Variable Life

This type of insurance combines flexible investment opportunities with insurance protection. Owners have the opportunity to obtain higher cash values and death benefits by their investment results. Owners can choose between a variety of fixed income or equity alternatives and make changes in the future at no cost.

WHAT TYPE OF POLICY IS RIGHT FOR ME?

Term insurance is best suited to solve a temporary need. For example, you can use the death benefits to provide enough funds for a college education or to pay off the mortgage on your house. Because it is death-only protection, it is less expensive and therefore, more attractive if you are relatively young.

Whole life insurance is best suited for older individuals with a permanent need. For example, whole life can be used to provide funds for paying estate taxes or buying a partner's business interest if your partner dies before you.

Universal life is for those who want to maintain flexibility with regard to both premiums and death benefits. It is also well-suited for those who want to build up cash values conservatively.

Variable life is used by those who want to maximize their ability to use insurance as a tax-deferred investment vehicle.