Term life insurance is simple and affordable , providing a fixed amount of insurance for a specific period of time. In the event of your death, the policy pays a tax-free benefit, to your beneficiaries. Term life provides temporary protection, you can customize to meet your changing needs.
Term Insurance is available from 10 to 40 years( depend on age). Term life insurance is affordable, easy-to-understand coverage that gives you flexible protection. Your insurance costs will remain the same for a specific period of time (the "term"), until it renews for another term. And with most term policies, you can also convert your coverage to permanent insurance regardless of any changes to your health, occupation or lifestyle.
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Permanent life insurance
Permanent life insurance is often called whole life insurance because it covers you for your whole life and some types can build cash value over time. Permanent insurance costs are usually guaranteed not to increase from the time you first buy the policy. Your life may change but your coverage won’t. Help provide lifetime financial security for your loved ones, while building your wealth.
It’s guaranteed lifelong coverage that protects the people you care about. But it’s more than just insurance. Over time your policy can build value you can access for cash during your life, with certain tax implications.
You can access money in your policy through a loan or a withdrawal. And when you die, the people you’ve chosen receive a tax-free payment.
This is a very good decision to get whole life insurance at the youngest age because the cost is very less for young age and you can choose to pay premium for limited time like pay10, pay15 or pay 20 and then you don’t need to pay any more . If someone wants to get permanent life insurance at an older age they can still get it and can choose to pay for life time a level premium.
Permanent life insurance provide a guaranteed cash value and guaranteed insurance payout.
Participating life insurance
Lifelong insurance protection for your family with the potential to grow your wealth tax-free.
Participating life insurance is a type of permanent whole life insurance coverage that can be eligible to receive dividends. It’s lifelong coverage that pays whomever you choose a tax-free payment when you die. Your policy is guaranteed to grow in cash value as long as you pay your premiums. Cash value is the value of the insurance policy that you can access as cash. Your insurance payout is reduced when you access your cash value.
The amount of coverage you choose and your premiums are guaranteed for life. You can use the dividends to buy more coverage, reduce your annual premium cost or earn interest inside the plan. Or you can take them in cash. Dividends are not guaranteed.
This is a very good plan if you want to leave a larger estate to your loved ones and, if needed, benefit from liquidity for your retirement.
Universal life insurance
If you are looking for insurance coverage with an investment and saving component Universal Life Insurance fulfill your need.
Universal life (UL) insurance is a form of permanent life insurance with an investment saving element with low premium. The price tag on universal life (UL) insurance is the minimum amount of a premium payment required to keep the policy. The savings component of a universal life policy allows for tax deferred investment growth that can be used in many ways while you are still alive, such as adding to your retirement income. Beneficiaries only receive the death benefit.
You can choose cost of insurance (COI) according to your needs. Limited period payment option is also available. You can choose level cost of insurance for life time, limited time like pay10, pay15 pay20 or annual renewable term (ART). To keep your policy active you need to pay minimum payment. If you want to put more money for investment purpose you can overfunding in this policy.
Are you planning to buy a home, or do you already own a home? Irrespective of your answer to this question, you need mortgage insurance. No matter where you are on the home ownership spectrum, you will need mortgage insurance. When you take out a mortgage, it is for the long-term, and anything can happen to you during those years. Notwithstanding your marital status, you need to protect yourself and your family. Come in and let me determine what mortgage insurance is right for you. You may choose from:
Mortgage Life Insurance:
Mortgage protection insurance is a life insurance policy that pays off your mortgage if you die prematurely. Mortgage protection insurance is a decreasing term life insurance policy or you can get level term life insurance . In other words, the death benefit on the policy is designed to go down over time along with your mortgage balance with the decreasing term life insurance and with the level term life insurance death benefits will remain same over the term period.Your monthly premium, on the other hand, stays the same throughout the life of the policy..
Mortgage Disability Insurance:
In some cases, mortgage rotection insurance also can provide coverage if you become disabled. However, this type of policy is less common and has more benefits. Your mortgage payments are for the long-term and depending on your age, may even last up to the legal retirement age. Again, any eventuality can occur during this time. This type of insurance covers your mortgage payments if you should become seriously ill or injured.
Don’t leave your investment to chance, let us chart a way forward to protect your assets and your family.