Life Policy Provisions

Life insurance can be extremely confusing. SanBuck Insurance's helpful staff will take the time to review your life circumstances and then recommend the life insurance policy that will best supply for you and your family's needs.

• Life insurance is a tool used for the following:
  • Family Needs – Debt, Funeral Expenses, Medical Bills, Income Replacement, etc.
  • Business Needs – Keeping the business solvent, Buy Sell funding, etc.
• The most common life products in the market place are term life, whole life, and universal life insurance.
  • Term Life – Coverage is set for a specific period of time. (Ex. 10 years, 20 years, 30 years)  The premiums for level term are locked in for the term of the product.  Cheaper premiums, used for short term debt
  • Whole Life – Provides coverage for the life as long as premium is paid.  Premium is locked in for the life of the policy and benefit is paid when insured dies or reaches age 100. Higher premiums, does not increase with increase in age, ideal for final expenses
  • Universal Life – A combination of term and whole life.  This product was created to allow the insured to take advantage of high rate of returns on investments by purchasing a term policy and then taking the difference in premium of a term and whole life policy and investing it.  This product should be thoroughly evaluated due to the negative impact it can have when investments rate of returns fall and the increase of annual term goes up due to increase in age.

Contact SanBuck Insurance today about life insurance policies.