Name of the Organization : M&T Bank
Type of Facility : Apply for Life Insurance
State : Maryland
Country : United States of America
Website : https://www.mtb.com/personal/Pages/Index.aspx
Apply for Life Insurance :
Apply for Permanent Life Insurance :
** Permanent life insurance is designed to offer lifetime coverage and does not expire after a pre-specified term.
Related : M&T Bank Apply for Credit Card United States of America : www.statusin.org/23850.html
** The policy remains in force as long as required premiums are paid based on contract illustration.
** Some types of policies may offer a cash value accumulation feature.
The types of permanent life insurance you may want to consider are :
Whole Life:
** Fixed premium payments, guaranteed death benefit and cash value accumulation
Universal Life :
** Flexible premiums, adjustable death benefit and in some cases cash value accumulation; can be tailored to your financial and insurance needs and changed when your circumstances change, without having to buy a new policy.
Variable Life :
** Death benefit and cash value can increase over time if underlying policy investments perform well; policy owner can choose from sub accounts that offer varying degrees of risk.
Single Premium Life: Entire premium is paid at purchase (no future premium payments); some policies may offer cash value accumulation or guaranteed premiums.
** May be used for asset or wealth transfer purposes.
Benefits of a Permanent Life Insurance Policy :
Permanent Life Insurance may offer the following advantages:
** The option to build cash value tax-deferred and death benefits paid to the beneficiaries are income tax-free to the beneficiaries
** If properly structured, life insurance policies may be excluded from your taxable estate
** Designed to offer lifetime coverage; the policy remains in force as long as premiums are paid or there is adequate value in the policy to continue paying the cost of insurance
** The younger and healthier you are when you purchase your policy, the lower the annual premium may be
** Some policies offer riders or options that provide additional benefits, such as Long Term Care coverage
Common Uses of Permanent Life Insurance :
Permanent Life Insurance may be used to help :
** Fund the living expenses of surviving family
** Ensure your family is able to keep your home and other assets
** Fund estate planning
** If needed, you can use your policy as collateral for a loan or if it has a cash value accumulation feature you can borrow against the cash value.*
Apply for Term Life Insurance :
** Term life insurance provides death benefit protection for a specified period of time.
** Proceeds are payable to a beneficiary at the death of the insured, provided the death occurs within a specified period such as 5 or 10 years.
** Term life insurance is typically the least expensive type of life insurance as it covers a shorter period of time (i.e. from 1 to as many as 30 years) and does not include any cash value at the end of the term.
** Term life insurance guarantees rates and coverage for an initial period.
** To remain covered beyond the initial contract you may need to sign a new application and pay an increase in premium.
** Since term policy premiums are based on the likelihood of your death, the cost of insurance increases as you get older.
** Term life insurance does not offer cash value, but can often be converted to “permanent” insurance, which can provide lifetime protection and build cash values.
Term Life Insurance Features :
Here are a few of the features and benefits associated with term life insurance :
** Term insurance can be used on its own or to supplement a permanent life insurance policy and provide additional coverage
** Term Life Insurance is available in 1, 5, 10, 15, 20, and 30-year terms
** Think of term life insurance as “renting” your life insurance coverage, if you are interesting in “owning” life insurance, a permanent life insurance solution may be a better fit for you
** Certain riders (or options) can be attached to term life insurance policies which enhance the basic coverage offered under the policy
** Some policies offer you a return of premium option which allows you to receive a portion of your premium back if you surrender your policy
** Your beneficiary will be paid the face value of the policy if death occurs before the term expires
Common Uses of Term Life Insurance :
Term life insurance policies can be used to help :
** Ensure that your children can attend college or that family living expenses are paid
** Cover new debt (such as a home equity line of credit, a home mortgage or a car loan)
** Avoid leaving a burden of debt on your loved ones if you die
** You may also want to consider Credit Life & Disability Insurance, which is a type of life insurance designed to cover specific debt.
Contact Us :
** Want to request an insurance quote? “Get Started” on securing your permanent life insurance policy personal or business needs online, or call us at 1-800-724-9949 to schedule an appointment with one of our life insurance representatives.
** You can also stop by your nearest M&T branch to learn more.
Contact Address :
M&T Bank
P.O. Box 62986
Baltimore, MD 21264-2986