What is Life Insurance?
Life insurance policies offer protection either to you, the policyholder, or to your beneficiaries in the event of your death or after a specified period of time. Life insurance offers peace of mind and has a several benefits, including, providing financial security, protecting loved ones, and may even serve as an investment, and may have tax benefits.
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Types of Life Insurance
Persistent Capital offers Life Insurance to meet your needs. The two basic types of insurance include Term Life and Permanent Life Insurance.
Term life insurance provides coverage for a specific term—the most common terms being 10, 20 , 30 year policies—with lower premiums.
Permanent life insurance provides coverage for the policyholder's lifetime with higher premiums and a cash value component. It may be further broken down into different types: Universal, and Whole Life.
Call us to discuss special insurance needs for business needs: Key Person, Group Life Plan options, and Funding Arrangements for Small Businesses, which includes Premium Financing.
Key person insurance is a life insurance policy that a business takes out on its most valuable employee or employees. A policy can also include a rider for disability coverage to help if a key employee is disabled. Key person insurance helps safeguard a small business if an imperative employee dies or becomes disabled.
Group Life Insurance is an increasingly common benefit offered by employers for 10 or more employees. It may also be offered to members of a professional organization, group or club. In any case, group life insurance provides affordable coverage that is guaranteed and tax-free up to a certain amount.
Whole Life Insurance
Whole life insurance provides lifelong coverage, with a savings component and a guaranteed payout upon death.
Term Life Insurance
Term life insurance provides coverage for a specific period of time—10 to 30 years—with no savings component.
Universal Life Insurance
Universal life insurance provides lifelong coverage, while allowing flexibility in premiums and death benefit amounts.