Life & Health Insurance
Life insurance is a crucial step in planning for your and your family's future. It can fulfill promises and obligations to your family if you are no longer living.
There are also benefits to certain types of life insurance policies during your lifetime.
- The cash-value growth of a permanent policy is tax deferred. You do not pay taxes on the cash value increases while inside the policy.
- The cash value earned and borrowed from a permanent life insurance policy can be used to help with emergency expenses, college costs or retirement income. Policy loans reduce cash values and death benefits and may be subject to other charges outlined in the policy.
Term Life Insurance provides protection for a specified period of time. Initially the cost is low for this type of coverage, but premiums will increase as you age. These policies, however, may be easily convertible to permanent coverage.
Permanent Life Insurance consists of a variety of coverages from fully guaranteed premiums, values and death benefits to complete flexibility of premiums, interest rates, and death benefits options.