Hierarchy of Insurance Needs

Maintaining one's health is the most basic necessity for each individual. This makes health insurance the most important insurance coverage for everyone.

As we get older, we acquire possessions. As the possessions increase, so do the associated risks and liabilities. Property, Liability, and Life insurance help mitigate those risks:

• For property owned personally or through a business
• Government-mandated and optional commercial coverage
• Life insurance use for business partnerships.

Life insurance offers multiple Living Benefits to the insured while they are alive:

• Diversify investments
• Finance retirement
• Pay for terminal illness treatment

Death is inevitable and everyone should have a plan for who will pay for their final expenses. Will the money come from personal savings of the deceased, from family, friends, or life insurance.

Upon your death, the death benefit of life insurance is distributed to the designated beneficiaries.

If the Living Benefit was used prior to death, the spent sum is deducted from the Death Benefit prior to the payout.