Life Insurance

life-insurance

In its simplest form, life insurance is a promise between an insurance company and you, the policy owner. If you pay a certain amount of money (premium) to the insurance company, the insurance company will pay a certain amount of money (death benefit) to the person (beneficiary) you tell us to when the person whose life is being insured dies.

There are many types of life insurance. Term insurance only provides a death benefit for a limited period of time. By contrast permanent insurance can provide a death benefit and the potential to build policy cash value that you can access during your lifetime using policy loans and withdrawals. Permanent insurance can also offer the flexibility to increase or decrease your death benefit as your needs change, as well as the potential to reduce or skip premium payments.


WHOLE LIFE INSURANCE


These policies are designed for individuals who want guarantees and who are focused on providing death benefit protection over cash value accumulation.

OFFERS

  • Guaranteed death benefit
  • Guaranteed cash value
  • Potential additional cash value by the receipt of any dividends declared by the company. Although not guaranteed, dividend payments are generally declared annually by the company.
  • Level premiums that are guaranteed to never change.

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UNIVERSAL LIFE INSURANCE


May be ideal for the consumer who has a need for life insurance, is somewhat conservative, and wants the guarantees of a fixed, minimum interest rate with the potential for additional interest credits.

Increasing the death benefit may be subject to additional underwriting approval.

OFFERS

  • Flexible death benefit
  • Flexible premium
  • Policy cash values are credited a current interest rate that is set by the insurance company and which is subject to change but it will never be lower than a guaranteed minimum interest rate.

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INDEXED UNIVERSAL LIFE INSURANCE


May be ideal for those who need death benefit protection but are focused on cash value accumulation for lifetime needs such as supplementing retirement income.

Increasing the death benefit may be subject to additional underwriting approval.

OFFERS

  • Flexible death benefit
  • Flexible premium
  • Cash value grows based on an interest crediting strategy that is tied to changes in a market index such as the S&P 500.
  • Downside protection through minimum guarantees3 to ensure that your cash value will not decline due to decreases in the Index.

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VARIABLE UNIVERSAL LIFE INSURANCE


This policy design is for the customer who needs life insurance but would like to have the ability to choose how their cash value is invested.

Increasing the death benefit may be subject to additional underwriting approval.

Variable contracts are sold by prospectus. For more complete information, please request a prospectus from your representative. Please read it and consider carefully a Fund’s objectives, risks, charges and expenses before you invest or send money. The prospectus contains this and other information about the investment company.

Guarantees are dependent upon the claims-paying ability of the insurer and do not protect the value of the variable product portfolios, which may fluctuate. Variable policy holders are subject to investment risks, including the possible loss of principal invested.

OFFERS

  • Flexible death benefit
  • Flexible premium
  • Cash value grows based on the performance of the professionally managed stock, bond and money market sub-accounts that you choose. You can design a portfolio to match your comfort level and risk tolerance. Policy cash values fluctuate based the sub accounts in which you are invested and may lose value, including principal.

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TERM INSURANCE


I KNOW WHAT TYPE OF LIFE INSURANCE I WANT, HOW DO I BUY IT?

Before you can purchase life insurance, you need to qualify for it.

We will ask you to provide us with information that we then use in what is called underwriting. This is the process that an insurance company uses to determine the risk of

Second, all of this information is provided to an underwriter, this is someone who is specially trained to assess your application and determine what risk, if any, exists. Once all of your information has been reviewed, the company will either approve or deny your request. That process can take days or weeks depending on the information received.

Lastly, your agent will contact you and go over the results of your underwriting and details of your policy.

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