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WHOLE LIFE VS. TERM LIFE
Catholic Union of Texas, The KJT offers various whole life and term life plans as well as optional riders that can be used to enhance the policy.
Whole Life
Life insurance designed to provide coverage for the lifetime of the insured, generally with level premiums and with cash values. Coverage remains in effect up to age 100 as long as the premium payments are kept current.
ADVANTAGES
- Protection for life as long as premiums are current
- Living benefits
- Cash values can be borrowed against
- Cash values can be used to pay premium
- Non-forfeiture options
- Policy can be surrendered for cash value if coverage is no longer necessary
- Extended term insurance - can convert policy to term plan to expire when reserves of policy reach zero
- Reduced paid up - can use the cash value to convert to a reduced single premium policy
DISADVANTAGES
- Higher cost makes it difficult to afford the amount of protection needed
CLICK HERE FOR OUR WHOLE LIFE PORTFOLIO
Term Life
Life insurance protection that provides coverage for a set period of time. Term insurance provides a death benefit only if death of the insured occurs during the term of the certificate. KJT term plans are renewable after the initial time period expires if age permits and are convertible to a permanent plan of insurance without proving insurability up to age 70.
ADVANTAGES
- Protection for chosen policy term
- Affordable premiums to fit most budgets
- Useful to insure life's major liabilities (home, auto, college tuition, income replacement, etc.)
- Convertible to a permanent plan of insurance without proving insurability
DISADVANTAGES
- Premiums are not guaranteed
- No cash value or loan value
- Coverage will eventually terminate
- Term renewals may become too expensive
CLICK HERE FOR OUR TERM LIFE PORTFOLIO
Optional Riders
Additional coverages that can be attached to your whole life or term life policy to enhance the policy.
CLICK HERE TO LEARN MORE ABOUT OUR OPTIONAL RIDERS
KJT LIFE INSURANCE AND ANNUITY PRODUCTS ARE ONLY AVAILABLE IN THE STATE OF TEXAS
Click Here for your initial premium installment.