Couvillier Advisors

Life Insurance

When families are grieving over the loss of a loved one, the last thing they need is the added stress of trying to figure out how to pay for a funeral, or continue paying the mortgage, or just maintaining their standard of living. Life insurance provides long-term financial security for your family when they need it most? We can help you determine the coverage amount and time period for your policy to ensure your family’s future is protected. We offer Whole Life, Term, and Universal Life insurance, as well as Accidental Death plans. To learn more about your life insurance options, contact us today.

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Life Insurance

Life Insurance Products Offered

Whole Life - Whole life insurance guarantees payment of a death benefit to beneficiaries in exchange for level, regularly due premium payments. It lasts for a policyholder's lifetime, as opposed to term insurance, which is for a specific amount of years. Whole life insurance is often purchased to cover funeral costs. These smaller Whole Life policies are commonly referred to as Final Expense insurance. The policy includes a savings portion, called the “cash value,” alongside the death benefit. In the savings component, interest may accumulate on a tax-deferred basis. The savings component can be invested; additionally, the policyholder can access the cash while alive, by either withdrawing or borrowing against it, when needed. Growing cash value is an essential component of whole life insurance.

Term Life - Term insurance is a type of life insurance policy that provides coverage for a certain period of time or a specified "term" of years. If the insured dies during the time period specified in the policy and the policy is active, or in force, a death benefit will be paid. Term insurance is initially much less expensive when compared to permanent life insurance. Unlike most types of permanent insurance, term insurance has no cash value. In other words, the only value is the guaranteed death benefit from the policy. Term insurance can have much higher death benefits than whole life insurance and is typically purchased for such things as paying off a mortgage, children's college tuition, or leaving a legacy behind for beneficiaries in case of death.

Universal Life - Universal life (UL) insurance is a form of permanent life insurance with an investment savings element plus low premiums. The price tag on universal life (UL) insurance is the minimum amount of a premium payment required to keep the policy. Beneficiaries only receive the death benefit. Unlike term life insurance, a UL insurance policy can accumulate cash value. A UL insurance option provides more flexibility than whole life insurance. Policyholders can adjust their premiums and death benefits. UL insurance premiums consist of two components: a cost of insurance (COI) amount and a saving component, known as the cash value.

Accidental Death - Accidental death insurance is usually a rider to a life insurance policy, but can also be written as a standalone policy. Similar to term insurance, it provides coverage for a certain period of time, or until a specific age, and does not typically build cash value. Unlike term insurance, it only covers the unintentional, or accidental, death (not from natural causes) of the insured. Due to the fact that natural death is not covered, most plans are considered guaranteed issue and do not require medical underwriting to be approved. Because of coverage limitations, prospective buyers should carefully read the terms of the policy. Because Accidental Death insurance is limited and generally covers unlikely events, it is supplemental life insurance and is not generally an acceptable substitute for other life insurance.

Comparison Chart

Whole Life
Term Life
Universal Life
Accidental Death
Term Permanent 10-40 Years or Age 70 Permanent 20-30 Years or Age 80
Death Benefit Level Level or Decreasing Flexible Level
Earns Cash Value Yes No Yes No
Cash Value Growth Fixed Rate N/A Fixed or Variable Rate N/A
Market Participation No No Yes No
Premiums Level Level Flexible Level
Cost $$$ $$ $$$$ $

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