- Term life insurance is life insurance which provides coverage for a limited period of time, the relevant term. After that period, the insured can either drop the policy or pay annually increasing premiums to continue the coverage. Term insurance is often the most inexpensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis.
- Universal life insurance A type of permanent insurance that offers some additional features and advantages over Whole Life. Universal life accumulates cash value through investment of the premium payments. The unique feature of universal life insurance is that it has flexible premiums, benefits and payment schedules, all of which are tied to market interest rates and the performance of the investment portfolio. Universal life policies typically provide more consumer information, such as how much of the policy payment goes to insurance company overhead expenses, reserves and policy proceed payments, and how much is retained and invested for savings.
- Return of premium life insurance is a type of term life insurance policy. The concept is that the policy returns the premiums you have paid for coverage over that fixed term period if coverage is never used. For instance, a $1 million policy bought for $50000 over a 30 year period would result in the $50000 being refunded to the policyholder.
- Second to die or Survivorship insurance is a type of life insurance on two people (usually married) that provides benefits to the heirs only after the last surviving spouse dies. This differs from regular life insurance in that the surviving partner doesn’t receive any benefits after their spouse dies. Thus, second-to-die insurance is used for estate planning.
- Annuities – Series of payments at fixed intervals, guaranteed for a number of years or lifetime. Similar to a pension, the money is paid out of an investment contract under which the annuitant(s) deposit certain sums (lump sum or installments) with an annuity guarantor, usually a government agency or an insurance firm. The amount paid back includes principal and interest, either or both of which may be tax exempt.
- Disability insurance, often called disability income insurance, is a form of insurance that insures the beneficiary’s earned income against the risk that disability will make working (and therefore earning) impossible. It includes paid sick leave, short-term disability benefits, and long-term disability benefits.
- Life Settlements – A life settlement is a transaction in which an existing life insurance policy that is no longer needed or is in danger of lapsing is offered for sale to institutional investors in the secondary market. Individuals over the age of 70 may find their policy is worth more than the cash value available under a surrender of the contract. The financial enterprises that purchase life settlements will maintain such policies until the insured’s death.
- True One Stop Brokerage Service
- Policy Audit Service
- Multiple Carrier Quoting
- In House Underwriter For Impaired Risk Assessment