Life (Permanent/Term)

What is life insurance?

Life insurance is a contractual agreement between the policyholder and an insurance company, in which the latter agrees to pay a sum of money in the event of the death of the insured person.

The main objective of life insurance is to guarantee economic protection and financial stability to loved ones.

Are there different types of life insurance?

Yes, and each one brings together different benefits depending on the needs and budget of each individual:

PERMANENT LIFE INSURANCE:

It’s a policy that lasts the insured’s entire life and accumulates cash value that grows over time and is available for use during their lifetime. It also offers living benefits that can be redeemed early in the event of a critical, chronic, terminal illness, Alzheimer’s, or serious accident.

What is an IUL policy?

IUL (Indexed Universal Life) is a type of permanent life insurance that combines:

• Life protection: Pays a death benefit to beneficiaries, just like other life insurance policies.
• Accumulation of cash value that grows with the stock market index and is protected against loss if the market.
• Compound interest, meaning it generates profits annually not only on the money contributed, but also on the interest accumulated in previous years.
• It has flexible premiums
• Death benefit: Your beneficiaries receive a federal tax-free payment when you die.
• Create a tax-free savings fund.

TERM LIFE INSURANCE:

It is a life insurance that provides protection for a specific period of time.

What characteristics does it have?

• Coverage for 10, 15, 20 or 30 years
• Lower premiums than other life insurance policies
• Has living benefits
• Does not accumulate cash value
• High coverage with low premiums