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Life Insurance

Some of the most common reasons individuals obtain life insurance are:

  • Maintaining financial stability in the event of an untimely death
  • Cover expenses such as funeral costs, mortgage, college tuition, etc.
  • Avoid inheritance taxes,  pay off estate taxes, or transfer wealth
  • Leave a legacy to children, family, or a charity
Term Life Insurance: Term insurance provides protection for a term, or a specified period of time. That term period might be 10 years, 20 years or 30 years. You receive temporary coverage in return for the policy cost.  The low initial expense often makes term insurance an attractive choice, and term may make sense for short-term needs.

Whole Life Insurance: Whole life is the traditional permanent life insurance.  It provides a guaranteed amount of death benefit and a guaranteed rate of return on your cash values that build up within the policy.  Additionally, the premium is “level” and guaranteed to never increase for life.

Universal Life Insurance: Universal life is a type of permanent life insurance. Traditional features of UL include:

  • Flexible premiums
  • Adjustable death benefits
  • Cash values credited with current interest rates

Like other forms of permanent life insurance, UL policies offer income-tax free death benefit coverage for up to a lifetime. They can also let policyholders accumulate cash on a tax-deferred basis for needs such as supplemental retirement income, college education funding or emergency funds.