Life Insurance Packages
TERM LIFE INSURANCE
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TERM LIFE INSURANCE
Term Life Insurance is a less expensive way of providing maximum coverage for you and your family. Protection is provided for the specific period of time chosen on the policy. The policy will expire without value if the insured lives beyond the policy period.
Term insurance provides coverage at a fixed rate during the guaranteed policy time period selected and generally provides the largest insurance protection for your premium dollar.
Term Life Insurance pays a death benefit only if the insured die during the policy period. Term policies remains in force as long as premiums are current. Otherwise, the insurance coverage terminates if you discontinue your premium payments.
UNIVERSAL LIFE INSURANCE
Universal Life is designed to have great flexibility. Policyholders can determine the amount and frequency of premium payments. Universal Life splits into two parts: one covers life insurance, and the other goes into savings and investment. The policyholder has the flexibility to choose how much you pay withing a certain range.
Universal Life is a type of permanent life insurance that offers lifelong coverage. The insurance policy's cash value grows according to the performance of the insurer's portfolio and can be used to pay premiums.
WHOLE LIFE INSURANCE
Whole Life Insurance provides permanent protection for the life of the insured. Premiums are set at the time of policy issue and remain level for the policy’s life.
Contrary to term insurance, Whole Life contains permanent insurance protection and a savings component. Whole Life pays a death benefit but also builds up cash value over time. The savings component can be invested; additionally, the policyholder can access the cash while alive, by either withdrawing or borrowing against it, when needed.
MORTGAGE PROTECTION
A Mortgage Protection Plan is the smartest and most efficient way to safeguard your property. These simple, affordable plans pay off the mortgage if the policyholder dies during the term of the mortgage. It prevents a foreclosure on the property if unexpected events occur that could affect your ability to make your mortgage payments on time.
FIXED ANNUITY
A fixed annuity is a retirement plan that accumulates tax-deferred earnings and can provide a steady stream of income during retirement. Annuities offer the opportunity for lifetime payments and provide a guaranteed death benefit for your beneficiaries.
A fixed annuity can be a great investment option for people with a higher tax bracket who want to defer additional income.
Fixed annuity advantages include:
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Protection from a loss: annuity won't lose value, regardless of market conditions, unless you withdraw money or surrender your fixed annuity before the withdrawal period.
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Steady, predictable growth: fixed annuities provide a guaranteed growth in value at a fixed interest rate.
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Tax deferral: there are no taxes due on the interest earned on a fixed annuity until you start receiving payments or take a withdrawal.
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Guaranteed retirement income: during your retirement income period, you can select from different payout options, including a steady income that will last for the rest of your life.
