Fresno California Life Insurance
Term insurance A plan of insurance that covers the insured for only a certain period of time term not for his or her entire life. The policy pays death benefits only if the insured dies during the term.Whole life insurance A plan of insurance for life with premiums payable for a person's entire life.Universal life insurance Unlike traditional cash-value policies known as whole life universal life policy returns were freed from long-term fixed-rate contracts and replaced with policies whose returns were tied to short-term interest rates and periodically adjusted. In addition premiums and death benefits can be changed by the policyholder.To quote Suze Orman well-known author TV host and financial guru THE ONLY TYPE I LIKE FOR THE PURPOSES FOR INSURING YOUR LIFE IS TERM INSURANCE If you are smart with the money you have today and you get rid of your mortgages car loans and credit card debt and put money into retirement plans you don
Whole Life Insurance
Permanent life insurance coverage for as long as you live and continue to make timely premium payments.
With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals. The guaranteed cash values can provide money later on to help with temporary needs or emergencies.
View a listing of our Whole life policies
Features of Whole Life Insurance
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Premiums generally are level and payable for life: Since premiums are level, the younger you are when you purchase a whole life policy, the less expensive the annual premiums will be.
Our Companies also offers whole life policies that provide shorter premium payment periods, such as 15 years or a one-time payment.
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Dividends: Whole life insurance policies can earn dividends. Dividends result when our actual life insurance costs turn out to be less than we assumed in setting our premiums. When this happens, Our Companies may return a portion of your life insurance premium to you as a dividend. Dividends are not guaranteed, since we don't know our actual costs in advance.
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Guaranteed Cash Values: Unlike term life insurance, which does not accumulate any cash values, some of the money you pay into your whole life policy accumulates as guaranteed cash values. If you choose to surrender the policy, these guaranteed cash values would be available to you. Or, as long as the policy is in force, you may borrow against them as a policy loan at the current policy loan interest rate.
The amount of your guaranteed cash value depends on the kind of whole life policy you have, its size and how long you have had it. The growth in cash values is tax deferred under current federal income tax law. Borrowed amounts reduce the death benefit and cash surrender value.