Mailing address- 15912 Crain Hwy Unit B #284 Brandywine, MD 20613
types of life iNsurance defined
Whole Life Insurance
These policies are designed for individuals who want guarantees and who are focused on providing death benefit protection over cash value accumulation.
OFFERS
- Guaranteed death benefit (based upon the claims paying ability of the insurance co)
- Guaranteed cash value
- Potential additional cash value by the receipt of any dividends declared by the company.
- Although not guaranteed, dividend payments are generally declared annually by the company
- Level premiums that are guaranteed to never change
Universal Life Insurance
May be ideal for the consumer who has a need for life insurance, is somewhat conservative, and wants the guarantees of a fixed, minimum interest rate with the potential for additional interest credits.
Increasing the death benefit may be subject to additional underwriting approval.
OFFERS
- Flexible death benefit
- Flexible premium
- Policy cash values are credited a current interest rate that is set by the insurance company, which is subject to change, but will never be lower than a guaranteed minimum interest rate. (based upon the claims paying ability of the insurance co)
Indexed Universal Life
May be ideal for those who need death benefit protection but are focused on cash value accumulation for lifetime needs such as supplementing retirement income.
Increasing the death benefit may be subject to additional underwriting approval.
OFFERS
- Flexible death benefit
- Flexible premium
- Cash value grows based on an interest crediting strategy that is tied to changes in a market index such as the S&P 500.4
- Downside protection through minimum guarantees3 to ensure that your cash value will not decline due to decreases in the Index.
Term Life Insurance
May make sense for those who have budget limitations, large protection needs or temporary need.
OFFERS:
- Guaranteed death benefit for a fixed period
- Fixed premium
- No cash value
- Coverage is for a certain period of time (term), usually for a specified number of years or to a specific age of the insured
- Initial premiums tend to be lower but will eventually increase
Final Expense Insurance
Final expense insurance is a type of whole life insurance designed to cover medical bills and funeral expenses when you pass. A final expense policy is also known as burial or funeral insurance
OFFERS:
- Whole life insurance – no expiration if premiums are paid
- Cash value – insured may be able to take out a policy loan
- Fixed premiums as long as they’re paid
- Simplified issue – usually no medical exam is required, just health questions on the application
- Easy application process
- Fast approvals – coverage can often be issued in days
- Affordable rates