Tell Me Why Life Insurance Is Important to Own

Before we explain the differences between the many various insurance products and designs it’s helpful to get a feel for why it should be something for you to have in place.

Some people think life insurance is complicated to understand, it’s really not. What’s important to know is WHY you may need to consider it because of the many financial benefits it will provide you during your lifetime. While you may be one of those people that think life insurance is only for the benefit for someone else (which it is), to the owner of the contract (the policy) it provides a multitude of financial rewards that no other bank account, IRA, real estate investment, stock or bond portfolio, or 401(k) can provide. Because life insurance is considered a financial asset and can be structured within a person’s insurance and financial plan to satisfy many different needs it is regarded one of the most utilitarian financial products available to individuals and businesses today.

Insurance Video

Here are the different types of Life Insurance products on the market today:

Term Life Insurance (available in the following periods)

  • 1 year
  • 5 year
  • 10 year to 30 year

Available types of Term Life Insurance:

  • Living Benefits Term Insurance
  • Return of Premium Plan
  • Mortgage Term
  • Single Pay Term Insurance

Available types of Permanent Coverage

  • Universal Life (Indexed & Current Assumption)
  • Guaranteed Universal Life
  • Whole Life (Full Pay & Single Premium)
  • Hybrid Plans