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Understanding Life Insurance
What is Life Insurance?
Life insurance is a contract that guarantees to provide money
for your loved ones when you're no longer here to provide for them.
In reality, it's food and clothing, shelter, a college education,
birthday parties, Christmas gifts, and all the things you wanted them to have.
When you buy life insurance, you assure your family, spouse,
and or children, that if you're not here to provide for them, they will still be taken care of financially.
So what kind of life insurance should you buy?
Because everyone's situation
is different, there are different life insurance options available. Below are brief explanations of each.
Term Insurance
Term insurance is temporary insurance for a term, usually
10,15, 20, or 30 years. It is issued with the lowest rates, which allows you to buy the most coverage for the least
amount of money. When there is a mortgage to be paid for, and a family income needed, this is a very good option.
ROP Term
This term product provides the protection
you want as well as a return of all the premiums you pay in for the term you choose. Return-Of-Premium (ROP Term) is aimed right at one of the greatest consumer objections to regular term life insurance: “I am probably not
going to die, and my money will have been wasted." With ROP Term you do not have to waste your money. Unlike regular term, ROP Term rewards you for living by giving back a guaranteed return of your total cumulative premiums paid into the policy,
at the end of the level term period, if the policy is still in force.
Universal Life Guaranteed to age 100
Universal Life Insurance Guaranteed to age 100 provides
life long protection. As long as you pay the premiums, the death benefit will be paid. These policies are designed and priced
for you to keep for your entire life.
 Premiums are guaranteed not to increase over the life of the policy.
The policy can be surrendered for the cash surrender value.
Policy loans and withdrawals provide access to your cash value.
Earnings, and certain withdrawals and loans, may qualify for tax-favored treatment.
The policy can be changed to a reduced the death benefit amount.
The cash values may be used to pay premiums for a period of time.
The cash surrender value can be used to supplement retirement income if life insurance is no longer needed.
We know of no other policy that will guarantee coverage to
age 100 for less.
Please feel free to call
us if you have questions at 1800 657 7178
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