Life Insurance can help protect your family and is an excellent way to
accumulate money for college, retirement or unplanned expenses. A person
should have life insurance that approaches six to eight times their annual
gross income. Under current laws, there is generally no federal income tax
on death benefits paid to a named beneficiary.
Using the strength and experience of our life insurance
markets, we offer affordable term life, whole life, and
universal life insurance policies.
Life insurance coverage for a specified length of time.
A term life insurance policy is usually purchased with
a particular need in mind. Beneficiaries will collect,
usually tax free, the face value of the policy upon the
insured (your) death. Term life is attractive for those
with a limited income, high short term insurance
needs, or for personal family protection.
If the insured survives the time period, the policy
expires. There is no cash value at the expiration of a
term life insurance policy. Some policies have a
convertible feature permitting a policyowner to
exchange a term policy for a cash value policy without
evidence of insurability.
Level Term Life Insurance Policy Features
A constant death benefit and a level premium for a specified number of
years. We offer 10, 15, 20, and 30 year terms.
Decreasing Term Life Insurance Policy Features
Has a decreasing death benefit and a level premium.
Click on the link below to fill out a secure quote request form for a Term
Life Insurance policy that will provide excellent life insurance coverage at
an affordable cost. Or you can speak with one of our Massachusetts Life
Insurance agent specialists at our Lawrence, MA location by calling
(978) 683-4700 or our Methuen, MA location at (978) 681-8200 to discuss
the policy features in more detail.
We are a full service insurance agency with two offices in Essex County, MA offering affordable
Massachusetts life insurance policy premiums in the following cities and counties: Lawrence,
Methuen, Haverhill, Andover, Boxford, Georgetown, Groveland, Byfield, Merrimac, Newbury,
Amesbury, Salisbury, Shawsheen Village, Ballardvale, Wamesit, North Andover, Dracut, Lowell,
Chelmsford, Tewksbury, Collinsville, Billerica, River Pines, Nabnaset, Dunstable, Pepperell, Groton,
Tyngsoro, Westford, North Billerica, West Andover, Wilmington, Silver Lake, Nutting Lake, Reading,
Pinehurst, Burlington, Bedford, Hathorne, Middleton, Lynnfield, Danvers, Hamilton, Topsfield,
Plumbush, Newburyport, Salisbury Beach, West Newbury, South Byfield, Little Neck, Rowley,
Ipswich, Marlboro, South Hamilton, Beverly, Gloucester, Manchester-by-the-sea, Rockport, Long
Beach, Pigeon Cove, Wenham, Boston, Salem, Peabody, Wakefield, South Lynnfield, Woburn,
Saugus, Lexington, Winchester, Stoneham, Greenwood, Arlington, Medford, Melrose, Everett,
Revere, Chelsea, Marblehead, Swampscott, Nahant, Lynn, Cliftondale, North Saugus, Somerville,
Belmont, Cambridge, Waltham, East Arlington, Concord, Carlisle, Middlesex County, Norfolk
County, Worcester County, Plymouth County, and Suffolk County, MA. We can also offer
Massachusetts life insurance coverage services throughout the Bay State, including in Worcester,
Framington, Leominster, Fitchburg, and Springfield, MA.
Click on one below to learn more!
The most popular choice for those seeking to cover permanent needs, such as
contributing to a survivor's nest egg, paying off final expenses, etc. Whole life
insurance provides permanent, lifelong insurance coverage. The benefit amount
remains the same and is payable to the beneficiary(s) at the time of the insured's
(your) death. It also offers an opportunity to build cash value, so you can take a
loan on your policy to fund major purchases or to provide for unexpected costs.
Whole life insurance has a fixed premium and a level death benefit to age 100.
The premiums don't increase with age, which averages the cost of the policy
over your life. The cash value increases with time until it equals the death benefit
at age 100. This type of policy never has to be renewed or converted. The cash
value is an amount of money that you are guaranteed to receive in the event of
policy cancellation.
Variations of Whole Life Insurance include:
Modified Premium - lower fixed premium for the first 3 or 5 years, and then
premiums increase. These policies work well for individuals that expect to
improve their financial condition in the near future.

Graded Premium - premium increases each year for the first 5 years, and
then is fixed.
1. premium costs may make it difficult to buy enough
2. need to carry a whole life policy for a considerable length of time to be very
beneficial
3. cash value may be less than your face value
4. cannot vary your monthly premium payment and the premium-paying period
may be lengthy
5. amount of coverage cannot be increased at a later date
Advantages of Whole Life Insurance
1. guaranteed protection for life
2. level death benefit that is generally tax-free
3. premiums do not increase in correlation with your age
4. cash may accumulate tax-deferred
Disadvantages of Whole Life Insurance
Click on the link below to fill out a secure quote request form for a Whole Life
Insurance policy that will provide excellent life insurance coverage at an affordable
cost. Or you can speak with one of our Massachusetts Life Insurance agent
specialists at our Lawrence location by calling (978) 683-4700 or our Methuen
location at (978) 681-8200 to discuss the policy features in more detail.
A flexible premium policy that combines protection against premature death with a
savings account that typically earns a money market rate of interest. A universal life
insurance policy is a combination of term life insurance protection with the cash
savings value of whole life insurance. Interest rates paid on the cash value are
typically higher than with whole life insurance because they tend to follow the
markets.
Premiums for universal life insurance policies can be paid in a lump sum, annually,
or anywhere in between. Interest on the cash value is usually guaranteed, but will
vary according to the investment performance. Each month deductions are made
from the cash value fund to support the costs of the insurance protection. As long
as the cash value is substantial enough to maintain the monthly costs, the policy
will remain in force. Typically the death benefit reduces in proportion to the increase
in cash value, thus causing a level death benefit.
**The information, pictures, and other content in this website about particular insurance
services is only provided for informational purposes. Any decisions regarding your
insurance needs should be discussed with a licensed insurance agent.
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T. A. Sullivan Agency
344 South Union Street
Lawrence, MA 01843
Essex County, Massachusetts
(978) 683-4700
Fax: (978) 794-8570
T. A. Sullivan Agency
369 Merrimack Street
Methuen, MA 01844
(978) 681-8200
Fax: (978) 681-7775
Massachusetts Life Insurance
T. A. SULLIVAN
AGENCY, INC.
MA Life Insurance
Since 1963
T. A. Sullivan Agency, Inc.
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