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Universal life insurance (UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate Often 2%
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary. Term insurance is typically the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis
.Whole life insurance is the most common type of permanent life insurance policy that people purchase, according to the Insurance Information Institute. Like most permanent life insurance policies, whole life also offers a savings component called "cash value.Let us get you a quote Today
There are several ways families pay for college, unlike a traditional savings or investment accounts which don’t guarantee a payout, you can secure a guaranteed payout of $10,000 to $150,000 with an endowment life insurance policy. Once the policy matures, you can use the payout money to help cover college expenses – or anything else your child needs for a successful future. The College Plan places no restrictions on how the money is used.
As the name implies, mortgage Protection life insurance, or mortgage protection insurance, is there to repay your mortgage in the event you die or become unable to work. We offer Simplified coverage that does not include any medical exam.Once the policy is Issued the client is also eligible for a living benefit as well. This means that the policy holder doesn't have to die in order to collect He or She can collect up to 90% of the Face amount in the event they become Critical,Chronic or Terminal.
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