When the unexpected happens, lives change, but memories indelibly remain. And although you can’t predict what tomorrow will bring, you can help control to protect your family’s financial future with life insurance from Great-West.
Individual life insurance is simply a contract between a life insurance company and an individual. In its most basic form, a person makes payments to a life insurance company today, which agrees to distribute future benefits to the insured’s loved ones in the future upon the death of the insured.
There are many types of insurance, and it can be a bit challenging to choose the type of policy that fits your situation. Your financial professional can help you with this important financial decision. Here is some basic information to help you get started.
Single Premium Life
Family LegacySM Single Premium Universal Life Insurance is designed to help maximize the transfer of your assets to your loved ones, while also allowing you access to your money. With Family Legacy, you can feel confident that your assets will be transferred, just as you intended. Learn how you can protect the future of your loved ones with Family Legacy.
Life is for the living — and as you enjoy today, it’s important to plan for tomorrow. Whole life is the most common type of permanent life insurance. Essential Whole Life? from Great-West locks in your premium rates so they are guaranteed not to increase over time. You can decide how often to make premium payments — monthly, quarterly, semiannually, or annually — and your premiums will be credited with a fixed rate of interest that builds cash value. And, with Essential Whole Life, you can leave a legacy for your loved ones or borrow from your cash value if necessary.1
1 Loans and surrenders from a whole life policy will reduce the policy's death benefit.
Term life insurance is basic life insurance designed to protect your family from an unexpected loss of income, and it can offer you the most insurance coverage for your dollar. Essential Term? Life from Great-West Financial provides a significant amount of coverage at a reasonable cost over a 10-year or 20-year term, helping to give you the confidence of knowing your loved ones are protected should you not outlive your term.
For individuals willing to undergo full underwriting, Summit Term® from Great-West offers attractive rates and higher coverage amounts for longer term-lengths.