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What is life insurance?

The key component to all life insurance is to provide financial protection for those loved ones left behind should the unexpected happen. In its simplest form, life insurance is a promise between an insurance company and you, the policy owner. If you pay a certain amount of money (premium) to the insurance company, the insurance company will pay a certain amount of money (death benefit, which is generally income-tax-free) to the person (beneficiary) once the person whose life is being insured dies.

Life Insurance Strategies

Frumkin Financial can assist you with many types of life insurance.


Indexed universal life insurance helps families continue so they can send children to school, pay the mortgage, and cover life’s daily expenses. It may also help businesses continue should a key person die, so the remaining employees may keep working and provide for their families.


Term insurance only provides a death benefit for a limited period of time. By contrast permanent insurance can provide a death benefit and the potential to build policy cash value that you can access during your lifetime using policy loans and withdrawals.¹


Permanent insurance can also offer the flexibility to increase or decrease your death benefit as your needs change, as well as the potential to reduce or skip premium payments.²

¹ Policy loans and withdrawals reduce the policy’s cash value and death benefit and may result in a taxable event. Withdrawals up to the basis paid into the contract and loans thereafter will not create an immediate taxable event, but substantial tax ramifications could result upon contract lapse or surrender. Surrender charges may reduce the policy's cash value in early years.

² It is possible that coverage will expire when either no premiums are paid following the initial premium, or subsequent premiums are insufficient to continue coverage.

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