Life Insurance
Life Insurance Opportunities
Here at Superior we offer different options for your Life Insurance. Below explains the differences and whenever you're ready to discuss more, give us a call or fill out a form and one of our licensed advisors will contact you !
Term life insurance provides coverage for a set period. The premiums and death benefits are at a fixed and set amount. If the insured passes away during that time, the policy may pay a lump sum to the named beneficiaries. These policies often cost less than whole and universal life insurance. Once the term ends, the coverage stops unless the policy is renewed or converted to a different plan.
Whole life insurance provides coverage for the insured’s entire life as long as premiums are paid. The premiums and death benefit are fixed so they don't change unless you make a change. These policies can build cash value over time, which can be borrowed from or withdrawn. While it typically costs more than term life, whole life insurance doesn’t expire and can grow into a long-term financial asset.
Universal Life insurance works similar to whole life insurance, however the premiums and death benefits are flexible and not fixed. Your cash value growth is more based on the current market value rather than based on your premiums like with whole life. These plans are more risky and requires more management than a whole life plan, but the potenial benefits are much higher compared to a whole life policy.