Life insurance products we offer
Final Expense insurance is a type of permanent life insurance and alleviates the burden on your family by not only covering funeral costs but also an array of other expenses. Your family can decide how to dispense the money, which can be used for medical or credit card bills, estate taxes, legal fees, living expenses, and more. If they choose to use it to plan your funeral, they can arrange it with any funeral home.
If you have health issues, a whole life insurance plan may be easier to qualify for because most providers only require you to answer a few questions, instead of undergoing a health exam. Whole life insurance includes an investment component known as the policy’s cash value. The cash value is based on how much the return on investment is worth, and a portion of it can be withdrawn or borrowed during the life of the policy.
Universal life insurance is similar to whole life insurance because it protects you as long as you pay the premium and builds a cash value over time. But a portion of the premium you pay on the policy is put toward cash savings, while the remainder is put toward the death benefit. This cash savings account accumulates interest over time, tax-deferred, and allows you to temporarily stop paying premiums in an emergency as long as the cash value can cover the cost of the insurance. You can usually take tax-free loans against the cash value and sometimes adjust the death benefit over time.
Term Life insurance is the most affordable life insurance to buy and is meant to protect your family from loss of income after your death. It usually requires a health assessment. This type of insurance is considered temporary because it is purchased for a specific time period, known as a term, and it guarantees payment of the death benefit during that term. If the term expires, you can either renew another term or convert to permanent coverage.