Insuring Your Life

Your life insurance needs are not only unique to you but they also change as your life changes. For example, when you have children your need for insurance increases. When your income level goes up, your insurance needs may change too.

The Right Insurance For You

There are many different types of life insurance. Which type is right for you? We'll help you sort through your insurance options and find the policy that is right for you. Some of your choices will include:

• Term Life: provides a death benefit only during a specified period of time, and does not offer an opportunity to build up cash values within the policy.
• Whole Life: permanent life insurance, as long as the premium is paid. Part of the premium is applied to the policy's cash value account, which grows on a tax-deferred basis.
• Universal Life: a type of cash value life insurance policy that offers the policyowner the flexibility to choose his or her amount of insurance, the premiums he or she will pay and the opportunity to change these amounts over the life of the policy (within certain guidelines) to meet changing financial needs. Premium payments are credited to a cash value account where the money earns interest at a rate set by the company which may change from time to time. Policy expenses are deducted from this cash value account. The policy's cash value may be accessed through policy loans and withdrawals.
• Indexed Universal Life: a type of cash value life insurance where the interest rate credited to the policy's cash value is tied to an index that measures market performance, typically a stock market index. Indexed universal life offers the opportunity to benefit from the growth potential of the stock market while typically providing the protection of a minimum guaranteed interest rate when the market is down.
• Variable Universal Life: A Universal Lfe policy that allows the policyowner to choose where the money in his or her cash value account is invested, typically in separate variable investment accounts offered by the insurer. Unlike nonvariable policies, the cash values of these separate accounts is not guaranteed by the insurance company. As a result, a variable universal life policy presents a risk to the owner because the policy values vary based on the investment performance of the separate accounts selected.