Life Insurance

Your lifetime earnings potential is your greatest financial asset.

Ensure that there is a minimal change to the standard of living for you or your family if the unexpected should happen. You work hard to ensure a comfortable and secure life for your family and business. Eliminate the worrisome element of risk by choosing one of our many individual life insurance options.

There are basically two types of life insurance: Term Insurance and Permanent Insurance. Both types have their purpose.

Term Insurance

Term Insurance is a basic form of life insurance that covers temporary needs like children’s education and mortgage payments or insurance protection for a specified period of time (term).

Term life considerations

  • In case of the unfortunate demise of the insured person while the policy is in force, the named beneficiary will be paid the face amount
  • Coverage is renewable at the end of the premium guarantee period usually at a higher premium because of increased age
  • Premium is initially lower than that of a permanent insurance policy but can increase at each renewal
  • Initial lower premium is an ideal choice if you have a temporary need for life insurance protection and limited funding available

Permanent Life Insurance

Permanent Life Insurance covers you for your whole life. From the time you begin your first payment until the time of your passing. Part of your premium is applied toward the insurance portion of your policy, a small part of your premium goes toward administrative expenses, and the balance of your premium goes toward the investment or cash portion of your policy. There are two types of permanent insurance: The traditional Whole Life and Universal Life Insurance.

Permanent life benefits

  • Some portion of your investment can be realized prior to death
  • Cash value portion to you the insured
  • You can take it out in the form of policy loans or cash the policy in
  • Universal Life carries Investment options for Tax Sheltered advantages
  • Interest accumulated through the investment portion is tax-free until you withdraw it

No matter what your needs are we have a solution for you. Please contact our office to discuss what type of insurance best suits your needs.