To Cover Me or My Family
Life Insurance

With access to over 200 insurance carriers, Capitol Benefits, LLC has the ability to match the specific needs of our clients to the best insurance company and product available.  There are many types of life insurance policies available today.  Many people pay too much because they chose the wrong type of insurance or applied to the wrong insurance carrier.  Our team will review your needs with you and make recommendations that are appropriate for your specific situation.  In the event that something unexpected comes up from the insurance company that you applied to, we can easily submit your application to another life insurance company without having to start the process over again.   Here is some basic information about common types of life insurance…

The descriptions below are designed to give you a brief overview of each type of insurance.  Every policy is different.  You should only rely on your specific policy for information about your coverage, cash value, or any other details. 

Term Insurance

 This type of life insurance is similar to renting an apartment or home.  You sign an agreement that the insurance company has to provide coverage for you for a designated period of time.  It can be one year, five, 10, 20, or 30 years.  At the end of the agreement, your life insurance policy goes away.   This is a great solution for someone that has a temporary need for insurance such as covering college expenses for a child, covering the mortgage, or for a business loan.   These policies can generally be cancelled at any time. 

Universal Life Insurance

This type of life insurance is very flexible.  Universal Life insurance policies are generally designed to remain in-force until you pass away.  As long as premiums are paid as required, the policy will stay in force indefinitely.  If you cancel the policy at any time, there is “cash value” account in the policy that may be returned to you.  Some of these policies charge a “surrender fee” if you cancel the coverage before a certain period of time. 

Whole Life

This insurance is usually designed to have a premium that gets smaller over time.  At some point, the policy should be able to stay in-force while no further premium payments need to be made.  If the policy is canceled, a “cash value” may be returned to the policy owner. 

Group Life

Purchasing life insurance through an employer is usually a very affordable solution to supplementing your life insurance portfolio.  It is not recommended that this be the basis for your insurance portfolio as it is often impossible cost prohibitive to continue your group life insurance coverage should you decide to leave your employer.  Since life insurance premiums are higher as you get older, it may not be affordable to purchase life insurance at the time that you leave your employer.  We recommend using group life insurance to supplement your portfolio.