Life & Health Insurance Coverages
Your family depends on you. If you died suddenly, would their standard of living slip significantly? Who would pay your children’s college tuition? Who would pay your mortgage and other debts? Learn more about what financial instruments are available to protect your family.
Term Life
Term life insurance pays benefits if the death of the insured person happens during the “term” of the policy, which can be a period of time from one year to as much as 20 years.
Whole Life
Whole life insurance pays benefits no matter when the insured person dies. (It is called “whole life” insurance since it is in force the whole lifetime of the insured person.)
Traditional Whole Life
Traditional whole life insurance provides a level premium and consistent death benefit during the length of the life insurance policy.
Universal Life
Universal life insurance (sometimes called “adjustable” life) is permanent life insurance that allows flexibility in premium payments and death benefit. After the insurance company deducts insurance costs and expenses on a periodic basis, premium payments earn a rate of interest, usually based on a money-market interest rate.
Variable Life
Variable life insurance combines death protection with an investment element. The policyholder chooses to direct premiums amongst a menu of choices of stocks, bonds and money market mutual funds. The policy allows the policyholder to earn market-based investment returns on premiums, but also places the investment risk with the policyholder rather than the insurance company.