What is term insurance?
As its name indicates, term life insurance insures you for a specific term or span of years. If you die during the term, your beneficiary is paid the coverage amount subject to your policy terms. Because it provides "pure" insurance without any cash value accumulation, term coverage is generally less expensive initially than permanent coverage. Term insurance provides a great answer to the question: How will your family manage if you die prematurely?

What is the main advantage of term life insurance?
Term life insurance helps to provide peace of mind for you and your family. It also helps you protect the assets you've worked so hard to attain. And all this security reaches up to 30 years into the future, at guaranteed level premiums you can afford today.

What is whole life insurance?
Life insurance under which coverage is intended to remain in force during the insured's entire lifetime, generally to age 95 or 100, providing premiums are paid as specified in the policy. A whole life insurance policy can build cash value on a tax-deferred basis. Both the premiums to pay and the cash values that result are predetermined and found in the policy. The cash value is an amount of money available to the policyowner for policy loans or as the surrender value if the policy is canceled and returned to the company.

What is cash value?
The amount of money which the policy owner will receive if the policy owner cancels the coverage and returns the policy to the company. With pure whole life insurance, the cash value is guaranteed; the investment risk is the company's. As an added benefit, cash value can be used by the policy owner as a "cash reserve" for emergencies, extra income or college expenses. This is considered a loan. What's more, you're not obligated to repay the loan, but any amount not repaid will be deducted from the policy's death benefit.

What are the advantages of universal life insurance?
Flexibility of payments, tax-deferred cash value accumulation and coverage options (subject to contract requirements) are the primary advantages over term insurance. Because of these advantages universal life can be used in estate planning and retirement planning, offering the insured a variety of options. You should talk to a Nash Insurance representative for more details, and for assistance in determining which policy is right for you.

What is universal life insurance?
Universal life insurance is a permanent insurance product in which the internal policy charges and interest crediting components are specifically broken out separately in the policy. Universal life insurance cash value is dependent on the investment returns credited. Within certain limits, the policy owner can choose the premium he or she wishes to pay and this will determine how the policy values develop. The policy owner benefits from current investment and expense experience.