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Life Insurance Policies
There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:
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Term Life Insurance
is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 20 years. Other policy life periods are available, including 1 year annual renewable term.
Term insurance premiums will not
increase during the guaranteed policy time period (term) you select. Term Life
Insurance pays a
death benefit only if you die during that term. Term insurance generally
provides the largest insurance protection for your premium dollar.
Term Life Insurance remains in force for as long as premiums are current,
provided there are no misrepresentations on the application. The insurance
coverage terminates if you discontinue your premium payments.
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HERE to get your Term Life Insurance Quote on-line
now!
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Universal Life
is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments - i.e., the more you pay, the less time you will need to pay. Your premiums
cover the insurance part also the savings or investment element and the expense part. The stated interest on the investment portion changes along with movement in interest rates; moves in 1/4 % interest
steps are typical as banks and other financial institutions make similar moves.
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Whole Life Insurance
provides permanent protection for the whole of life - from the date of policy issue to the date of the insured's death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy's life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child's education, or cash surrender value if the policy is ever cancelled.
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Other Life Products
for estate preservation or survivorship purposes are also available - i.e. life insurance benefits to cover federal estate taxes.
These products are continually changing and we can provide you with the latest information and
policies available!
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