PERSONAL LIFE INSURANCE

Life insurance is a promise between an insurance company and a policy owner to pay a certain amount of money (called a death benefit) to a chosen beneficiary when the policy owner dies. The policy owner pays premiums to the insurance company in order to have the agreed upon death benefit paid out to the beneficiary.

There are many types of life insurance. Term insurance only provides a death benefit for a limited/set period of years. In layman’s terms, the policyholder is renting coverage for a certain amount of years based on need or goals in the future. By contrast, permanent insurance can provide a death benefit and the potential to build cash value that the policy holder can access during his/her lifetime using policy loans and withdrawals. In this regard, having a permanent insurance policy can be viewed as owning coverage instead of renting coverage due to the permanent nature of the policy. Permanent insurance can also offer the flexibility to increase or decrease one’s death benefit as needs change, as well as the potential to reduce or skip premium payments.

Product Offerings:

  • Term Insurance
    • 5, 10, 15, 20, 25 and 30 year level premium durations
    • Return of premium term
    • Layered or lattered term
  • Universal Life Insurance
    • Guaranteed Universal Life
    • Current Assumption Universal Life
    • Indexed Universal Life
  • Whole Life Insurance
  • Hybrid Life Insurance/LTC