Serving Loan, Mortgage
and Insurance Needs
in the Following Areas:
Canton, North Canton,
Massillon, Louisville, Alliance,
Akron and all of Ohio.
Pioneer Financial Services, inc.
Permanent Life Insurance
Group Insurance Benefits • Health & HSA Insurance • Term Life Insurance • Permanent Life Insurance • Disability Income Insurance • Long Term Care •
Permanent Insurance falls into two categories: Whole and Universal.
Whole life insurance is permanent insurance protection where you purchase a specific amount or face amount of insurance. The premium will accumulate a cash value based upon the success of the insurance company. Most insurance companies will will offer you a guaranteed rate of growth on the cash value. Other insurance companies will give you a guaranteed rate with an added dividend.
Universal life insurance is similar to whole, but it offers protection that allows you flexibility with your face amount or death benefit. What this means is that if you desire to increase the face value, you can. However, your premium will go up. It also features a cash value that will grow tax deferred over the life of the contract.
Do not count on Whole Life or Universal Life insurance to be used as investment vehicles. But use them to cover funeral costs, income for surviving family members, and debt.
Call today or contact us to receive your insurance quote!