Life Insurance
Life insurance makes sure your loved ones are taken care of long after you are gone.
Life is unpredictable, but you can ensure your family’s financial security with insurance that helps today and tomorrow. At CanDo Financial, there are a range of policies, including term life, whole life, and universal life insurance, to meet you and your loved one’s specific needs.
Life Insurance Products
CanDo Financial’s professionals can discuss a range of life insurance products designed to address various needs and financial goals.
Term Life Insurance1
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Unlike traditional life insurance, no-medical-exam life insurance is designed to provide straightforward and affordable coverage for a specific period without the hassle of bloodwork and nurse visits. It’s ideal for those seeking temporary protection with the flexibility to convert to a permanent policy later.
Key Features:
- No Medical Exams: Simplifies the application process. Approval is based on the information provided in the application and records from sources like your primary care physician, the Medical Information Bureau, and prescription history.
- Financial Hardship Feature: Allows premium reduction to $1/month for six months during financial hardship.
- Life Events Feature: Enables coverage increase after significant life events without additional proof.
Most term life policies provide protection for a set period, with the option to convert to a permanent policy. They are suitable for those looking for basic coverage with the flexibility to adjust as needs change.
Key Features:
- Fixed payments, choice of term length (10, 15, 20, 30 years), and conversion options.
This policy type offers affordable protection with added value options, such as access to the policy while alive or conversion into a permanent policy.
Key Features:
- Fixed payments, choice of term length, and conversion options.
Whole Life Insurance2
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Whole life insurance provides lifelong coverage with a guaranteed death benefit and cash value accumulation. It’s ideal for those seeking permanent protection and a savings component.
Key Features:
- Guaranteed death benefit, cash value growth, and fixed premiums.
Whole life insurance provides lifelong coverage with a guaranteed death benefit and cash value accumulation. It’s ideal for those seeking permanent protection and a savings component.
Key Feature:
- Guaranteed death benefit, cash value growth, and fixed premiums.
Universal Life Insurance3
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Universal life insurance offers flexible premium payments and the potential to build cash value. It’s suitable for those who need lifelong coverage with flexibility in premium payments.
Key Features:
- Flexible premiums, cash value growth, and adjustable death benefit.
This policy type provides a death benefit with the potential to build cash value based on the performance of a selected index.
Key Features:
- Indexed cash value growth, flexible premiums, and death benefit protection.
Variable universal life insurance offers the greatest potential for cash value growth through underlying investment options. It’s ideal for those comfortable with investment risk.
Key Features:
- Investment options, cash value growth potential, and flexible premiums.
Optional Riders Overview4
Early Benefit Access Riders
- How It Works: Accelerates the death benefit if the insured becomes chronically or terminally ill. The funds can be used for any purpose.
- Applicable Products: Available with many permanent policies.
Living Benefit Riders
- How It Works: Provides access to the death benefit if the insured is diagnosed with a terminal illness, needs a vital organ transplant, or expects to be permanently confined to a nursing home.
- Applicable Products: Available with various life insurance policies.
Waiver of Premium Riders
- How It Works: Waives premium payments if the insured becomes totally disabled, ensuring the policy remains in force.
- Applicable Products: Available with many term policies.
Enhanced Disability Benefit Riders
- How It Works: Keeps the policy in effect by waiving monthly deductions if the insured becomes totally disabled.
- Applicable Products: Available with permanent policies.
This material contains only general descriptions intended to assist in educating you and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. Guarantees are based on the claims paying ability of the issuing company.
1Insurance companies alone determine insurability and some people may be deemed uninsurable because of health reasons, occupation, and lifestyle choices.
2Both loans and withdrawals from a permanent life insurance policy may be subject to penalties and fees and, along with any accrued loan interest, will reduce the policy’s account value and death benefit. A policy loan could result in tax consequences if the policy lapses or is surrendered while a loan is outstanding.
3Variable Universal Life Insurance/Variable Life Insurance policies are subject to substantial fees and charges. Policy values will fluctuate and are subject to market risk and to possible loss of principal. Investors should consider the investment objectives, risks, charges and expenses of the variable insurance contract and sub-accounts carefully before investing. The prospectus and summary prospectus contain information about the variable insurance contract and underlying investment options. Read prospectuses carefully before investing.
4Riders are additional guarantee options that are available to an annuity or life insurance contract holder. While some riders are part of an existing contract, many others may carry additional fees, charges and restrictions, and the policy holder should review their contract carefully before purchasing.
You can do it. We can help.
Ready to take the next step in your financial journey? Contact us today to schedule a consultation with one of our skilled financial professionals. We look forward to helping you work toward your financial goals.