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Life Insurance can help protect your family and is an excellent way to accumulate
money for college, retirement or unplanned expenses. A person should have life insurance that approaches six to eight times their annual gross income. Under current laws, there is generally no federal income tax on death benefits paid to a named beneficiary. |
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Life insurance coverage for a specified length of time.
A term life insurance policy is usually purchased with a particular need in mind. Beneficiaries will collect, usually tax free, the face value of the policy upon the insured (your) death. |
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Term life is attractive for those with a limited income, high
short term insurance needs, or for personal family protection. |
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If the insured survives the time period, the policy expires.
There is no cash value at the expiration of a term life insurance policy. Some policies have a convertible feature permitting a policyowner to exchange a term policy for a cash value policy without evidence of insurability. |
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Level Term Life Insurance Policy Features
A constant death benefit and a level premium for a
specified number of years. We offer 5, 10, 15, 20, and 30 year terms. |
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Decreasing Term Life Insurance Policy Features
Has a decreasing death benefit and a level premium.
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The most popular choice for those seeking to cover permanent needs, such as
contributing to a survivor's nest egg, paying off final expenses, etc. Whole life insurance provides permanent, lifelong insurance coverage. The benefit amount remains the same and is payable to the beneficiary(s) at the time of the insured's (your) death. It also offers an opportunity to build cash value, so you can take a loan on your policy to fund major purchases or to provide for unexpected costs. |
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Whole life insurance has a fixed premium and a level death benefit to age 100.
The premiums don't increase with age, which averages the cost of the policy over your life. The cash value increases with time until it equals the death benefit at age 100. This type of policy never has to be renewed or converted. The cash value is an amount of money that you are guaranteed to receive in the event of policy cancellation. |
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Variations of Whole Life Insurance include:
Modified Premium - lower fixed premium for the first 3 or 5 years, and then
premiums increase. These policies work well for individuals that expect to improve their financial condition in the near future.
Graded Premium - premium increases each year for the first 5 years, and
then is fixed. |
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Advantages of Whole Life Insurance
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1. guaranteed protection for life
2. level death benefit that is generally tax-free
3. premiums do not increase in correlation with your age
4. cash may accumulate tax-deferred
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Disadvantages of Whole Life Insurance
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1. premium costs may make it difficult to buy enough
2. need to carry a whole life policy for a considerable length of time to be very beneficial
3. cash value may be less than your face value
4. cannot vary your monthly premium payment and the premium-paying period may be
lengthy
5. amount of coverage cannot be increased at a later date
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Click on the link below to fill out a quote request form for a whole life insurance
policy that will provide excellent life insurance coverage at an affordable cost. Or speak with our Life Insurance Agent Specialist toll free at 1-800-498-1819 to discuss the features. |
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Direct Access
Group Benefits, Inc.
340 Route 202
Somers, New York 10589
Toll Free: 1-800-498-1819
(914) 276-6000
Fax: (914) 276-6002
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"Your Westchester County
Life Insurance Agent"
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We offer affordable term, whole, and universal life insurance policy services to
residents of the following New York counties and cities: Westchester County, Putnam County, Orange County, Rockland County, Port Chester, Harrison, Mamaroneck, Larchmont, New Rochelle, Yonkers, White Plains, Rye Brook, Scarsdale, Rye, Ardsley, Hartsdale, Bronxville, Mt. Vernon, Mount Vernon, Irvington, Valhalla, Elmsford, Dobbs Ferry, Hastings on Hudson, Greenburgh, Tarrytown, Sleepy Hollow, Hawthorne, Scarborough, Thornwood, Briarcliff Manor, Ossining, Harmon, Montrose, Crugers, Buchanan, Peekskill, Millwood, Pleasantville, Armonk, Chappaqua, North Castle, Mt. Kisco, Bedford, Pound Ridge, Bedford Hills, Cross River, South Salem, Yorktown Heights, Goldens Bridge, Amawalk, Yorktown, Katonah, Salem Center, Somers, North Salem, Croton Falls, Jefferson Valley, Shrub Oak, Palisades, Sparkill, Tappan, Orangeburg, Pearl River, West Nyack, New City, Nanuet, Chestnut Ridge, Montebello, Suffern, Monsey, Spring Valley, Congers, Nyack, Rockland Lake, Wesley Hills, New Hempstead, Pomona, Sloatsburg, Ramapo, Hilburn, Willow Grove, Mt. Ivy, Thiells, Tomkins Cove, Ladentown, Haverstraw, Stony Point, Tomkins Cove, West Haverstraw, Bear Mountain, Jones Point, Newburgh, Middletown, and Poughkeepsie, NY. |
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We also offer affordable term, whole, and universal life insurance policy services to
residents of the following Connecticut counties and cities: Fairfield County, Stamford, Norwalk, Greenwich, Darien, Riverside, Belltown, Springdale, Round Hill, Old Greenwich, East Norwalk, New Canaan, Glenville, Byram, Cos Cob, Mianus, North Stamford, Glenbrook, Wilton, Weston, Long Ridge, Noroton, West Norwalk, Westport, High Ridge, Southport, North Wilton, Winnipauk, Cannondale, Turn of River, South Wilton, Lyons Plains, Georgetown, Ridgefield, Branchville, Redding, Topstone, Ridgebury, Redding Ridge, Branchville, Dodgingtown, West Redding, Titicus, Hattertown, Bethel, Danbury, New Fairfield, Newtown, Hawleyville, Botsford, Monroe, Bridgeport, Stepney, Shelton, Huntington, Upper Stepney, Long Hill, Trumbull, Stratford, Easton, Fairfield, Greenfield Hill, Stratfield, Nichols, Oronoque, Rivercliff, Devon, Lordship, and East Bridgeport, and New Haven, CT. |
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Using the strength and experience of our life insurance
markets we offer affordable term life, whole life, and universal life insurance policies. |
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Click on one below to learn more!
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Click on the link below to fill out a quote request form for a term life
insurance policy that will provide excellent life insurance coverage at an affordable cost. Or speak with our Life Insurance Agent Specialist toll free at 1-800-498-1819 to discuss the features. |
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(New York - Connecticut - New Jersey)
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(New York - Connecticut - New Jersey)
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A flexible premium policy that combines protection against premature death
with a savings account that typically earns a money market rate of interest. A universal life insurance policy is a combination of term life insurance protection with the cash savings value of whole life insurance. Interest rates paid on the cash value are typically higher than with whole life insurance because they tend to follow the markets. |
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Premiums for universal life insurance policies can be paid in a lump sum,
annually, or anywhere in between. Interest on the cash value is usually guaranteed, but will vary according to the investment performance. Each month deductions are made from the cash value fund to support the costs of the insurance protection. As long as the cash value is substantial enough to maintain the monthly costs, the policy will remain in force. Typically the death benefit reduces in proportion to the increase in cash value, thus causing a level death benefit. |
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Variable Universal Life
Combines the growth potential of stocks with a guaranteed death benefit. It allows
premiums to be paid, reduced, or even skipped at any time, and the contract will not lapse as long as sufficient cash value is available. The cash value fund can be split between different investment mediums, such as bond funds, stocks, and money markets. It's interest-sensitive and allows for an adjustable death benefit. |
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Click on the link below to fill out a quote request form for a universal life
insurance policy that will provide excellent life insurance coverage at an affordable cost. Or speak with our Life Insurance Agent Specialist toll free at 1-800-498-1819 to discuss the features. |
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(New York - Connecticut - New Jersey)
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