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Life Insurance
At FR Insurance & Benefits Group, we understand that your loved ones' financial security is a top priority. Life is full of uncertainties, and it's crucial to have a comprehensive life insurance plan in place to safeguard your family's future. Our dedicated team of experienced professionals is here to guide you through the process of selecting and customizing the perfect life insurance coverage to meet your unique needs.
Five Types of People Who Should Consider Being Insured
Types of Policies
While this can become confusing, we are happy to help you understand. Let's break it down.
Term
A type of insurance policy that provides coverage for a specific time period
• Sum assured is payable only in the event of death during the term
• It can be a period of as long as 40 years or as short as 1 year
• No refund of premium
• Low premium as only death risk is covered
Whole
A type of life insurance policy that pays a benefit on the death of the insured and accumulates a cash value
• Cover death for an indefinite period
• It can be with or without profits
• If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you
Universal
Universal life insurance offers lasting coverage and financial flexibility. As long as you meet premium payments and policy requirements, you're covered for life.
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Cash Value Access: Access funds or borrow against your policy's cash value.
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Premium Flexibility: Enjoy the freedom to adjust premium amounts.
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Interest Earnings: Watch your cash value grow with earned interest.
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Adjustable Death Benefit: Modify the death benefit to align with your needs.