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LIFE INSURANCE
Life insurance is arguably one of the greatest gifts you can give to your loved ones upon your passing, and one of the best ways to ensure that your survivors remain financially secure. It is a tool to allow you to leave a debt-free legacy, continue to provide income in your absence, cover your children's education costs, and provide financial protection.
WHAT CAN LIFE INSURANCE PROVIDE YOUR FAMILY?
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MORTGAGE PROTECTION
DEBT RELIEF
INCOME REPLACEMENT
ALLOW YOUR LOVED ONES TO REMAIN IN THEIR HOME
GIVE THE GIFT OF A DEBT FREE LEGACY
PROVIDE FUNDS AND FINANICAL SECURITY
TYPES OF LIFE INSURANCE
TERM LIFE
TEMPORARY - Coverage is set for a specific period of time and expires at the end of the set period (5, 10, 15, 20 years).
AFFORDABILITY - Generally associated with the lowest premium cost.
DEATH BENEFIT - Fixed
WHOLE LIFE
CASH VALUE - A portion of the premium functions as an investment, building tax-deferred interest over time
AFFORDABILITY - Premiums may initially be more expensive than other forms of life insurance but remain constant for the duration of the policy
RENEWABILITY - Life-long coverage as long as the premium is paid.
UNIVERSAL LIFE
DURATION - Lifetime coverage
AFFORDABILITY - Premiums are generally flexible to allow you to increase or decrease payments
CASH VALUE - The cash value and death benefit can fluctuate based on the premium you pay and the market performance
FINAL EXPENSE
DURATION - Lifetime coverage
PREMIUM - Most policies offer level premiums
CASH VALUE - The policy owner can decide what sub-accounts to invest their cash value in. A minimum death benefit is often guaranteed. The performance of the sub-accounts will determine other gains.
Below is a complementary calculator to give an estimate of how much life insurance coverage you need to cover the cost of your life insurance goals. As always, every case is unique, and we encourage you to contact us for a more in-depth review of your life insurance needs and options.
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