Life Insurance

Life insurance helps ensure that you and your loved ones are taken care of in the future. Choosing the right life insurance depends on your personal and financial needs.

There are several options available – the most common include:

Term Life Insurance
This provides protection for a specified period of time. This is generally a more flexible and less expensive option. It’s available in varying time periods with fixed premiums from a one year (annual renewable term) to 20-year (level term) period.

Whole Life Insurance
Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime (if premiums are paid as specified in the policy). This can be an investment opportunity, as many whole life insurance policies also build cash value over time.

Universal Life Insurance
Universal life insurance is a form of permanent life insurance characterized by its flexible premiums, face amounts and unbundled pricing structure. It can build cash value, which earns an interest rate that may adjust periodically, but is usually guaranteed not to fall below a certain percentage.

As your life changes, your life insurance coverage may need to change. too.

Some life events that may require a policy update include:

• You recently married or divorced

• You have a new child or grandchild

• You have opened or expanded a business

• Your health or your spouse’s health has deteriorated

• You are providing care or financial assistance to a parent

• Your child or grandchild requires assistance or long-term care

• You recently purchased a new home

• You are planning for a child or grandchild’s education

• You are concerned about 
retirement income

• You have refinanced your home mortgage in the past six months

• You or your spouse recently received an inheritance

• You have a sizable estate