What is Term Insurance?

Term insurance is exactly what it sounds like. It’s insurance that will cover you for a term. The three primary terms are term 10, term 20, and term 30.

Term 10 Insurance

  • Premiums are fixed for 10 years
  • The plan is guaranteed renewable and convertible without a medical
  • Level tax free death benefit

Term 20 Insurance

  • Premiums are fixed for 20 years
  • The plan is guaranteed renewable and convertible without a medical
  • Level tax free death benefit
  • Great for mortgages and young children
  • One of the most popular for mortgage protection

Term 30 Insurance

  • Premiums are fixed for 30 years
  • The plan is guaranteed renewable and convertible without a medical
  • Level tax free death benefit
  • Great for mortgages and young children
  • One of the most popular for mortgage protection

20 Pay Whole Life Insurance

  • Lifetime protection
  • Premiums paid up in full after 20 years
  • Guaranteed Cash Value/Return on premium
  • In some cases PAID UP INSURANCE
  • Cash Value Grows each and every year after 20 years.

Benefits of 20 Pay Solution

  • Lifetime protection
  • Fixed premiums for only 20 years
  • A tax free death benefit
  • Guaranteed paid up after 20 years
  • Coverage stays with you for life.

Permanent Life 100 Pay Whole Life

  • Level Cost of Insurance payable for life or to age 100
  • Lifetime protection
  • Guaranteed Cash values at different points in time
  • Access to cash should a worst case financial scenario occur

Universal Life – Level Term – 100

  • Level Cost Premiums for Life
  • Paid up in Full at age 100 yrs
  • Never any Premium Increases
  • Investment Component Optional for Deferred tax protection
  • Any investment is paid out to beneficiary tax free

Universal Life or U.L (YRT or Yearly Renewable Term)

  • Lifetime protection
  • Investment Component feature
  • Product more catered for the investor savy individual.
  • Increasing tax sheltered cash value (assumes 7% rate of return)
  • Paid out tax free to beneficiary including the investment portion
  • No guarantee that the premiums will stay the same for life as its based on yearly renewable so as you get older the cost of insurance increases
  • Cash value can be used to offset premiums if you are sick or unemployed
    In the case of UL – Yearly renewable Term.