Life Insurance

“It is a strange anomaly that men could be careful to insure their houses, their ships, their merchandise, and yet neglect to insure their lives—surely the most important of all to their families, and more subject to loss.” – Benjamin Franklin

Life insurance does far more than protect your loved ones from financial uncertainty if you die – it also works as a savings vehicles, in combination with annuities, investments, retirement accounts and estate planning, to maintain a sound financial foundation in life and in death.

When shopping for life insurance, consider a permanent policy such as whole life, universal life or variable universal life, over a term life policy? Temporary or also called term life insurance builds no cash value, can increase in premiums and can expire before you actually need it. Permanent life insurance offers real cash value or “equity” that you can draw on for college funding, retirement or emergencies, and in most cases the premiums remain fixed. You can even use it for a living benefit as well as a death benefit.

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