Life Insurance

What Is It?

Life insurance is most commonly purchased to provide death benefits to a named beneficiary upon the passing of the insured individual. All life insurance policies provide death benefits to the beneficiaries, but some types of life policies also can accumulate cash value. These policies, which include whole life and universal life, accrue cash value with each payment. The insured may borrow against the cash value with a loan, or the entire policy may be surrendered. The loans typically have affordable rates and terms, and they’re typically is not a limitation regarding how the funds can be used. Commonly, the funds may be used for a down payment on a house, to make home improvements, and for other similar purposes. Because of the ability to accumulate value, these types of life policies may be viewed as an investment or a financial asset.


Home + Auto

Life + Income



How Does It Work?

Everyone needs life insurance. It helps pay for burial expenses and other expenses. The insurance company will want to know details such as weight, health history, lifestyle habits, annual income, and family health history. If you’re unwell, then your policy will cost more. It will also cost more based on your age. A young healthy person would pay a lower premium than an elderly or ill person.

As the policyholder, you agree to pay the premium. The insurer, on the other hand, agrees to pay beneficiaries the death benefits when you die.

Types Of Coverage

There are term insurance plans, unit-linked insurance plans, participating insurance plans, and non-participating insurance plans. Term insurance offers coverage for a specific time. Participating plans have non-guaranteed and guaranteed benefits for the beneficiary. With the non-participating insurance plan, the policyholder can use the policy to grow their savings.

Life insurance is will make things easier for loved ones once you’re gone. They’ll be able to pay your burial expenses, and have something left for living expenses.

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1587 McDaniel Drive
West Chester, PA 19380

1636 South Front Street
Philadelphia, PA 19148

(800) 337-8556