What is it?

Whether you are looking for a coverage that will cover mortgage payments or provide your family sufficient funds for college or regular expenses, we have a plan that fits your need.

 

Why do I need it?

Life insurance is the best way to protect your family from unexpected financial hardships.

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How much life insurance do I need?

Check out this simple calculator: Life Insurance Calculator

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Common Questions

What types of coverage are there?

• Decreasing Term Level

  • Level premiums and decreasing benefit. No cash accumulation. Frequently used for short term decreasing financial liabilities, like a mortgage.

• Annual Renewable Term

  • Increasing premiums with level death benefit. No cash accumulation. The strength of term is its low cost for a large death benefit, particularly beneficial to young families with limited resources and the need for maximum coverage.

• Level Term

  • Premiums stay level for stated term. It is usually 5, 10, 15 or 20 years and has level benefit. No cash value. This frequently is used to cover short and intermediate debt obligations. 

• Whole Life 

  • Premiums and death benefit are level. It has cash value accumulation. It provides for long term needs such as survivor income for a spouse or minor children. Other uses could include paying off debt and paying estate taxes or final expenses.

• Universal Life

  • Premiums and death benefits are flexible. The monthly cost of insurance and administrative charges are deducted; the balance of the premiums goes into cash values. The benefits and uses are similar to whole life. The cash values can increase based on current interest rates.

• Single Premium Life

  • A single premium paid up front. Level minimum death benefit. Cash value accumulation. It provides long term security. Different tax rules usually apply. 

• First to Die Life Insurance

  • May have flexible premiums and benefits. It provides death benefit at the death of the first of two or more parties covered by the policy. Most often used in business situations.

• Survivorship Life Insurance

  • May have flexible premium with level minimum death benefit. Most often used to pay death taxes and expenses due at second death.

At Sumner Insurance Services we work with several different companies to find the plan that you desire at the lowest premium available.