Life Insurance
Aluity offers Life Insurance through many different companies. Ethos Life has been very easy to work with and has a simple online application and very fast or instant approvals. Please click the link below to see your options and call us if you would like to look at other companies:
About Life Insurance
While there are many types of life insurance, and different types to satisfy different needs, In the most basic form, life insurance comes in two types:
TERM and Whole Life
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Term Life
TERM - Term policies are meant for just that, a TERM of time. Term means you choose how many years you need an insurance policy to last. Let's say you have 20 years left on the mortgage, or you want to make sure there's enough money for the kids to get through college if something happens, you want a lump sum to pay out if you pass before retirement, or any situation where a "TERM" of time would be appropriate. In most cases, you only need the insurance for a time, then it will no longer be necessary. Term policies are cheaper for a larger amount of money, but when the TERM runs out, the policy will expire or increase significantly.
Some examples of Term policies might be:
20 Year $100,000 Term, this means, the price will remain the same for 20 years, if you pass during that time, your beneficiary will receive $100,000.
10 Year $250,000 Term, this means the price will remain the same for 10 years, if you pass during that time your beneficiary will receive $250,000.
Whole Life
Whole Life - Policies for smaller amounts, often called Final Expense, Burial Policies, in amounts of $3,000 - 30,000, are usually Whole Life policies. Whole Life policies maintain a steady monthly premium throughout your whole life. These policies are typically more expensive than Term Life Insurance, but a Whole Life policy lasts your Whole Life - as long as you pay the premium, the policy will cover you up until it's needed by those arranging your final expenses. Some common Whole Life Policies are:
$10,000 Whole Life - You pay the same premium from the start date until you pass or cancel the policy. As long as the premium is paid, the company will pay $10,000 to your beneficiary if you pass.
$5,000 Whole Life - You pay the same premium from the start date until you pass or cancel the policy. As long as the premium is paid, the company will pay $10,000 to your beneficiary if you pass.