Life Insurance

Life insurance gives you the opportunity to protect your family’s dreams, ambitions, and assets should an unexpected death occur.  There are many different options to choose from and finding the right one for you can be a challenge.  Contact us today so we can help you select the coverage that best fits your needs. 

 

Premium

Cash Value

Objective

Whole Life

Fixed

Yes

Long Term Protection

Universal Life

Flexible

Yes

Long Term Protection

Final Expense Life

Fixed

No

Cover Estate Debts

Term Life

Fixed

No

Highest Death Benefit with Lowest Cost

Below are some brief definitions for the different types of life insurance to help you understand the basic options.

Whole Life Insurance

Whole life may be appropriate for those with long-range insurance and financial goals.  Whole life insurance offers fixed premiums and an accumulation of cash value.  In addition to providing life insurance coverage for as long as you live, the guaranteed cash value can provide you money, when you need it, to help with temporary needs or emergencies.

Universal Life Insurance

A universal life policy is a flexible way to help protect your loved ones and build tax deferred cash value.  Universal life insurance is a great option to help your family prepare for the unexpected.  It provides a flexible premium and adjustable benefit so that as your needs change, you have the option to make changes in your coverage. Additionally, as premiums are paid, it can accumulate cash value which grows tax deferred until you need it.

Final Expense Life Insurance

Final expense insurance also referred to as burial insurance or funeral insurance provides your loved ones with the freedom and flexibility to pay the remaining expense and debts on your estate.  Final expense life insurance is different from burial protection, which can only cover the costs of burial. Since these policies are simplified issue, you only need to fill out a short application and no medical exams are needed. 

Term Life Insurance

Term life insurance provides death protection for a stated period of time or term.  It was developed to provide temporary life insurance protection for those on a limited budget.  Since term insurance can be purchased in larger amounts for a small initial premium, it can be well suited for short range goals such as paying off a loan.  We represent companies that provide term insurance policies for 5, 10, 20, and 30 year periods.  These policies can be renewed or continued at higher premiums to age 85 or 95 as stated in the policy.