Life Insurance Plans

Life Insurance Plans - Southeast Michigan | Beechtree Insurance Agency - life-insurance-plansTerm life is the simplest and least expensive type of policy. It's Life Insurance with no cash value account. A term life policy has only one function: to pay a specific lump sum to whoever you've designated, upon your death. The policy protects your family by providing money they can use to replace your salary, as well as to cover final expenses incurred by your death. You can choose a Return of Premium option to get all your money back in the event you out live your policy (Free Insurance is the best kind!)

Whole Life

Whole life insurance provides permanent protection for your dependents while building a cash value account that you can take loans or withdrawals from.
 
 
How it works:
  • It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax-deferred cash accumulation.
  • It provides a fixed premium which can't increase during your lifetime as long as you continue to pay the planned amount.
  • It allows the insurance company to exclusively manage the cash value account in your policy.
  • It provides you the option to receive dividends from your policy or apply them to reduce payments.

Universal Life

Universal life insurance provides permanent protection for your dependents and is more flexible than whole or variable life.
 
How it works:
  • It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax deferred accumulation.
  • It allows you to earn market rates of interest on your cash value account.
  • It offers the right to borrow or withdraw from the policy during your lifetime.
  • It allows you premium flexibility.
  • It offers face amount flexibility.

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