Life Insurance that Fits Your Needs
Protect your family’s future with life insurance coverage that fits your lifestyle and standard of living. Insuring your family’s future is easy and affordable when you work with one of our licensed representatives.
Having the right life insurance is pivotal in planning for the future of you and your loved ones. Life insurance can help you fulfill promises you’ve made your family when you are gone.
Your life is important. Your parents spent decades raising you. A special someone agreed to spend the rest of their life with you. Children hate to be away from you for even a few hours and your friends can’t wait to catch up with you on the weekends. You are important to all these loved ones, and they are important to you. You would never want anything bad to happen to them.
Don’t leave the future of you and your loved ones to chance. Financial Insurance Group can help you find the right Idaho, Montana, or Nevada life insurance coverage for you, and help ensure that your policy continually meets your needs.
Life Changes. So Should Your Policy
For each of our neighbors in Idaho, the right life insurance will be unique and dependent on personal and financial needs. As your life changes, your life insurance coverage may need to change in order to adapt to your current needs. Some life transformations that may require a policy “tune-up” include:
- You recently married or divorced
- You have a new child or grandchild
- You have opened or expanded a business
- Your health or your spouse’s health has deteriorated
- You are providing care or financial assistance to a parent
- Your child or grandchild requires assistance or long-term care
- You recently purchased a new home
- You are planning for a child or grandchild’s education
- You are concerned about retirement income
- You have refinanced your home mortgage in the past six months
- You or your spouse recently received an inheritance
- You have a sizable estate
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Whole Life Insurance
Whole life insurance, or whole of life assurance, is a life insurance policy that remains in force for the insured’s whole life and requires (in most cases) premiums to be paid every year into the policy. Whole life can be used in the retirement years as cash assets. It can provide equity for loans and have fixed payments that do not increase with time.
- Premiums stay the same as long as you have the policy
- Protection carries with you for your whole life
- Can build equity and have cash value
- Cash value can be used while you are alive
Universal Life Insurance
Universal life insurance policies have flexible premium amounts that allow you to adjust how much you pay each year by utilizing some of the policy’s cash value. The cash value in your policy can be used to pay your premium or be left to accrue interest over time based on your needs and goals. Depending on the insurance investment portfolio, universal life policies have the potential to earn more than a whole life policy some years, while in others they can earn less.
- Adjustable premium and coverage amounts
- Cash value that you may be able to borrow from while you’re still alive
- Permanent life insurance protection and access to cash values
Term Life Insurance
Term life insurance provides coverage for a fixed period of time and set equal payments. This type of coverage is designed to protect your family in case you die prematurely. Term life insurance does not have any value outside the event that you die within the term of the policy. Policies have terms of 1 to 30 years. The two most common coverage terms are 10 to 20 years and coincide with the years of highest financial vulnerability.
- Coverage for a “term” period of your life
- Lower premiums for higher coverage
- Rates can change after specific terms expire
- No equity – cannot be used as cash value
Variable Universal Life Insurance
Variable Universal Life (VUL) Insurance is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, allowing for greater flexibility in managing the policy. The ‘variable’ component in the name refers to this ability to invest in separate accounts whose values vary based on stock and/or bond market performance. The ‘universal’ component in the name refers to the flexibility the owner has in making premium payments.
- Cash value portion of policy can be invested
- Opportunity for higher returns based on market performance
- Investment options fluctuate with market changes
- Fees and charges not applicable to other types of life insurance policies