Life Insurance
We can assist you with your life insurance needs. We will work to understand your situation and find affordable solutions to fit your unique situation.
5 Facts about life insurance
- Funeral and burial expenses can range from $5000 to $30,000 depending on what type of funeral you have.
- It can pay for federal or state death tax
- It leaves money behind for loved ones to survive
- It can be a source of income during retirement or if you become disabled
- It can be used for education purposes
A Financial Direction representative can assist you in quantifying the amount of life insurance that can best suit your needs. Call us or e-mail us and a Financial Direction representative will assist you.
Types of Life Insurance Policies
Term Life Insurance
Term life insurance is the least expensive insurance coverage. It covers your life for a specific term, typically 10, 20, or 30 years. However, if no death occurs within the specified time then the policy is considered to have no cash value. However, if a death does occur within the specified time period then the face amount is paid to the beneficiary. The three different designs for term insurance are level, decreasing, and increasing.
Permanent Life Insurance
Permanent life insurance provides life insurance for your entire life. These policies can build a cash value. Cash values can be withdrawn and used for retirement, education, and emergency funds. There are several different types of designs for permanent life insurance policies. These include: whole life, universal life, and variable life insurance policies.
A Financial Direction representative can assist you with choosing the appropriate type of life insurance for your needs. Call us or e-mail us and a Financial Direction representative will assist you.
Glossary
Face Amount
Level term
Decreasing term
Increasing term
Cash value
Whole life
Universal life
Variable life
ADL
California Partnership policy
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