Life Insurance

Live your passion. Making life insurance a part of your overall investment plan can ensure that your spouse, your family and your interests are taken care of after you are gone. Do you have a plan for the sustainability of your ranch or estate? Who will cover the funeral expenses? Will your spouse, children or loved ones be able to support themselves without you? At RCB Wealth Management, we will help you determine how much life insurance you need and what type of policy is best for you and your families' individual circumstances.

For more information on selecting the right policy for you, contact your financial advisor at RCB Wealth Management or, if you are not yet a client, click here to find an advisor nearest you.

Life Insurance Options

Term Life Insurance

If you’re looking for protection during a specific time period at a reasonable price, consider term life insurance.

Protection is limited to a specified and finite period of time, usually between one and 20 years.
Death benefits are paid only if death occurs during the period covered by the policy.
Coverage ceases when premiums are not paid.
Policy costs less than other types of insurance, but provides equal protection.
It provides the largest immediate coverage per dollar since it lasts only for a specific period of time.
You may have two additional options available when purchasing term life insurance: renewable and convertible policies.
Renewable Term Life Insurance
Under this type of policy, the holder does not need to provide evidence of insurability to renew the policy. Premiums may increase, however, at time of renewal.
Convertible Term Life Insurance
Convertible term life policies can be exchanged for whole life, universal or variable policies. Policyholders do not need to provide evidence of insurability, but premiums will increase since you are moving from a term to a permanent policy.

Whole Life Insurance

As its name suggests, a whole life policy remains in effect your entire life. It differs from term insurance in that a portion of the premiums goes into a cash value account.

Protection is provided for as long as you live.
Death benefit is guaranteed.
Cash value grows income tax-deferred.
Cash value may be borrowed from the policy.
Premiums do not increase as you get older.
Insurance proceeds paid to the beneficiary are received income tax-free.

Universal Life Insurance

A universal life policy offers a wide range of choices regarding premium payments, allowing you to choose how much will be paid and when.

Premiums are flexible and are subject to specified minimums and maximums.
Death benefits, which are generally free from federal income tax, can be increased or decreased as necessary.
Cash value of the policy accumulates, tax-deferred, at current interest rates.
You receive cash value when redeemed, which reflects the interest earned on the account. This is only upon termination of the insurance policy.
Portions of the cash value may be withdrawn for special needs, such as college tuition, without paying interest or surrendering the policy.

Variable Life Insurance*

Designed for growth, variable life insurance allows you to invest the cash value of the policy into various investment alternatives. This allows cash value the potential to grow at a faster rate than it would in another type of plan.

The insurance amount is designed to be level or increase as the policy cash value increases.
Policy cash value fluctuates according to underlying investment performance.
Cash value and death benefit may be invested in sub-accounts containing domestic or international stocks, bonds, real estate and other, more speculative investments.
Higher cash values and death benefits may be obtained or lost due to the financial climate and investment performance.
Investment earnings are income tax-deferred.

Download Life Insurance Policies Comparison Chart

Life Insurance Policies Comparison Chart

	Term Life	Whole Life	Universal Life	Variable Life*
Policy term	Stated in policy	Life	Life	Life
Type of death benefit	Face value	Face value (dividends)	Face value and/or face + cash value	Face value and/or face + cash value
Cash value	None	Fixed rate, guaranteed	Current rate, guaranteed minimum	Variable rate, not guaranteed
Investment choice	N/A	No	No	Yes
Regulatory agency	Insurance	Insurance	Insurance	Insurance and securities

* Investors should carefully consider the investment objectives, risks, charges and expenses of variable life insurance before investing. The prospectus contains this and other information about variable life insurance. The prospectus is available from your financial advisor and should be read carefully before investing.

There are fees and charges associated with variable life insurance policies. Charges vary based on the circumstances of the insured life. Surrender charges vary by issue age, risk class and gender. Loans and partial withdrawals will decrease the death benefit and cash value and may be subject to policy limitations and income tax. A 10% federal tax penalty may also apply if the loan or withdrawal is taken prior to age 59½. All guarantees, including death benefits, are subject to the claims-paying ability of the issuing insurance company. An investment in variable life insurance involves risk, including possible loss of principal. Investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than the original investment.