We help you purchase the life insurance that best fits your needs…
To begin with… Life Insurance helps the beneficiary (survivors) to provide capital and/or to replace income when an insured person dies or is killed accidentally. Life insurance policies come in two major types: “permanent” insurance and “term” insurance. Each of these two categories are designed, marketed, and purchased in either an employer or group environment, or on an individually-owned policy basis.
Permanent insurance is designed to remain in force for the entire period of life, usually age 100, (whereas term insurance is designed for a specific period of time, say 5, 10, 20 years or to Age 65, etc.) Permanent insurance is designed to provide different outcomes over the insured person(s)’ lifetime (s), whether it involves capital accumulation, capital preservation or merely its basic function: to be in force at the time of death. Consequently, permanent insurance premiums are higher than those for term insurance. However, these higher permanent policy premiums make policy features available that help ensure that the policy will function as promised.
Term Insurance policies are designed to be in force for a specific period of time, say one, five, ten or twenty years or “to age 65”… and assuming that the premiums are current (paid), the policy will pay the indicated death benefit should the insured person(s) die during the designated policy period. Consequently, since the insuring company’s risk is mitigated by the time limit of the policy, the premiums are lower than for permanent insurance. Correspondingly, the percentage of death benefits paid out by term insurance is much lower than those paid out by permanent life insurance.
Your choice of policy type can be decided upon after an analysis of your needs as well as the anticipated setting in which you and the policy will function. While your needs may include loss-of-life and survivor-living indemnity, college savings, business continuation agreements, mortgage protection and the like, your environment could include personal health, hobbies, sports activities, anticipated travel, employment category, family responsibilities, etc. Then, with premium as a consideration, we will help you to design a plan that will provide you with the features you desire - and a plan you will be able to keep… and/or adjust as the various components of your setting and needs change.
We can help you…
… to design a life insurance plan that will fit your needs… one that you can keep as long as you wish, consistent with your changing life needs and your premium goals
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