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Life Insurance
The professionals at PWMG offer all forms of life insurance on an individual or group basis. We
are totally independent and do not represent any particular insurance company.
It is our practice to find the company that best meets the needs of each client.
In so doing, there is a list of companies we have come to favor because their
products have done so well for many of our clients.
 Individual
Life Insurance
The professionals at PWMG represent a variety of life insurance companies that specialize in different
types of policies that meet our client needs. The policies we offer include traditional
Whole Life, Universal Life, Term Insurance and Second-to-Die as well as Variable
Life and Annuity products.
Group Life Insurance
Provides death benefits for employee groups. Different rates and plans are available
depending upon the number of employees in the group as well as the size of the
policies.
Permanent Vs. Term Life Insurance
The differences between term and permanent life insurance (such as whole life,
universal life or variable universal life) have sometimes been compared to renting
versus buying a home. Term insurance is like renting in that premiums provide
immediate protection, but do not build "equity" in the asset. At the
end of the term, coverage expires without value. On the other hand, permanent
insurance generally has a feature that allows it to accumulate a cash value on
a tax-deferred basis. Other comparisons:
| PERMANENT LIFE INSURANCE |
TERM LIFE INSURANCE |
• Substantially higher initial premium
• Lifelong protection
• Premiums can often be locked in for the life of the policy
• Death benefit protection plus cash value accumulation |
• Low initial premium
• Temporary protection
• Premiums increase periodically
• Death benefit protection only |
Term life insurance provides pure life insurance protection. If you die during
the term of your policy, your beneficiaries will receive the death benefit you
selected. At the end of the term, the policy expires without value. Many policies
can be renewed (at a higher rate based on the insured's attained age) at the end
of the term.
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