What is Term Life:
Term life insurance offers financial protection by providing coverage for a predetermined time frame, known as the "term." During this designated period, if the insured individual passes away, a death benefit is paid out to their named beneficiaries. This type of insurance is often preferred because it generally comes at a lower cost for a slightly higher death benefit compared to permanent life insurance policies, making it a more accessible option for many individuals seeking to secure their loved ones' financial future.
What is Whole Life:
Whole life insurance is a specific type of permanent life insurance that offers individuals coverage for their entire lifetime, as long as the premiums are paid. It features fixed premium payments, which remain consistent throughout the policyholder's life, and it also accumulates cash value over time. This cash value can be accessed and utilized during the policyholder's lifetime for various financial needs or emergencies.
What are Policy Riders:
Policy Riders or “Riders” for short, are optional additions that you can add to an insurance policy. These additions serve to add to or enhance the coverage of your policy. Click the “Learn About Riders” link to learn what riders can do and what riders are available.
What is an IUL (Indexed Universal Life):
Indexed Universal Life (IUL) insurance is a specific type of permanent life insurance that effectively combines a crucial death benefit with an accompanying cash value component. In this arrangement, the growth of the cash value is intricately linked to the performance of a stock market index, providing policyholders with the opportunity for potentially higher returns compared to more traditional universal life insurance policies. This innovative structure allows individuals to benefit from market gains while still maintaining the protection of life insurance.