Life Insurance

Protect your family and round out your portfolio.

  • Choose from various coverage options
  • Address different needs
  • Rely on a comprehensive strategy

Life insurance plays an important role in planning your future.

Whether your goal is family protection, charitable giving, wealth accumulation, retirement planning, or estate planning, life insurance can help. We specialize in developing comprehensive life insurance strategies to help investors work toward their goals.

Flexible Life Insurance Coverage Options

Term Life Universal Life Variable Universal Life1 Whole Life
Overview A low-cost life insurance policy that provides coverage for a specified period of time (e.g., 10, 20 or 30 years) and generally pays a benefit only if the insured dies during that term

A permanent life insurance plan where premium payments are flexible and death benefits are adjustable

Policy performance based on the company's declared interest rate

A permanent plan combining the standard features of universal life policy with investment choices for your premium dollars

Policy performance based on the contributions and the performance of the investment choices

Provides a guaranteed death benefit and guaranteed tax-deferred build-up of cash value with level policy premiums

Policy performance directly related to the performance of the insurance company's dividends

Benefits
  • Highest death benefit at lowest cost
  • No surrender charges
  • Often makes sense when there is a need for coverage that will disappear at a specific point in time, e.g., a mortgage
  • Low cost
  • Lifetime protection
  • Flexible premiums
  • Death benefit guarantees available
  • Income tax-free death benefit to family
  • Withdrawals or tax-free loans available
  • Lifetime protection
  • Flexibility to change premiums
  • Income tax-free death benefit to family
  • Withdrawals or tax-free loans available*
  • Policies typically overfunded to accumulate cash value for later withdrawals
  • Lifetime protection
  • Withdrawals or tax-free loans available
  • Income tax-free death benefit to family
  • Death benefit and cash value guarantees available
Flexibility Although not considered a lifetime plan, offers some ability to convert to a permanent policy Flexibility to maintain your policy while increasing, decreasing or skipping premium payments based on changing needs Flexibility to vary premium payment and contribute additional premium dollars to the contract to increase the cash value available Ability to stop paying the premium and use the value to purchase other forms of coverage once the policy becomes self-sustaining (occurs in different years with each carrier)
Premiums

Fixed premiums for specified number of years; increased upon renewal

Non-renewable after age 75

Average cost usually lower than whole life at similar coverage amounts

Flexible premiums

Premiums on basic policy comparable to universal life

Flexible premiums

Level premiums initially higher than with term and universal life policies of similar coverage amounts

Premiums not flexible

Term Life
A low-cost life insurance policy that provides coverage for a specified period of time (e.g., 10, 20 or 30 years) and generally pays a benefit only if the insured dies during that term
Benefits
  • Highest death benefit at lowest cost
  • No surrender charges
  • Often makes sense when there is a need for coverage that will disappear at a specific point in time, e.g., a mortgage
Flexibility
Although not considered a lifetime plan, offers some ability to convert to a permanent policy
Premiums

Fixed premiums for specified number of years; increased upon renewal

Non-renewable after age 75

Universal Life

A permanent life insurance plan where premium payments are flexible and death benefits are adjustable

Policy performance based on the company's declared interest rate

Benefits
  • Low cost
  • Lifetime protection
  • Flexible premiums
  • Death benefit guarantees available
  • Income tax-free death benefit to family
  • Withdrawals or tax-free loans available
Flexibility
Flexibility to maintain your policy while increasing, decreasing or skipping premium payments based on changing needs
Premiums

Average cost usually lower than whole life at similar coverage amounts

Flexible premiums

Variable Universal Life1

A permanent plan combining the standard features of universal life policy with investment choices for your premium dollars

Policy performance based on the contributions and the performance of the investment choices

Benefits
  • Lifetime protection
  • Flexibility to change premiums
  • Income tax-free death benefit to family
  • Withdrawals or tax-free loans available*
  • Policies typically overfunded to accumulate cash value for later withdrawals
Flexibility
Flexibility to vary premium payment and contribute additional premium dollars to the contract to increase the cash value available
Premiums

Premiums on basic policy comparable to universal life

Flexible premiums

Whole Life

Provides a guaranteed death benefit and guaranteed tax-deferred build-up of cash value with level policy premiums

Policy performance directly related to the performance of the insurance company's dividends

Benefits
  • Lifetime protection
  • Withdrawals or tax-free loans available
  • Income tax-free death benefit to family
  • Death benefit and cash value guarantees available
Flexibility
Ability to stop paying the premium and use the value to purchase other forms of coverage once the policy becomes self-sustaining (occurs in different years with each carrier)
Premiums

Level premiums initially higher than with term and universal life policies of similar coverage amounts

Premiums not flexible

Lincoln Savings Bank is a full-service Iowa bank dedicated to local customers and communities since 1902.