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Colorado Life Insurance


Life insurance is security you are looking for that comes in a variety of packages.   Sometimes these decisions can be difficult and you require a professional to analyze your needs and the needs of your family.   To find the right policy for you, you need to understand the coverage plans available.
Life-based contracts tend to fall into two major categories:
  • Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment.   A common form of this design is term insurance.
  • Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums.  Common forms are whole life, universal life and variable life policies.
Term assurance provides for life insurance coverage for a specified term of years for a specified premium. The policy does not accumulate cash value. Term is generally considered "pure" insurance, where the premium buys protection in the event of death and nothing else.
In considering term insurance, there are three basic factors:  Face amount; premium to be paid; and, term or length of coverage. 
Various insurance companies sell term insurance with many different combinations of these three parameters. The face amount can remain constant or decline. The term can be for one or more years. The premium can remain level or increase. A common type of term is called annual renewable term. It is a one year policy but the insurance company guarantees it will issue a policy of equal or lesser amount without regard to the insurability of the insured and with a premium set for the insured's age at that time.
Investment polices are those are with profit and vary greatly. Be aware that any agent selling some of these products must have their securities license. Source: Wikipedia

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