Term 10-30 years. Good fit for new homeowners, or family with young children. Term Life also the most affordable way to protect you and your family during this time, when high mortgage and college tuition are first on your list.
One of the primary advantages of Term Life is its affordability. It provides substantial coverage at a lower cost compared to other types of life insurance, making it the most budget-friendly option to protect your family during crucial times. This is especially valuable when you have high expenses, such as a mortgage, college tuition, or other family-related financial commitments.
Whole Life Insurance provides lifelong protection with guaranteed death benefits, ensuring that your loved ones are financially secure no matter what the future holds. Unlike term policies, Whole Life Insurance also offers the potential to accumulate cash value over time, which can grow with tax-deferred interest. This cash value can be accessed through loans or withdrawals, providing a flexible financial resource that can be used for various needs during your lifetime.
Simplified Issue: for individual with minimal to no health issue, no medical exam, only have to answer health questions.
Survivorship: a joint policy that covers two people. When both policyholders pass away, death benefits will be used for estate planning, to support other family members with special needs, or charities. Joint policyholders are not required to be married.
Indexed Universal Life (IUL): our bestseller, with its cash growth potential and tax benefits. Premium earns cash value from which you can borrow or withdraw, tax deferred. Interest is based on market condition.
Whole Life: death benefits is guaranteed, cash value increases on a fixed interest rate. More stable than IUL.
Term Life: simple, easy-peasy. Policyholders can choose 10, or 20, or up to 30 years term. Leveled premium, death benefit is guaranteed. Best option to protect families with large mortgage, or college-bound children.
Final Expense: designed for individuals from 40 to 85 years old. Benefits can be as low as $10,000.
The answer depends on your family’s structure, obligation, and financial condition.
Talk to us, we’re ready to listen.
At Oak Tree Insurance, we began with a clear mission: to create a space where everyone can find the protection they truly need.
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