It can also meet the cost of children's education and
mean added income for retirement years. Life
insurance can indeed be of benefit to us all.

All of us must figure out for ourselves what
percentage of our income we're willing to spend for
insurance. Bear in mind, that in the event of the
buyer's death, the proceeds from the insurance will
have to assist the family over a long period of time.

TERM LIFE INSURANCE:

Term life is popular with buyers because it is simple
to understand, contains no confusing "cash value" or
investment features, provides an attractive
coverage-to-premium value, and is now offered for very
long terms such as 30, 25, 20 and 15 years on a
guaranteed not - to - increase during the guarantee
term. Can provide a lot of protection for a lesser
cost than permanent, it builds no cash values and has
no permanent values. In this sense it has been
described as "RENTED" but not "OWNED"

PERMANENT INSURANCE:

In contrast to term insurance, provides for a
tax-deferred build-up of cash values over the life of
the contract. While the outlay for permanent
insurance is usually greater than term insurance in
the early years, most plans provide for payment of a
level premium. Typically, both the cash values and
the death benefits are guaranteed. Some plans pay
out dividends and may be allowed to be taken in cash
or used by the policyholder for payment of premiums.
Other plans pay a current interest rate. However,
these rates are subject to change and not guaranteed
over the life of the contract. The guaranteed
interest rate is usually very modest and will likely
result in a lapse of the policy if additional premiums
are not paid.

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