Insurance
Even as you save and invest for the future, it’s important to plan for the unexpected. That might mean setting up an emergency fund and drawing up an estate plan. But you will likely also want to consider how life insurance can help protect your family and your investments.
Worried about your financial future?
Deutsche Reserve Kb Financial Advisor can help you with the following types of insurance:
Term-Life Insurance
This is typically the least expensive way to purchase life-insurance coverage. Term policies often cover a fixed number of years, such as 10 or 20 years. Your annual premium will be based on factors such as your health history, age and gender. Many term policies offer level premium payments for the life of the policy.
In case of death before the end of the term, your beneficiaries receive a death benefit. At the end of the term, you may have the option of renewing the policy at a higher premium, reflecting your more advanced age, or converting it to a permanent policy without evidence of insurability. What if you let the policy lapse? The coverage is over—and you get nothing back.
Permanent-Life Insurance
Sometimes also known as cash-value life insurance, these policies provide permanent insurance, rather than insurance for a fixed number of years. They can also allow you to build up cash value, which you can then use during your lifetime or bequeath to your beneficiaries. If you use the cash value during your lifetime, your death benefit will be reduced.
Cash-value policies, which involve higher premiums than term insurance, come in three varieties. Whole-life insurance has fixed premiums and the ability to have your cash value build. Meanwhile, universal-life insurance offers the flexibility to vary the amount of your annual premium and the ability to withdraw cash from the policy.
Finally, with variable-life insurance, you can invest the cash value of a variable universal life insurance policy in a variety of investment options.
You might also ask our advisors about other options, such as:
- single-premium life-insurance
- Property Insurance
- Guarantee/Instrument Insurance
- Certificate of Deposit Insurance