Erie Insurance

Erie Insurance, a J. D. Power and Associates recipient, is a multi-line insurance company, offering auto, home, business and life insurance through a network of independent insurance agents. The company's geographic presence extends to 11 states and the District of Columbia; from New York to North Carolina and from Wisconsin to Tennessee. Some of the company's life insurance and retirement related products include: 1) Whole Life: Whole life insurance is the most common type of permanent insurance. The policy provides a guaranteed death benefit along with guaranteed cash values. Part of each premium payment is applied to the policy's cash value account, which grows on a tax-deferred basis. 2) Universal Life: Universal life insurance offers policy owners the flexibility to choose both the amount of insurance and the premium to be paid with a range of potential premiums. 3) Term Life: Term Life Insurance: Term life insurance coverage can meet immediate needs and may provide the opportunity to later move or convert to permanent life insurance without providing proof of health. 4) Group Life: Group Term Life is designed to cover all employees in a plan with premiums typically paid 100 percent by the employer. This is an annually renewable term policy providing a guaranteed death benefit. 5) IRAs: Traditional and Roth IRAs are offered. 6) Flexible Premium Deferred Annuity (FPDA): The FPDA allows clients to make scheduled or intermittent payments into a retirement savings plan that will be available when they need it. This plan can also be used as a non-qualified savings vehicle for retirement. 7) Single Premium Deferred Annuity (SPDA): If a client has $10,000 or more to invest, a Single Premium Deferred Annuity is the preferred choice. He/she may choose a guaranteed period of 3, 5 or 7 years. Depending on the amount of the deposit, bonus rates are available. 8) Single Premium Immediate Annuity (SPIA): The SPIA is the choice for someone who desires an immediate source of income. Income options include period certain, life annuity, life annuity with periods certain and joint and survivor annuity.