Life Insurance Options

Life Insurance comes in many shapes and sizes, customizable to your age, investment experience, income, and other important factors. JKJ can advise you on what kinds of life insurance policies make the most sense given your lifestyle.

We can help to integrate these policies with your other insurance carriers, your tax liability, and your future plans. Life insurance, far from being only to provide your beneficiaries with money upon your death, can be used as tax shelters, as a means of earning high-interest income on your money, and as part of other investment strategies.

Types of Life Insurance:

• Term Life
• Whole Life
• Universal Life
• Variable Life
• Variable-Universal Life

Under a Term Life contract, the insurance company promises to pay the beneficiaries a sum of money in the event that the policy holder dies within a period of time defined in the contract (such as 5, 10, 15, 20 or 30 years). Term Life is like leasing a car; at the end of the term the contract expires and nothing is owned.

A Whole Life contract provides a minimum level death benefit upon the insured's death or the policy maturity that is equal to the death benefit.

Universal Life combines term insurance and a side-fund investment into a single contract. These are interest-sensitive and allow for a more flexible premium payment schedule, varied by the policyholder.

Variable Life insurance policies fluctuate according to the investment performance of the underlying mutual funds which support them. They have a minimum death benefit and no guaranteed cash value.

Variable Universal Life allows the policyholder the choice of variable, separate, investment accounts in which they may deposit funds, and can increase or decrease accordingly.