Lott Insurance Agency • 15580 East Rice Place • Aurora, CO 80015
303.680.3512 • 720.300.6275 • E-Mail: mlott@lottagency.com
303.680.3512 • 720.300.6275
Lott Insurance Agency
Lott Insurance Agency
15580 East Rice Place
Aurora, CO 80015
303.680.3512
720.300.6275
Life insurance covers your family's needs in the event of your death, from funeral expenses to ongoing financial requirements. There are several types of life insurance that offer different coverage and payment options. We can help you plan a life insurance program that fits your needs and meets your goals. We offer a variety of policies for you to choose from:
Term Insurance
Term insurance provides coverage for a specific period of time. It pays a benefit only if you die during the term. Some term insurance policies can be renewed when you reach the end of the specific period. Others give you the ability to reenter. The premium rates increase at each renewal date or each reentry. Many policies require that evidence of insurability be furnished at reentry for you to qualify for the lowest available rates.
Whole Life Insurance
This is the most common type of permanent insurance. The premiums for a whole life policy must be paid as scheduled in the amount indicated in the policy. These premium amounts remain constant over the life of the policy. The death benefit and cash value are guaranteed as stated in the policy if premiums are paid when due and there are no loans or withdrawals outstanding at the insured's death. Quite often dividends may be credited to this type of policy.
Universal Life Insurance
This variation of permanent insurance allows you, after your initial premium payment, to pay premiums at any time, in virtually any amount, subject to certain minimums and maximums. You can also increase or reduce the amount of the death benefit more easily than under a traditional whole life policy. Typically, current interest rates are credited to the cash value in this type of policy.
