SEG Insurance Service

Term life insurance guarantees payment of a stated death benefit if the policyholder dies within the stated term period. Term periods may last anywhere from a year to 30 years. Importantly, term life insurance policies do not possess monetary or savings value unless the holder dies within the term. However, term life insurance may be less costly than other life insurance options, such as whole life insurance.

A Joint First-To-Die Policy is a life insurance policy that provides coverage for two people and makes payment to the survivor as soon as the first person dies. This policy is often used to cover estate tax expenses.

Life insurance may be one of the most important purchases you'll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children's education, protect your spouse's retirement plans, and much more. If you're considering securing you and your family’s financial future, we would be happy to review your current situation and offer a few ideas on how you can protect it!

The ability to borrow money is one of the biggest differences between term life and permanent life insurance. Only permanent insurance allows the policy holder to take out a loan against the cash value built up in the policy. Policy holders are required to repay this loan including interest, and any outstanding balances owed at the time of death will be deducted from the death benefit.

Buying a home is a major financial commitment. Depending on the loan you choose, you might commit yourself to 30 years of payments. But what will happen to your home if you suddenly die or become too disabled to work? Mortgage protection insurance can help your family cover your mortgage under certain circumstances – you can avoid foreclosure if you can no longer work to pay your mortgage. Let’s take a closer look at what MPI is, what it covers and who might need a policy.

Permanent policies generally have a higher initial premium than term policies, because a portion of the premiums goes toward building cash value. But both term and permanent policy costs are generally based on 3 factors: Mortality, Expenses, & Riders.