Life Insurance

Life insurance is fundamentally a product of indemnification. The policy death benefit is intended to compensate the beneficiary for a loss suffered because of the death of the insured. More specifically, the needs covered by life insurance would include the following:

• Outstanding Debt (mortgage, car loans, etc.)
• Final Expenses (medical bills, funeral costs, probate costs)
• Emergency Fund Education
• Fund Specific Family Objectives
• Estate Liquidity Estate Equalization

What types of insurance are available?

Term Insurance - the lower premium alternative, term insurance protects our
families if we die during a given time frame.  It generally renews every 10
or 20 years and premiums can increase significantly as we age.  There are no
cash values with these plans.

Permanent Insurance - though initially more expensive than term, permanent
insurance protects our families when we die.  Premiums generally stay the
same and the death benefit and cash values can increase over time.