LIFE INSURANCE CONCEPTS
Term insurance is an effective solution for people who are focused on affordability and value, in need of temporary protection, or for business owners with a need for key person protection and/or to fund buy/sell agreements.
Also known as joint survivor life insurance or second-to-die life insurance, this ensures two lives and pays the death benefit upon the death of the second insured person. It is most common that Survivorship Insurance is utilized with a husband and wife.
Designed to leverage funds to create an estate survivors or a charity wherein a lump sum of money is paid into the policy in return for the death benefit guaranteed to remain paid-up until you die.
Known as a type of cash value life insurance where the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. UL offers flexible premiums which enable clients to adjust how much they will pay each year. Earnings rates can be tied to a financial index such as a stock or bond index.
Impaired Risk Life
Risk Life defines impaired risk as any health risk that, with most insurance companies’ underwriting, ends up with an unsatisfactory approval or decline.
Participating Life/Whole Life
Insurance that pays dividends to the policyholder and is generated from the profits of the insurance company that sold the policy. Dividends are typically paid out on an annual basis over the life of the policy and include a final or terminal payment which is paid out to the holder when the contract matures. Some policies also include a guaranteed dividend amount, which is determined at the onset of the policy.
Group insurance is offered by an employer or in large-scale entities such as associations or labor organizations to workers or members. Group insurance is usually offered as a piece of a larger employer or membership package.
Please contact us for a full list of our Annuity carriers.
Our Main Carriers
With Brendanwood Financial, we shop around to get you the best rates and coverages.