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Agencies :: Life Insurance
TERM LIFE
This provides maximum protection for a relatively small cost. It is ideal for situations where the primary objective is to provide protection for one's family in the event of death. There is not investment component.
PERMANENT LIFE
This life insurance instrument combines death benefit with investment options. Three common types are Whole Life, Universal Life, and Variable Universal Life.
Whole Life
This is a fixed instrument that provides protection to your family in the event of your untimely death. It guarantees a predetermined amount of death benefit. It also has an investment component that accumulates cash value. Cash value is accumulated through low risk investments.
Universal Life
Similar to Whole Life, Universal Life provides both protection and investment options. It differs from Whole Life in that investment income is derived from investment in securities. With the increased investment risk also comes the higher growth potential of the resulting benefits.
Variable Universal Life
This is an instrument for providing life protection and investment options. It is invested in the financial market to provide faster growth of invested capital. Benefits include deferred tax savings, tax-free access to funds through loans or withdrawals, and tax-deferred growth on investment.
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