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Find out how much you need to protect your family.
When it comes to life insurance, there are many questions. Here are answers to some we hear most often.
*Source: LIMRA, Facts about Life 2013
A universal life policy offers a cash value account where the cash value, if any, grows at an interest rate determined by the insurer. A variable universal life policy offers a cash value account that’s invested in the market through any of over 50 investment options from some of the world’s most respected fund companies.
It depends on your situation. Your agent can help you determine how much money your beneficiaries might need. Things to consider are:
It can make sense if you’re a partner in a business. A buy-sell agreement can be helpful if you or your partner should die. The policy allows the remaining partner(s) to buy out the deceased partner’s interests at a pre-negotiated price. Another way life insurance can help is key person insurance. Key person insurance provides the owner(s) money to help replace the loss of a key person.