From term life, whole life, quality of life, universal life, and variable universal life, we have a life insurance policy that fits you best. We offer many different life insurance policies including term insurance, lifelong protection and cash value of permanent insurance, and or a combination of both. We provide options to fit your needs and budget and let you decide which coverage is right. Ask us about our protection and investment plan options.
Term Life Insurance
Term life insurance provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions. If the life insured dies during the term, the death benefit will be paid to the beneficiary.
What does a Term Life Insurance Policy Include?
- Help provide for a family’s loss of income
- Cover short-term debts and needs
- Provide additional insurance protection during the child-raising years
- Provide longer term protection to help your family pay off a mortgage
- Provide longer term protection to help your family pay for a college education
- Temporary coverage without a lengthy application process or medical exam
- A built-in conversion guarantee
- Level Premiums for 10, 15, 20, or 30 years
Whole Life Insurance
Whole life insurance is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date. As a life insurance policy it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death benefit of the policy to the policy’s beneficiaries when the insured dies.
What does a Whole Life Insurance Policy Include?
- Guaranteed income-tax free death benefit
- Guaranteed level premium
- Guaranteed cash value, which can grow tax-deferred
- A choice of riders or add-on benefits to customize your coverage
- Permanent coverage without a lengthy application process or medical exam
- Death benefit immediately higher than the single premium
- 100% return of premium guarantee
- Minimum guaranteed interest rate (reduced by cost of insurance and expense charges)
- Immediate access to principle
Universal Life Insurance
Universal life insurance is a type of cash value life insurance. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate.
Why Choose Universal Life Insurance?
- Flexibility — You decide the amount of life insurance and premium payments subject to policy minimums
- Death benefit — Life insurance proceeds are generally income tax free to the beneficiary
- The growth in cash value is tax-deferred under current federal income tax law
- Access to cash value — The cash value can be accessed to help with education expenses, provide a retirement supplement, or other personal objectives
- Provides for a family’s loss of income, mortgage costs, and educational needs
- Access to cash value for life’s opportunities
- Estate, special needs, and business planning
Life Insurance Riders
At Nevada Insurance Solutions, we want to protect your future. Life insurance riders provide additional benefits to your life insurance policies. We have various insurance providers that offer different coverage on your life insurance policy, therefore, we let you choose the coverage you want, and we will lead you in the direction of a provider that is the right fit for you.
Long Term Care Rider (LTC)
This rider will allow you to take a portion of your death benefit to pay for the cost of long-term care services such as nursing homes or home healthcare.
Chronic Illness Rider
In a sudden event of illness, this rider can help pay expenses. This rider assists the policy holder pay expenses in the event of a terminal illness with 12 months or less to live.
Waiver of Premium Rider (WOP)
If the policyholder becomes critically ill, seriously injured, or disabled, the waiver of premium rider will waive premium payments until you’ve recovered from your disability.
Return of Premium Rider (ROP)
This allows you to get a refund for all your insurance premiums if you haven’t been diagnosed with a covered condition during a specified period. You’ll typically get back 100% of the premium you paid.
Accidental Death Benefit Rider
If you die in an accident, the Accidental Death Benefit Rider of your life insurance policy will pay an additional amount – usually two times the amount of the benefit – to your beneficiaries.
Child Protection Rider
You would add this rider to your policy to cover the life of your child. This can help pay for funeral expenses as well as loss of income while you grieve for your child’s life.