PageContent1FirstBank Insurance Agency, LLC. provides you the right coverage to keep you protected. Term Life This cover does not accumulate cash values, thus, if the insured outlives its policy, the beneficiaries will not receive any insurance payment. Moreover, 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. Term Life - Simplified Issue This product is commonly used to protect your family from mortgage debt payments in case of one of the homeowners’ sudden death. The policy is easy to apply for and maintain, as it does not require any medical evaluation. It offers coverage for periods of 10, 20, or 30 years (similar to your mortgage term) and amounts from $25,000 up to $250,000. Whole Life A permanent life policy with fixed premium payments for as long as you live. It also provides an alternative saving option, because the premium paid allows for the accumulation of cash value. Its performance is guaranteed over accumulated interest value. Therefore, you may be eligible to earn dividends, or have the alternative to ask for a loan against the accumulated cash value. In order to be issued, it is important to maintain up to date monthly premium payments and required medical check-ups. This product comes with add-ons, such as: Waiver of Premium, Accidental Death, and Accelerated Death benefits in case terminal illnesses are diagnosed, among others. Universal Life Provides you the flexibility you want by letting you choose the amount of coverage, premium to be paid (you can adjust it according to your budget), and cash value to be accumulated. The product is a permanent life insurance policy that has non-guaranteed cash value. Nevertheless, said cash values may be used to create a college savings fund for your kids, have additional income for retirement and take loans against its accumulated cash value. The coverage period is flexible, being able to last for your entire life. Hence, the policy could be in force until its maturity, usually between 95 to 100 years of age. When the due date is reached, the coverage ends and you receive the accumulated cash value.Given the flexible nature of this type of policy, it should be evaluated annually. This product comes with adds on, such as: Waiver of Premium, Accidental Death, and Accelerated Death benefits in case terminal illnesses are diagnosed, among others. Variable Life Term Insurance Can you handle investments risks? Then this is the product for you. It offers the insurer a lifetime fixed premium and cash value accumulation. Death benefits and accumulated cash values are not guaranteed. Both alternatives may fluctuate according to investment results offered by the insurance company. Apply now! Call Us 787-292-4380