Risk Management

Get help managing and protecting your assets, your family’s assets and your business assets.

Life Insurance

There are several types of life insurance but the two major ones are Term Life and Permanent Life. Term life is affordable and provides a fixed amount of insurance for a specific period of time. This policy does not accumulate cash value and is significantly less expensive than an equivalent permanent policy but will become higher with age.

Permanent life insurance is often called whole life insurance because it covers the remaining lifetime of an insured and it accumulates cash value over time up to its date of maturity and the cost are usually guaranteed when you buy the policy. The owner can access the money in the cash value by withdrawing money, borrowing the cash value, or surrendering the policy and receiving the surrender value. Some permanent insurance plans enable you to pay up for a limited number of years.

The three basic types of permanent insurance are whole life, universal life, and participating.