There are various Life Insurance products:
- Term life is typically the more affordable type of life insurance. The benefit of term life insurance is that it allows you to go through period-certain coverage. Renewable term insurance may be converted to whole life insurance if permanent insurance is desired at a later point.
- Universal life insurance offers permanent insurance with flexible premiums. The cash value portion of a Variable Universal Life contract allows being invested in the stock market while still offering a death benefit.
- Whole life insurance includes a living benefit which allows policy owners to have access to the cash value during their lifetime. It provides permanent coverage that can not be canceled.
- Variable Life Insurance offers permanent insurance with flexible premiums, and has both a death benefit and cash value component. The major advantage to a Variable Life Insurance policy is that it allows you to participate in various types of investment options while not being taxed on your earnings (until you surrender the policy).
More frequently now than in the past, people are discovering that life insurance can be used as a critical part of financial planning. Life insurance offers a way for you to support your family, safeguard your business, complement estate planning goals, and make charitable gifts without reducing your estate. Life insurance can also be offered as part of a deferred compensation plan.
Age, health, type and amount of insurance sought are some of the factors that influence the cost and availability of a life insurance policy. An Alamo Capital financial adviser can help you choose the most valuable approach for your individual situation.
Alamo Capital can help you with all of your insurance needs. If you are interested in learning more about our Life Insurance products, please contact an Alamo Capital Life Insurance Specialist by calling (877) 68-ALAMO – or – (877) 682-5266, fill out our brief contact form or email [email protected].