There are different types of life insurance to meet your different needs. Compare the different types of Life Insurance below.
At Sunvalley Insurance, our licensed and trained insurance agents can help you find the best life insurance policy meeting your specific needs, including special policies that provide discounted rates for non-smokers and people with good health histories. If these policies are properly managed, you may never need another policy. Let us help you! Contact Sunvalley Insurance today for more details and a No-Obligation quote.
|
Term
Life |
Whole
Life |
Universal
Life |
Variable
Universal Life |
|
|---|---|---|---|---|
| Death Benefit |
Yes
|
Yes
|
Yes
|
Yes
|
| Protection for a Specific Period |
Yes
|
|||
| Protection for Life |
Yes
|
Yes
|
Yes
|
|
| Ideal for covering a specific need |
Yes
|
|||
| Flexible premium and coverage amounts |
Yes
|
Yes
|
Yes
|
|
| Lower initial cost |
Yes
|
|||
| May be convertible to Whole Life |
Yes
|
|||
| Flexible death benefits |
Yes
|
Yes
|
||
| Accessibility to cash values |
Yes
|
Yes
|
Yes
|
|
| Tax Advantages |
Yes
|
Yes
|
Yes
|
Yes
|
| Guaranteed and non-guaranteed income tax deferred cash-accumulation |
Yes
|
Yes
|
Yes
|
|
| Flexible Payments |
Yes
|
Yes
|
||
| Market Participation |
Yes
|
Accessibility to cash values – This assumes that the contract qualifies as life insurance under section 7702 of the Internal Revenue Code (IRC) and is not a modified endowment contract (MEC) under section 7702A. Most distributions are taxed on a first-in/first-out basis as long as the contract meets non-MEC definitions under section 7702A. Loans and partial withdrawals from a MEC generally are taxable and, if taken prior to age 59½, may be subject to a 10% tax penalty. Flexible Payments – This assumes there is sufficient cash value to cover monthly policy charges. Keep in mind that variable universal life insurance has market volatility so it’s possible that you may need to pay an additional premium on your policy. Sunvalley Insurance (agency) does NOT offer Variable Universal Life Insurance policies at this time.
Next Steps...
For more information contact us today and ask for your free no-obligation quote.We will help you explore a variety of insurance options and discounts. Call us at +1 800 645 0297 or email us. Alternatively, have an insurance-licensed Sunvalley Insurance representative contact you.