Whether you are seeking the simplicity and value of term life insurance or the lifelong protection and cash value of permanent insurance, or a combination product, Monarch offers the products & guidance you require.
Term Life Insurance
Term life insurance through Monarch offer simple, affordable coverage for a defined period of time. It is the most straightforward coverage available: you pay monthly or annual premiums for a defined period of time and receive protection for that term period.
For a family with children focusing on growing wealth, term life insurance offers affordable protection during the vulnerable years before enough wealth has been accumulated and debts paid off.
With coverage from 10 to 30 years, term life is appropriate for short term coverage needs and offers a guaranteed death benefit provided premiums are paid. Due to the lower premiums and shorter coverage, term policies do not offer flexible premiums, dividends, or cash value investing within the policy.
Permanent life insurance through Monarch offers lifelong coverage with built-in cash value and investing within the product. While more complex and with a variety of options, it does offer permanent coverage and a guaranteed death benefit for families whose situation requires it.
Unlike term life insurance, permanent life insurance options such as whole life offer cash value which grows within the insurance plan tax deferred to use for a loss of income, mortgage costs or educational needs.
Permanent life insurance plans also offer a yearly dividend, many plans have paid one consistently for decades.
Combination life insurance through Monarch offers features from both term and permanent life plans. This protection plan is uniquely yours offering a customized proportion of term and permanent protection with varying premiums depending on the proportion.
Combination can allow you to build cash value tax deferred while saving on premiums with term coverage. This type of setup is ideal for families that wish to have a base layer of lifelong coverage with increased term coverage during the growing stages of family life and wealth accumulation.