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Retirement Planning Services
14 Pierson Dr
Wallingford, CT 06492
Phone: (203) 265-2681

Life insurance can provide financial protection for your family or business in the event of your premature death. Whether you are looking for guaranteed death benefit protection, low-cost coverage or consistently strong cash value accumulation potential, there is a product to meet your needs. As with all types of life insurance the death benefit is paid to the beneficiary income-tax free.

The Benefits of Life Insurance
•Provides financial security for your loved ones
•Can provide benefits for the policyowner or insured while he or she is living

Types of Life Insurance
Term Life Insurance
Term Life Insurance is the most basic type of life insurance and the least expensive. Term Life Insurance provides death benefit coverage with a guaranteed level premium for a specific period of time - usually 10, 20, or 30 years. Most term life insurance policies can be converted to a permanent product at a later date.

Term Life Insurance may be right for you if you want:
•An affordable way to get maximum coverage
•To cover specific financial responsibilities like a mortgage or college expenses
•To protect your loved ones against financial hardship
•To supplement your Permanent Life Insurance during periods when coverage needs are higher, such as family-building, mortgage-paying years
Some things to consider about Term Life Insurance:
•There is no cash value accumulation
•Continuing your coverage after your policy expires can be very expensive due to older age
Universal Life Insurance
Universal Life Insurance is a permanent insurance that offers customizable and flexible premium options. This type of life insurance allows you to pay premiums at any time. As long as your premiums are paid, your policy will remain in force no matter how long you live.

Universal life insurance also has a savings feature called cash value. Each payment you make to the contract pays for your insurance coverage and then the access is invested to build cash value that you can use in the future. The insurance company invests this cash value and credits interest to this account. The cash value in your account also grows income tax-deferred allowing it to accumulate faster.

Universal Life Insurance may be right for you if you want:
•Long-term death benefit protection with flexible premiums
•Low-cost coverage
•Strong cash value growth potential
Some things to consider about Universal Life Insurance:
•Cash value growth is based on periodically-declared fixed interest rates. Should rates fall, cash accumulation could suffer, and higher premiums may be needed
•Changing your policy's premium or death benefit can affect your policy's performance and guarantees, possibly requiring higher premiums later.
Whole Life Insurance
Whole Life Insurance usually requires premiums to be paid on the policy for the rest of the insured's life. Premiums remain the same while the policy is in force, which is until the insured dies (or reaches age 100). When the insured dies, the policy pays the face amount or death benefit to the beneficiary. As long as the insured lives, however, and continues to pay the premiums, the cash value in the policy accumulates year by year.

Whole Life Insurance may be right for you if you want:
•Fixed premiums that will not increase
•A guaranteed death benefit payout
•Cash value that is guaranteed to grow each year tax-deferred
•Dividends that can be used to increase the value of the policy
Some things to consider about Whole Life Insurance:
•Premiums are initially more costly than Term Life, but are guaranteed not to increase
•Dividends are not guaranteed
•Loans and withdrawals can reduce the death benefit payout

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