There are 3 types of Life Insurance: Whole Life, Term Insurance and Final Expense.
Whole Life Insurance
A traditional whole life insurance policy provides lifetime financial protection. A whole life policy is great for anyone who wants permanent financial protection and a policy that is easy to understand. Whole life is different than term insurance due to the policy holder accruing a cash value amount over time. Whole life policies include the ability to take out loans against the policy and carries with it a variety of surrender value options.
Term Life Insurance
Term life insurance is often the most affordable coverage because it offers protection for a specific number of years. At The Crestwood Agency, we have multiple term options available to fit your needs. Auto-Owners Level Term life insurance provides a level death benefit for a 10, 20 or 30-year period. The premium is guaranteed to remain level for the entire term whether you choose a 10, 20 or even 30-year option! Coverage may extend to age 95 through various renewal options.
Affordable term insurance can be very valuable to a family or a business. Life insurance can provide the financial means to meet future needs such as:
• Family Living Expenses
• Children’s Education Needs
• Business Loans
• Business Buy-Sell Agreements
• Key-Person Insurance
• Miscellaneous Debt Obligations
• Final Expenses
Final Expense Life Insurance
Average funeral costs can easily exceed $10,000. Final expense policies are typically written with a face value of $10,000 to $20,000. We have options that require medical testing and others that don't require testing at all.
Guaranteed Renewability Benefit Rider (GRB)
This feature allows coverage to automatically renew for a 10 or 20-year term without proving insurability. This option is available on our 10 and 20 Year Level Term products. If the insured’s attained age is 60 or under at the end of the initial term, the renewal level term period will be for the same duration as the initial term. If the insured’s attained age is 61 or over at the end of the initial term, the renewal level term period will equal 10 years. After the additional term is complete, the policy will continue as an Annual Renewable Term (ART) until age 95.
Disability Premium Waiver Rider
Waives all premiums due while the insured is totally disabled, if disability occurs before age 65.
Accidental Death Benefit Rider
Provides for payment of an additional death benefit when death occurs accidentally prior to age 70.
Children’s Term Life Insurance Benefit Rider
Provides level term coverage on the insured’s children up to $10,000 each. All children born or legally adopted in the future are automatically covered, upon notification, following the 14th day of life. Protection on each child continues to age 25 when coverage may be converted up to five times the initial amount, without proving insurability.
That's why The Crestwood Agency | Insurance emphasizes setting up an insurance policy tailored specifically to your needs.
Our policy review will focus on 3 important aspects of your life insurance policy:
1) Accurate Duration and Face Value.
2) Individual & Family Protection.
3) Large Discounts
Contact Owner / Agent Jenny Noe for a Personalized Quote Today!