Life Insurance

| Beneficiary | Group Life Insurance | Rates locked for years without Increasing |
| Riders | Term |

Why should I buy Term Life Insurance?

Because, all of us have to face death at some point in our lives, some of us sooner than others and most of us never plan for it.

Term life insurance provides coverage for a specified period of time, which usually ranges from 5-30 years depending on your need for coverage. A death benefit amount is determined when the policy is applied for, and the beneficiary receives the death benefit if the insured dies while the policy is in-force. Some options of death benefits are $ 100,000, $ 250,000, $ 500,000, $ 750,000. Premiums on a guaranteed level term policy remain level for the duration of the policy. A non-guaranteed policy's premiums will typically remain level for a pre-disclosed period of time and then increase after that.

What if I have Term Life Insurance through my Employer, should I buy additional Term Life Insurance?

Yes, due to an employee/employer agreement, you may have Term Life Insurance through your employer but that will cease when your employment terminates, then you have to go out individually and purchase Term Life Coverage on your own. In this instance, you may have acquired health problems over the years and you are older, so now you will pay a much higher rate for the same coverage and possibly, you may not qualify based upon these risk factor changes. It is wise to always purchase an individual Term Life Insurance policy on your own, because it is not tied to your job, it’s yours to keep regardless of your employment relationship or changes in your health, age or any other risk factors.

Can the rates change over the years on a Guaranteed Term Life Policy?

No, the rates are guaranteed for the period of time that is agreed upon ( 5, 10, 20, 25, 30) as long as the premiums are paid on time.

Are the death benefits paid to the Beneficiary taxable?

No, Life Insurance death benefits are not taxable.

What is a Beneficiary?

A person named to receive a death benefit from a life insurance policy.

Are there any Options that are available to be added to a Term Life Policy ?

There are usually various options available on most term life insurance policies, including child riders, accelerated benefits riders, and convertibility options to permanent insurance coverage. Term life policies are designed to meet a specific need for a stated period of time.

What can the death benefits proceeds be used for?

They can be used for any financial liability. An example would be, rather than having mortgage payments continue after a spouses death, they may be used to pay off an outstanding mortgage balance, pay funeral expenses, outstanding medical bills, or any reason the person named as a Beneficiary chooses.