Term & Permanent Life Insurance

Life Insurance Benefits

What is the *Accelerated Death Benefit?

The ADB is a provision in most life insurance policies that allows you to receive a portion of your
Tife insurance money carly

-lf you were to be diagnosed with a Critical, Chronic or Terminal illness

It will assist you with your every day living expenses, monthly mortgage, fat, & medical bills etc.
*ADB – is determined by your life insurance carrier.

Your Definition of True Wealth

Living Benefits

The Policyholder be eligible to receive a portion of the life insurance death benefit while they are still alive. This invaluable resource can help fund ongoing medical care, provide for assisted living needs, or address other pressing financial requirements.

  • Critical illness offers a safety net in the face of severe health conditions. If the policyholder is diagnosed with a covered critical illness, such as cancer, heart attack, stroke, or major organ failure.
  • Chronic illness provide support for individuals facing long-term health challenges. If the policyholder experiences a chronic illness that impairs their ability to carry out daily activities.
  • Terminal illness extend solace and comfort to individuals facing a life expectancy of fewer than 12 months.


* It’s important to note that the specific coverage and conditions of critical, chronic, and terminal illness riders may vary based on the insurance policy and provider. Each rider has its own set of criteria, waiting periods, and limitations.

What is a Term Life Insurance?

Life insurance is a valuable tool that ensures your spouse, children or anyone else who depends on you financially isn’t stuck with unmanageable expenses if you pass away. There are many choices when picking a life insurance policy, but one of the first decisions you’ll need to make is whether you want term or permanent life insurance.

Term Life Insurance

With term life insurance, you choose a specific period during which you enjoy level rates that won’t change. This is usually anywhere from 10 to 30 years. If you pass away while the policy is in force, your beneficiaries receive a payout known as the death benefit. If you outlive the level term period, it expires unless you choose to renew the policy. (Not all term life insurance policies are renewable.) Many term life insurance policies allow you to convert the term life to permanent life insurance during a specified window of time. Personal characteristics, such as your sex, medical history, height, weight, criminal record and history of tobacco and drug use, impact your term life insurance costs.
->Provides protection for a specific erne such as 10 to 30 years, or to a madimum sec such as 80
-> Offers A lower Monthly Premium
-> Provide “No Cash” Value
-> Payouts are tax Exempt

Term life insurance pros and cons

Term life insurance can be a smart, affordable way to gain some financial security for your family, but it’s not the right choice for everyone. Here are some of the major pros and cons of term life insurance.


  • Less expensive: One of the biggest benefits of term life insurance is that it is less expensive than permanent life insurance.
  • Coverage only when you need it most: Instead of paying for insurance for your entire lifetime, you can limit it to when you have the highest financial obligations. For instance, you may no longer need coverage once your mortgage is paid off and your kids are grown.
  • Frees up funds for other goals: Since term life insurance premiums are cheaper and paid over a set period, you have more cash flow to put toward other goals.


  • Level rates will end: You may still need life insurance once your level term period is up. Once it expires, you may be able to renew the policy, but term life insurance renewal costs are extremely high and go up each year you renew. You may find that a new policy is also very expensive, depending on your age and health.
  • No cash value: Unlike permanent life insurance, term life insurance doesn’t offer the opportunity to grow cash value and earn returns over time.

What is a Permanent Life Insurance?

Permanent life insurance often doesn’t have an expiration date. As long as the premiums are paid, most permanent life insurance policies can remain in-force as long as you’re alive.

When you pay your premiums, a portion goes toward the cash value account. This cash value can grow over time, and you can access the money while you’re alive. You can withdraw funds, borrow against the policy or surrender the policy for cash.

Permanent life insurance cost

Like term life insurance, permanent life insurance rates are based on various factors, including age, gender and health. Permanent life insurance is more expensive than term life.

When to consider a permanent life insurance?

Permanent life insurance is worth consideration if you’re seeking lifetime coverage and the added benefits of cash value.

Like term life insurance, permanent life insurance offers protection to loved ones, so they aren’t financially burdened if you die. But permanent life insurance also offers an investment component and greater flexibility in many cases. That also means it is considerably more expensive.


Designed to provide coverage’s for individual's entire life

Will build cash value
that accumulates over
the life of the policy

Allows you to grow your
cash value by putting a
portion towards an
equity index
account like the S&P 500.

Will have a minimum
interest rate that it will
always earn, regardless
of market performance

Offers tax-deferred
value growth, which is
accessible through policy
loans or partial
if needed for any reason.

Payouts are tax

Permanent life insurance pros and cons

Term life insurance can be a smart, affordable way to gain some financial security for your family, but it’s not the right choice for everyone. Here are some of the major pros and cons of term life insurance.


  • Lifetime coverage: As long as you continue paying your premiums, most types of permanent life insurance do not expire.
  • Cash value: Permanent life insurance policies have a cash value component that grows over time. You can use these funds while you’re alive.
  • Extra tax benefits: In addition to a tax-free death benefit for beneficiaries, permanent life insurance also offers tax-deferred growth on the cash value and tax-free life insurance policy loans.


  • Expensive: Permanent life insurance is considerably more expensive than term life insurance.
  • Policy can lapse: If you fail to pay the premiums due, the policy can lapse, which means you lose the death benefit and cash value.

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