Life insurance refers to a specified amount of capital—the death benefit—that is paid to beneficiaries upon the death of the policyholder. There are many different forms of life insurance including term life, whole life and universal life. Term life is arguably the most basic form of life insurance and is intended to provide financial protection through income replacement in the event of the premature death of the policyholder. There are also many different uses of life insurance such as income replacement, estate planning and tax planning.
Lafayette Life provides life insurance and annuity products to individuals and small businesses through multiple distribution channels. The individual product portfolio includes whole life, senior age whole life, term life, universal life, immediate annuities, and indexed universal life and annuities.
Lafayette Life Insurance specializes in fixed annuities where interest is credited on a regular basis and funds may be available at any time. Clients may be subject to possible withdrawal charges, income taxes and penalties. The plans include:
Columbus Life Insurance Company offers services in life insurance and annuities. The company's life insurance options spans across four individual plans designed to cater to different clients, while its annuities plans cover two areas.
Life Insurance Products:
The Standard specializes in insurance, investment, and retirement planning services. Under its insurance options, life insurance, accidental death and dismemberment insurance, disability, dental, vision, and annuities are offered. Specifically, the annuities provided are single premium and flexible premium. A brief description of each follows:
1) Single Premium: Single premium annuities are purchased with one, lump-sum premium payment. Some single premium annuities do accept additional premiums during a short, specified time period at the beginning of the contract.
