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Life Insurance

DeWitt Risk Management Consultants are here to make sure that you have what you need before the need arises. Don't put off obtaining coverage until it's too late. Protect yourself, your family and your company right now.

Do you know your options? Are you aware of which options will best fulfill your specific needs? Have you thought of everything? If you aren't positive, remember that you can tap into our expert knowledge at any time. Get in touch with any questions or simply apply online today for the coverages you need.

Life Insurance is a contract that designates a beneficiary and an insured individual. This contract guarantees payment of the agreed upon amount to the beneficiary upon the death of the insured. The most common reasons for obtaining life insurance are to protect family and/or to protect business assets. Life Insurance's most attractive feature is that all benefits are paid to the designated beneficiary free of federal income tax as long as the transaction is handled appropriately. In some cases it can even be free of federal estate tax.

Term Life Insurance policies are designed to provide temporary protection at an affordable cost. They are particularly appropriate in the earlier years. The contract between the policy owner and the insurance company is for a specific period of time or "term." These Term Life Insurance policies deliver pure death benefit protection. They typically appeal to individuals, families and groups seeking cost-effective, temporary coverage.

Permanent Life Insurance (including Whole Life, Universal Life and Variable Universal Life) provides coverage for the entire lifetime of the insured. It remains in force until the policy matures as long as the premiums are paid as agreed. Many of these policies are designed to generate cash value that accumulates tax-deferred. This can be a savvy method of funding future premiums, supplementing retirement income, etc.