What is life insurance?

Life policies pay an amount of money, selected prior to issuance by the policyholder, to the beneficiary of the policyholder's choice.

What is term life insurance?

There are different types of term life insurance. Level term policies provide a consistent amount of insurance. A decreasing term policy starts with a specified face amount which decreases annually until it reaches zero at policy expiration. Increasing term, of which there is rare need, provides a growing amount of insurance.

Are term policies renewable?

Many are renewable, which means they can be renewed without providing the company evidence of your good health. However, because of the policyholder's advancing age, renewal premiums will be higher than previous premiums. Also, many term policies can be converted to another type of policy, such as whole life.

What is whole life insurance?
Whole life insurance, also called straight life or permanent life, is protection that can be kept as long as you live. At your death, whole life pays a lump sum benefit to your designated beneficiary. Whole life is also a cash value account. Your premiums are invested and a fixed rate of return (that may change periodically) is paid to your policy's account. There are details and limitations that you should know and that we can explain fully.

The Basics of Health Insurance

What is health insurance?

Health insurance is a protection against medical costs. This type of insurance is a contract between an insurer and an individual (or group) whereby specific health insurance is provided at an agreed-upon price. Policies differ in cost and range of protection.

Who needs health insurance?

The cost of medical treatment has soared the past few years, making this a vital insurance coverage for everyone. One major surgery or illness could inundate you with medical bills.

Families with growing children find numerous trips to the doctor inevitable and expensive over a period of time. Health insurance can give you the assurance that when you need medical attention, you can receive treatment without the threat of financial hardship.

What do I need to know about health insurance?

You need to understand the differences between HMOs, PPOs and POS plans. Compare coverage to cost and balance the two. Learn your policy; what it covers and doesn't cover. Does your policy pay for annual exams? Does it include pharmacy benefits? There are a variety of policies available to you and you will want the best policy to meet your family's needs.