Comprehensive Life Insurance Policies in New York

A term life policy provides affordable coverage to meet your immediate needs.

In a term life policy, premiums remain unchanged for the length of the term usually for 10, 20 or 30 years. Should you or your spouse pass away during the duration of term, your beneficiaries are entitled to a guaranteed payout. For instance, you can start with smaller premiums and convert them into permanent coverage down the line. This way, you can select a product that best suits your needs no matter where you are in life.

What a term life policy can include:

●   Level premiums for 10, 15, 20, or 30 years

●   Renewable coverage

●   A built-in conversion guarantee

●   Policy customization

Whole life gives you valuable protection throughout your lifetime as long as premium payments are ongoing. Permanent insurance can build cash value over time which can be accessed for a range of purposes through loans.

What to expect from a whole life policy:

●   Tax-free death benefits and permanent coverage

●   Guaranteed stable premium

●   Immediate cash value access, which can grow tax-deferred

●   Customizable policy and add-on benefits

Like whole life, universal life offers permanent insurance that may also accumulate cash value. However, universal life offers more flexibility and can be tailored to meet changing priorities. Additionally, cash value is guaranteed to grow according to an interest rate set by the insurance company. It can also grow faster depending on market conditions.

What a term life policy can include:

●   Guaranteed death benefits

●   Flexible premiums

●   Easy entry into the investment market using cash value

●   Access to tax-deferred cash values