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Life Insurance Options

Life Insurance Options. Information on which option is best for you. EGR 403 Section 03 Team #6 Tewabech Alemu, Christopher Cabrera , Eric Chan , Jason Krefft, Wilson Tam. Types of Life Insurance. Term Life Insurance Universal Life Insurance Whole Life Insurance. Overview.

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Life Insurance Options

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  1. Life Insurance Options Information on which option is best for you. EGR 403 Section 03 Team #6 Tewabech Alemu, Christopher Cabrera , Eric Chan , Jason Krefft, Wilson Tam

  2. Types of Life Insurance • Term Life Insurance • Universal Life Insurance • Whole Life Insurance

  3. Overview • Term Life Insurance is the cheapest, but it builds no equity (cash value) and willgo up in price later, after the initial term. • Universal Life Insurance usually has an element of equity build-up (cash value) but does not have guaranteed forever fixed internal policy costs and those costs may vary or increase over time. • Whole Life Insurance builds up equity (cash value) and the price is agreed upon and fixed from the beginning. It will not go up later.

  4. Description • 22-25 year old male, smoker, occasional drinker

  5. Project Goal • To find information on which life insurance fits this subject’s lifestyle and financial situation. • To explain in detail what each different type of life insurance can offer an individual. • Use knowledge of materials learned in class to help make a better investment decision (compounding interest).

  6. Resources • Internet Resources -www.metlife.com -www.insurancefinder.com

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