Welcome to BenCat USA’s guide to understanding life insurance. If you’re considering a life insurance policy, this is a great place to begin. The information you find in this guide can help you determine your needs and how to apply for coverage. To learn more about life insurance, we encourage you can read through the following sections or consult with one of our knowledgeable and licensed agents. You can also choose from the menu below if you are interested in a specific topic.
Term Life Insurance
Term life insurance works best when there's a big need for coverage, but not much cash to pay for it. For example, a young family with limited cash resources might really need extra income to pay for living expenses and educational needs, should one of the family breadwinners pass away. Term life insurance is ideal for families like this, since it lets them buy six-figure insurance protection with minimal cash outlay.
Indexed Universal Life InsuranceIndexed universal life insurance (IUL) is a type of permanent life insurance. It covers you for your entire life and it builds cash value the longer you keep the policy in force. The benefit is that IUL gives you ultimate flexibility, allowing you to change your level of coverage, your payment amount, and how often you make that payment. You also have the chance to tie your cash value growth to an equity index, but you're guaranteed not to lose any money by doing so..
Guaranteed Issue Whole Life Insurance
If you're age 50-85, Guaranteed Issue Whole Life Insurance, sometimes referred to as Guaranteed Acceptance Whole Life Insurance, you can't be turned down for health reasons, and you can receive permanent life insurance without having to qualify for coverage based on your health. The benefits from this guaranteed acceptance whole life insurance can lend a helping hand for your loved ones during a difficult time.