IFE INSURANCE
It is common knowledge that life changes. However, what may not be common knowledge is the need to have your life insurance reviewed on a regular basis. Even subtle changes in your personal life could have a dramatic impact on the results you expected when you first put your life insurance policy into force. Moreover, the last decade has seen tremendous changes in life insurance products and the tax environment in which they exist.
WHICH ONE?DIE TOO SOON: HOW DO YOU PROTECT YOUR FAMILY OR BUSINESS FOR EVENTS SUCH AS YOUR CHILDREN’S COLLEGE FUND?
BECOME ILL: HOW DO YOU PROTECT YOURSELF FROM FINANCIAL DEVASTATION DUE TO TERMINAL, CHRONIC OR CRITICAL ILLNESS?
LIVE TOO LONG: HOW MUCH ARE YOU CONCERNED WTIH THE COST OF RETIREMENT AND THE RIST OF LIVING BEYOND THEIR INITIAL ASSETS?
Term Life
Low initial premiums make term insurance a practical alternative to permanent coverage, however, term premiums will eventually increase. If carried on, the annual premiums are likely to exceed the level premiums that could have been had with a permanent policy, without the benefit of building cash values.
Whole Life
As long as the policy owner continues to pay the premiums, there will be guaranteed death benefit, level premiums and cash value accumulation. These policies are designed and priced for an individual to keep over a long period of time.
Universal Life (UL)
Considered to be the most flexible type of life insurance. UL provides both premium flexibility and death benefit flexibility. Universal life insurance also offers the ability to accumulate cash value under the policy on a tax-deferred basis.