What is Life Insurance?

A contract between the insurance company and policy owner where the policy owner promises to pay *monthly premiums in exchange the insurance company promises to pay a *lump-sum payment to the beneficiary when the insured of the policy passes away.

Monthly Premiums

Monthly payments that go towards the cost of insurance, cash value accumulation, etc.

Lump-sum Payment

The death benefit which is paid when an insured person dies.

Term Life Insurance vs Permanent Life Insurance

Term Life Insurance

Is temporary insurance. It helps provide protection for a set time (Often 10 to 30 Years).

Permanent Life Insurance

Provides protection throughout your lifetime. As long as you pay your premium, you will be covered. Most permanent policies can build cash value. Cash value is a savings component that is part of the policy which earns interest that you can borrow against or withdraw from while you’re living.

Life Policies

Term Life

Affordable coverage that helps protect your family by replacing your lost income in the event of your passing. Term life lasts for a set amount of time and its payments will not increase. Some term insurance offer living benefits like terminal, critical, and/or chronic illness riders.

Whole Life

Whole Life is a permanent insurance coverage which offer's guaranteed level premiums, and either a level, or graded death benefit. These policies build cash vaule that you can eventually take a loan.

Index Universal Life

Universal life is a permanent, flexible insurance coverage. clients have the ability to adjust monthly payment and the death benefit, as well as accumulate cash value