Protect your loved ones with a life insurance!
How would your family or loved ones survive financially if something happens to you? Wouldn’t it make you feel at peace knowing that your family would be able to continue paying for the bills and living the life style they are used to?
Crew Insurance Services will assist you with your life insurance needs, no matter what your citizenship is. We offer an extensive portfolio of life insurance products, through a variety of US and International insurance carriers.
Term Life Insurance
Term life insurance provides death protection for a limited time period, or term, usually 10, 20 or 30 years. After the term is up, the insured can either cancel the plan, or pay the increasing annual premiums. Many policies offer the option of “converting” the term policy to another type of life insurance policy, such as Whole Life or Universal Life. The death benefit will only be paid to the beneficiary if the insured passes away during the term.
Term life insurance is the simplest and most inexpensive form of life insurance. Since term insurance can be purchased in large amounts for a relatively small initial premium, it is well suited to pay off a loan, or providing life insurance protection for the family when the children are young.
Term Life insurance offers purely risk protection and doesn’t have any investment value.
Universal Life Insurance
Universal Life is a type of permanent life insurance that has a building cash value. The premium payments above the cost of insurance are credited to the cash value, and growing each month with interest. The interest credited to the account is determined by the insurer; often it is linked to a financial index. Because only the amount of interest credited and not the cash value itself varies, UL policies offer a stable investment option.
A recent addition is the Equity Indexed Universal Life contracts that invest in Index Options of an Index such as the S&P 500, Russell 2000, and the Dow. These contracts only participate in the movement of Index and not the actual purchase of stocks, bonds or mutual funds. They may have a cap as to the maximum amount they will credit interest to, and a minimum guarantee which keeps the principle of the contract from losing money in a down year.
Universal life is similar to, and was developed from whole life insurance. The advantage of the universal life policy is the flexibility and the potential for greater cash value growth. Universal life is more flexible than whole life in two ways: the death benefit and usually the premium payment are flexible. The death benefit can be increased and decreased without surrendering the policy or getting a new one as would be required with whole life.