Life Insurance

Who will pay for your final expenses?

How will your surviving spouse live without your income?

Life insurance is the most affordable way to provide for loved ones who must continue without you. As one of the strongest protection vehicles available, life insurance serves many purposes.

▲    Final expense cost to family and friends

▲   Debt pay off

▲  Medical bills left behind

▲   Income to a surviving spouse or children

▲  Mortgage protection

▲   Tax Free

▲   Wealth transfer

▲    Settlement fund

Types of Life Insurance:

Whole Life - lasts your whole life to age 120, premiums stay level, and provides a cash value based on a declared credited interest rates calculated on premiums paid into the policy.

Universal Life - considered a type of whole life, UL offers significant flexibility - to change the level of coverage or to stop and resume premium payments. As a result, universal life policies can be adjusted to meet your changing needs. UL policies offer a cash value either from a fixed interest rate or an indexed market tied rate.

Term Life - last for the period you purchase coverage for such as 10, 15, 20, 30 years, provides an option to convert to whole life throughout the term period, does not build cash value. Premiums can be guaranteed or increase after a certain time. Most affordable for the face amount.

 Graded Life Insurance - a whole life policy purchased by someone who cannot make it through the health underwriting process. Graded means that for the first two years of the policy the insurance company will not pay the death amount if the owner dies within that initial period, only a percentage or all of the premiums paid into the policy will be paid. After the two year grace period the policy will pay the total death amount.

Scozia IFS offers several underwriting options for the different types of coverages we offer: full underwriting, express underwriting and application only.