Insurance

Feel comfortable knowing that you can pay off your expenses and provide income for your family and loved ones after your death.

There are several types of both term and permanent life insurance policies, including:

Guaranteed-level term

The premium is guaranteed to be the same for a given period of years.

• Return-of-premium term — where you receive your premiums back at the end of the policy term.
• Universal life – where premiums can vary from month to month (within the policy’s requirement, allowing you to have more flexibility).
• Whole life – with set premiums and no end date.

Key Employee

If your business relies on you or key employees to generate a majority of earnings, you should consider a key-employee policy. A key employee policy provides compensation for the loss of earnings brought about by the death of a key officer or other employee.

Buy-Sell Insurance

Buy-Sell Insurance is a binding agreement between owners of a business that dictates what will happen if an owner dies, is forced to leave, or chooses to leave the business.

Securities offered through SWBC Investment Services, LLC, a registered broker/dealer. Member SIPC & FINRA. Advisory services offered through SWBC Investment Company, a Registered Investment Advisor. SWBC Investment Services, LLC & SWBC Investment Company are not affiliated with this institution. Funds should not be considered a deposit of or guaranteed by this institution, may lose value and are not NCUSIF insured.

Table of Contents:

• Expert Articles/Papers
• Infographics
• FAQs

Expert Articles/Papers:

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Infographics:

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Frequently Asked Questions:

Q. How much personal life insurance do I need?

A. When calculating a life insurance policy, it is sometimes difficult to figure out how much coverage will be enough. Take some time to think about your family situation and your financial goals. Also consider:

• Your mortgage or rent payments
• The number of children living at home
• Your level of debt
• Whether you have elderly parents to care for
• Whether the surviving spouse will work
• The amount you currently have in savings

Q. What is term insurance?

A. Term insurance covers a period from 1 – 30 years, generally in increments of 5 -10 years, and can be renewed (often at a higher premium) at the end of the term. This type of policy is a death benefits policy only, without cash options like a permanent policy, so when/if the policyholder dies, the amount of the policy is paid to the beneficiary. If the policyholder does not die during the term of the policy, no one receives money from the policy.

Q. What is permanent insurance?

A. With a permanent life insurance policy, part of your premium will accumulate for cash value (much like a savings account). This means that the cash value of the policy will continue to grow year after year, helping you avoid paying higher premiums as you get older. You can also access this cash should you elect to discontinue your coverage. (Note: Available cash values may be subject to surrender charges). The cash value of your policy can also be accessed for emergencies or to supplement retirement income.