Endowment life insurance offers a fixed interest rate and guarantees that your life insurance coverage will be around as long as you will be, as long as premiums are paid. With endowment life insurance, you can provide a permanent death benefit to those who depend on you while earning cash value.

Advantages and disadvantages

An endowment life insurance policy has the flexibility to be adjusted to your personal needs. It's more transparent than other types of fixed life (life insurance that doesn't invest in the stock market) because you can watch your account value increase as it earns interest and decrease when charges are deducted. Your policy's cash value earns interest based on the company's current interest rate.

However, endowment life insurance also puts greater responsibility on you — you are in charge of making the coverage changes that are right for you, and you take on the investment and mortality risks.

Keep in mind that as your life changes (for example, marriage, birth of a child or a job promotion), so will your life insurance needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges including costs of insurance that vary based on the insured person’s gender, health and age. There are additional charges for extra benefits added to customize a policy to fit your individual needs.

Contact us for further details concerning the various plans, options, and quotations.