Life insurance is a type of coverage that pays benefits upon a person's death to designated beneficiaries. In some cases, there may be a maturity date, where the insured, if still living, can receive the proceeds.
A small premium gives you immediate coverage and provides for a large death benefit payable upon the death of the insured to provide capital to provide an income for dependents.
Tax deferred interest accounts are allowed with some types of life insurance to offer insurance in tandem with an investment component, which can allow increased funds to pass tax free to heirs. This advanced estate planning tool is used by tax specialists who maximize the estate value while using life insurance. The investment after achieving growth can enhance retirement income.
Life insurance may be divided into two classes:
Insurance is less expensive but most term periods are only temporary.
Insurance continues to the decease of the insured or alternatively pays one a level or an increasing lump sum at a certain age of maturity (usually age 100), or offers cash value or tax-advantage or premium pre-payment incentives. Where there are cash values associated with a Permanent plan, the amount of risk is reduced for the insurer. This often allows the cost of the insurance to be lowered as the increasing cash funds accumulating in the plan, increasingly reduce by replacing, the level of insurance needed.
Permanent Life Insurance plans include:
The contents of this website does not constitute an offer or solicitation for residents in the United States or in any other jurisdiction where either Peter Simons and/ or Sterling Mutuals is not registered or permitted to conduct business. Mutual funds provided through Sterling Mutuals Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus carefully before investing. Mutuals funds are not guaranteed, their values fluctuate frequently and past performance may not be repeated.
Insurance products, financial, tax and estate planning, and other related financial services are provided by CPN Financial Services and their associates and are not the business of, or monitored by Sterling Mutuals Inc.
Nicole Simons, Richard Nicholson, Damian Alexander and Wes Simons are not advisors or have any affilliation with Sterling Mutuals Inc. and cannot advise on or sell mutual funds and only represent the insurance products and services of CPN Financial.