LIFE INSURANCE
Life insurance is a powerful tool to ensure your family's financial security after your passing. Without it, your loved ones may struggle with financial hardships, lack access to necessary funds, or face the loss of the breadwinner's support.​ There are two main types of life insurance policies: Term and Whole Life. Term Life insurance is cost-effective but does not accumulate any value. It covers a specific period or "term" of years. On the other hand, whole life insurance—sometimes referred to as "permanent" or "universal" insurance—offers a guaranteed payout and builds cash value over time. While Whole Life policies tend to have higher premiums, they offer the benefit of long-term financial growth.
Whole Life Insurance
Whole life insurance provides permanent protection for your family with premiums that never increase. Better still, a whole life policy builds cash value that you can use while you are living to reach your financial goals. Benefits of this type of life insurance include death benefits, cash value, and dividend opportunities.
Index Universal Life Insurance
Indexed Universal Life insurance provides a dual benefit. It provides permanent life insurance coverage and a tax-free investment opportunity. The combination of a death benefit paid to your loved ones with the increase in value of the cash component of the policy without the risk of a market downturn makes these policies an appealing option.​
The cash investment in the policy will earn interest based on the market performance of a market composite price index, such as the S&P 500 or NASDAQ, which tracks the movement of stocks. As the stock market moves up and down, the rate of return on the cash investment will vary accordingly.
Term Life Insurance
The simplest way to protect the ones you love is to purchase term life insurance. It enables you to lock in the lowest available rates for a specified period of time. If you should die within that time period, death benefits can replace lost income to help provide for the ones you leave behind. ​
You select 10, 20, or 30 years of coverage with level premiums for the initial policy period, which will increase annually thereafter. The policy may be renewable and convertible to a permanent policy.