Welcome
Broadnax Insurance Group

Committed to helping you secure your financial future

Whether you're planning for final expenses, seeking stable retirement income through annuities, or looking for flexible life insurance coverage with Indexed Universal Life (IUL) policies, we're here to guide you every step of the way.

We offer:
 Final Expense
 Indexed Universal Life
 Annuities

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Broadnax Insurance Group
Ph: 228-355-3679
Em: James@JamesBroadnax.com
Website: JamesBroadnax.com

Why Choose Us

 

Personalized Approach

We understand that every individual's financial situation is unique. That's why we take the time to listen to your goals, assess your needs, and develop customized strategies tailored to your specific circumstances.

Expert Guidance

With years of experience in the financial services industry, our team of knowledgeable professionals is dedicated to providing expert guidance and advice to help you make informed decisions about your financial future.

Commitment to Excellence

At Broadnax Insurance Group, we prioritize integrity, transparency, and client satisfaction. We are committed to delivering excellence in every aspect of our service, ensuring your peace of mind and financial well-being.

Our Services

When you hire Broadnax Insurance Group you get:

Final Expense Planning

Planning for end-of-life expenses is essential for ensuring your loved ones are not burdened financially during a difficult time. Our final expense solutions provide peace of mind by covering funeral costs, medical bills, and other related expenses, allowing your family to focus on honoring your legacy.

Annuities

Annuities offer a reliable source of retirement income, providing stability and security for your golden years. We offer a range of annuity options tailored to your financial goals, whether you're seeking guaranteed income, tax-deferred growth, or flexible withdrawal options.
 

Indexed Universal Life (IUL)

Indexed Universal Life (IUL) policies combine the benefits of life insurance protection with cash value accumulation tied to market performance. With IUL policies, you can enjoy flexibility in premium payments, potential for cash value growth, and tax-free access to funds for various financial needs.

The Broadnax Insurance Group provides complimentary consultations.

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Getting Your Financial House in Order

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Getting your financial house in order means taking proactive steps to organize your finances, reduce debt, increase savings, and plan for the future.

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Frequently Asked Questions
What is final expense insurance?
Final expense insurance, also known as burial insurance or funeral insurance, is a type of life insurance designed to cover funeral and burial costs, medical bills, or other end-of-life expenses.
How much coverage do I need?
Coverage amounts typically range from $5,000 to $25,000, depending on your anticipated end-of-life expenses and personal preferences for your funeral.
Who should consider final expense insurance?
Individuals who want to ensure their loved ones are not burdened with funeral costs and those who do not have sufficient life insurance coverage to cover these expenses should consider final expense insurance.
Is final expense insurance expensive?
Premiums are generally affordable, especially when compared to other types of life insurance. However, they can be higher if you are older or have health issues.
Are there medical exams required?
Typically, final expense insurance does not require a medical exam, making it easier to obtain coverage regardless of health conditions.

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Indexed Universal Life Insurance (IULs)
What is an indexed universal life (IUL) insurance policy?
An IUL is a type of permanent life insurance that offers a death benefit along with a cash value component that grows based on the performance of a selected stock market index, such as the S&P 500.
Can IULs provide retirement income?
Yes, the cash value accumulated in an IUL can be accessed through policy loans or withdrawals, potentially providing tax-free retirement income.
How does the cash value in an IUL grow?
The cash value grows based on a percentage of the performance of a chosen index. It often has a cap on the maximum return and a floor to prevent losses in down markets.
Are there risks associated with IULs?
While IULs offer the potential for higher returns compared to traditional whole life policies, they also come with risks such as cap rates, participation rates, and fees that can affect the cash value growth.
What are the main benefits of an IUL?
Benefits include flexible premiums, potential for higher cash value growth, tax-free loans or withdrawals, and a death benefit for beneficiaries.
The Broadnax Insurance Group provides complimentary consultations.

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Annuities
What is an annuity?
An annuity is a financial product that provides a steady income stream, typically used for retirement. It is purchased with a lump sum or through a series of payments to an insurance company
How do annuities work?
You pay an insurer a lump sum or series of payments. In return, the insurer provides you with periodic payments starting immediately or at a future date, depending on the type of annuity.
Can I access my money if I need it?
Annuities often have surrender periods during which withdrawals may incur penalties. After this period, you can access your money, but withdrawals are subject to income tax and possible penalties if taken before age 59½.

What are the drawbacks of annuities?
Drawbacks can include high fees, surrender charges, limited access to funds, and complexity in understanding the product.
What are the different types of annuities?
Common types include fixed annuities, variable annuities, and indexed annuities. Fixed annuities offer guaranteed payments, variable annuities' payments depend on investment performance, and indexed annuities' returns are linked to a market index.
Are annuities tax-deferred?
Yes, the money invested in annuities grows tax-deferred until withdrawals begin, typically at retirement.
What are the benefits of annuities? 
Benefits include a guaranteed income stream for life or a set period, tax-deferred growth, and protection from market volatility (for fixed and indexed annuities).
The Broadnax Insurance Group provides complimentary consultations.

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Contact:
James Barnes Broadnax at 228-355-3679.
He can help you determine which options are best suited for your financial goals and needs.
Expect a prompt response as our team member will get back to you!
James Broadnax
Ph: 228-355-3679
Address
583 Chestnut Street 
Lynn MA 01904

Email

James@JamesBroadnax.com
Website:
JamesBroadnax.com

Hours
Monday           7:30AM-4PM
Tuesday           7:30AM-4PM
Wednesday     7:30AM-4PM
Thursday         7:30AM-4PM
Friday               7:30AM-4PM
Saturday                    Closed 
Sunday                       Closed