Term Life insurance: Provides death protection for a specific time period. It is the simplest form of insurance and provides temporary life insurance protection on a limited budget. There are relatively small premiums for large amounts of coverage. It provides extra life insurance coverage while raising a child. It is affordable, renewable, convertible and the premiums are adjustable. Whole Life Insurance: This is a permanent life insurance policy until death. Premiums are uniform and accrue cash values. The guaranteed cash values can provide needed monies in the future to help with unexpected needs or emergencies. Premiums are paid and uniform for life. Policies earn dividends and cash values accumulate and are available to you upon surrender of policy or to borrow against as an interest loan. Universal Life Insurance: This policy has a flexible premium and an adjustable benefit. It accumulates account value. You can change the amounts of coverage as your needs change. It provides death protection given to your beneficiaries when you die. It provides flexibility, security, tax-free death benefit and tax deferred account value growth. Which coverage is for you? That depends on what you are looking for - Death benefit, Duration of coverage & Premiums. Call and speak to a representative to discuss the various options and see which policy is right for you. |
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