Life Insurance in Illinois

A life insurance policy protects you and your family from debt, funeral costs, and more. At Com-Co Insurance Agency Inc. in Mount Prospect, IL, we offer several options that clients can consider purchasing. They include but not limited to:

Whole life

This is the most straightforward permanent insurance policy. It provides life coverage as well as an investment fund. Amounts paid remain constant throughout your entire life without being affected by age or health issues. Although, a graded policy is available for those with pre-existing conditions. It pays a fixed amount upon death, and a share of premiums paid goes to investments that help to build a cash value. One can make borrowings against the cash fund with no taxation. Dividends are also given to policyholders without being taxed.

Universal life

This is also a permanent life insurance policy. It puts together term insurance with cash component that provides a benefit upon death and a money value component, and the funds grow without taxation. It allows the policyholder to decide, within specific guidelines, the amount of premium that goes towards the death benefit as well as the investment fund. The policyholder is permitted access to their cash account, and withdrawals can be made for any individual reason such as going on a vacation, paying off debt, or supplementing one's retirement benefits.

Variable life

This type of policy is also a form of permanent insurance coverage. It offers a death benefit combined with a cash component with no guarantees. This allows the policyholder to be involved in various investments such as equities.

Term life

This is a straight policy that lasts for a set period but with no investment component. An annual plan can be purchased yearly, but one may fail to qualify despite showing evidence of good health. Typical terms can last from 5-30 years.

Regardless of where you are in Illinois, Com-Co Insurance Agency Inc. in Mount Prospect, IL is always ready to help you acquire a life insurance policy that's in the best interest of you and your loved ones. Call or visit our offices to learn more about starting a policy.