Insurance is not something you like to think about...until it's needed and then it's too late. Plus insurance coverage is a very important piece in a sound financial plan and preparing for the uncertainty of your future. Take the time now and cover your loved ones in the case of an emergency. It’s hard to predict how it will be used; however, possible situations may include:
Term life insurance may provide affordable coverage that lasts for a set number of years. Your beneficiary can use the death benefit to help replace your income, pay off debt or fund college education for your child in your absence. Term life insurance can be purchased for your temporary needs.
Whole life insurance is permanent insurance that helps provide protection usually for your entire life subject to the timely payment of premiums. Coverage can last for the rest of your life, and the premiums stay fixed regardless of age, health, or lifestyle changes.
Universal Life insurance may offer the best of two worlds — a set amount of coverage with tax-deferred, cash accumulation account based on current interest rates. This permanent insurance plan generally provides lower premiums for those people who have life insurance needs that may change in the future, or who desire the cash value build-up universal life policies can provide.
Accident insurance may provide a benefit if death or dismemberment is caused by an accident. This is a limited form of insurance which is generally less expensive.
Critical Illness insurance helps to fill the financial gaps not covered by traditional health insurance, disability, life and accident insurance. Critical Illness is an individual health insurance policy that pays a lump sum benefit after diagnosis of one the covered illnesses. This benefit can help protect quality of life. Critical Illness insurance does not replace the need for health insurance.
Single Premium Life can be a quick and easy way to combine tax-deferred living benefits with an income tax-free death benefit to maximize your legacy value.