Term Life Insurance

Term life insurance is a type of life insurance policy that is payable for a certain amount of time. You can purchase term life insurance in increments of 1 year, 5 years, 10, years, 15 years, 20 years, and 30 years. These policies are payable within the years chosen. For example a $100,000 30 year term policy purchased in 2000 will pay the benficiary $100,000 from the death of a covered insured if they were to die before 2030.The premiums stay level and never change. But the policy does expire if not used. Term life insurance policy are very inexpensive and very popular among financial experts. These policies are perfect for mortgages or any other situation where life insurance is needed on a budget.

Return of Permium Term Life Insurance

ROP Term Life Insurance is unique in that it works just life a term life insurance policy, but it pays back your premiums if the policy is not used plus interest. It is a little more expensive than term life insurance but the return of premium feature does return premium if the policy is not used.

Permanent Life Insurance

Whole Life Insurance Is a life insurance policy that remains in force for the insured's whole life. There is no cut off and payments should never increase. It is more expensive than term life insurance policies but does not expire as long as premiums are paid.

Universal Life Insurance Is a type of permanent life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, which is drawn from the cash value if no premium payment is made that month. The interest credited to the account is determined by the insurer; often it is pegged to a financial index. Because only the amount of interest credited and not the cash value itself varies, UL policies offer a stable investment option. A similar type of policy that was developed from universal life policies is the variable universal life insurance policy, or VUL. VUL's allow the cash value to be directed to a number of separate accounts that operate like mutual funds and can be invested in stock or bond investments with greater risk and potential reward. Additionally, there is the recent addition of Equity Indexed Universal Life contracts that invest in Index Options on the movement of an Index such as the S&P 500, Russell 2000, and the Dow (to name a few). These type of contracts only participate in the movement of Index and not the actual purchase of stocks, bonds or mutual funds. They may have a cap (but not always) as to the maximum amount they will credit interest to and a minimum guarantee which keeps the principal of the contract from losing money in a down year. Typically each year the starting point is last year's ending point which means that: (1) the policy amount is locked in at the end of the year; and, (2)the beginning value from which the movement measured is reset.

Answer these questions  to see what policy is perfect for you!

1. Only interested in the cheapest type of life insurance? 
2. The biggest debt concern you have is your mortgage?
3. You have other investments to leave your family well taken care of?
4. You have short term loans & debts that you do not want left to your family?
5. The highest amount of coverage at the cheapest price, for a specific amount of time?
6. You are very limited on your budget for what you can afford for now?

If you answered YES to most of these questions, Term Life Insurance may be your best option.

1. You are looking for coverage to cover your family through your retirement?
2. Life Insurance to you is an investment?
3. Its possible you'd like to borrow against a life insurance policy one day?
4. Would you like protection for your entire life?
5. You want to leave your loved ones debt free even into your retirement?
6. Do you own a business?
7. Do you have a business partner?
8. You may or are responsible for someone who will depend on you for many years?
9. You have long term debt?

If you answered YES to most of these questions, Permanent Life Insurance may be your best option.
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