Types of Life Insurance

Term Life Insurance

Term Life Insurance provides a death benefit that pays the beneficiaries of the policy holder throughout a specified period or “Term”. These periods are typically 10, 20, or 30 years at a time. Term Life Insurance can be a great option the because of its affordability.

Advantages of Term Insurance

•  Inexpensive at younger ages, allowing you to buy higher levels or coverage.
•  Good for covering needs that will disappear in time, such as mortgages or car loans.
• Option to convert to permanent coverage without reassessing health.
• Tax Free Death Benefit

At any time during your term you can convert your policy to something permanent that fits your family’s ever changing needs without proof of insurability, or replace your Term insurance if you qualify which would extend your years of coverage.

Term Insurance can be a great option to provide you a peace of mind for your future, however as time passes the term policy will eventually become more expensive and eventually expire. At Matherne Insurance and Financial Services, we want to help you decide on the best option for you now and in the future. We welcome the opportunity to provide you with a complimentary consultation answering any questions you may have.

Whole Life Insurance is a type of permanent Life Insurance that covers you your “Whole Life”. It includes a cash value that grows over time. When the policy has built enough cash value, you can borrow against the funds while you’re still alive. Unlike other types of Permanent coverage, the cash value in a whole life policy is guaranteed to grow at a set rate.

Advantages of Permanent Life Insurance

•  Tax-deferred wealth accumulation.
• Tax Free Death Benefit
• As long as premiums are paid, protection is guaranteed for life.
• Allows cash accumulation that can meet ongoing living expenses and finance future needs like a child’s education, car loan, or mortgages.
• Less Expensive in older ages.
• Premium can be stretched out over your lifetime or for a number of specified years.
• Cash Value continues to grow even after the policy is paid up.

Whole Life Insurance can be a great solution to a family’s ongoing financial needs. At Matherne Insurance and Financial Services, we want to help you decide on the best option for you now and in the future. We welcome the opportunity to provide you with a complimentary consultation answering any questions you may have.

Universal Life Insurance is permanent Life insurance that offers a savings element. Universal life policy holders have the option to pay premiums above the minimum required to cover their life insurance. The additional premium amount is invested and grows tax-deferred, providing cash value for future use. Universal life policies allow policy holders to shift money between their insurance and savings components. Premiums can even be paid using the accumulated savings.

Advantages to Universal Life

•  Offers Flexible Premiums
•  Potential for Higher Cash Accumulations than other Permanent Plans
• Allows Policy Loans
•  Tax-Freee Death Benefit
•  Offers Level and Increasing Death Benefits

Universal Life Insurance brings a lot of potential to serve you and your family’s ever-changing needs. At Matherne Insurance and Financial Services, we want to help you decide on the best option for you now and in the future. We welcome the opportunity to provide you with a complimentary consultation answering any questions you may have.

Index Universal Life Insurance

Index Universal Life (IUL) can help you build wealth and leave behind something for your loved ones. It’s a cash value insurance policy that gives market gains tax free without the risk of loss in a market downturn. The policy increases in value through

cash value component. This component earns interest through an underlying stock market index like the S&P 500, which tracks the 500 largest US companies. As the index moves up or down, so does your return.

Advantages of Universal Life Insurance

• Cannot lose any cash value growth from prior years
• Stock market returns capped with no downside loss
• No Impact on Social Security
• Tax-Free Death Benefit
• Greater flexibility and a higher potential for returns compared to a traditional UL