You work hard to build a secure future. Life Insurance helps you preserve it. The right Life Insurance helps ensure your debts don’t outlive you, that your loved ones stay in the family home and help you leave a legacy. PIB’s Trusted Advisors can help you navigate the often-confusing options and find the best protection for you as your needs evolve over time. Secure your tomorrow with the
right coverage today.
Life Insurance Coverage
Term Life Insurance
Term Life Insurance provides customizable coverage to meet a range of needs. It offers income and debt protection with a lump-sum benefit in the event of death. Term lengths are flexible depending on your needs – from less than 10 years to greater than 30 years, or for as long as needed. Term Insurance provides flexible, affordable and straightforward protection to help your family manage financially if you’re no longer here.
Permanent Life Insurance
Permanent Life Insurance provides lifelong coverage, not just a set term, and includes a built-in savings or investment component known as cash value. PIB’s experienced insurance advisors can advise you on the best insurance for your needs. Options include:
- Universal Life
These policies offer flexible premiums and are interest-rate sensitive. There are two components: Life Insurance and an investment account, making it a versatile option for those who want insurance and long-term growth in one policy. - Whole Life
Whole Life is a traditional Permanent Life Insurance with a fixed premium, a guaranteed tax-free death benefit, and guaranteed steady cash value growth. It can help cover taxes, debts or leave a legacy. - Term to 100
Also called Term 100 or T100, Term to 100 Insurance offers lifetime coverage, but without a cash value or investment component. For this reason, the premiums are lower than Whole Life or Universal Life. It’s ideal for those who want simple, permanent, lower cost coverage.
Mortgage Insurance
Many new homeowners buy traditional Mortgage Insurance from the bank. With typical bank Mortgage Insurance, you pay a set premium, however, since the volume of your mortgage is continually being reduced, your payout is less than the original purchase. With a Life Insurance policy, the benefit level remains constant with every payment and the bank is not designated as your beneficiary.
Bank Mortgage Insurance vs. Personal Life Insurance
Unsure which Life Insurance option is the best solution for you?
Talk to an experienced PIB insurance advisor to put together a plan that fits into your needs,
now and over time.
You live your life — we’ll help you protect it
Together, we’ll create a plan that fits your needs — so you can focus on the things that matter.
FAQs
Do I need Life Insurance?
The answer depends on your personal and financial situation, which is why it’s best to talk to an advisor. You need it if someone depends on your income, you have debts, you want a financial safety net for your family, you own a business or if you want to cover final expenses, taxes or leave a legacy.
What type of Life Insurance is best?
The answer depends on your goals, budget and stage of life. There is no one-size-fits-all answer. There are low-cost options with straightforward protection, insurance that offers cash value growth, customizable insurance and other variables. Talk to an insurance advisor to make sure your needs are covered.
What is Mortgage Insurance?
There are a few options for Mortgage Insurance, but the best alternative to traditional, lender-owned policies is Life Term Insurance — a policy you own, that pays your beneficiary directly vs the bank and covers your mortgage and more.
The Power of 6
We offer a unique comprehensive suite of insurance and wealth solutions rarely found within one team. From personal to business, protection to planning, we cover every financial need with expert care and insight.