What is Life Insurance?

A life insurance policy provides a financial safety net for your family in the event of your death. Essentially, when you purchase a life insurance policy, you’re exchanging regular premium payments for a lump sum payment, also known as a death benefit, to your loved ones when you die. It is essentially a contract between an individual and an insurance provider, where the company promises to pay a specified amount of money to the family or beneficiary of the individual, in return for regular payments over a period of time. These payments are known as premiums and are usually paid on an annual basis. The individual who buys the insurance is known as the policyholder.

How Does Life Insurance Work?

Life insurance benefits are typically paid when the insured party dies. Beneficiaries file a death claim with the insurance company by submitting a certified copy of the death certificate. Depending on the type of policy you have, life insurance can cover:
A. Natural Deaths
B. Accidental Deaths
C. Suicide
D. Homicide

What Kind of Life Insurance Do We Offer?

Term Insurance

Term insurance is a type of life insurance that provides coverage for a specific period of time or years, i.e., a term. This type of life insurance provides a financial benefit to the nominee in case of the unfortunate demise of the insured during the policy term.

Whole Life Insurance

Whole life insurance, or whole of life assurance, sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date.

Variable Life Insurance

Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash-value account with money that is invested, typically in mutual funds. As a permanent life insurance policy, variable life insurance pays a death benefit to your beneficiaries when you die. The coverage then lasts until your death (in contrast to a term policy, which has a set term).

Group Life Insurance

A group health insurance plan is usually offered by employers to their employees who are then covered through the same policy. The insurance is at a lower cost than what it would be for each individual as the risk is spread out over a group.

Disability Insurance

Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work functions.

Long Term Care Insurance

A long-term care insurance policy helps cover the costs of that care when you have a chronic medical condition, a disability, or a disorder such as Alzheimer’s disease. Most policies will reimburse you for the care given in a variety of places, such as your home, a nursing home, an assisted living facility, and an adult day care center.