|
Send us an Email |
 |
Term Insurance
1 year adjustable to 30 level |
|
| Advantages |
|
- Provides death benefits for the least amount of money initially.
- Good choice for those who want protection for a certain period of time or for a specific purpose.
- Policy is fully guaranteed - guaranteed premiums, guaranteed death benefits and guaranteed renewable.
- Can be converted to permanent insurance within first years.
- Provides a measure of guaranteed insurability even though premium is high at older ages.
- Can add term insurance protection to policy on the lives of children.
|
|
| Disadvantages |
|
- Not the best choice if need for life insurance is longer than the policy term.
- Premiums increase dramatically after original policy term.
- No accumulating cash values for loans or emergencies.
- No flexibility in premium payments.
|
|
|
 |
|
| Whole Life Insurance |
|
| Advantages |
|
- Guaranteed cash values, plus non-guaranteed dividends.
- Insured can purchase future insurance options regardless of future health.
- Do not require on-going monitoring of investment options.
- Insurance company carries the risk to perform and pay policy guarantees.
- Dividends can be used in later years to reduce or pay premiums.
|
|
| Disadvantages |
|
- Little flexibility in premium payments.
- Higher initial cost than term insurance.
|
|
|
|
|
| Universal Life Insurance |
|
| Advantages |
|
- Premiums and coverage are adjustable.
- Guaranteed minimum interest rate.
- Lower premium outlay than equivalent whole policies.
|
|
| Disadvantages |
|
- Insured carries risk for policy performance.
|
|
|
|
|
Variable Universal Life
This is a product which combines the growth of equity, bond and other funds with a death benefit. |
|
| Advantages |
|
- The insured can choose separate accounts in which to participate in such options as equity, international , and bond funds.Ê The insured can chooseÊthe level of risk appropriate to the insureds goals.
- The accumulationÊ value of the separate accounts is taxed deferred.
- The death benefit can be adjusted as the need for the insurance changes.
- Premiums are flexible.
|
|
| Disadvantages |
|
- The insured assumes all the risk for the performance of the contract.
- If funds are not adequate to cover the contract's expenses, then the insured must contribute more premium.
|
|
|
|
|
| Group Term Life Insurance |
|
| Group term rates upon request |
|
|
|
