Life Insurance
Life insurance can be a valuable tool for safeguarding your family and loved ones after your passing. Instead of leaving behind unpaid debts, funeral costs, and other daily expenses, your beneficiaries can receive a tax-free payout or death benefit. This can help provide them with financial security and stability during a difficult time. By investing in a life insurance policy, you can prepare for the worst while still planning for the best.
Find the right coverage for you. We offer different types customizable coverage options…
Term Life
Think about term life insurance, like renting a house. You are paying for it and have coverage during your term. Once your term is up, you no longer have life insurance. If the unthinkable happens during the coverage period your policy will pay benefits to your named beneficiaries. If you live past the selected time, the policy will simply expire.
Whole Life
Both whole and universal life is more like owning a house. Whole Life is lifelong coverage (as long as premiums are paid). Once you choose your policy with the premiums and benefits that suit your situation. There's no need to worry about any changes to the benefits or an increase in cost. With whole life insurance, the cash value of your policy grows tax-deferred. This means that you won't have to pay taxes on the growth until you withdraw the money. The cash value is a valuable asset that you can use whenever you need it, for whatever you choose. Additionally, whole life insurance has the potential for growth through dividends. Dividends provide an opportunity for your policy to grow more over time. They can be used to pay premiums, add to the cash value, or even be taken as cash. However, it's important to keep in mind that dividends are not guaranteed.
Universal Life
Both whole and universal life is more like owning a house. Universal life insurance can be viewed as a compromise between the straightforwardness of term life insurance and the lasting advantages of whole life insurance. This type of insurance offers extended protection that has the potential to accumulate cash value and can be personalized to suit your specific needs. Having a universal life policy is all about having flexibility to choose the benefits you want now with the ability to adjust your policy later as your needs evolve.
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