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- Term Life Insurance provides your family with a guaranteed death benefit paid out over a specific period of time (the term). Terms generally last for 5, 10, 20, or 30 years and premiums remain constant. Given that benefits are only paid during a set term, rather than during a lifetime, term life insurance is the least expensive life insurance policy.
- Whole Life Insurance offers consistent premiums and guaranteed cash value accumulation. Premium payments are made throughout the policy owner’s lifetime and can used to build up the cash value on tax-deferred basis. Whole life is recommended for long-term responsibilities such as a surviving spouse’s income needs and post-death expenses.
- Universal Life Insurance (UL) offers flexible premium payments, death benefits, as well as a money market-type savings element, which pays a market rate of return. Policy owners can move money between the insurance and savings components, and therefore enjoy more flexibility than whole life insurance. The death benefit, savings element, and policy premiums can also be altered as the policyholder’s circumstances change.
- Health Insurance helps to cover the cost of medical expenses in case of injury or illness. Policy holders may pay premiums directly to the healthcare provider or be reimbursed for out-of-pocket expenses. Plans vary in their coverage of preventative care, prescription drugs, vision, and dental.
- Accident Insurance provides cash benefits to cover the medical and out-of-pocket expenses that can result from an accidents and accident-related injuries. These costs may include medical treatment and exams, hospital stays, transportation, lodging, as well as insurance deductibles.
Critical Illness Insurance
- Critical Illness Insurance provides a lump sum cash benefit should the policyholder be diagnosed with one of the critical illnesses listed in the policy. In times of medical crisis, critical illness insurance can protect you and your loved ones from financial burden and allow you to focus on getting well.