An essential part of financial planning, a life insurance policy can help replace income that would be lost upon your death. It also can help ensure your dependents are not burdened with significant debt at a difficult time, or provide a cash infusion to your business to meet ongoing expenses and obligations.
Purposes of Life Insurance
Providing financial security for future events: Insurance is not just for those unexpected emergencies. It is a crucial part of long-term financial planning, able to help ease the burden of the life events you can anticipate.
Life Insurance Options
Term Life
- Length of Policy: Stated in policy
- Death Benefit Options: Face value
- Policy Cash Value: None
- Investment Choice: N/A
- Regulatory Agency: Insurance
Whole Life
- Length of Policy: Life
- Death Benefit Options: Face value (dividends)
- Policy Cash Value: Fixed rate, guaranteed
- Investment Choice: No
- Regulatory Agency: Insurance
Fixed Universal Life
- Length of Policy: Life or Selected Period
- Death Benefit Options: Face value and/or face + cash value
- Policy Cash Value: Current Rate, Guaranteed Minimum
- Investment Choice: No
- Regulatory Agency: Insurance
Variable Life
- Length of Policy: Life or Selected Period
- Death Benefit Options: Face value and/or face + cash value
- Policy Cash Value: Variable Rate, No Guarantee
- Investment Choice: Mutual Funds
- Regulatory Agency: Insurance and securities
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With our guidance and support, you can be confident that your family will be well prepared for the future.