Pacific Light Financial And Insurance Services Inc
Pacific Light Financial And Insurance Services Inc
1912 Otoole Way, San Jose, CA 95131
Toll Free Number:
1-800-959-1288
Tel: (408) 719-1288
Fax: (408) 719-8883
Why we need Life Insurance?
Life insurance is insurance that will protect your family and/ or specified dependents in the event of the policy holders death. In general, it is an essential component in planning for the future.
How many type of Life Insurance plans?
There are many options/riders with coverage, depending on your situation. Anyway, there are three main categories of life insurance: term life, universal life, and whole life insurance.
• Term Life: insurance that you pay fix premium for over a specified length of time, or term-generally 1 to 30 years. If the death of policy holders occurs during this time, insurance benefits are paid. If occurs after this time period has expired, no insurance benefits are paid.
• Universal Life: permanent insurance, which has the potential to accumulate cash value. However, it offers additional features and options as well. For example, you can increase or decrease your policy's face amount to accommodate your changing protection needs. You can also increase or decrease the dollar amount of your premium payments and make additional lump sum payments to your policy.
• Whole Life: It's life insurance that you own for your entire lifetime. The amount of the death benefit or face value can be selected to meet your needs. Premiums, or payments, are fixed and can be paid monthly, quarterly, semi-annually, or annually. As more premiums are paid, your policy accumulates a cash value, which grows on a tax deferred basis.
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