Term life insurance provides temporary life insurance protection for a specified period of time such as 5, 10, 15, 20 or 30 years. Whole life insurance provides lifetime protection and is a type of cash-value policy also called ordinary life insurance. Variable life insurance allows the cash value and death benefit to fluctuate based on the performance of underlying investments.
Term life insurance provides temporary life insurance protection for a specified period of time such as 5, 10, 15, 20 or 30 years. Whole life insurance provides lifetime protection and is a type of cash-value policy also called ordinary life insurance. Variable life insurance allows the cash value and death benefit to fluctuate based on the performance of underlying investments.
Term life insurance provides temporary life insurance protection for a specified period of time such as 5, 10, 15, 20 or 30 years. Whole life insurance provides lifetime protection and is a type of cash-value policy also called ordinary life insurance. Variable life insurance allows the cash value and death benefit to fluctuate based on the performance of underlying investments.
• Period of protection is temporary • Lifetime protection
• Renewable • Generic name for a cash-value policy • Called ordinary life insurance if premiums are payable • Convertible throughout the lifetime of the insured and limited payment life insurance if the premium period is less than the insured’s lifetime Yearly ble renewa ghjhhh Variable Life Insurance • Issued for a one-year period . •jnjkbjbjjbknkklklkkjbjkkjjbkbknkjkjn • Similar to a mutual fund maتىىىىىىىىىىنللغعغعلintained by the insurer. • The death benefit and cash surrender values will increase or decrease with the investment experience of the separate account. 5-,10-,15-,20-,25-,or 30-year term Universal • Unbundling of protection Lنىتنننننننننننن and saving component ife • The premiums paid during the term period are level, but they increase Insurance • Two forms of universal life insurance when the policy is renewed. • Considerable flexibility Term to age 65 • Cash withdrawals permitted • Favorable income-tax treatment • Provides protection to age 65, at which time the policyexpires can converted to a permanent plan of insurancتنتالتااالتاتارتفاارتتالنتالنe, but the decision to convert must be exercised before age 65. Indexediversal life insurance Decreasing term • Minimum interest rate guarantee. • The face amount gradually declines each year. • Additional interest may be credited to the policy and there is a formula Reentry term for determining it. • Renewal premiums are based on select (lower) mortality rates if the • Provide more complete disclosure than policies not federally regulated. insured can periodically demonstrate acceptable evidence of insurability. Current assumption whole Return of premium term insurance Variable Universal Life Insurance life insurance • Product that returns the premiums at the end of the term period, • Sold as investments or tax shelters. Endowment insurance provided the insurance is still in force.