Alemay Business Insurance
Life insurance planning built around the people and responsibilities that matter to you
When other people depend on your income or the financial stability you have built, life insurance can help create a layer of financial protection for the future.
Alemay Business reviews your situation, goals and protection needs and coordinates the available options with the properly licensed insurance professional for the product and jurisdiction.
English and Spanish, with a Miami office and virtual service when the product and jurisdiction allow.
At a glance
- Service
- Life insurance planning, protection-needs review and process coordination through properly licensed professionals.
- Who it is for
- Individuals, families and business owners evaluating financial protection for people, obligations and future goals.
- Options
- Different types of coverage can be evaluated based on your situation, goals, the product and availability.
- Getting started
- Schedule a consultation or reach out on WhatsApp.
Alemay Business Insurance
It's not only about how much coverage — it's about what you want to protect
Life insurance is not simply picking a number. The first step is understanding who depends on you, what obligations exist and how long that protection may be needed.
The right policy for one person may not be right for another. The type of coverage should be evaluated based on goals, family, budget, time horizon and the characteristics of the product.
Life insurance can be a tool for family protection and, in certain cases, part of a broader estate strategy. It should never be presented as a universal investment or as one solution that fits everyone.
When it makes sense to evaluate life insurance
- Other people depend on your income
- You have children
- You have a spouse or partner
- You have a mortgage
- You have other financial obligations
- You own a business
- You want to set aside resources for certain family needs
- You want to look at final expenses
- You want to review a policy you already have
- Your family grew
- You got married
- You got divorced
- You bought a property
- Your financial situation changed
- You started or expanded a business
- You are working on your estate planning
- Your current beneficiaries no longer reflect your situation
- You are not sure how long you need coverage
- You are not sure which type of policy makes sense to evaluate
Not everyone needs the same amount, the same duration or the same type of policy. The evaluation should start with the real need.
What life insurance actually is
A life insurance policy is a contract with an insurance carrier that can provide a death benefit to the named beneficiaries, subject to the terms, conditions, exclusions and continued force of the policy.
The policy owner, the insured and the beneficiary are not necessarily the same person. Understanding those roles is part of the initial review.
Key terms
- Insured
- The person whose life is covered by the policy.
- Policy owner
- The person or entity that holds certain rights over the policy, according to the contract.
- Beneficiary
- The person or entity named to receive the corresponding benefit when the policy conditions are met.
- Insurance carrier
- The company that issues the policy and determines, depending on the product, risk evaluation, eligibility, classification, premium, terms, approval, issuance and effective date.
Who does what in the process
Alemay Business
Receives the client, understands the situation, helps identify protection needs and objectives, organizes the initial information, coordinates the licensed review of alternatives, supports documentation and the application, integrates the process and follows up, including future coverage and beneficiary reviews when appropriate.
Properly licensed professional
Performs the regulated functions that correspond to their license, the product and the jurisdiction. When a need requires another license, specialty, product, jurisdiction or additional authorization, Alemay brings in and coordinates the appropriate partner professional within the same process.
Insurance carrier
Determines, depending on the product, risk evaluation when applicable, eligibility, classification, premium, terms, limits and conditions, approval or decline, issuance, the effective date and the benefits under the contract. Not every product follows exactly the same process.
The amount should start with your situation, not with a generic number
We do not use universal formulas or automatic income multiples. The amount of coverage should be reviewed against the client's particular needs and resources.
- Income
- People who depend on you
- Debts
- Mortgage
- Household expenses
- Education
- Business obligations
- Existing resources
- Other policies in force
- How long protection is needed
- Family goals
- Budget
Not every policy works the same way
This section is educational. No policy type is presented as the best one: each has different characteristics that must be evaluated based on the need, the product and availability.
Term Life
Term coverage is designed to provide protection for a defined period, subject to the terms of the policy. It can be relevant for needs that have a defined time horizon.
It can be reviewed for
- Income replacement for a certain number of years
- Obligations with a defined time horizon
- Mortgage
- Years of family dependency
- Other temporary needs
What is worth understanding
- It is usually not designed primarily to accumulate cash value
- Premiums and renewal or conversion options depend on the contract
- A renewal can come with different terms or premiums
In many products, term coverage can have a lower initial premium than certain permanent products, but the characteristics vary from policy to policy.
