CCI has life insurance plans to fit every need and circumstance. The following are brief summaries of some of the basic types of life insurance available.

Term Life

This is the simplest form of insurance. Coverage is purchased at a specific price for a specified period. In the event of death within that time frame, the beneficiary receives the value of the policy. There is no investment component.

Whole Life

This policy is similar to term life, but this policy will cover a "whole life," not just a set time period. Premiums remain level throughout the life of the policy, and the company invests at least a portion of the premiums.

Universal Life

With this plan, you decide how much you want to put in over and above the minimum premium. The insurance company chooses the investment vehicles, which are generally restricted to bonds and mortgages. The investment and the returns go into a cash-value account, which you can use against premiums or allow to build.

A variation of a universal policy, often called "Universal Variable Life" allows policyholders to choose investment vehicles.

Variable Life

With a variable policy, there is usually a wider selection of investment products, including stock funds. As with a universal policy, returns on investments can offset the cost of premiums or build in the account. The type of policy will determine whether beneficiaries receive the face value of the policy or the face value plus all or part of the cash account.

For more information about life insurance and what will best serve your needs, please contact us.