Life insurance is used to protect the financial security of the people you love by giving them a tax-free payment after you die. The amount and type of coverage you choose will depend on your circumstances and needs. The cost of life insurance you buy depends on your age, gender, and medical history.
The death benefit paid from a life insurance policy is a tax-free, lump-sum amount that can be used to:
- Replace your income so your family can maintain their standard of living
- Provide for your children or dependents
- Pay for funeral expenses
- Pay off your debts
- Make a gift to charity
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Types of Life Insurance?Permanent Life Insurance
Term Insurance -
What is Term Insurance?Term Life Insurance, is the least expensive and least complicated type of life insurance. Term insurance is used for immediate needs it can be converted to a permanent life insurance without providing medical proof of health. Premiums are guaranteed to remain level for the term of Life Insurance. If you die within the specific term period, the death benefit that was purchased is paid to your beneficiary.
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Who Can I designate as a beneficiary to my life insurance policy (Term Insurance)?You can designate anyone you wish as your beneficiary to your policy.
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Will my premiums keep increasing?No your premiums are guaranteed to remain same for the duration of the term of the policy.
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How much do I have to pay each month?The amount of monthly premium depends on your age, gender, and the amount of the policy.
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If I have blood pressure or cholesterol, can I still get life insurance?Yes, you can still get life insurance policy.
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Can I get Term life insurance if I am a smoker?Yes, you can still get life insurance even you are a smoker.
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Can I convert my term policy into a permanent policy?Yes you can convert your term policy into a permanent policy with medical.
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What is Permanent Life Insurance?Permanent Life insurance is for those who want lifetime coverage with built-in savings, the comfort of guaranteed premiums and the ability to earn dividends. Whole Life plans or Universal Life plans covers all permanent insurance needs, including funeral costs, estate settlement costs, paying debt, and any other financial need. Features include:
- Guaranteed cash values that can provide you with access to the funds through partial surrenders and policy loans
- Policy dividends (not guaranteed), allows you to share profits based on the participating account performance and are payable after the first policy anniversary
- Access to cash accrued within your policy when you want it
- An option to pay premiums for 20 years or for the life of the policy.
- Savings growth in tax-advantaged accounts
- Automatic premium loans, where accumulated cash values can keep your policy in force if you are unable to pay premiums for a period of time
- Children’s coverage with our Whole Life > Head Start™ policy to ensure your loved one is covered for life
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Will the premiums keep going up for Permanent Life Insurance?No the premiums are guaranteed for the duration of the plan for the permanent life insurance.
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Can I buy life insurance if I smoke or chew tobacco?Yes you can buy life insurance even though you smoke.
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Can husband and wife buy a joint plan?Yes husband and wife can buy a joint plan.
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How much do I have to pay each month for Insurance policy?The monthly premium depends on the amount of coverage you choose, your age, gender and amount of the insurance.
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If I have blood pressure or cholesterol can I still buy insurance?Yes, you can still get a life insurance policy.
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Do I have to pay premiums for the rest of my life?No, you can set up your plan so that you only pay premiums for 10yrs, 20yrs, 30yrs or upto the age of 65.