WHOLE LIFE INSURANCE
Whole life also called 'Permanent Life' covers until the insured dies. This type of policy comes with a (tax-deferred) Cash Value account which is an awesome advantage and accumulates money at the current market interest rate without having to actually take a risk into the market and is usually based on the S&P 500 index. Funds are available to withdraw for any use while you're still alive. This is not deducted from the policy death benefit amount. Also the death benefit is tax-free to your beneficiary and/or beneficiaries.
It is made to provide protection for the insured's life to age 100. No need to renew or providing proof of insurability again. Premiums for a whole life policy are set in stone when the policy is purchased and will never change.
UNIVERSAL LIFE INSURANCE
UL is a unique type of life insurance policy in the sense that it combines both benefits of a permanent life policy, having an cash value account plus coverage to an endowed age of 100 and Term life policy affordable flexible premium and the flexibility to decre or increase the policy death benefit amount.
Universal Life allows your cash value to grow or stay at the agreed interest rate and is mirrored against the S&P 500 (Or other preferred index by the carrier.)
This is great for individuals who want to earn on the cash value account but don't want to actually participate or place risk in the stock market.
CUSTOMIZE YOUR POLICY WITH OPTIONAL RIDERS
- We can customized your coverage with options like disability waivers, extending coverage and covering your child(ren) to tailor to your wants or needs.
- Already have a policy and looking to change your policy? We'll review it with you and see where we can get the most benefit for you.