Life Insurance Basics

There are 2 great reasons to buy life insurance

1. YOU LOVE SOMEONE!

2. YOU OWE SOMEONE!

Life Insurance - Many people think that life insurance is only for people with families. While it is true that life insurance can help provide for the needs of dependents, life insurance also can be an important part of a well-thought-out estate, business succession or charitable giving plan.

And permanent life insurance offers many living benefits as well, such as tax-deferred cash value accumulation. For all of these reasons, life insurance can be important for someone starting out – or for someone who's starting over.
 

• Whole Life - Whole Life insurance is also known as permanent insurance. You receive coverage for your entire life, as long as premiums (which are a set amount per period) are paid. Whole life policies accumulate cash value tax-deferred.   
• Term Life - Term Life policies provide coverage for a specific amount of time – such as 5 years, 10 years, 20 years, or more. Term premiums are often less expensive than whole life premiums, but once the term of the policy is complete, coverage terminates. There is no accumulation of cash value.    
• Universal Life - Like Whole Life, Universal Life is a permanent insurance policy, which means that it covers you for your entire life, as long as premiums are paid. Universal life, however, offers you flexibility that enables you to change your premiums and death benefit as your needs change.       
• Survivorship Life - Survivorship life insurance – available as whole life, universal life or variable universal life– covers two people and provides payment of the proceeds when the second insured individual dies. Survivorship life insurance is often used to help meet estate planning or business continuation goals.

Other Products - Other products, such as Disability Income Insurance, Individual and Group Health Insurance products.

 Need a little help in deciding which products would be right for you and your family?  We can help you analyze your needs and recommend appropriate products.

Please review the full range of products and contact us to help you fully analyze your needs and recommend appropriate solutions.

Long Term Care Insurance - Long-Term Care Insurance is still a relatively new type of insurance product. Many people do not understand what long-term care insurance policies cover, how and when the policies pay benefits, and who should obtain coverage.