If you are going to make a good choice when purchasing life insurance, you need to understand what type of policies are available. When you buy life insurance, you want a policy that fits your needs at a reasonable cost. Your first step is to determine how much life insurance you need. Next, you need to decide how much money you can afford to pay.
Policies Offered:
Term Policies - Provide life insurance for a specified period of time.
- Whole Life Insurance
- Universal Life
- Variable Life
- Variable Universal Life
An annuity is a unique financial vehicle designed to help people accumulate money for their retirement and/or turn a lump sum of money into a guaranteed stream of income payments.
- Deferred annuities offer the advantage of tax deferral* and are used to accumulate money for retirement. There are two types of deferred annuities: fixed and variable.
- Fixed deferred annuities pay a fixed rate of interest. Variable annuities usually offer investment divisions such as stock, bond, money market, and specialty investment divisions, and fluctuate in value.
- An Income annuity is used to generate a stream of income payments that are guaranteed to last for as long as you need it to - even for the rest of your life.
- Income annuities can be used by a business to pay pension benefits to retired employees or they can be used to provide for a spouse as in the case of a Joint and Survivor Annuity.
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© 2006 Stevenson Insurance