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Life Insurance
Have you ever asked yourself if your current life insurance is a good fit for what you are trying to accomplish? Ever feel that you may be paying too much for too little? Would you be able to explain the type of life insurance you carry and why? Perhaps you currently do not have a life insurance policy in place.
Here at Blue Chip Consultants, we serve our clients with utmost professionalism and with a careful listening ear. As an independent firm, we have access to a full array of life insurance products with many of the top writing carriers. We understand that not everyone has the same goals with their life insurance, and not everyone has the same circumstances.
Please contact us today for a no obligation life insurance analysis. By reviewing your present policy and listening to what your needs are we will make the most suitable recommendations to help you achieve your life insurance goals.
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Basic life insurance types include:
Term Life Insurance (Temporary)
The most basic, and generally least expensive form of life insurance for people under age 50. Term Life Insurance provides full life insurance coverage for a specified term of years for a specified premium.
Whole Life
Combines permanent protection with a savings component. As long as you continue to pay the premiums, you are able to lock in coverage at a level premium rate, with some accruing as cash value.
Universal Life
Similar to whole life with the added benefit of potential earnings on the savings component. Universal life policies are also flexible in regard to premiums and face value. Premiums can be increased, decreased or deferred, and cash values can be withdrawn. You may also have the option to change face values.
Variable Life
Offers fixed premiums and control over the policy's cash value. The cash value is invested in a choice of stock, bond, or money market funding options. Cash values and death benefits can fluctuate based on the performance of the investment choices. Capital gains and other investment earnings accrue tax deferred as long as the funds remained invested in the insurance contract.
Universal Variable Life
The most aggressive type of policy. Like variable life, you decide the investment in mutual funds, though there are no guarantees on these policies beyond the original face death benefit.