Term Insurance
Term insurance is a straightforward and cost-effective life insurance policy that offers coverage for a specified period. With term insurance, you pay affordable premiums for a set timeframe, and if you pass away during the term, your beneficiaries receive the death benefit. It's a popular choice for families with young children or individuals with financial responsibilities like mortgage payments. By replacing 5 to 10 years of your annual income, term insurance ensures your loved ones are financially protected if the unexpected happens. With its simplicity and affordability, term insurance provides valuable peace of mind for the future
Income Replacement
Affordable
Temporary Covarage
Quick overview of insurances
Term
Is simple and popular. It provides life coverage and pays a sum assured to your dependents upon your passing, as long as premiums are paid on time.
Provides a larger death benefit without accumulating cash value.
Initially, a less expensive form of life insurance.
Universal
UL insurance provides flexibility with premiums and cash value. Payments can be adjusted or skipped without risking policy lapse.
Your policy can be adjusted to increase or decrease the death benefit, potentially requiring a medical exam for increases. Lowering the death benefit can help reduce premiums.
UL insurance accumulates cash value with interest based on the market or a minimum rate. Policyholders can access the cash value through withdrawals or loans.
Whole Life
As with all permanent insurance, whole life insurance provides coverage until the insured’s death.
Part of each premium payment accumulates as cash value, which you can withdraw or borrow against during your lifetime.
Your death benefit is established when you sign up for your policy and stays the same while the policy remains active.
It can be renewable or convertible.
UL policyholders can borrow against the cash value without tax implications or credit checks, but unpaid loans reduce the death benefit.
While withdrawals of more than you’ve contributed to the cash value are taxed, policy loans are not.