Traditional life insurance is permanent insurance that provides you with a guaranteed death benefit, the value of which can be selected to meet your needs. Premiums, or payments, are fixed. The cash value grows on a tax-deferred basis.
Term life insurance is a cost-effective option. It provides life insurance protection for a fixed period of time, usually 10, 15, 20 or 30 years and often offers lower premiums than other products because such policies do not accumulate cash value. If you die during the term of your policy the face value of your policy will be paid to your beneficiaries.
Universal life insurance is permanent insurance with the flexibiliry to adapt to your changing financial needs. You can increase and decrease your policy's face value or your premium payments. The cash value of your policy grows based on non guaranteed credited interest rates, providing the potential for a competitive rate of return.
Variable universal life insurance policies allow you to invest a portion of your premium in various subaccounts, each of which may be invested in stocks, bonds or money market accounts. The policy's cash value earns a rate of return that fluctuates with the market and carries with it an element of risk.
Survivorship life insurance is a cost-effective policy that insures two people under one policy, the proceeds of which are avail able to pay estate taxes and other estate settlement costs.
Disability income insurance policies protect you from losing your entire income because of an unexpected illness or accident.
Long term care insurance picks up coverage where health and disabiliry insurance leave off. Long term care refers to the assistance required for activities of daily living over an extended period of time for a patient living at home, in an assisted living facility, or in a nursing home.
An annuiry is a contract that provides an income for a specified period of time. Annuities are investment solutions that can be an important tool for your retirement plans.