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		Term life insurance is designed to provide you with insurance protection for a set period of time, at an affordable price. If you die within the time period, your beneficiaries can receive the amount specified in your policy, tax-free. Term Life is pure insurance protection that pays a predetermined sum if the insured dies during a specified period of time. On the death of the insured, term insurance pays the face value of the policy to the named beneficiary. All premiums paid are used to cover the cost of insurance protection.

The term may be one, five, 10, 20 years or longer. But, unless renewed, the insurance coverage ends when the term of the policy expires. Since this is temporary insurance coverage it is the least expensive to acquire. A healthy 35 year old (non-smoker) can typically obtain a 20-year level-premium policy with a $250,000 face value, for between $20-$30 per month. Here are the main characteristics of term life insurance:

- Temporary insurance protection
- Low cost
- No cash value
- Usually renewable
- Sometimes convertible to permanent life insurance

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		It is important to keep two things in mind when purchasing a home and buying mortgage insurance: 1. Don't focus entirely on your loan negotiations and hastily take out mortgage insurance with your bank or trust company, where the bank or trust company becomes the beneficiary.

2. Don't make the mistake that loan approval and mortgage insurance plans are the same. They are distinct products. Mortgage insurance can be purchased from a company other than your loan provider, so you retain control of your plan.

Differences between insurance from banks/trust companies and individual mortgage policies.

We strongly recommend the following four mortgage insurance solutions:

1. Term insurance for 10 or 20 years as the most cost-effective protection.
2. All-in-one, life, disability and critical illness coverage as the most complete protection.
3. Mortgage and your money back protects you from a critical illness. If you do not have a claim, you receive a premium refund and get your entire principal back after 10 or 20 years.
4. Permanent and term life combination , the term can be converted down the road or you can let it drop off (terminate) once your mortgage is paid off. The permanent portion will be paid up in 20 years. Therefore there should be no need to apply for insurance later in life, you will be older (higher premiums) and who knows what your health will be like in the future .

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		Universal Life Insurance is a flexible-premium, adjustable benefit life insurance policy that accumulates account value. The flexibility of this policy allows you to change the amount of insurance as your needs for insurance change. Some changes require underwriting approval. As with all life insurance, the main purpose for buying a Universal Life insurance policy is the death protection provided to your loved ones at your death.

Security -- You help protect your loved ones against possible financial hardship in the event of the insured's death.

Tax-Free death benefit -- Under current tax laws governing individual life insurance, life insurance proceeds are generally income tax free to the beneficiary.

Tax-Deferred account value growth -- Your policy's Account Value earns interest at the company's current interest rate -- federal income tax deferred. The current interest rate is guaranteed to be at least 4% a year.

This is a general description of coverage. A complete statement of coverage is found only in the policy.

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		Whole Life Policies were designed to provide permanent insurance (the kind that you plan to have when you die) plus have a savings component at a single monthly premium. There has been a lot of this product sold over the years. Whole Life Insurance has a level cost of insurance where the costs do not increase each year - what you pay in the first year is the same as in the last

year but they do not disclose the cost of insurance. They also do not disclose the administration costs. After the "cost of insurance" and "administration costs" are covered, the balance of the premium is the savings or investment portion. The returns on the savings or investment part is dependent upon excess interest and investment earnings, savings in mortality costs, the operating expenses and the will of "the insurance company board of directors" - they choose what they will pay.

To summarize, apart from a minimum guaranteed return, the policies do not disclose the cost of insurance, the administration costs, or how they calculate the returns on your savings portion. You can not choose where the money is invested and they do not disclose the return you are receiving. You will have an illustration showing a guaranteed "cash value" and another cash value which reflects non guaranteed projected returns.

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