Term Life Insurance

Many families count on term life insurance for temporary protection. This type of life insurance is more likely to fit your budget than long-term coverage.

• Protection to fit your budget.
  With term insurance, you can afford more coverage than you could with long-term coverage, but for a shorter period of time.
• Guaranteed life insurance benefit.
  As long as premiums are paid, you will enjoy full protection for the life of your policy.
• Multiple “lock-in” periods for premiums.
  You get to choose how long your premiums remain level. You can go year-by-year (with premiums increasing each year) or select a level period at a higher initial rate that lasts between 10 and 20 years. It’s completely up to you.
• Conversion privilege.
  If you expect your insurance needs to evolve over time, you will value your right to convert (with no additional medical questions or exams) some or all of your term insurance to long-term life insurance.
• Portable coverage.
  Unlike most group term life protection that is provided by an employer, individual coverage can be taken with you wherever you go.
• Tax advantages.
  Your beneficiaries receive a guaranteed death benefit, which is typically paid federal income tax free.

Whole Life Insurance

Whole life insurance can be more than just a way to protect your family. It can also be a way to grow and protect your long-term wealth.

• Long-term protection.
  This permanent coverage is designed to last a lifetime (if you pay your premiums).  You never have to worry about renewing, reapplying, or outliving your coverage.
• Guaranteed life insurance benefit.
  As long as you pay your premiums, you will enjoy full protection for your lifetime.
• Fixed, level premiums.
  Your premiums are locked in at the time of purchase. They will never go up, regardless of your health, your age, or the state of the economy.  There are options for how long and how often you pay—monthly, quarterly, or yearly.
• The opportunity for dividends.
  As a policy owner, you automatically become eligible to receive dividends. Though dividends are not guaranteed, you can keep them or use them to purchase additional paid-up insurance to grow your policy.
• Cash value accumulation.
  Your policy builds cash value that is guaranteed to grow over time. Guaranteed cash value growth can be accessed when needed. These benefits accrue tax deferred, allowing you to maximize your savings.
• Tax advantages.
   Beneficiaries typically do not pay income taxes on the death benefits they receive. In addition, your cash value grows tax deferred. And, if your needs change, you can usually access the policy’s cash value income tax free.

It is up to you to decide which life insurance policy works for you and your family. Call your insurance agent today and discuss your options. They can help you find the right policy and coverage that fits right into your budget.