Question 1

WHAT ARE SOME BASIC LIFE INSURANCE TERMS I SHOULD KNOW?

Accepted Answer

Policy owner 
The policy owner is the person who owns the life insurance policy. In many cases, the policy owner is also the person who is insured by the policy. However, the policy owner may also be a relative of the insured, a trust, partnership, or a corporation.
Beneficiary
A beneficiary is the person(s) selected by the policy owner to receive the life insurance payments upon the death of the insured.
Premium
Premiums are the payments made to the insurance company to purchase and keep a policy active.
Death benefit
A death benefit is the amount paid to the beneficiary at the time of the death of the insured.
Face amount
The face amount of the policy is the amount of the death benefit as stated in the policy. This does not include additional amounts that the policy may provide.
Insured/insured life
Insurability refers to how likely an applicant is to be offered coverage based on current health, medical background, family history and other factors.

Question 2

HOW MANY YEARS SHOULD I CHOOSE FOR MY POLICY?

Accepted Answer

When determining this the main factor to consider is the period of time you’ll need coverage, especially if you have children. If your children are young, twenty or thirty years of term life coverage would help your children get through college or secure their future. If your children are older and able to support themselves, you might consider a shorter term period that’s more appropriate for your needs.

Question 3

WHAT ARE TAX ADVANTAGES OF LIFE INSURANCE?

Accepted Answer

Generally, the benefits received by beneficiaries after death are collected tax free. If you have a permanent life insurance policy, the funds accumulated over time would not be subject to income tax as long as the policy is still in effect. Finally, while withdrawals and loans reduce the value and death benefit, most are not taxable.

Question 4

WHY SHOULD I CHOOSE A REPUTABLE INSURANCE COMPANY?

Accepted Answer

When choosing a life insurance company be sure they have exceptional customer service, competitive pricing, great claims payment history, as well as being financially sound. To learn more about company ratings online visit Standard and Poor’s, Moody’s, Fitch and Weiss.

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Life insurance can help provide financial security for your loved ones when they may need it most.

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We go the extra mile to educate you on all the features and options available to you at an affordable price.

GET THE BEST POLICY AND SAVE WHAT YOU LOVE

Life insurance policies and processes can be very confusing. American Pensions and Retirement Services provide the best financial advisors to make sure our clients are fully educated on all of the products. APRS goes the extra mile to make features available at an affordable price.

TYPES OF LIFE INSURANCE

With a large variety of options to choose from, picking a life insurance policy can be challenging. American Pension and Retirement Services are committed to making this process as easy as possible.

TERM LIFE INSURANCE

Provides coverage and a death benefit for a specific period. You receive

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WHOLE LIFE

Type of permanent insurance or cash value insurance.

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UNIVERSAL LIFE

Offers lifelong protection with a flexible premium amount and death benefit.

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INDEXED UNIVERSAL LIFE

VARIABLE UNIVERSAL LIFE

LIVING BENEFITS

Offers cash value build-up based on stock market indices.

Combines the flexibility of options with investment choices.

Access to the cash value or accelerate the death benefit while you are still living.

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LIFE INSURANCE FAQS

Life insurance can be confusing. Find answers to the most frequently asked questions.

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