Professional Insurance Services, Inc.


HomeMajor MedicalShort TermLifeMedicare Supp.Employer GroupsDisabilityDentalLong Term CareTravel InsuranceGuarantee IssueSupplementalAbout UsContact Us/LocationHealth Care ReformSubsidy Calculator

Toll Free: 1-800-922-1283
 

 
Life Insurance

Professional Insurance Services represents several different Life Insurance companies for different types of Life Insurance plans.  We offer the following types of life insurance:

•       Term life insurance

•       Whole life insurance

•       Universal (adjustable premium) life insurance

•       Final Expense life insurance

TERM LIFE INSURANCE

Term Life insurance offers the lowest initial premium, but that lower premium is only good for a certain period of time, then the rate goes up based on your age at the time of the adjustment.  Term Life insurance comes in the following term periods.  Rates go up at the end of these terms:

•         1 Year term life insurance

•         5 year term life insurance

•         10 year term life insurance

•         15 year term life insurance

•         20 year term life insurance

•         30 year term life insurance

Term life insurance is usually purchased for a temporary need (such as a mortgage or as a low premium life insurance plan when the person is young with a growing family when they need a lot of life insurance but cannot afford a permanent life insurance plans higher premium). 

Most term life insurance policies can be converted to a permanent life insurance plan, with no new underwriting, at an older age, when the person can better afford the higher permanent life insurance plans premium.  This will keep the insured from losing the term life insurance plan at the end of the temporary time period. 

Term life insurance can also be combined with a permanent life insurance plan to create a more moderate premium, but also giving the insured some permanent life insurance that the premium will not increase on later.

PERMANT LIFE INSURANCE

Permanent Life Insurance (Whole Life insurance or Universal "Adjustable Premium" Life Insurance and Final Expense Life Insurance) is designed to have a level premium throughout the life of the policy.  Permanent life insurance rates are higher to begin with, but they do not increase as the person ages. 

Permanent life insurance can also build up a cash value based on the life insurance policies inside build up of interest or dividends.  This build up may be enough to allow the insured to stop making payments in the future and allow the policy to pay itself or it may allow the insured to build up money for their  children's education or retirement on a tax deferred basis.  Interest and dividends in a permanent life insurance policy is not considered taxable income.

Professional Insurance Services represents Ohio National, Mutual of Omaha and AETNA for term life insurance, whole life insurance, universal life insurance and for final expense life insurance.  Please call Professional Insurance Services for a quote.