash value: that can be used to offset or eliminate future premiums or be loaned against for future expenses. Permanent Life insurance policies can be Whole life, Universal life, Guaranteed Universal Life, or Indexed Universal Life.

Uses of Permanent Life Insurance For Individuals/Families:

Final Expenses – Covers cost of burial, closing estates, and other legal expenses upon death – expenses that exist no matter the age of the deceased.

Estate Planning – Provides liquidity upon death (at any age) to fund estate tax obligations, or to prevent the need to liquidate assets (family businesses, real estate, etc.) at depressed prices.

Uses of Permanent Life Insurance for Businesses:

Continuation Planning – Provides a non-expiring funding mechanism to allow the company to have liquidity in the event of a key employee’s or businesses owner’s death.

Buy-Sell Planning – Provides the partner(s) with a non-expiring funding mechanism for a contractual buyout of a deceased partner’s equity from his/her heirs.

Our Customers Love Us

OVER 20 YEARS AS A CLIENT-SPEAKS FOR ITSELF - My family has been with McLean Insurance for 20+ years. We have worked almost exclusively with Debbie and PJ. Both are incredibly personable and knowledgeable. They think 'outside the box' and always have (or secure) the information we might be looking for.... Show All

OVER 20 YEARS AS A CLIENT-SPEAKS FOR ITSELF - My family has been with McLean Insurance for 20+ years. We have worked almost exclusively with Debbie and PJ. Both are incredibly personable and knowledgeable. They think 'outside the box' and always have (or secure) the information we might be looking for. Most importantly, we trust their judgment and recommendations. That we have been clients for over 20 years says it all.

Don
Nov 10, 2017

Renew Insurance - No call was made to me on day & time scheduled but i think it was because i had mentioned i was too busy for calls and to just go ahead and renew with no changes.

Vilayphone Vito
Nov 10, 2017

Thank You Maggie May - Our family has received excellent service from Maggie May who always answers any of our questions quickly and with great details. She always follows up and we feel well taken care of. Its hard to come by such great customer service and we feel we're in... Show All

Thank You Maggie May - Our family has received excellent service from Maggie May who always answers any of our questions quickly and with great details. She always follows up and we feel well taken care of. Its hard to come by such great customer service and we feel we're in good hands here! We greatly appreciate all her help

Lara Ragheb
Nov 10, 2017

Debra always great. Thanks for helping me with all my insurance needs.

Fernando De León
Nov 10, 2017

Thanks Sarah! - I asked Sarah to help me find Life Insurance. I wanted to have peace of mind that my family would be OK should the unthinkable happen.My case was complex & I have been rejected by other companies in an application process before.Sarah shopped and found good options, helped... Show All

Thanks Sarah! - I asked Sarah to help me find Life Insurance. I wanted to have peace of mind that my family would be OK should the unthinkable happen.My case was complex & I have been rejected by other companies in an application process before.Sarah shopped and found good options, helped me through the paperwork process and explained everything that was going on. When I made a paperwork mistake, she was able to smooth it over.She really stuck with me through the whole process and now my policy is active!!

Kevin Van Auker
Nov 10, 2017

Thank You Mike! - Mike Feinberg has gone above and beyond to help our association with a number of insurance needs. From the beginning of our relationship, Mike has come through for us and delivered what he promised. We appreciate his genuineness, knowledge, and excellent customer service - even with minor... Show All

Thank You Mike! - Mike Feinberg has gone above and beyond to help our association with a number of insurance needs. From the beginning of our relationship, Mike has come through for us and delivered what he promised. We appreciate his genuineness, knowledge, and excellent customer service - even with minor details. We're so glad that we found Mike!

Dan Cotter
Mar 20, 2017

Amazing Experience - I have worked with Mike Feinberg and he has been outstanding. Always very patient answering all of my questions. Great customer service! And he is very knowledgeable as well. Would recommend him to everybody!

Syed Hussaini
Jan 11, 2017

Mike Feinberg recommended that I change a life insurance policy. It was a hard sell because I was very resistant to the change. Mike stuck with it, though, and finally convinced me he had a better product. He was courteous and professional throughout, and very patient in walking me through... Show All

Mike Feinberg recommended that I change a life insurance policy. It was a hard sell because I was very resistant to the change. Mike stuck with it, though, and finally convinced me he had a better product. He was courteous and professional throughout, and very patient in walking me through the critical details. He is a true credit to McLean Insurance and the industry he represents.

Halstead Clark
Apr 18, 2016

Home Owner - Every one at McLean Insurance is knowledgeable and responsive. PJ Baker and Mike Feinberg are always available and people of service. They explain everything clearly and give you options without sales pressure. They are trust worthy and people of character that you can depend on year after... Show All

Home Owner - Every one at McLean Insurance is knowledgeable and responsive. PJ Baker and Mike Feinberg are always available and people of service. They explain everything clearly and give you options without sales pressure. They are trust worthy and people of character that you can depend on year after year.

Cathy Feehan
Nov 9, 2015

Excellent Service - Michael Feinberg has consistently provided us with prompt, informative and professional guidance. He was especially helpful to us when we were setting up our new business. We recommend him wholeheartedly.

Nancy Grenier
Oct 27, 2015

Working With Mike Feinberg - I really enjoyed working with Mike. I purchased life insurance and disability insurance through him, and he also helped a lot navigating the insanity of Obama-care. He's terrific and I have recommended him to others. Many thanks.

Eric Rosenberg
Oct 27, 2015

Great Advice - Mike and his team provided great advice, making what can be a complex and confusing topic simple to understand. He provided options and ideas to help us select the right type and amount of coverage for our family. We would strongly recommend Mike to friends and in... Show All

Great Advice - Mike and his team provided great advice, making what can be a complex and confusing topic simple to understand. He provided options and ideas to help us select the right type and amount of coverage for our family. We would strongly recommend Mike to friends and in fact have already done so. Mark C.

Mark C.
Apr 18, 2015

Most of us have heard sad stories about unexpected passing of people that has left their families with a terrible financial burden and/or their businesses on the verge of bankruptcy. Don’t let that happen to you! Request a life insurance quote today from McLean Insurance and ensure that your family and your business are adequately protected.

Request a Quote

Insurance Carriers We Represent

McLean Insurance works with over 30 large and/or specialized carriers to offer our clients the best possible options. They include:

FAQ

What is the difference between term and permanent insurance, and what are the types of permanent insurance?

Term life insurance is a temporary product, providing the most coverage for the lowest price but only for a set period of time (often 10-30 years).  This is appropriate for the bulk of your insurance needs when you are working, have children/family dependent on your income, and have the highest expenses.
Permanent life insurance (whole life or universal life) is a policy that is designed, often guaranteed, to provide coverage as long as you live with premiums that remain level as long as you live.

Is it a good idea to “invest” in a cash value life insurance policy?

There are situations where it can be a beneficial tax-deferral product, but this is typically only the case if your income far exceeds your expenses and you are already maxing out your tax-favored retirement savings (401k, IRA, pension plans, etc).   However, generally, it makes more sense to pay the lowest possible premium to provide the guaranteed protection in the event of death and utilize other investment forms to accumulate wealth.

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