Life insurance is arguably one of the greatest gifts you can give to your loved ones upon your passing, and one of the best ways to ensure that your survivors remain financially secure. It is a tool to allow you to leave a debt-free legacy, continue to provide income in your absence, cover your children’s education costs, and provide financial protection.
WHAT CAN LIFE INSURANCE PROVIDE YOUR FAMILY?
Allow your loved ones to remain in their home.
Give the gift of a debt free legacy.
Provide funds and financial security.
TYPES OF INSURANCE
TEMPORARY – Coverage is set for a specific period of time and expires at the end of the set period (5, 10, 15, 20 years).
AFFORDABILITY – Gennerally associated with the lowest premium cost.
DEATH BENEFIT – Fixed.
DURATION – Lifetime coverage.
AFFORDABILITY – Premiums are generally flexible to allow you to increase or decrease payments.
CASH VALUE – The cash value and death benefit can flucuate based on the premium you pay and the market performance.
CASH VALUE – A portion of the premium functions as an investment, building tax-deferred interest over time
AFFORDABILITY – Premiums may initially be more expensive than other forms of life insurance but remain constant for the duration of the policy
RENEWABILITY – Life-long coverage as long as the premium is paid.
DURATION – Lifetime coverage
PREMIUM – Most policies offer level premiums
CASH VALUE – The policy owner can decide what sub-accounts to invest their cash value in. A minimum death benefit is often guaranteed. The performance of the sub-accounts will determine other gains.