Life Insurance

Life is all about options and choices, so with a variety of coverage options and products, you can find the right coverage for your family and your needs.

• Understand the difference between Term and Permanent coverage–the two major types of life insurance.
• Learn about Term coverage options–for the greatest amount of coverage at the lowest initial cost.
• Look at Permanent Life Insurance options–to meet your current and future financial needs.

Life Insurance comes in two forms. Term Insurance and Permanent Insurance. Here’s some information to help you decide which is best for you.

Term Coverage provides less expensive, temporary coverage for your personal or business needs–while it is needed. It provides the greatest amount of coverage for the lowest initial cost. You may find that a Term policy is a good choice if you have temporary needs or if your funds are limited.

Permanent Insurance, which includes Whole Life, Universal Life and more, may be right for you if you want coverage for a lifetime. It can be used to create supplemental retirement income (if funded properly), as well as estate equalization. Permanent insurance may initially cost more, but it accumulates cash value, which in turn can be used to self-fund its premium cost.

The type of coverage that’s right for you depends on your individual circumstances and financial goals. A combination of Term and Permanent Insurance could be the optimal solution, but it is not always feasible; so each circumstance must be considered carefully.

Value Term Life Insurance
This offers affordable Life Insurance coverage with level premiums for 10, 20 and 30 year terms. It only pays a death benefit if the named insured dies. Our Term coverage is annually renewable, at your attained age, after the Term expires. Similarly, at your attained age, any time it is in force, you can convert it to a Permanent policy at the same rate. Conversion requires filling at some forms with no medical underwriting. When you need enough coverage to protect your family against loss of income or the cost of a mortgage, this may be the best cost-effective solution for you.

Simple Term Life Insurance
This product offers level term insurance with face amounts low enough to fit most budgets and guaranteed premiums that are level for 10, 20 or 30 years. Face amounts are from $75,000-$150,000. Applications are processed by the next business day, and Parameds are not required. This policy can be converted to a Simple Whole Life policy–any time prior to the earlier of 20 years or the anniversary on or following the insured’s 65th birthday. This type of insurance is often used by businesses to insure key personnel.

Benefit Riders

• Accelerated Benefit Rider for Terminal Illness is a premium-free benefit that lets the policy owner request an advance payment of up to 50% of the policy face amount to a maximum of $150,000, if the insured is diagnosed with a terminal illness and is expected to live no longer than 12 months.
• Accidental Death Benefit provides a death benefit of up to the base policy amount or $150,000, whichever is less, if death is the result of a qualified accident before the insured is 70. This benefit is available only at issue for ages 18-60.
• Waiver of Premium waives all premiums due during a qualified disability of the insured, provided the disability lasts at least six consecutive months and begins after issue and prior to the insured’s age 60. The benefit can be added up to 90 days after issue with an eligibility questionnaire.
• Critical Illness Accelerated Benefit Rider is only available on our 20- and 30-year level premium Value Term policies. It pays a lump-sum benefit to the policy owner upon the insured’s first diagnosis of a covered condition. Subject to the terms of the rider, these include heart attack, life-threatening cancer, stroke, end-stage kidney failure, major organ transplant, permanent paralysis (in most states) and loss of limb (in most states). There are no restrictions on how the benefit can be used. Because the CI Benefit is an acceleration of the base policy’s death benefit, at the time of the claim, the base policy face amount will be decreased by the CI benefit amount paid, and premiums will be adjusted to reflect the lower face amount.

Term or Permanent Life?

Life insurance is a personal decision, and not one to make lightly. That’s why we can help you with the information, experience, and personalized service you need to guide you through the Life Insurance process.

Whatever your insurance needs, Trowbridge Insurance will find the right insurance for your home, your business, your family and you.

Have questions? Get a quote online or speak directly with us about Life Insurance at 650-876-9600.

Get a life insurance quote today.