Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.
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Term Life Insurance
Secure the financial future of your dependents with life insurance. In the event of your death, the life insurance proceeds can pay for outstanding bills, mortgage debt, probate costs, and estate taxes, as well as provide an income replacement to your loved ones. Term life insurance is coverage for a specified period of time.
Permanent Life Insurance
With permanent life insurance, your dependents are assured of help to ease the financial situation of your untimely death. This coverage is preferred by persons who have needs which are most likely not to change over their lifetime.
Whole Life Insurance
Whole Life Insurance is a fixed premium payments policy that pays a benefit to the designated beneficiaries in the event the insured dies.
Universal Life Insurance
Universal Life Insurance is a flexible premium policy insurance that pays a benefit to the beneficiaries upon the death of the insured. The policyholder may adjust his plan depending on his coverage needs during the lifetime of the policy.
Universal Variable Life Insurance
Variable Universal Life Insurance has the premium flexibility of universal life insurance. As variable life insurance, it also allows the policyholders to choose how to invest the premiums. Hence, the returns of the life insurance may also depend on market conditions.
Survivorship Universal Life Insurance
Survivorship Universal Life Insurance is a life insurance policy that insures two individuals in one insurance plan and pays the death benefit only until the second insured has died. As a universal life insurance plan, it allows the policyholder to vary his premium payments and the death benefit as his needs change.
Survivorship Universal Variable Life Insurance
Survivorship Variable Universal Life Insurance is a life insurance policy that insures two lives in one insurance plan and pays the death benefit only until both insured have died. It has the universal life features of flexible premium payments and death benefit, and the choice of investment options in a variable life policy.
Survivorship Whole Life Insurance
Survivorship Whole Life covers two lives in one insurance plan with fixed premium payments and pays off the insurance benefit only when the second insured dies.