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How it works.

It's a sad fact: Everyone dies.

International Life Insurance policies are designed to provide for your loved ones when it happens to you. You enter into a contract with an insurance company whereby you pay an annual fee (the Premium) to the insurance company. In exchange, they guarantee to pay a specified amount of money (the Benefit) to the people or institutions you choose (the Beneficiaries).

Insurance companies consider a wide range of factors to determine the premiums they charge you, including your age, gender, medical history, tobacco use, the size of the benefit you request, and the type of policy selected. All of this information is compared to existing statistical data and run through sophisticated actuarial programs to determine the appropriate premium.

Many people choose to carry international life insurance to financially protect their families from sudden and unexpected fatalities. You should seriously consider owning life insurance if you are married, have children or others who depend on you for financial security, or own a business. (See Business Insurance in our FAQs section.)

Global Insurance Consultants offers access to the 3 most popular types of U.S. life insurance today: term life, universal life, and variable universal life.

We are happy to provide you with a brief description of each, but we strongly recommend that you speak with an experienced insurance advisor to determine which type of insurance is right for you. Please contact us so that we may help you with these decisions, and if you would like to speak personally with an experienced advisor, we would be happy to put you in contact with one of our local affiliates.

Term Life Insurance:

Term life insurance is the easiest of all the policies to understand and use, and yet it has created something of a revolution in the insurance industry in the U.S. When you purchase term life, you receive coverage for a limited time or "term". The term might be until children are grown, the college educations are paid, you become retired,etc. At the end of the term, your coverage ceases.
For that reason, young families with large financial obligations usually find term insurance to be the right "fit" for them.Term is always the most affordable type of coverage, for that reason, young families with large financial obligations usually find term insurance to be the right "fit" for them.

Universal Life Insurance:

Provides permanent life insurance coverage for your beneficiaries, while also accumulating savings, known as “cash value” within the same plan. The savings earn a conservative, guaranteed interest rate paid by the insurance company. This type of plan offers greater flexibility, since one can borrow or withdraw from the accumulated cash value, while the insured is still alive. Also, one can easily change the amount paid in premiums, as well as the coverage amount, or “death benefit”, if needed.

Variable Universal Life:

Provides permanent life insurance coverage and builds cash value. The chief advantage with variable universal life is that the insured can decide how the cash value is invested, among a variety of mutual funds in a diversified portfolio, designed to meet the specific goals and risk tolerance of the insured. Although more aggressive than the traditional Universal Life, this plan also gives the insured an opportunity to build the cash value in the plan at a much faster rate. Again, the insured can borrow or withdraw cash value from the plan.

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Major Advantages of Each Type of Life Insurance:

Term Life-lowest cost, simplicity.
Universal Life-flexibility, cash build-up, permanent coverage
Variable Universal Life-flexibility, aggressive cash build-up, permanent coverage, lower cost than Universal

Since every family has slightly different needs, we strongly recommend that you contact an experienced Advisor before attempting to choose a plan on your own. Please contact us so that we can help you find the right plan for you, and if you prefer, we can introduce you to one of our experienced affiliates in your area who will take you through the process personally. Whether you come to us directly, or through one of our local affiliates, Global Insurance Consultants will show you how a properly structured Life Insurance plan can:

 

What about taxes?

In all of the insurance plans available through Global Insurance Consultants, 100% of the death benefits are free from U.S. and local taxation. If you would like, please contact us for more details regarding this issue.

For more details on the specific coverage offered through Global Insurance Consultants, please refer to the companies we represent:

CNA
Americo 
Lincoln Benefit Life
Pan-American Life