The security of knowing your family is taken care of. It’s reason enough to Plan & Protect the Unexpected.

Planning for the Future Starts Today

Life Insurance is something everyone needs. Regardless of age, it’s never too early (or late) to plan and prepare financially for the future. Knowing the different types of Life Insurance can make choosing the right one much easier.

GGB Insurance Services is here to help you make informed choices about what type of policy is right for you.

Whole Life is a Permanent Insurance product that provides death benefit protection and cash value accumulation. This coverage typically remains in force for your lifetime as long as premiums are paid. You have access to this cash value and can generally either take it as cash or use it to buy some continuing insurance protection. The amount of the cash value depends on the kind of policy you have, premiums you are paying into it, and how long you have owned it. You may also use your policy cash value as collateral for a loan. Policy surrenders and loans incur charges and/or interest. They can also affect policy values and the death benefit.

Whole life premiums, cash values, and death benefits are set at policy issue and are guaranteed as long as premiums are paid. Premiums are level and predictable.

Universal Life is also called Flexible Premium Adjustable Life Insurance. This coverage is similar to whole life insurance, but more flexible. It allows the policy owner to vary the amount and timing of premium payments (subject to satisfying policy premium minimums to maintain the policy), and increase or decrease the death benefit (subject to underwriting for an increase). Cash values accumulate based on premium payments and current interest rates that the carrier is offering.

Term Life Insurance provides affordable protection for a specific period of time at a scheduled premium level. Premiums may increase at the end of the term. You can renew your coverage often at a higher premium, without having to provide evidence of good health at the end of the term. You can also convert it to a permanent life insurance policy which builds cash value and may earn dividends.

Final Expense is an affordable Permanent Insurance to assist families with the costs associated with funeral and burial expenses. It is not designed to provide a lifetime income for the surviving family. Rather, this product provides families with the money they need for final expenses when they need it. 

Life Insurance is about knowing you’ve planned ahead for the future. Though it isn’t always an easy subject to talk about, there’s nothing like the peace of mind that comes with securing your loved ones’ financially for the unexpected.

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