Life insurance may be one of the most important purchases you’ll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education or even protect your spouse’s retirement plans.
There are several types of life insurance. How much you need and what type is right for you depends on your needs and circumstances.
- Universal life insurance pays a death benefit to the beneficiary you name and provides premium and face amount flexibility. It provides market rates of interest on your cash value account and tax deferred accumulation.
- Whole life insurance provides permanent protection for your beneficiaries. It offers cash value and tax-deferred accumulation.
- Term insurance is designed to meet needs for a set "term." It pays the face amount of the policy if you die during the term. Term insurance has no cash surrender or loan value. Premium costs generally increase with your age.
Your insurance or financial representative can help you determine how much and what type of life insurance may be right for you.
Excel LifeValue UL (Form 5006), Excel LifeValue Survivor UL (Form 5007), Excel Essential UL (Form 5005), Excel Index UL (Form 5009), FOCUS 10 Life (Form 5011), Keystone Term (Form 5011), Keystone Whole Life (Form FA 8612 NY) and Keystone Foundation Whole Life (Form 5001 NY) are issued by Ameritas Life insurance Corp. of New York.