Life Insurance Plans & Types
Term Life Insurance
Is often considered the lowest costing life insurance, and if your insurance need is only temporary, this may be true. Term insurance premiums stay the same for only a limited number of years, however, and increases in premiums can be substantial as you age. Term insurance generally does not offer the opportunity to accumulate cash value.
Permanent Life Insurance
Permanent insurance can provide a death benefit and the potential to build policy cash value that you can access during your lifetime using policy loans and withdrawals.1 Permanent insurance can also offer the flexibility to increase or decrease your death benefit as your needs change, as well as the potential to reduce or skip premium payments.
Whole Life Insurance
Insurance offers guaranteed level premiums, death benefit, and cash value. Policy values have the potential to be enhanced through dividends paid by the insurance company.
Accelerated Benefits Riders are optional, no-additional cost riders that can allow you to access all or part of your death benefit, while living, if you experience a qualifying terminal, chronic, or critical illness, or critical injury.
Tax Free Retirement Planning
Permanent life insurance offers the ability to build up tax-deferred cash value that can be accessed during your lifetime to generate a stream of retirement income – potentially income tax-free.
Mortgage Protection Insurance
A life insurance policy helps protect your home and income in case of premature death or the financial risk of a terminal, chronic, critical illness or critical injury.
If sufficiently funded, the cash value in a life insurance policy can be used to help pay
for any type of secondary educational expenses including technical and vocational schools, or even private primary schools.
Indexed Universal Life
Works the same way that Universal Life does, but offers the option of having cash value accumulate at interest based on the changes of a major market index.
Thoughts On Life Insurance
” Life insurance buys you time -How? by creating money. Money that can guarantee that your spouse can raise your family, continue a business, pay off your home, educate your children, secure a spouse’s welfare, complete all of your dreams for your family – even if you’re not here.”
“Let’s use insurance to keep together what you put together.”
“The problem is not dying too young, but outliving your money”
“Why leave everything to chance when you could leave something to your family.”
” Life insurance is the last thing on earth a man wants – and then he can’t get it.
“Someone always pays for life insurance. It is bought with sacrifices. Either you sacrifice a little today or your family sacrifices a lot tomorrow.”
Everybody is going to buy life insurance someday.”