Life Insurance in Salt Lake City, UT

Life insurance is an excellent way to add extra security to your future. If you are interested in finding a life insurance policy, but don’t know where to begin, look to the professionals with Ascend Investment Management. Our insurance specialists who service the Salt Lake City, UT area, will answer all your questions about life insurance and help you carefully examine your needs. Knowing the differences in life insurance and understanding what works best for your life is essential when it comes to investing in a policy, so reach out today.

What is Life Insurance?

Life insurance is a contract between an insurance company and a policyholder. The policyholder pays a premium on a regular basis, and the insurance company agrees to pay a designated amount of money to the beneficiary under certain circumstances. 

Term Life Insurance

Term life insurance covers you for a set period of time and with a fixed premium that is paid over time. When this set time expires, coverage stops, and the insured party will no longer have life insurance coverage. 

A new policy can be applied for; however, they will forfeit the amount of money paid into the term life insurance policy. 

Permanent Life Insurance 

Permanent life insurance is available through Ascend Investment Management. This insurance provides death benefit coverage for the life of the person named in the policy. Permanent policies are a financial investment in addition to life insurance and accrue cash value that can be used towards disbursements. These disbursements include income to be used during retirement or emergency savings. Permanent life insurance is designed to last the duration of the policy owner’s life. Two popular options are whole life insurance and index universal life insurance, or IUL.  

Whole Life Insurance – Explained

Whole life insurance remains in force for the insured party’s lifetime, as long as the required premiums are paid, or to the policy’s maturity date. The team with Ascend Investment Management will review the details of investing in a whole life insurance policy, so you have all the knowledge you need to make an informed choice.

Indexed Universal Life Insurance

Indexed Universal Life insurance policies, or IULs, are relatively new and function like a retirement-income vehicle. IULs earning potential is tied to a financial equity index. There is some risk involved and they are more complex, which is why working with a financial planner with Ascend Investment Management is an important choice to make. IULs have more options and potentially a higher return on investment and offer the policyholder the ability to allocate a portion or all of their net premiums to a cash account once the insurance coverage and expenses are paid. 

Contact Your Personal Investment Team 

We have provided examples as a portion of the information available about life insurance. Since there are so many details about life insurance and our offerings, we recommend that you work with a member of our financial planning team. We will review your needs and individual concerns, then create a plan for your financial future and retirement. If you live or work in Salt Lake City, we invite you to reach out to our team by calling 801-386-5311. We are your local investment planning firm.