Celebrate National Insurance Awareness Day with First Investors Life: Receive a Free No-Obligation Consultation
NEW YORK, June 28, 2015 /PRNewswire/ - Life insurance is one of those things that many people don't consider because they think it's too confusing or expensive. However, First Investors Life wants everyone to know that life insurance is too important to ignore, especially on June 28, which is National Insurance Awareness Day.
"Knowing your family will be taken care of if something happens to you should bring you a sense of security, not fear," explains Carol Springsteen, President of First Investors Life Insurance Company. "And owning the right type and amount of life insurance coverage can bring you the financial peace of mind that you and your loved ones deserve," she said.
"Advanced financial planning should include more than just budgeting, investments, college savings and retirement planning," added Springsteen. "It should also contain a life insurance component. Even though life insurance is not a 'one size fits all' proposition, there are a wide range of policies available. Each policy has its own specific features and benefits that can appeal to just about anyone," she said.
Life insurance policies may include (subject to the terms and conditions of the policy):
Permanent Insurance is designed for people who have a long-term need for financial security. Premiums are a fixed amount and you are covered for as long as you pay the required premiums.
Variable Life Insurance is a form of permanent insurance that offers the traditional protection of a death benefit and the opportunity to accumulate cash value through invested subaccounts that may consist of stocks, bonds or money market portfolios. First Investors Life offers three variable life policies, each with its own special features and benefits: ISP CHOICE, Single Premium Variable Life and Variable Universal Life.*
Fixed Whole Life Insurance premiums are fixed for the life of the policy. As long as your premiums are paid in a timely manner, the policy will remain in force and it cannot be cancelled. Additionally, your policy builds cash value on a tax-deferred basis, which can be used to help fund expenses during your lifetime.
Term Life Insurance is designed for individuals who need life insurance protection for a specific period of time, such as 10, 20 or 30 years. The premiums are generally less expensive than those of permanent insurance at a given age. However, term insurance premiums may increase after either the guarantee period or the initial term period expires. Term life insurance does not accumulate a cash value.
Contrary to popular belief, life insurance can be surprisingly affordable. According to Life Happens, a non-profit dedicated to educating the public about important insurance planning topics, the number one reason people don't buy life insurance is because they believe it's too expensive. Insurance policies and rates are determined by a number of factors, including age, health, and amount of insurance purchased, so an individual premium payment could vary. However, $100,000 of life insurance could be purchased by a 25 year old male for less than $15.00 per month.
Don't let another year pass by without life insurance. Take advantage of National Insurance Awareness Day by scheduling an appointment with a First Investors representative who can help you determine your insurance needs and discuss what type of policy is right for you. Using their Survivor Needs Worksheet, a First Investors representative can give you an estimate of how much coverage is necessary to protect you, your family and your business with a free, no obligation consultation.
Life insurance products offered by First Investors Corporation are underwritten by First Investors Life Insurance Company.
*May not be available in all states.
About First Investors
First Investors is a diversified financial services company helping everyday families reach their financial goals, offering solutions such as investment products, and life insurance as well as strategies spanning saving, investing, education funding and retirement. First Investors Corporation and First Investors Life Insurance Company are subsidiaries of First Investors Consolidated Corporation. All securities products are offered through First Investors Corporation. To learn more about First Investors please visit us at: www.firstinvestors.com
About Foresters
For 140 years, Foresters™, an international financial services organization, has fulfilled its purpose to enhance family well-being for its members and the communities where they live. A fraternal benefit society, Foresters offers quality life insurance and investment products, unique member benefits and inspiring community activities. Foresters shares its financial strength with more than one million members in Canada, the United States and the United Kingdom. Foresters has assets of $10.5 billion, total funds under management of $25 billion and a surplus of $1.7 billion (all figures in Canadian dollars as of December 31, 2013) and maintains an "A" (Excellent) rating by A.M. Best1. Foresters subsidiary Foresters Life Insurance Company's rating is "A-" and First Investors Life Insurance Company, also a Foresters subsidiary, received an "A-" rating. For more information, visit foresters.com.
Foresters™ is the trade name and a trademark of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for The Independent Order of Foresters (Foresters) and its subsidiaries Foresters Life Insurance Company and First Investors Life Insurance Company on July 2, 2014, A.M. Best stated that the outlook for all ratings is "stable", which means they are unlikely to change in the near future. See ambest.com for the latest ratings.
SOURCE First Investors Corporation
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