Why? – When your death occurs does SOMEONE you love or SOMETHING you love need cash to maintain their “standard of living” or just to survive? --Your Family, Your Business?

How Much is Needed and for How Long? – That depends – You need a Plan!

Finally, What Can You Afford to Pay?

THESE ARE QUESTIONS YOU NEED TO ANSWER!

TYPES OF INSURANCE:

Term Life:

As identified, it is purchased for a specified term of years – 10, 15, 20, 30 or to life expectancy.  The price is based on current age and the expected mortality expense over the term period selected.  The premium (cost) is guaranteed for the specified term period.  It may include a right of conversion to a permanent form.

Whole Life:

Is issued at a fixed Face Amount and fixed Premium.  Most are issued as Participating (paying annual “dividends”) – some Non-Participating.  Cash Values are guaranteed, “Dividends” declared annually.  “Dividends” may be Paid in Cash, Applied to the Payment of Premium or Applied as a Paid Up Additional Face Amount including a Guaranteed Cash Value.

Universal Life:

Is flexible as to Face Amount and as to Premium.  Face Amounts may be increased (subject to insurability) or decreased.  Premiums may be paid in any amount including $0.  The contract will remain in force as long as there is sufficient reserve (cash value) to cover monthly mortality and expense charges.  These contracts may be continued in some instances to age 125.  They may include a rider guaranteeing the contract will remain in force for a specified number of years for a guaranteed minimum premium.