LIFE INSURANCE IS IMPORTANT


Life insurance is a contract binding a life insurance company to
compensate a beneficiary for the death of a person insured. Life
insurance is a protection of the economic value of a human life with
regards to those who may be financially dependent upon it.

Whether you're a first time buyer or have brought life insurance
before, this section contains a wealth of information to help you
choose the best policy for you.

People choose life insurance as a source of income to family for about
15 to 20 years until their children are grown, to cover a 30 year
mortgage or to replace earnings if death occurs.

There are three types of life insurance:

1.  Term Life
2.  Whole Life
3. Universal Life
Term Life

In the event of death, term life
provides financial protection
and economic stability for your
family or your business for a
specified period of time.Term
life is recommended as the
most economical insurance
policy. Many term life
insurance plans can be
converted to permanent life
insurance plans without
evidence of insurability.

If you are looking for a
temporary insurance plan or if
your life insurance needs are
long-term with a limited
budget, then term life insurance
is for you.  
Whole  Life

Whole life is known as
permanent insurance because it
stays in effect throughout your
life time. Premiums are fixed
and higher than term life
insurance.  The premiums for
whole life insurance policies
are designed to remain level
over time. Cash values can be
used for a variety of options:

1.    The policy can be
surrendered at anytime for cash
surrender value.

2.    The policy owner can take
out a loan and use the cash
value as collateral.

3.    The policy can be changed
to a reduced death benefit
amount that  is paid up.

4.    The cash values may be
used to pay premiums for a
certain period of time.

5.    The cash surrender value
can be used to supplement
retirement income
Universal Life

Universal Life is another type
of permanent insurance. As
long as premiums ar  paid, a
death benefit is paid to the
beneficiary. These policies
offer the policy owner some
flexibility to change the
premium payments and death
benefit. The cash values tend to
be interest-sensitive and can be
used for several options:

1.    The policy can be
surrendered at anytime for the
cash surrender value.

2.    The policy owner can take
out a loan and use the cash
values as collateral.

3.    The policy can be changed
to a reduced amount paid-up
whole life policy

4.    The cash values may be
used to pay premiums for a
certain period of time.

5.    The cash surrender value
can be used to supplement
retirement income.
Insurance services provided by Stanley K. Raj
Main Street Insurance Agency
108-05 Liberty Avenue
Richmond Hill, NY 11419
718-848-7610
Fax: 718-848-1375
Email : MainstreetNY@aol.com
Licensed by the State of New York
License No.: BR860-300