Risk Management Insurance

Term Insurance Provides protection only for one, five, ten, or twenty years or until a specified age. When the term ends, so does the protection. May include a renewable option.

Whole Life Provides basic lifetime protection so long as premiums are paid. Face amount is paid to the beneficiary upon death of the insured. Coverage builds cash value over the years.

WHOLE LIFE-Limited payment policy Offers lifetime protection. Premiums are paid over time, such as 20 years, or until a certain age. Premiums are higher and cash value builds faster than standard whole life insurance.

Variable Insurance Premiums are fixed and protection is combined with an investment feature. Face value varies with the performance of the investment fund. Guarantees a minimum death benefit

Adjustable Life Policy can be revised as needs change. Within limits, premiums, face value, and premium payment period may be raised or lowered.

Endowment Pays the face value of the policy to beneficiaries if the insured dies before the endowment period ends. Pays the face amount to the insured if he she lives beyond the endowment period.

Group Life Available through employers, unions, or other groups. Cost less than individual policies.

Double Indemnity Provides for double benefits if death is the result of an accident.

Disability Benefits Provides for a waiver of premiums if the insured becomes permanently and totally disabled.

Insurance does not protect you from risk, it just reduces your financial loss.

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