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  • Whole Life Insurance
  • Term Life Insurance

Whole Life Insurance

There is more than one way to protect your family’s financial future upon your death. LGFCU makes available whole life insurance protection to help assure the well-being of your loved ones.

Whole Life Insurance provides coverage for your lifetime. It also accumulates a cash value—accessible in the form of loans or withdrawals—and can serve as a future source of money as well as life insurance protection. Your death benefit will never decrease and premiums will never increase as long as your policy remains active.

Regardless of your family’s needs, Whole Life coverage can be a beneficial option:

  • Array of products available to meet members’ of all ages needs
  • Lifetime protection with benefits that never decrease as you age
  • Tax-free death benefit
  • Provides immediate coverage, with full benefits upon approval
  • Policy accumulates cash value over time
  • