Thinking about life insurance can be a bit confusing because there are many kinds of life insurance available. That is why it is helpful to consult with an insurance agent to understand the details and get adequate life insurance coverage that you can rely on. Below are a few of the life insurance policies we offer:
This is life insurance that builds up cash value over time. It is meant to be carried for a lifetime with the monthly premiums remaining the same. The cash value can be borrowed against or used to pay premiums.
This type of insurance provides protection for a specific period that can be from five to twenty-five years in five-year increments. It does not build cash value; however, premium costs are lower.
This insurance has investment qualities. It offers a guaranteed death benefit and level premium payments. A portion of the premiums is invested. This provides a return to build up cash value. This increase in value is tax-deferred until the policy matures. Any withdrawals or borrowing against the cash value, up to the amount of premiums paid in total, are tax-free.
A death benefit is paid, if a person dies during the policy term. If a person lives past the maturation of the policy term, the insured person receives the cash value that remains in the insurance policy account. This is usually less than the death benefit; however, it does provide a future windfall for those that live longer than the policy term.
There are many variations of life insurance that are derivatives from these three basic categories. Our clients consider estate planning, tax benefits, protection for loved ones, business ownership, and much more when thinking about their life insurance solutions. We help California residents find the combinations of coverage that best meets their needs and long-term goals.
Give us a call to talk about this or set up an appointment in person at our offices to meet with your agent at CKS Insurance Agency to discuss all of your life insurance needs.