Permanent coverage and cash value
Certain permanent policies are designed to stay in force for an extended period or for the life of the insured while the policy requirements are met. Some products may accumulate cash value under the contract.
Before assuming any benefit
- Cash value does not mean free money
- Charges and cost of insurance can apply
- Loans or withdrawals can affect values and the death benefit
- A policy can lapse if the corresponding requirements are not maintained
- Guarantees and non-guaranteed elements depend on the contract
Whole Life
Whole Life is a form of permanent insurance that typically combines a death benefit with a cash value component under the terms of the policy.
- A premium structure defined by the product
- Specific contractual guarantees
- A cash value component under the contract
- Possible additional elements depending on the carrier and the contract
Do not assume dividends, performance, specific growth, cost-free loans, unlimited access to cash value or universal tax benefits.
Universal Life
Universal Life is another category of permanent insurance that can offer more flexibility in certain elements, depending on the product and the contract.
- Flexible premium within certain parameters
- Adjustable benefit in certain products
- A cash value component
- Interest crediting under the terms of the contract
Flexibility does not mean the policy can stop being funded indefinitely: it has to maintain sufficient value and meet the requirements to stay in force. Do not assume specific rates, growth or automatic permanence. Guarantees, where they exist, depend on the terms of the contract.
Indexed Universal Life (IUL)
An IUL is a form of Universal Life in which interest crediting on the cash value component may be linked to the methodology of one or more external indexes, under the terms of the product.
- It is not a direct investment in an index or in the market
- Crediting caps may exist
- Participation rates may exist
- Spreads or other contractual parameters may exist
- Cost of insurance and applicable charges exist
- There are guaranteed values and non-guaranteed values
- Illustrations rely on assumptions and are not a promise of results
Variable products when appropriate
Certain variable products can include components whose value depends on the performance of underlying investment options and can therefore involve risk of loss. Variable Life and Variable Universal Life are products that are also regulated as securities. Offering or selling them requires the corresponding licenses, registrations and authorizations, in addition to the applicable insurance licensing.
When a variable product is evaluated, Alemay Business coordinates the case exclusively with the professional who holds the required licenses, registrations and authorizations for the product and the jurisdiction.
Other life insurance solutions
Depending on availability, other structures or features may exist, for example Final Expense, survivorship-type coverage when appropriate, riders or conversion options, among other formats.
Features and availability depend on the insurance carrier, the product, the jurisdiction and the authorized professional.
Term vs. permanent coverage
| Dimension | Term | Permanent |
|---|---|---|
| Duration | A defined period under the contract | Designed for longer-term coverage depending on the product |
| Primary focus | Usually focused on the death benefit | Death benefit and, in certain products, cash value |
| Cash value | Generally no cash value | May include cash value under the contract |
| Complexity | Generally a simpler structure | Usually more complexity in features and costs |
| Continuity | Renewal or conversion features depend on the contract | Requires understanding how the policy stays in force |
The choice depends on the need, not on which product gets presented as universally superior.
Cash value: what it is and what it is not
Some permanent policies may accumulate cash value under the contract. Before you buy, it is worth understanding exactly how that component works.
When insurance is part of a broader strategy, we coordinate it with your Estate Planning. This page is not individualized tax advice.
What the client should understand
- How it accumulates
- What is guaranteed
- What is not guaranteed
- Cost of insurance
- Applicable charges
- Surrender charges when they exist
- Policy loans
- Withdrawals
- Impact on the death benefit
- Risk that the policy lapses
- Possible tax consequences depending on the case
The policy has to line up with your beneficiaries
Beneficiary designations can require special attention depending on your family and estate situation.
Before changing beneficiaries, it is worth reviewing how that decision interacts with the client's family, estate, contractual and tax circumstances, with the appropriate professionals involved.
