What is Life Insurance?
DID YOU KNOW that life insurance preserves the financial security of your loved ones by paying them a tax-free benefit in the event something happens to you?
The amount of coverage you choose and type of insurance you buy should be based on your own specific needs, and the cost depends on your age, gender, health, lifestyle, and medical history.
Our team at KFA can provide you with the best coverage for your needs…
FACT: Most families would be financially devastated if the “unthinkable” ever happened to their key breadwinner, and that’s where LIFE INSURANCE comes in, providing you with the financial protection you need and deserve!
Types of Insurance
• Rent Death Benefit (DB): Typically No Cash Values
• T10, 20, 30 (Typically Expires Age 85)
• Option – Term to age 100
• DB: Increasing, Decreasing, Level
• Renewable / Convertible to Permanent Insurance
• Typically least expensive immediate premium but can be more expensive to maintain for a lifetime
WHOLE LIFE INSURANCE
• Buy DB + access to Cash Value during Lifetime
• Typically Fixed Deposit Schedule : 20 Pay, or Life Pay
• Option – Participating Policies (Dividends) or
• Investment Component handled by Insurance Company
• Loan Max up to 90% cash value
• GUARANTEES: Level Premium for life, Coverage for Life, Basic Cash Values
• Level guaranteed premiums which can be less expensive
overall to maintain for a lifetime
UNIVERSAL LIFE INSURANCE
• Buy DB + surplus to Cash Value (Unbundled)
• Deposits & Cost of Insurance typically NOT Guaranteed
• Investment Ceiling but NO floor: Investment Returns NOT Guaranteed
• Requires investment decisions by client over the life of the policy
• Loan Options: Policy Loans or Third-Party Loans
• When properly structured and well funded within first 7 years (250% rule), it can be the least expensive way to buy insurance
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