Life Insurance

Life Insurance

Coverage not just for your life, but for your life’s purpose

Life insurance helps protect those who depend on your life, so there’s no sudden monetary shortage in the event of your death. A life insurance policy can help your family recover from loss and continue to:

  • Pay for your final expenses
  • Pay off a mortgage
  • Pay for childcare and education costs
  • Cover outstanding debts
  • Complete a retirement plan
  • Access estate liquidity
  • Provide lifetime income

If someone besides you depends on your income, life insurance can help provide for your loved ones at a time when they may need it the most. 

Interested in better understanding the basics of life insurance? Check out our step-by-step guide on Life Insurance 101.

 

  • Term

    • 10-, 15-, 20- and 30-year products: Provide low-cost death benefit protection, priced to be most competitive above $1 million. One-year term product also available for short-term protection. Conversion privileges to any permanent product currently being offered.
  • Universal Life (UL) 

    • Secondary Guarantees: Provides low-cost death benefit protection with up-to lifetime death benefit guarantees.
       
    • Universal Life Current Assumption: Provides affordable death benefit protection with long-term cash value accumulation.
       
    • Survivorship UL: Provides estate planning protection for older, more conservative clients. Can also be used to fund buy-sell and split-dollar plan for businesses.
       
    • Indexed UL: Offers the flexibility and guarantees of traditional UL with greater growth potential. 
       
    • Variable UL: Accumulation-focused, designed for death benefit protection and supplemental retirement income. Also used for funding nonqualified executive benefits.   
       
  • Corporate

    • Owned Life Insurance (for Deferred Compensation):  COLI product built for financing nonqualified deferred compensation plans for corporate-owned cases.

 

In exchange for the death benefit, life insurance products charge fees such as mortality and expense risk charges and surrender fees. Guarantees are based on the claims-paying ability of the issuing insurance company.