Term Life
Term life insurance, also known as pure life insurance, is life insurance that guarantees payment of a death benefit during a specified term. Term life insurance policies provide a stated benefit upon the death of the insured, provided that the death occurs within a specific period.
When you buy a term life policy, an insurance company promises that it will pay your beneficiaries a set amount if you die during the policy’s term. In exchange, you pay a monthly premium to the company for the duration of that term.
Life insurance is a good idea when you have a lot of financial obligations – i.e. kids, a mortgage, and other debt. Agent makes it easy to compare term life insurance policies to find one that covers all your needs.The death benefit is a lump sum of cash paid out by the life insurance company when you die.
Whole Life
Life insurance that pays a benefit on the death of the insured and also accumulates a cash value.
Whole Life Insurance is designed to provide coverage for the life of the insured.Whole life policies generally offer fixed premiums, guaranteed death benefits and are designed to build tax deferred cash value.
Whole life insurance is a type of permanent life insurance, which stays in effect for as long as you pay the premiums. This means you never have to worry about unsuitability or losing your safety net as you get older… Your premiums payments are split between the death benefit and cash value.
Index Universal Life
Indexed universal life is a type of permanent life insurance product. Life insurance products guard against the financial loss caused by the death of the insured. There are three primary types of universal life insurance: fixed, indexed, and variable.
Indexed universal life (IUL) allows the owner to allocate cash value amounts to either a fixed account or an equity index account. Policies offer a variety of well-known indexes such as the S&P 500 or the Nasdaq 100. IUL policies offer tax-deferred cash accumulation for retirement while maintaining a death benefit.
Indexed Universal Life insurance, or Indexed Universal Life (IUL), was developed in the late 1990’s and first introduced in 1997.
Final Expenses
Final Expenses. Expenses incurred at the time of a person’s death. These include, funeral costs, court expenses associated with probating his or her will, current bills or debt, and taxes.
Final expense insurance is designed to cover the bills that your loved ones will face after your death. These costs will include medical bills and funeral expenses. Final expense insurance is also known as burial insurance. Unfortunately, even bare-bones funerals can cost thousands of dollars.
