Like many people, you probably have insurance to protect tangible assets, like your car and home. Yet, you may not have insurance to protect your most important asset – you.
To fully protect yourself, you should consider having three types of insurance: life, long-term care, and disability income. Caspian Trading Investment Services has a complete array of insurance products depending on your age, needs, and goals. Our Financial Consultants will help evaluate your unique situation and provide appropriate recommendations.
Among the products you can choose from:
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
- Variable Universal Life Insurance
- Long-term Care Insurance
- Disability Income Insurance
Term Life Insurance
To protect your life for a specific period of time, like until children reach a certain age, or to pay for their college expenses or your mortgage if you should die, term life insurance may provide the most affordable type of insurance for you.
Whole Life Insurance
If you have long-term needs, like providing lifetime income for your surviving spouse, estate liquidity, "death" taxes, or funding retirement, you might want to examine whether a whole life insurance policy will help you meet your objectives.
Whole life is a two-part insurance product. One part is insurance and the other part accumulates assets. The cash value portion accumulates income tax-deferred and the death benefits of the insurance portion are generally income tax-free.
The cost of whole life premiums is based on your health, gender, and age when you purchase the policy. The premiums remain fixed as long as the policy is in effect.
Universal Life Insurance
Similar to whole life insurance, universal life insurance is part insurance and part asset accumulation. One of the differences is that while whole life premiums are fixed, a universal life policy has flexibility and allows you to adjust the premium payments, premium amounts, and the value of the death benefit.
Another difference is that the tax-deferred accumulation of cash values can be accessed for special reasons like paying college tuition, making a major purchase, or supplementing your retirement income.
While the flexibility of universal life insurance may be attractive, before you invest you'll want to understand any restrictions, surrender charges, or tax implications associated with early withdrawals or loans.
Variable Universal Life Insurance
Like universal life insurance, variable universal life insurance is also a cash value policy and has similar flexibility. However, with variable universal life you can invest the cash value part of your contract in a wide variety of investments that are linked to stock and bond portfolios.
Variable universal life is suitable for someone who has more than a basic understanding of investments and is willing to assume the risk associated with the potential investment results. Because you choose how to allocate the cash value, you assume the investment risk that is normally assumed by the insurance company with other types of insurance.
Variable universal life insurance may be an appropriate alternative if you are looking to address your long term insurance needs with an investment component. It is neither a short nor intermediate solution to life insurance needs. Your Citizens Investment Services Financial Consultant can help you determine the most appropriate insurance solution for you.
Variable Universal Life insurance is offered by prospectus only. Please contact your Financial Consultant for a prospectus that contains complete information including fees, investment objectives, surrender charges, risks, expenses and performance information. Please read the prospectus carefully and consider all of these factors and other important information about the variable universal life insurance policy before investing.
Long-term Care Insurance
Citizens Investment Services offers Long Term Care insurance, that can protect you and your loved one’s assets from the rising costs of long-term care. Long term care insurance allows you to remain independent and in the life style you've grown accustomed to. Citizens Investment Services also offers other asset protection products such as Life and Disability Income insurance products. Meet with a Financial Consultant for complete information.
Should you become sick or injured and unable to work, disability income insurance can provide you and your family income for a specific period of time. The amount and time frame of your disability income insurance program is as individual as you are.
Our Financial Consultants can help choose the policy and the coverage that fits your particular situation.