Crest Insurance brokers will work with you to choose an appropriate individual life insurance plan. Our life insurance agents will assist you throughout the entire insurance process from gathering bids to servicing your account thereafter. With over 40 years of experience in the insurance industry, we are consultants on Permanent life insurance policies, as well as Term life policies, so you can be sure we will find you the right fit.
Permanent life insurance includes two primary types: Whole life insurance, which offers consistent premiums and a guaranteed cash value accumulation, and Universal life insurance, which offers more flexibility in the premium payments, death benefits and other policy elements. In a Universal policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy. Either option is suitable for long-term coverage, and your choice would vary based on your individual situation.
Term life insurance is chosen when a specific level of insurance is needed for a limited amount of time. An example for purchasing Term coverage would be to ensure your family is covered prior to paying off a large home mortgage. The term insurance is provided at a fixed rate and generally does not accumulate any cash value over time. Generally, at the end of a term policy, you are offered the option to convert all or a portion of the policy over to a permanent insurance policy.