Term Life
Term Life insurance provides a level death benefit for a 10-, 20- or 30-year period. Coverage may extend all the way to age 95. Affordable term insurance can be valuable to a family or a business that shoulders the financial responsibility of meeting future needs, such as:
- Family Living Expenses
- Children’s Education Needs
- Mortgages
- Business Loans
Universal Life
Cash Value
Universal Life policies have the advantage of building cash value. Cash value may be withdrawn in the form of a policy surrender or a policy loan (subject to surrender charges, loan interest rates and policy conditions).
Flexibility
The biggest advantage of a Universal Life insurance policy is its flexibility. The coverage amount, premiums and payment schedules can be adjusted to meet your changing needs.
Increase/Decrease Coverage
With Universal Life you may increase your death benefit (subject to underwriting) or decrease your death benefit at any time. As events in your life occur, you’ll be able to make changes to your policy.
Secondary Insured(s)
Instead of having multiple life policies taken out on each of your family members, why not add them to your own policy? Universal Life allows multiple secondary insureds so that your whole family can be covered under one policy. Conversion privileges are also available at any time so that secondary insureds can have their own policy without going through underwriting.
Whole life
Whole Life insurance is a great way to ensure that you have coverage in place for your entire life. It provides death benefit coverage up to age 110, flexible payment options and access to guaranteed cash values.*
Advantages
- Guaranteed cash value that grows each year*
- Long-term financial protection against expected and unexpected life events
- A single policy to last your entire life
- Predictable and dependable coverage
- Financial protection for an unexpected death
- Provides money to pay off debts and final expenses and for family living expenses
* Cash value may be accessed through policy loan or surrender. May be subject to surrender charges, loan interest rates, and policy conditions.
Annuties
Do you ever worry you might outlive your income? An annuity allows you to grow and protect your money now, in order to provide a steady stream of income in the future. An annuity can provide income that a person cannot outlive. The frequency of payments can vary and an annuity can be structured to make payments for a fixed period of time or at a fixed dollar amount.
Annuities also grow tax-deferred, meaning taxes are not paid on interest earnings until funds are withdrawn. This can be especially beneficial for individuals who are in a lower tax bracket during retirement years.* Funds held in an annuity pass directly to beneficiaries upon the death of the annuity holder. No surrender charges would apply and the funds may avoid probate, if payable to a named beneficiary.*
Advantages
- No set up or annual administration fees
- Up to 10% of the cash value is available for withdrawal each year without penalty
- Contributions can be made at any time (minimum deposit requirements apply)
- Interest rate is guaranteed to never drop below the contract’s minimum guaranteed interest rate
* References to tax aspects are not intended to constitute tax, legal or accounting advice. Consult your legal or tax advisor for specific advice.
Long Term Care Insurance
Maintain your independence with a Long-Term Care Insurance Policy. When you’re receiving long-term care, whether it’s at an outside facility or in your own home, you want your assets to be protected. Long-Term Care Insurance allows you to transfer some of the financial risk of these costs so that you can help preserve your wealth. You choose your facility daily benefit amount between a $50 minimum and a $250 maximum, as well as a benefit period (2, 4, 6 or 10 years) and waiting period (30, 60 or 90 days), and coverage will be provided while you are in a facility or being cared for in your home. Take control of your care and help protect your assets with Long-Term Care Insurance.
Disability Income
1 in 4 adults, or about 61 million Americans now live with a disability that impacts major life activities. The most common type, mobility, affects 1 in 7 adults*. Many people believe they will be covered by Social Security or workers’ compensation if they were to become disabled, but the facts are too great to ignore. In 2016, only one percent of American workers missed work because of an occupational illness or injury**. Disability income insurance can provide a way to earn income while disabled from sickness, injury, or other disorders as stated in the policy, even if workers compensation and Social Security benefits don’t apply.
Advantages
- 24-hour coverage every day, while on or off the job
- Coverage is guaranteed renewable until age 67
- The purchased base coverage amount will not be reduced by any other disability income
- Premiums are waived after disability has lasted 90 consecutive days for as long as benefits are paid
- Multiple elimination periods are available: 30, 60, 90, 180, or 365 days