Shaw Insurance & Associates, Inc.
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Life insurance is a contract between an insurer and a policyholder, in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured. The policyholder typically pays a premium, either regularly or as a lump sum. Life insurance can provide financial security for loved ones in the event of the policyholder's death.
Term Insurance
Term life insurance is a type of life insurance policy that provides for a specific period of time, typically ranging from one to thirty years. If the policyholder passes away during the term of the policy, the death benefit is paid to the designated beneficiaries. Unlike permanent life insurance policies, term life insurance does not cash value over time.
Level term life is the most common and recommended term insurance. Term insurance provides coverage (face amount) for a limited period of time for a fixed premium. Term insurance is the least expensive way to purchase a death benefit to cover an individual. Term life insurance is used to provide coverage for the financial responsibilities of the insured.
Term Life Insurance
Whole Life Insurance
Whole life insurance is a type of permanent life insurance that provides for the entire life of the insured person. It offers a guaranteed death benefit, as well as a cash value component that over time. Premiums for whole life insurance are typically higher than for term life insurance, but policy provides lifelong protection and can be a valuable asset for estate planning purposes.
Universal Life
Universal life insurance is a type of permanent life that offers flexibility in premium payments and death benefits. It policyholders to adjust their coverage and premiums over time to meet their changing needs. The also includes a cash value component that earns interest, which can be used to pay premiums or withdrawn as needed.
Variable Life
Variable life insurance is a type of life insurance policy that allows policyholder to invest a portion of their premium payments into various investment options such as stocks, bonds, and mutual funds. cash value of the policy can fluctuate based on the performance of the investments, and the death benefit can also vary depending on the policy's cash value at the time of the policyholder's death.
Burial Life
Burial policy is a type of insurance policy that covers the cost of a funeral and burial. It is designed provide financial assistance to the family of the deceased during a difficult time. The policy can cover expenses such as the casket funeral service, burial plot, and other related costs.