Available in all 50 states
Available in all 50 states
Whatever your situation, Bankers Insurance provides life insurance options to suit. We will help determine how much coverage you need, obtain quotes, and present your best options. All services are at no cost or obligation.
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At Bankers Insurance, the client is always in control.
Each of our clients is an individual, with different insurance needs. We listen to you and quote only what you want. We are contracted with the top insurance carriers and offer the best rates for Term, Universal, and Whole Life Insurance. We present only your best options, many of which are not available from online quoting sites. Don’t go through the headache of shopping your life insurance yourself – that is why you have us as an independent insurance agent.
Term life insurance exists for a specific period of time, and only while payments continue to be made. Thus it is considered temporary insurance and is usually purchased for a specific purpose, such as to pay off a mortgage or other debts in the event of death. Read more below.
Permanent life insurance is structured to exist up until death. It can be purchased in payments or by lump sum. Many types of this insurance exist and, due to its permanent nature, is more costly than term. Read more below.
Term Insurance can be loosely compared to auto insurance. It is for a specific period of time only – 10, 20, 30, or 35 years in most cases. Payments do not change or increase while coverage is in place. As long as the insurance premiums are paid, coverage is in place. When this life insurance coverage is no longer desired, simply stop paying the premiums or cancel the policy.
Universal Life Insurance is a type of permanent life insurance. As long as you continue to pay the premiums, it will always be in effect. It provides more flexibility than term in several ways.
Universal has the ability to build cash value in the policy. All premium payments that are above the cost of insurance are credited to the cash value in the policy. That means that it can be structured to be “paid up” after a certain period of time. The cash value earns interest on a tax deferred basis and the death benefit is left to loved ones tax free. The policy owner can also borrow money from the cash value of the policy if needed. These loans, if not paid back, are simply reduced from the death benefit at the time of the insured’s death.
With this type of life insurance, the policy owner may choose a flexible premium to meet their budget and/or choose a flexible death benefit which may be increased or decreased as desired. In general, universal life is more expensive than term, more flexible than term, and less expensive than whole life.
Fixed Index Universal Life (FIUL) is a specific kind of universal life insurance. It provides death benefit protection, but it accumulates cash value based on positive changes in an external index (S&P 500, for example). That gives it greater accumulation potential than traditional universal life. A cash value floor is built-in to ensure it will not decrease due to market volatility. Thus, when the market goes up, the cash value increases. When the market goes down, the cash value stays flat. With FIUL the cash value is not directly invested in the market.
Whole Life is also a form of permanent life insurance and tends to be the most expensive. It is similar to universal life but is less flexible. The premiums do not change and it provides a guaranteed interest rate on the cash value. With recent developments to universal life, whole life has become a less attractive option. However, in some circumstances it is still the right choice. Please Contact Us for details and information.
Anyone can be an order-taker. Bankers Insurance is different.
We offer choices and expertise. We don’t expect clients to be life insurance experts. Take advantage of our expertise. We can explain your options and help you determine the right coverages.
As your insurance agent, we strive to know you. Only then can suggest the coverage that suits your specific needs. We look for coverage gaps to help ensure complete protection. With us, you get the benefit of:
Each one of our clients is assigned a specific insurance agent in our office. You will have the phone number that rings on their desk. And each agent has a backup in case they are out for any reason. Though any one of our agents can help, nothing beats speaking with the person familiar with your account.
Bankers Insurance is local. Our agents live in the local community. No one enjoys talking to an 800 number or exchanging email when in urgent need of service or if a claim has arisen.
We serve our clients with dignity and provide “no excuse” customer service.
Want to pay for your life insurance directly to the company? Monthly? By credit card? Through escrow? We can find a billing option that suits you.
Product and service are important, but with Bankers Insurance you also get low pricing. Our insurance companies compete for your business, resulting in low prices for you.
We represent “A” rated insurance carriers, verified by AM Best. Our life insurance products are designed to meet a variety of needs. We tailor insurance coverages to you.