Life Insurance
Term Life
- Term life is usually the least expensive, most affordable type of life insurance
- Lower Premiums than Permanente Insurance
- Coverage for specific time periods (10, 20, 20, 40 years)
- If you die within the term period, your beneficiary(s) receive a death benefit
- There is no “accumulation” element, or cash value with term insurance
Whole Life
- Premiums are guaranteed not to increase over time.
- The cash values may be used to pay premiums for a certain period of time.
- Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.
- The policy can be surrendered for the cash surrender value.
- The policy can be changed to a reduced death benefit amount that is paid up.
Universal Life
- Allows you, after your initial payment, to pay premiums at any time, in virtually any amount, subject to certain minimums and maximums
- The cash values may be used to pay premiums for a certain period of time.
- Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.
- The policy can be surrendered for the cash surrender value.
- The policy can be changed to a reduced death benefit amount that is paid up.
We will be happy to help you choose the right plan for your needs.