Situations worth reviewing
- Spouse
- Children
- Minors
- Blended families
- Contingent beneficiaries
- Trusts
- Businesses
- Estate planning already in progress
Life insurance can be one piece of a bigger plan
Certain policies may need coordination with beneficiaries, trusts, wills, succession processes, family needs, businesses and taxes when those are relevant. That does not mean every client needs an estate plan.
When other people also depend on your business
Business owners can have needs beyond the personal ones. Not every business needs these strategies: first we review the situation, then we look at what may make sense. Life insurance does not automatically solve succession or guarantee continuity.
Alemay Business does not draft buy-sell agreements or design legal structures. When legal or business analysis is relevant, it is coordinated with the appropriate independent professionals.
Related: Estate Planning, Business Tax Preparation and Bookkeeping.
What can be evaluated
- The owner's family
- Partners
- Business obligations
- Key person coverage
- Business continuity
- Succession
- Business agreements when applicable, including funding a buy-sell arrangement between owners
If you already have coverage, start by understanding what you have
Having an existing policy does not mean it should be replaced. We can coordinate a review of:
- Policy type
- Death benefit
- Premium
- Beneficiaries
- Policy date
- Duration
- Riders
- Values when applicable
- Guarantees
- Non-guaranteed elements
- Existing loans
- The client's current situation
- The client's goals
Do not cancel an existing policy simply because you are evaluating another one
If you are considering replacing a policy, these points deserve careful review:
- Compare the features of both policies
- Consider that a new risk evaluation may apply
- The premium can change
- New contractual periods can start
- Charges may apply
- Guarantees can change
- There can be a risk of ending up without coverage
Do not cancel existing coverage until the new coverage has been issued and received and you have confirmed its effective date and terms.
This does not mean every replacement is inappropriate: it means the decision has to be evaluated before you give up coverage that is currently in force.
The insurance carrier evaluates the risk
Depending on the product, the carrier may consider different information within its risk evaluation process (underwriting). No classification, premium or approval is promised.
What can be considered
- Age
- Health
- Medical history
- Habits
- Occupation
- Activities
- Amount requested
- Other information allowed or required by the process
Some policies may use simplified processes and others may require additional information.
Do I always need a medical exam?
Not necessarily. It depends on the product, the carrier, age, the amount requested, the evaluation process and the information available. Do not assume a "no exam" option exists for every case.
What determines the cost?
- Age
- Coverage requested
- Policy type
- Duration
- Product features
- Risk evaluation when applicable
- Insurance carrier
- Riders
- Other permitted factors
We do not publish generic prices or "starting at" rates. The final premium is determined by the insurance carrier.
An illustration is not a promise of future results
Some policies can present guaranteed values, non-guaranteed values, assumptions and projections. It is essential to distinguish what is guaranteed from what is not guaranteed before making a decision.
Accessing cash value can have consequences
Depending on the contract, loans and withdrawals may be available, with interest, a reduction in cash value, a reduction in the death benefit, risk that the policy lapses and tax consequences in certain circumstances. This page does not provide individualized strategies.
How we work your case
- 01
We understand your situation
Family, obligations, goals, existing policies and how long protection may be needed.
- 02
We define the need
We review what you want to protect and which features may be relevant in your case.
- 03
Alternatives are reviewed
The properly licensed professional reviews the options available within their license, the carriers they can work with and the applicable jurisdiction.
- 04
Application and evaluation
We coordinate documentation and the application. The carrier performs the corresponding evaluation and determines premium, terms and approval.
- 05
Issuance and follow-up
When coverage is issued, we review the next steps with you and Alemay stays on as your point of coordination for future reviews when appropriate.
We do not promise issuance timelines: the process depends on the product, the insurance carrier and the information available.
What information we may need
Depending on the product and the applicable process, we may ask for:
- Name
- Date of birth
- State of residence
- Protection goals
- Beneficiaries you are considering
- Existing coverage
- Approximate amount you want to evaluate
- Occupation
- Financial information when applicable
- Medical information when required by the authorized process
- Additional information requested by the carrier
Protect your information: please do not send your SSN, detailed medical history, full policy numbers, banking information or sensitive financial or medical documents through WhatsApp, public forms or unauthorized channels. We will point you to the appropriate secure channel.
