ANNUITIES
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Equity Indexed Annuities
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LIFE INSURANCE
Term Life
Universal Life
Indexed Universal Life
Whole Life
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Types Of Life Insurance
Different types of insurance meet different needs.
Term Insurance
Term insurance may be attractive to those who have an immediate need over a specified period of time and who wish
to select the largest death benefit which their premium dollar can purchase over that period. Term insurance pays a
death benefit only if you die during its term.
Coverage expires at the end of a specified term, which depends on the type of policy you purchase, unless your
policy permits you to renew it for a further term, or you have a contractual right to convert it to permanent life insurance.
Term insurance does not build up cash value. Learn More >>>
Universal Life
For some people, Universal Life insurance provides the flexibility they want. Like whole life insurance, a universal
life policy builds your cash value which is available to you at all times - through the premiums you pay and the interest
earned. However, universal life coverage offers three valuable features in addition to the cash value build-up:
- Flexible Premiums – Not only can you choose the premium you want to pay (within the minimum needed to keep the policy in force and the maximum allowable), you can change the amount at any time.
- Flexible Death Benefit – Universal life insurance allows you the flexibility to increase or decrease your life insurance death benefit within the same policy. As your income and assets increase, your coverage can be increased to protect them without having to buy another policy to supplement your original one.
- Guaranteed Minimum Interest Rate on Cash Value – The policy's accumulation value comes from the timely payment of premiums over the life of the contract. The monthly cost of insurance, policy loads and administration fees are deducted from this account. The remaining cash value accumulates, tax-deferred2 , at a current interest rate. The interest rate is guaranteed not to fall below a minimum rate as described in the policy.
Learn More >>>
Indexed Universal Life
Although equity indexed annuities have been around for a number of years, equity indexed universal life (EIUL) insurance is a
relative newcomer to the life insurance marketplace. EIUL is a spin on universal life (UL) insurance, a popular policy type because
you can increase or decrease your death benefit as your needs change and your premiums can be adjusted accordingly. UL policies also
build a cash value against which you could borrow or even use to pay your premiums.
Learn More >>>
Whole Life
Whole Life is a permanent life insurance, which may accumulate cash value on a tax-deferred1 basis over time.
This cash value can be borrowed against if need be. Generally, premiums remain at a fixed level for the entire
length of the contract and the contract has a specified death benefit. Many people appreciate this feature,
because it means their premiums will never go up, regardless of age or health, once the policy is issued
(a particular advantage if you're young).
This type of coverage also "locks in" your insurability as long as your insurance remains in force, which means
you don't have to worry about an increase in the cost of your insurance if you acquire certain medical conditions
in the future. Your coverage, your premium and your benefit are assured.
Learn More >>>
So what's the next move?
A key to understanding life insurance is to have one person you can trust and work with. As a representative of
numerous insurance carriers we can help you choose the right insurance for your life and help you understand how
insurance fits into an overall financial strategy.
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