Life Insurance
Life Insurance 101
What is Life Insurance?
Life Insurance is simply an agreement (policy) between you (the insured) and an insurer (insurance company). The agreement requires you to pay premiums to keep the agreement active in exchange the insurer will pay a lump sum (death benefit) to whomever you have selected to receive the sum (beneficiary(s)) when you pass away.
Death benefits can be used for whatever purpose the beneficiary(s) may choose, so they are not just to cover the cost of funeral/final expenses. They can be used for anything including rent/mortgage, child care, education, income replacement, etc. There are no restrictions on what a beneficiary may use the lump sum towards.
Typically the death benefit is tax-free.
Two Types of Life Insurance
Essentially there are two types of life insurance: Term and Permanent. Term life insurance lasts for a set timeframe (usually 10 to 30 years), while permanent life insurance lasts your entire lifetime.
Term insurance is like renting an apartment or renting a car. It’s for a specific period of time and provide you the protections or the means of transportation, without the requirement or rights to ownership.
Permanent insurance is like owning a home. The premiums stay the same protection remains the same and just like in your home you build equity in most permanent products some cash accumulation is built.
Our advisors will work with you to find the best fit for your core.
Insurance Cost
The cost of life insurance is based on a variety of factors including age, health, gender, smoking habits and the legacy amount you wish to leave for your core. An analysis is performed to help determine the cost, based on the results our advisors will present options within your budget.
Beginning to create a legacy for your family and loved ones
is only one step away!
888-929-CORE
Mailing Address:
14109 Brandywine Rd
Unit 126
Brandywine, MD 20613
Our A Rated Carriers
CIF values our clients’ needs and offers products from only top-rated companies. From family coverage, mortgage protection, final expense, IUL insurance products to fixed rate indexed annuities, we are confident that we can propose legacy solutions from a long list of the top-rated carriers that will meet our clients needs.
