Life insurance is about loving and caring of your family. Life insurance has many advantages that can be quite personal, but it is one of the few financial instruments you can choose to protect your family.
Life insurance of all varieties has many common attributes. Your premiums build a security for your loved ones in the event of your death. When your life insurance is paid to your beneficiary they receive the insurance pay-out free of income tax.
Types of Life Insurance
KIS Financial can help you decide what type of insurance is best for your situation and your budget. Our specialty, Bank On Yourself policies are totally customizable to the cients needs and have turbo charged cash value accumulation.
- Mutual Dividend Paying – Whole Life Policies
- Bank On Yourself
- Term Life Policies
Whole Life Insurance
It’s a type of permanent life insurance. It’s called permanent because a whole life policy provides life-long protection and is guaranteed to do so by the insurance company. With whole life, you pay a fixed premium for life, instead of the increasing premiums found on renewable term life insurance policies. A whole life policy has the most security and you can access 85 to 90% of your cash value whenever you want. Regular premiums pay both insurance costs and cause equity to build in the savings account. Policies can be designed with an increasing death benefit and is an excellent way to save for college or finance purchases.
Term Life Insurance
Term Life Insurance provides death protection for a stated time period, or term for a specified premium. It is usually considered the simplest form of life insurance. It was developed to provide life insurance for a limited period of time, for an inexpensive rate. Since term insurance can be purchased in large amounts for an inexpensive premium, it is well suited for short-range goals, such as to cover loans or income replacement during child-raising years.