The level term life policy provides protection for specified periods, usually 10,20,or 30 years. Premiums are level for the selected term, which makes them affordable.
This cover does not accumulate cash value, therefore, if the insured survives the maturity of the policy, the beneficiaries will not receive any insurance payment.
Also, if the needs of the insured change during the term of the policy, most of our providers will let you switch to a permanent plan.
This product is commonly used to protect your family from mortgage debt payments in case of sudden death of one of the owners. It is a stable and convenient life insurance to maintain.
This life insurance policy is an easy alternative to apply for and maintain since it does not require a medical exam.
Among its benefits, you will see that it offers coverage for periods of 10, 20, or 30 years (similar to the term of your mortgage) and amounts from $25,000 to $250,000.
This permanent life insurance policy has fixed premium payments and the benefit of using the policy for investment and financial planning. It also provides a savings option, because the premium paid allows for the accumulation of cash value.
Its yield is guaranteed on the value of the accrued interest. Therefore, you may be eligible to earn dividends or have the alternative of borrowing against the accumulated values. For you to issue this insurance policy, it is important to keep the monthly premium payment and required medical check-ups up to date.
This life insurance has optional add-ons, such as waiver of premium, accidental death and accelerated death benefits in case of a terminal illness diagnosis, among others.
Get a life insurance policy that will give you the flexibility you want by allowing you to choose the amount of coverage, the premium to be paid (you can adjust it according to your budget) and the cash value to be accumulated. This product is a permanent life insurance policy that accumulates value, although not guaranteed, that you can use to create a savings fund for your children's education, to supplement your retirement income, among other alternatives. Also, you will be able to borrow against the accumulated values.
The policy's coverage period is flexible and can last a lifetime. Therefore, it can remain in effect until the maturity date, which is generally reached at age 95 or 100. When the maturity date is reached, the coverage ends and you receive the accumulated cash value.
Due to the flexible nature of this type of policy, it is recommended that it be reviewed annually. This product has optional add-ons, such as: waiver of premium payments for disability, benefits for accidental death and accelerated death in case of a terminal illness diagnosis, among others.
Annuities provide capital growth with tax advantages, and income for your retirement or your children’s education.
The information provided is only a general description of coverage. For further information you should consult your policy to know the terms, limitations, and general conditions. The insurance products offered by FirstBank Insurance Agency, LLC are not a bank deposit. They are not insured by the FDIC, nor by any agency of the state or federal government. They are also not guaranteed by FirstBank or any of its subsidiaries and may decrease in value. Obtaining insurance is optional and it can be canceled at any time. The purchase of insurance from the Bank or one of its affiliates or the agreement not to obtain an insurance product from an unaffiliated entity, will not be a condition for credit approval. We will not reject the insurance(s) of your choice if the same complies with our requirements and standards related to coverage, financial strength and services provided by an insurer.