Home Life Insurance Company

Life Insurance Policies

A life insurance policy is one of the most important components of a family's overall financial plan. It can be used to meet many different needs.

Most people purchase a life insurance policy solely for the ultimate payout upon the death of the insured in order to provide for their dependents financially. However, life insurance policies can also be used to pay death taxes and estate settlement costs, to shift wealth from one generation to another or to benefit selected charities. Certain types of life insurance policies also have an investment feature in which funds accumulate while the policy is in place and may be used to pay future premiums. In business, a life insurance policy can be used to fund all or a portion of a buy-sell agreement between partners or co-shareholders.

Life Insurance policy

Life insurance policies are typically divided into two major types: term insurance and permanent insurance. Term life insurance is temporary insurance. Each year, a premium is paid to cover the risk of death during that year. Term life insurance has no cash value. The only way to collect anything is to die before the term life insurance expires. If death occurs, the life insurance beneficiary generally collects the death benefit of the life insurance policy, free of income tax.

A permanent life insurance policy is a policy that provides life insurance coverage throughout the insured's lifetime. The life insurance policy never ends as long as the premiums are paid. In addition, a permanent life insurance policy provides a savings element that builds cash value.

Start Now! Call Us or Submit a Quote Online!

Give AccuQuote a call today at 800-442-9899, and let us help you quickly and easily find the best life insurance policy without ever leaving your home or office. Or, fill out our free term life insurance quote request form.

Looking for Canadian Life Insurance? Visit LSM Insurance.