About life insurance
Life insurance can be the foundation of your financial strategy and can help you leave a lasting legacy.
It provides financial protection for your beneficiaries when you die. Some life insurance policies also accumulate cash value, offering a living benefit that can be used for supplemental retirement income, funding for a child's education or cash for emergencies.
Types of Life Insurance Offered
1. Term Life - temporary coverage for a specific period of time. The initial cost is generally lower than permanent insurance, and it gives you a good start to get a protection your family needs. Some term life policies can be converted to permanent life policies at a future date, ask your agent about it.
2. Permanent Life – lifetime protection, no matter how long you live. Many policies are designed with a cash accumulation feature for added financial flexibility.
* Access to cash values through borrowing or partial surrenders can reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.