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Family life insurance

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 Insurance


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 Insurance


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 Insurance


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.

Call 718-848-7610 for your free price quote!

Insurance services provided by Stanley K. Raj
Main Street / New York Inc. Insurance Services
108-05 Liberty Avenue Richmond Hill, NY 11419
718-848-7610
Fax: 718-848-1375
Email :
sraj1865@gmail.com
Licensed by the State of New York
License No.: BR860-300

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