TERM INSURANCE:

Provides coverage for a fixed period of time and typically may be renewed after the initial contract term expires. Term insurance is typically the least expensive and simplest type of coverage, but does not provide savings. The premiums are lowest when you are young and increase upon renewal as you age. Best suited to meet short-range goals, such as to cover a mortgage loan or income replacement during child-raising years.

TERM ROP:

ROP (Return-of-Premium) is a term Insurance policy that will return your ENTIRE premium if you outlive the term period of your life insurance.

PERMANENT INSURANCE:

Provides coverage for an indefinite period of time, and when structured correctly, can provide a tax-free retirement. Permanent insurance offers death benefit protection but also has a savings element which over time generally builds up cash value on a tax-deferred basis.

Whereas whole life insurance premiums remain at a fixed level for the duration of the policy, indexed universal life was built to give the policy owner flexibility with their policy. The death benefit, cash value build up, and premiums can be reviewed over time and can be changed to meet the policy owners’ needs if desired. The net premium payments are applied to the accumulation fund, which earns a guaranteed minimum interest rate.

As with whole life insurance, the cash value belongs to the policy owner, who may withdraw it or borrow against it as provided for in the policy. Unlike whole life, which only pays out the greater of the death benefit or cash accumulation value, indexed universal life pays out both the death benefit and cash accumulation value.

FINAL EXPENSE INSURANCE:

None of us like to think about how our family will cover the significant costs associated with a funeral at a moment’s notice. A final expense policy will help your family cover those costs.