- 2600 Michelson Dr. Suite 1400 Irvine, CA 92612
- info@fnisc.com
- +1 800-745-5866
What is a term life insurance?
Term life insurance provides death protection for a stated time period, or term. Since it can be purchased in large amounts for a relatively small initial premium, it is well suited for short-range goals such as coverage to pay off a loan, or providing extra protection during the child-raising years. FNISC can help.
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Fax: 800.753.0569
Comparing Term to Permanent Insurance
Term Life
- Provides coverage for a limited time period (term), if premiums are paid.
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Provides a death benefit, but typically no cash value.
- Initially, less expensive form of life insurance.
- May be renewable or convertible.
Permanent Life
- Provides lifetime coverage, if premiums are paid.
- Cash value accumulates over time and creates an asset which may be used during your lifetime.
- Level premiums.
- Some types of permanent insurance offer flexible premium payments and level or increasing death benefit options.
Typical Uses for Universal Life Insurance
- Access to cash value (âliving benefitsâ) for life's opportunities
- Helps provide for a family's loss of income, mortgage costs, and educational needs
- Estate, special needs, and business planning
Universal Life Insurance
This permanent policy allows you the flexibility to raise or lower your coverage or your premiums as needed. It even helps you potentially build account value you can use during your lifetime.
Survivorship Universal Life Insurance
Covers two people. The death benefit is paid when the last person insured under the policy dies. Survivorship Universal Life is an efficient way to assist with a variety of planning needs such as cash for estate expenses, business transition planning or funding a special-needs trust.