Term Life Insurance
Term insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and you are protected for that “term”. The Term can be for 1, 5, 10, 20, or 30 years to either age 65 or 75. Majdoub Financial offers a variety of term products to fit your needs, time frame, and budget. Quotes are based on your age, gender, and general health. However, there are guaranteed issued non-medical insurance plans available.
We offer both Participating and Non-Participating Insurance. Participating Insurance is an excellent choice providing you with guaranteed premium and coverage for life.
Non-Participating Permanent Life Insurance Plans
Non-Participating Permanent Life Insurance Plans can be less expensive than participating life insurance. It provides a fixed amount of life insurance coverage, and the costs for your coverage remain the same every year. These plans in most cases will not provide cash values although some do.
Participating Permanent Life Insurance
With participating permanent life insurance, your policy may be credited with policyholder dividends. You can use these dividends in a number of ways. You can use them to buy additional coverage, receive a cash payment, reduce your annual premium or you can leave them on deposit to earn interest. The choice is yours.
Universal Life Insurance
Universal Life insurance is one solution that combines 2 important aspects of financial planning:
- Permanent insurance protection for lifelong peace of mind, plus
- Investment account options that can grow your savings, tax-deferred
Here is how it works. First, you choose a guaranteed death benefit amount that will be paid to your beneficiaries in the event of your death. Your payments are then deposited to a “policy fund”. Any additional deposits that exceed the required cost of insurance can be placed into grow-deferred investment accounts, or used to increase the value of your death benefit.
Find out how The Majdoub Group can be there for you today. Contact us now.