Apopka Insurance

Life Insurance

Life insurance can benefit your family in different ways. Not only does life insurance protect your family when you die, but it also can help build assets for future needs.

Term Life Insurance:
Offers protection for a specified period of time:

• The death benefit is only paid if the insured dies during the specified period
• Does not build cash value
• Can cost less than permanent insurance

Whole Life Insurance:

• You pay a guaranteed fixed premium for the life of the contract
• Premiums are invested in the insurance company's general account
• Regardless of the general account's performance, you're guaranteed to receive the policy's cash value and your beneficiary is guaranteed to receive a death benefit
• Used in funding buy-sell agreements

Universal Life Insurance:

Premium payments are flexible

Your cash value earns interest at a rate that is set periodically by the insurance company and is generally guaranteed not to drop below a certain level

A level benefit equal to the policy's original face amount

An increasing benefit equal to the original face amount plus any existing cash value

Tax-free withdrawals or loans

Used in funding buy-sell agreements

© 2009 Apopka Insurance | Partner of Florida Term Insurance