Life Insurance

Types of Life Insurance Policies 

Get a broad overview of our life insurance solutions. Key Wealth professionals will provide expert guidance on our policies, identifying tailored, strategic options that fit into your overall financial plan.

Term Insurance
Get protection for a set period, often with an option to exchange the term policy for a permanent policy.

Coverage Term: 10 – 30 years, depending on age

Features:

• Option to convert to a permanent life insurance policy.
• Can be used for business continuation plans to protect against the unexpected loss of a business partner or employee.
• Ability to use the policy as a loan or mortgage collateral.

Universal Life Insurance 
Has flexible options for guaranteed benefits and cash value with a specific coverage term.

Coverage Term: Select term or lifetime

Features:

• Fixed universal life insurance: It guarantees the death benefit, premium, interest rate, and any cash value accumulation in the policy.
• Index universal life insurance: It guarantees the death benefit, premium, and cash value, but the cash value growth potential is tied to an indexed performance, not an interest rate.
• Variable universal life insurance: It offers the greatest potential for cash value increases, as the policy is based on market performance of the investment options you select, but there are fewer guarantees.

Whole Life Insurance 
A permanent, lifetime insurance policy designed for strong cash value accumulation.

Coverage Term: Lifetime

Features:

• The higher your desired cash value, the higher the benefit and premium.
• Often selected for children or older-aged applicants.

Single Premium Life Insurance 
Allows you to preserve your legacy by transferring wealth to other generations.

Coverage Term: Select length or lifetime

Features:

• An instant increase in the value of legacy dollars.
• A single premium payment.
• Guaranteed death benefit that will not change or lapse and is guaranteed to be greater than the premium.
• Most policies offer return of premium protection in case the insured’s needs change, as well as the ability to accelerate the death benefit for chronic illness expenses or a terminal illness diagnosis.

Combined Life & Long-Term Care Policy 
Offers guaranteed benefits and protection against qualified expenses, plus a pool of funds exclusively for tax-advantaged reimbursements of long-term care expenses.

Coverage Term: Varies by policy

Features:

• Pay the premium one-time, or schedule multiple payments.
• Some combination policies offer a return of all or most of the premium, providing protection against changing needs.
• Life insurance provides a death benefit.
• Long-term care fund provides protection against the cost of qualified long-term care  expenses.