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LIFE INSURANCE
Life
insurance is a crucial step in planning for
your and your family's future. It can fulfill promises
and obligations to your family if you are no longer
living.
- The
death benefit is income-tax free and can be used
to cover funeral expenses, repay debt, provide
education, pay estate taxes or any other expenses
your survivors may incur.
- Life
insurance may also be used to help ensure that
a family business will pass to your intended survivor.
There
are also benefits to certain types of life insurance
policies during your lifetime.
- The
cash-value growth of a permanent policy is tax
deferred. You do not pay taxes on the cash value
increases while inside the policy.
- The
cash value earned and borrowed from a permanent
life insurance policy can be used to help with
emergency expenses, college costs or retirement
income. Policy loans reduce cash values and
death benefits and may be subject to other charges
outlined in the policy.
Your
need for life insurance is dependent on your personal
and financial needs and goals. As your life
changes, your life insurance coverage may need to
be updated to adapt to your new needs. We offer
a wide variety of coverages to provide what is right
for you, now and in the future
- Term
Life Insurance
provides protection for a specified period of
time. Initially the cost is low for this type
of coverage, but premiums will increase as you
age.These policies, however, may be easily convertible
to permanent coverage.
- Permanent
Life Insurance
consists of a variety of coverages from fully-guaranteed
premiums, values and death benefits to complete
flexibility of premiums, interest rates, and death
benefits options
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