Death Benefit | Cash Value | Opportunity to Earn Dividends
The benefits of whole life insurance include guaranteed fixed premiums, a guaranteed death benefit and guaranteed cash value growth. This means that with whole life insurance, your premiums never increase as long as they’re paid, and the policy has “living benefits”, which may enable you to access the cash value of the policy for any purpose while you’re alive.1 One thing to keep in mind when taking a distribution from a whole life insurance policy is that accessing the policy’s cash values will reduce the policy’s cash value and death benefit and increase the chance the policy will lapse.
Death Benefit | Affordable Coverage | Convertible
If you’re sure you want life insurance, but aren’t sure you can afford it, a term life insurance policy may be a great option. Term life is affordable and your premium payments remain the same for the amount of time that works best for you, such as 10 or 20 years. This way, you decide how long your loved ones need financial protection. And if those needs change, many term policies have the option to convert to a permanent life insurance policy.
Death Benefit | Flexible Premium | Build Account Value
Universal life insurance provides lifetime death benefit protection along with flexibility that gives you choices as your needs and finances change. It offers options such as coverage amounts that may be increased or decreased, and premiums that you can vary based on your finances as long as there is enough money in the account to pay for the monthly insurance and administrative charges.
Death Benefit | Flexible Premium| Investment Options
Variable universal life introduces an investment component.2 With variable universal life, you can allocate net premiums and account values among divisions of a separate account and guaranteed principal account.3 You can direct a portion of your net premium payments to any of the investment options available through the separate account depending on the particular variable universal life product.
Each investment option offers a different level of risk and growth potential. One feature of variable universal life insurance (and universal life) is its premium flexibility: you can skip payments as long as your policy has accumulated enough account value to meet the monthly deductions. Also, you can add numerous riders to your policy. Riders are available for an additional premium.
Income Protection | Retirement Protection | Customizable Coverage
Disability income insurance can help protect an employee’s ability to replace a portion of their income if they become too sick or injured to work. If your employees become disabled, a group long term disability insurance policy can help protect a portion of their income and provide a fundamental layer of security for their financial future.
