Individual Life Insurance
Life insurance from Simpli-Insured offers essential protection for your family’s financial future, ensuring they have the necessary funds to cover various expenses. It provides the means to handle burial costs, uninsured medical bills, mortgage payments, outstanding debts, and maintain a comfortable standard of living.
We offer a range of life insurance policies tailored to your specific needs:
Term Life Insurance:
Term life insurance is a cost-effective option that provides maximum coverage for your family. It offers protection for a specific period, typically ranging from 5 to 30 years. If the insured individual outlives the policy term, the insurance expires without value. Term life insurance premiums remain fixed throughout the guaranteed term, providing the largest coverage for your premium payment. The policy remains in force as long as premiums are paid, but coverage terminates if premium payments are discontinued.
Universal Life Insurance:
Universal life insurance offers flexibility to policyholders. You have control over the amount and frequency of premium payments, which determine the duration of payment. Premiums cover the insurance component, savings or investment element, and expenses. The interest rate on the investment portion adjusts with market rates. Changes typically occur in 1/4% interest increments, aligned with the movements of financial institutions.
Whole Life Insurance:
Whole life insurance provides lifelong protection from the policy issue until the insured’s death, as long as premiums are paid. Premiums are set at policy issuance and remain level throughout the policy’s life. Unlike term insurance, whole life insurance combines insurance protection with a savings or cash value component that grows over time. The cash value accumulation can serve as a source for living benefits, such as paying off a mortgage or funding a child’s education. It can also be utilized as cash surrender value if the policy is canceled. It’s important to note that these products evolve over time, and we are here to provide you with the latest information and available policies.