LIFE INSURANCE SERVICESLife insurance is about loving and caring of your family. Life insurance has many advantages that can be quite personal, but it is one of the few financial instruments you can choose to protect your family. Life insurance of all varieties has many common attributes. Your premiums build a security for your loved ones in the event of your death. When your life insurance is paid to your beneficiary they receive the insurance pay-out free of income tax. |
Life, Health, Disability
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One type of life insurance (whole & universal life) have cash benefits available while you’re living. This type of insurance, means a portion of your premium goes into a cash reserve on a tax deferred basis. You can have access to the cash value to help with education costs or to enhance retirement cash flow. KIS Financial Kaplan Insurance Services can help you decide what type of insurance is best for your situation and your budget. We can discuss these types of insurance with you:
Term Life Insurance is simple. You pay a premium for a period of time from one to thirty years, if you die during that time the insurance is paid to your designated beneficiary. Term life insurance usually has the lowest premium in the early years, making it the most affordable life insurance - initially; it does not build any cash value. However, you can be covered, for example a $1,000,000 of term life insurance for 20 years and if you die during this 20 years your beneficiary receives the million dollars Whole Life Insurance is a type of permanent life insurance. It’s called permanent because a whole life policy provides life-long protection and is guaranteed to do so by the insurance company. With whole life, you pay a fixed premium for life, instead of the increasing premiums found on renewable term life insurance policies. Universal Life Insurance is another type of permanent life insurance with these differences; whole life has lifetime protection on the premium, Universal life does not have these guarantees but there are now universal life policies where you can add a feature that guarantees that the insurance will last the rest of your life. We can discuss the pros & cons with you to determine if this is a better policy for you and give you quotes for this insurance. Contact us now with all your questions about life insurance. Call KIS Financial Kaplan Insurance Services: 240.603.6406 |