"Blueprints for Life"
203 753 9071
Life
Life Insurance
We see Life Insurance as mainly 3 different categories: TERM, WHOLE LIFE & UNIVERSAL LIFE.
Below you will find these types of insurance explained. Please contact us to inquire about life insurance products we sell for these categories.
Term Insurance
Term is RENT! Term Insurance is a policy to temporarily cover the insured's life. It can be used when you only want coverage for a finite period of time. This type of coverage is the cheapest, but it does not build cash value that you could 1035 exchange or withdraw. Term can be converted to permanent.
• Are current premiums guaranteed?MAYBE (depending on plan)
• What are premium levels for life?MAYBE (depending on plan)
• Coverage past age 80?MAYBE (depending on plan)
• Recovery of premiums or opportunity cost?NO
Whole Life Insurance
Whole life is true ownership.
• Are initial face value guaranteed?YES
• Are premiums guaranteed?YES
• Is cash value guaranteed?YES
• Will there be growth in insurance?YES, if dividends are used to buy paid-up insurance.
• Waiver provision?Covers premium, allowing both cash value and death benefit to continue
With a Mutual company dividends can be used to pay premiums after out-of-pocket payments cease. Cash value and coverage continue to increase, although the increases will be smaller than if premiums were paid in cash.
Universal Life Insurance
Universal is term insurance disguised as permanent. This product also is written as Variable Universal Life (see Variable Life* below).
• Is face value of insurance guaranteed?MAYBE (with conditions)
• Are premiums guaranteed?MAYBE (with conditions)
• Is cash value guaranteed?NO
• Growth in insurance?Some contracts have increasing death benefits.
• Waiver provision?Only covers term cost.
Issued by stock companies, so stockholders demand a return. Premiums funded by cash values if payments stopped. Risk is transferred from insurance company to policyholder. Risk is greatest in later years when ability to change coverage is limited or impossible due to health and/or cost.  
The Freeman Group  |  1525 Hamilton Ave  |  Waterbury, CT 06706Phone: 203 753 9071  |  Fax: 203 575 0442
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