Knowledge Life Insurance

Life Insurance will help take care of your family in case you should die prematurely. While life insurance can be complex, your COUNTRY Financial representative will help you determine the type and amount that fits the needs of your family considering expenses like your mortgage balance, outstanding debt, and children’s education. Plus, if you are a woman, senior, or a parent of a young child, COUNTRY offers options created especially for your unique needs. Purchase your life insurance policy early in life, live a healthy lifestyle, and guarantee yourself some of the best rates available. Term Life Insurance Term life insurance policies provide affordable protection for a predetermined period of time. It is a very popular option because it provides insurance coverage at the stage of life you need it most, yet have the least amount of money to spend on it. Benefits of term life insurance: Affordable Level premiums throughout the term selected Guaranteed coverage for the amount selected throughout the term Convertible to a whole or universal policy without needing a physical exam or other further evidence of insurability if your needs change Renewable in one-year increments with gradually increasing premiums and no need for a physical exam or further evidence of insurability when the term policy expires Whole Life Insurance Unlike a term life policy, a whole life policy protects you for as long as you live. Plus, your whole life policy builds cash value and the death benefit is tax free. Benefits of whole life insurance: Permanent coverage for as long as you live Level premiums Death benefit is income tax free to your beneficiaries May be paid up before you retire and are on a fixed income Lower premium policy option that you pay throughout your life Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions COUNTRY Financial and our representatives cannot give tax advice. See a tax advisor for more details. Universal Life Insurance Universal life policies are flexible and allow you to adjust the amount of life insurance to keep pace with your current lifestyle. Plus, you can even adjust the amount and frequency of the premiums you pay, even skip payments if necessary. Universal life shares some of the same benefits of a whole life policy: Permanent coverage for as long as you live Death benefit is income tax free to your beneficiaries Cash value builds tax-deferred and can be loaned against for emergency funds as long as you meet certain conditions COUNTRY Financial and our representatives cannot give tax advice. See a tax advisor for more details. Additional benefits of universal life insurance: Withdraw funds from the policy if you meet certain conditions Offers a level death benefit or an increasing death benefit depending on your needs Offers a special guaranteed minimum interest rate. Any amount that you pay in excess of the amount required to maintain your life policy earns a guaranteed minimum interest rate in a conservative account, similar to a savings account, and builds your cash value Article Source : http://www.countryfinancial.com/SiteController?url=/insuranceInvestments/life