Life Insurance

The future is uncertain, but your future doesn’t have to be with advance planning. Life insurance helps you prepare and plan, so that you can better manage your assets and provide for loved ones. Oliver Insurance Agency can guide you through the complicated maze of options and plans – a trustworthy partner with your best interests in mind.

Life Insurance Options
We offer three different life insurance options, including Term Life, Whole Life and Universal Life coverage.

Term Life insurance is the most basic form of life insurance and offers employees and individuals affordable coverage – usually with a guaranteed premium – for a predetermined time period. Term life insurance is often less expensive and can be a good option for those who will only need insurance for a specified number of years. Policies may also be converted to a permanent insurance policy for a limited period of time from as little as two years to a pre-determined year in the policy, offering more flexibility.

The difference between term insurance and permanent insurance is that term insurance doesn’t accumulate cash value, while permanent coverage has a cash value component that accumulates on a tax favored basis inside the product. It’s protection at a competitive price that allows you to enjoy life – without financial worries.

Whole Life insurance offers permanent death benefit coverage with strong guarantees and premium payments that are typically higher. If the premium is paid as scheduled, the death benefit is guaranteed. Premiums for whole life are usually the most expensive compared to other policy options.

Universal Life insurance, while also offering permanent death benefit coverage, is known for its premium flexibility and cash value accumulation. The amount and schedule of premium payments is flexible, as long as policy cash values are enough to pay for the cost of coverage. Typical death benefits options available include a level death benefit or an increasing death benefit. In recent years, universal life policies have also started to offer competitive death benefit guarantees if policyholders pay a minimum premium amount.

We understand that there’s a lot to consider when it comes to researching and choosing life insurance, and Oliver Insurance Agency is here to help.

We have the knowledge and the experience to design a flexible plan with versatile options and affordable premiums that also consider taxation issues and overall cost. We look forward to working with you.