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Life Insurance

The most important question regarding family protection is:

"Will your family have adequate financial resources upon the premature death of the principal wage-earner for the survivor to maintain their current standard of living?" 

Purchasing life insurance solves this concern. How much life insurance you purchase and what type you buy is based upon how much investment capital your family will need in the event of an untimely death. This capital need is a function of several primary variables:

  • What are your financial life goals? 
  • What is the makeup of your existing investment capital? 
  • What are the ages of your children and grandchildren? 

We quantify the financial need (based upon your goals and objectives) to determine the amount of life insurance coverage that you require. We then develop the appropriate mix/type of life insurance to meet both your short-term and long-term goals and requirements.

There are four basic types of life insurance coverage:

Universal life offers flexibility. The amount of premiums may vary as long as the available cash value is sufficient to cover the costs of the policy. You also can opt to increase or decrease the amount of the death benefit while the policy is in force (subject to underwriting approval).

Variable universal life is designed with the flexibility of a universal life policy together with variable investment options. The cash value varies with performance of an underlying portfolio of sub-accounts. You select how to allocate the net premium among investment options (sub-accounts) offered. Sub-account values fluctuate with market conditions.

Whole life is traditional life insurance. Premiums are guaranteed in the contract for the entire time the policy is in force. You accumulate a cash value, but the insurance company determines the interest rate credited to the cash value.

Term life insurance is purchased for a specific term of years: one, five, 10 or longer. If you die during the term, your beneficiaries receive the death benefit. But, if you're still living when the policy expires, coverage ends and there is no payout. 

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