Life Insurance

A life insurance policy can be used to provide funds at your death to:

• Create an estate for your heirs
• Pay off your mortgage
• Pay taxes owing on your estate
• Pay off business loans and lines of credit
• Pay off personal loans
• Fund buy-sell agreements
• Final Expense
• Legacy
• Charity funds

Term Life Insurance

Term life insurance is well-suited to meet high, short-term protection needs for the lowest initial cost. For example, a couple with young children and a mortgage might select term life insurance as an affordable way to get the full coverage they need today.

Term life insurance coverage can do a good job of meeting immediate needs and may provide the opportunity to later move or convert to permanent life insurance without providing proof of health.

Term plans may also be renewable after 5, 10 or 20 years without providing proof of health. The price increases as appropriate for your age at renewal. You can convert a term 10 plan to a term 20 plan between the first and fifth policy anniversary or the insured’s 65th birthday, which ever is earliest.
You can purchase term life insurance as an initial step before purchasing permanent life insurance.

Whole Life Insurance

Whole life insurance provides permanent, lifetime protection for a level premium. Depending on the plan you buy, whole life insurance spreads the cost of your coverage over the lifetime of the policy or over a limited period of time.

Universal Life Insurance

Universal life insurance is the most flexible life insurance available today. You can customize your plan when you buy it, or easily make changes later on. And universal life offers you the opportunity for tax-advantaged investing. This gives you the chance to increase your wealth by investing money within your policy.

Universal life insurance combines permanent life insurance protection with a tax-advantaged investment component. As cash value accumulates, you can use it to pay part or all of your insurance charges.

Participating Life Insurance

Participating life insurance combines permanent life insurance protection with a tax-advantaged savings component. It can protect you for life, provided your premiums are paid when due. Participating life insurance policies also have a potential to receive policyholder dividends.