Term life insurance is simple and affordable. It provides protection for a defined period of time, and is especially helpful when life insurance needs are high, and funds are limited. In the event of death, it pays a tax-free cash benefit (death benefit) to your named beneficiaries. The cost is locked in for the term of the policy, so you know exactly what you will pay!
This term life insurance coverage may be right for you if:
Participating life insurance provides lifelong protection, and the opportunity for tax-advantaged, cash value growth, throughout the life of the policy. If you pass away, it pays a tax-free cash benefit, called a death benefit, to your named beneficiaries. Coverage and premiums are guaranteed for life, and you may also receive dividends within the policy that can be used to increase coverage, decrease premium payments, or even taken out as cash.
This coverage may be right for you if:
Universal life (UL) insurance provides lifelong protection, with an investment component. UL provides flexibility and customization based on your risk profile and objectives. In the event of death, it pays a tax-free cash payment, called a death benefit, to your named beneficiaries. Your premiums are deposited into a policy fund that will be used to pay for the insurance costs. The remaining balance of funds is invested on a tax-advantaged basis in a variety of investment options.
This universal life insurance coverage may be right for you if: