Get cost-effective life insurance for a specific period, ideal for covering temporary financial obligations like mortgages.
Enjoy lifelong protection with a guaranteed death benefit and a cash value component that grows over time.
A permanent life insurance option offering flexible premiums and a savings component that can grow with market-linked returns.
Replace lost income to ensure your family can maintain their standard of living, covering daily expenses and future needs.
Ensure your outstanding debts, including mortgages, are covered, preventing financial burden on your loved ones.
Use life insurance as a powerful tool to leave a substantial legacy for your family or a favorite charity.
There are many types of life insurance to fit individual needs and circumstances. The following are some of the basic types of life insurance available:
Term Insurance: the simplest form of insurance. You purchase coverage for a specific price for a specified period of time. If you die during that time, your beneficiary receives the value of the policy. There is no investment component.
Whole Life: similar to term, but you purchase the policy to cover your “whole life” not just a set period of time. Premiums remain level throughout the life of the policy, and the insurance company invests at least a portion of your premiums. Some firms share investment proceeds with policyholders in the form of a dividend. Many companies will offer “a relatively low guaranteed rate of return,” but in reality pay at a rate in excess of the guarantee.
Universal Life: you decide how much you want to put in over and above a minimum premium. The insurance company chooses the investment vehicle, which is generally restricted to bonds and mortgages. The investment and the returns go into a cash-value account, which you can use against premiums or allow to build.
With some policies, sometimes called Type I or Type A, the cash account goes toward the face value of the policy on the death of the policyholder.
With a second variety, sometimes called Type II or Type B, the beneficiary receives the face value of the policy plus all or most of the cash account.
While Type II is meant to provide a partial hedge against inflation, it demands higher premiums as you get older than Type I.A variation of a universal policy, often called universal variable life, allows policyholders to choose investment vehicles.
A variation of a universal policy, often called universal variable life, allows policyholders to choose investment vehicles.
Understand premiums, riders, and cash-value growth across different plan types. DNI's expert advisors will help you select a policy based on your goals — whether it’s to cover debts, support dependents, or plan your legacy.
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