LIFE INSURANCE COVERAGE

For protection even after you're gone

When Life Takes an Unexpected Turn

Not only does Life Insurance take care of final expenses, but it could also be a safety net for families, a legacy for a business, a college fund and more. Without it, you could burden those left behind with overwhelming expenses. To find out more, contact our trusted partner, CPS Express at (877) 215-2608. They will inform you of your plan options and find you the best rate available.

Understanding Life Insurance

Life Insurance is possibly the most selfless type of insurance out there. It lessens the financial strain on your loved ones after you're gone. You never know when the unexpected may happen to you.

There are three types of Life Insurance plans to consider before choosing the one that's right for you.

What Types of Life Insurance Plans Are Available?

Term Life

This option is the most affordable type of Life Insurance. However, it only pays out the benefit if the named insured dies within the specified term. If the named insured does not die within that time frame, there is no pay-out and none of the premium will be returned. Keep in mind that the policy is renewable and can be amended. You should also be aware that it does not have a savings option.

Whole Life

This is a type of Permanent Life Insurance. It has fixed premium rates with no term limits. This type of insurance protects the named insured over his/her entire lifetime as long as payments are made. The insured can even borrow or withdraw money from this policy, which is a tax-deferred fund. The downside is that it has a lower rate of return than the other two insurance types.

Universal Life

This is also a type of Permanent Life Insurance. It offers lifetime coverage and a cash value. However, that value fluctuates based on short-term interest rates rather than a long-term set rate. If payments exceed the cost of the premium, the money is added to an interest-earning account. The interest rate can fluctuate, but there is a guaranteed interest rate set by the insurance company that it cannot go below. Beware that if interest rates fall, premiums may go up and/or the benefit may drop below the coverage needed. Universal Life Insurance is usually paid out to the beneficiary tax-free.

Who Can Be A Beneficiary of My Life Insurance Plan?

Anyone of your choosing, even a trust or estate, can be a beneficiary of your Life Insurance policy. If you're uncertain about whether or not you need Life Insurance, think about who you will be leaving behind if something were to happen to you.

If you have dependents, consider how many years it will be before they are financially independent, if ever. If you have a disabled child, Life Insurance is even more important to consider. Is your spouse a stay-at-home parent? How will they pay for expenses if you pass?

Maybe you own a business that you want to thrive even after you’re gone. Is there someone you trust to take the money from a Life Insurance benefit and put back into the business to ensure liquid funds? If so, you can name them as your beneficiary.

Additional Insurance Coverages

For over 50 years, customers have been trusting AIS to find them quality coverage at the best price. Why should that stop at Auto or Homeowners Insurance? We can help you find the same the peace of mind with your Health and Life Insurance policies.

Let AIS compare rates from trusted carriers for your important assets, too. Finding multiple ways to save money on your insurance premiums is what we do best. Plus, we'll see if you qualify for a discount when you bundle your car, home and more.

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