Arizona Term Life Insurance
There are three major types of life insurance in the United States. Whole Life insurance is what Grandpa and Grandma had, even if one reaches the age of 100. Whole Life is the best of the best, and is also called the Cadillac of life insurance. But with the Cadillac name comes the Cadillac price.
On the other side of the insurance spectrum is Term Life. This type of life insurance is for a set number of years-- usually between 10-30 years. Term Life is primarily used for younger individuals and families to help the surviving spouse support the family for a few years if the other spouse dies. Most families have Term Life coverage until the kids finish college and/or most of their major bills have been paid, such as a home mortgage. Term Life premiums are usually around 25 to 35 percent of the premiums of a Whole Life policy.
Then in the “middle” of the life insurance options is Universal Life, also called Variable Universal Life. This is the “hybrid” of Whole Life and Term Life. Many in the United States wanted a stronger life insurance than Term Life, but did not want to pay the high premium of Whole Life. Thus, the Universal Life option was born. Universal Life allows the policyholder to select an age to have the policy end, such as age 70.
Good Neighbor Insurance provides most life insurance options. Term Life and Universal Life are the most popular. Below is a graph of Universal Life plans that United of Omaha provides. To request a Term Life or Universal Life quote, please go to our web page at www.gnazhealth.com.
Universal life offers the following advantages:
- Lower cost insurance (compared to Whole Life)
- No-lapse protection
- A tax-advantaged savings element that provides a cash value with a guaranteed minimum interest rate
- Flexibility to adjust premium payment and the death benefit as needs change
- Favorable loan features
That We Carry
These insurance carriers have been carefully selected for their financial strength, claim paying ability and performance; unique coverage is also an important criteria. Below is a profile of some of the fine companies we work with to offer you coverage.
Click To Expand- AFBA/5Star Life
- American General
- Fidelity Life Association (has a simplified issued product)
- Genworth Life
- Lincoln Financial
- North American
- Protective Life / West Coast Life
- Presidential Life (has a guarantee issue product)
- Transamerica
- United of Omaha
Example of possible life insurance options:
| Guaranteed Universal Life | Guaranteed Universal Life Plus | AccumUL Plus | Guaranteed Universal Life Express | |
| Issue ages | 18-85 years | 18-85 years | 0-85 years | 18-65 years |
| Death Benefit Amounts | $100,000 to $1 million and above | $100,000 to $1 million and above | $100,000 to $1 million and above | $50,000 to $250,000 |
| Premiums | Flexible | Flexible | Flexible | Flexible |
| Needs Covered | Income Protection | Income Protection | Income Protection. *Cash value from risk or market fluctuation |
Income Protection |
| Product Strengths | Competitive level premiums for lifetime. *dial-down guarantees for age 90-100. |
Offers moderate cash accumulation in exchange for higher guaranteed premiums. *Competitive dup-in and good short-pay and single premiums. *Ideal for 1035 exchanges. *Able to add features to customize plan. *aOffers “dial-a-guarantee” option |
Helps accumulate funds for future use (retirement income, education fund) while also providing death benefit *Able to add features to customize plan |
Simplified underwriting *Quick issue process *Helps guarantee a death benefit *Able to add features to customize plan |
