Life Insurance

LIFE INSURANCE IS IMPORTANT

                   Life insurance is a contract binding a life insurance company to compensate a
                   beneficiary for the death of a person insured. Life insurance is a protection of the
                   economic value of a human life with regards to those who may be financially
                   dependent upon it.

                   Whether you're a first time buyer or have brought life insurance before, this
                   section contains a wealth of information to help you choose the best policy
                   for you.

                   People choose life insurance as a source of income to the family for about
                   15 to 20 years until their children are grown, to cover a 30 year
                   mortgage or to replace earnings if death occurs.

There are two types of life insurance:

1. Term Life

2. Whole Life

TERM LIFE

                    In the event of death, term life provides financial protection and economic
                    stability for your family or your business for a specified period of time.
                    Term life is recommended as the most economical insurance policy. Many term
                    life insurance plans can be converted to permanent life insurance plans without
                    evidence of insurability.

                    If you are looking for a temporary insurance plan or if your life insurance needs
                    are long-term with a limited budget, then term life insurance is the best choice
                    for you.

LEVEL TERM LIFE

                    Level Term Life means both the death benefit and premium are guaranteed to
                    remain level for the entire term. With this policy you could cancel at anytime
                    without penalty.

WHOLE LIFE

                    Whole life is known as permanent insurance because it stays in effect throughout
                    your life time. Premiums are fixed and higher than term life insurance. The
                    premiums for whole life insurance policies are designed to remain level over time.
                    Cash values can be used for a variety of options:

1. The policy can be surrendered at anytime for cash surrender value.

2. The policy owner can take out a loan and use the cash value as collateral.

3. The policy can be changed to a reduced death benefit amount that is paid
up.

4. The cash values may be used to pay premiums for a certain period of time.

5. The cash surrender value can be used to supplement retirement income.

UNIVERSAL LIFE

                      Universal Life is another type of permanent insurance. As long as premiums are
                      paid, a death benefit is paid to the beneficiary. These policies offer the policy
                      owner some flexibility to change the premium payments and death benefit. The
                      cash values tend to be interest-sensitive and can be used for several options:

1. The policy can be surrendered at anytime for the cash surrender value.

2. The policy owner can take out a loan and use the cash values as collateral.

3. The policy can be changed to a reduced amount paid-up whole life policy