What our service can include
- Initial consultation
- Protection-needs review
- Coordination of existing-policy review
- Goal identification
- Coordination with the properly licensed professional
- Coordination of available-alternatives review
- General education about policy types
- Beneficiary coordination and review when appropriate
- Estate-planning coordination when appropriate
- Document organization
- Application support and coordination
- Coordination of the underwriting process when applicable
- Carrier coordination
- Coordination of issued-policy review
- Follow-up
- Future reviews when appropriate
- Coordination with licensed and authorized partners when another license or authorization is required
Not all of these apply to every client: the scope depends on the case, the product and the jurisdiction, with regulated functions handled by the properly licensed professional.
What we do and what we do not promise
What we do
- Review your protection needs
- Help you understand alternatives reviewed by the properly licensed professional
- Coordinate the properly licensed professionals
- Coordinate review of the coverage you already have
- Help you with the documentation
- Support you through the application
- Coordinate the corresponding evaluation process
- Help you understand the terms presented to you
- Coordinate with Estate Planning when it is relevant
- Follow up
What we do not promise
- Approval
- A specific premium
- The lowest price
- A specific classification
- A specific amount of coverage
- Policy issuance
- An issuance date
- Performance
- A specific cash value
- Dividends
- A specific rate
- The result of an index
- Tax benefits
- That one policy works for everyone
- That one product is always better than another
- That we represent every insurance carrier
- That every product is available in every state
Why Alemay Business
Review before choosing a policy
First we understand who depends on you, what obligations exist and how long you may need protection.
Different types of life insurance
Term, Whole Life, Universal Life, IUL and other structures are explained by their features, never as one universal product.
Properly licensed professionals
Regulated functions are performed by the properly licensed professional for the product and the jurisdiction.
Partner network
When a need requires another license, specialty or authorization, we bring the appropriate professional into the process.
Coordination by jurisdiction
Product and professional availability is confirmed based on the state and the case.
Existing policies and beneficiaries
We coordinate a review of the coverage you already have and how it interacts with your beneficiaries and your current situation.
Connected planning
When it is appropriate, we coordinate with Estate Planning and with the services your business already uses.
Bilingual service in Miami
English and Spanish. 9380 SW 72 ST, Suite 230B, Miami, FL 33173. We also work virtually when the product and jurisdiction allow.
Follow-up and Ale app
Your digital point to schedule, find resources and stay in touch throughout the process.
A coordinated team around your protection
Alemay Business coordinates the process and works with the properly licensed professional for the product, the authorization and the jurisdiction involved.
Stay connected with Alemay through Ale app
Ale app is the digital platform of Alemay Business. From your phone, you can explore our services, access helpful resources, schedule appointments and stay connected throughout the process.
Frequently Asked Questions about life insurance
Related services
Insurance
The full family: life, health and ACA, Medicare, auto and home, commercial insurance and annuities.
View serviceEstate Planning
A full view of your assets, decisions and legacy, with long-term strategy coordinated across professionals.
View serviceTrusts
Legal structures that can be part of how your assets are organized and transferred.
View servicePersonal Tax Preparation
Your personal return prepared with a clear review and explanation of your situation.
View serviceThe best life insurance conversation starts before choosing a policy
Schedule a consultation with Alemay Business to review who and what you want to protect, how long that protection may be needed and which options can be evaluated for your situation.
Life insurance products, premiums, features, values, guarantees, non-guaranteed elements, underwriting requirements, availability and terms depend on the insurance carrier, the product, the jurisdiction and the applicant's circumstances. Alemay Business coordinates insurance services through properly licensed and authorized professionals as applicable, and is not an insurance carrier, an insurance company or a securities firm. Nothing here guarantees approval, policy issuance, a specific premium, classification, performance, cash value, dividends, index crediting, tax benefits or any specific outcome. This page is informational: the policy terms, illustrations and prospectuses when applicable control, and nothing here is individualized tax, legal or investment advice.
Alemay Business · 9380 SW 72 ST, Suite 230B, Miami, FL 33173 · 305-300-2346 · business@alemaybusiness.com · Fax 305-402-0706