Why TruStage Whole Life Insurance? Your premiums won't go up and as the years go on, you can even access cash from the policy in the form of loans and withdrawals. And the cash settlement paid to your beneficiaries is generally tax free. Your loved ones can use the money to pay for whatever they need.
Licensed representatives are available to answer your questions, help you assess your specific needs, and help you determine the right coverage. Please call toll-free 1-888-888-0376 and a licensed agent will work with you to personalize a quote.
- Reasons for life insurance:
- Helps you prepare for the unexpected (such as death or a loss of a job)
- Designed to help safeguard growing financial commitments (marriage, children, mortgage, etc.)
- Helps to protect loved ones if you and/or your spouse should die prematurely
- Can build and protect funds for a child's college education
- Can provide a cash value for future use
- Can accumulate and secure money for retirement
- May be used to cover final and estate expenses
- A way to leave money to charity
- What is the difference between term and whole life insurance?
Term Life Insurance
- Can provide affordable, high-coverage protection for a specific period of time
- Proceeds are paid if you die during the term
- Premiums and benefits may be either level or decreasing
Whole Life Insurance
- Offers coverage for your entire life
- Premiums remain level, the same throughout your lifetime
- Policy loans can provide a future source of money
- Policy loans incur interest and any unpaid loans decrease the death benefit
- What type of insurance do I need?
There are obvious advantages to both term and whole life insurance. You may need both. And you may want to supplement your current coverage. So how do you know which coverage is right for your situation? TruStage Life Insurance offers many insurance solutions. We don't expect you to be the expert. Feel free to give us a call. We'll go through all the options so you can choose what's best for you.
- How much insurance do I need?
A general guideline is five to ten times your current salary. (This current recommendation represents the sum total of all life insurance policies and is only a general guideline. The amount of coverage you need will depend on your needs and circumstances.)
- Questions you may want to consider when determining your family's life insurance needs:
- Do you have a financial plan to pay for your children's education?
- Do you have a savings plan to help cover financial emergencies?
- If your family were to lose an income, would the other family members be able to maintain their lifestyle? Would your (and/or your spouse's) survivors be able to stay in your home and pay the mortgage? If necessary, what would your family do for childcare?
- If you or your spouse were to die suddenly, would your family be burdened by large debts?
- What do I need to know about beneficiaries?
- A beneficiary is a person or organization (e.g., charity) who receives insurance benefits at the time of the insured person's death.
- You can choose anyone to be your beneficiary and you can have more than one beneficiary.
- In general, benefits paid to your beneficiary are not subject to federal income tax.