Term Life Insurance:
Life insurance is a safety net that provides a tax-free lump sum payment to your
heirs upon your passing, ensuring their financial security.
- Offers affordable coverage for a set amount of time.
- Provides protection with adjustable coverage and adjustable term durations.
- Your beneficiaries will get a tax-free payout should you pass away within the
policy's term.
- Can be converted, without a medical evaluation, to permanent life insurance
before the age of 71.
Permanent Life insurance:
It is a life insurance that, provided payments are paid, offers coverage for the
duration of your life. Permanent life insurance never expires, as contrast to term life
insurance, which has a set coverage period.
- Provides lifetime protection at rates that often don't go up.
- Incorporates a dividend-paying investment component.
- Permits the borrowing or withdrawal of money.
- Pays beneficiaries a tax-free dividend.
All-inclusive Life Insurance:
It refers to a complete life insurance policy that offers both flexible investment
alternatives and lifelong protection in one all-inclusive plan by combining multiple
coverage elements.
- A kind of long-term investment-linked perpetual life insurance.
- Gives you the option to select investments and change the payment schedule.
- Offers adjustable rates for lifelong coverage.
- Assures recipients of a tax-free dividend.
Participating Life Insurance:
It's a kind of perpetual life insurance where policyholders can get dividend payments.
These dividends, which represent a portion of the insurer's earnings, can be
collected as cash, applied to lower premiums, or increased policy cash value.
- An additional type of dividend-paying permanent life insurance.
- Gives beneficiaries a tax-free dividend together with a cash value guarantee.
- Makes money available for needs related to retirement or costs.
Life Insurance with Simplified Issue:
It provides coverage based just on your responses to a few health-related questions,negating the need for a medical exam.
- Simple to be eligible for; no medical test is needed.
- Ideal for people who already have health issues.
- The range of coverage limits is $100,000 to $500,000.
- Able to give loved one’s financial security and pay for funeral costs.
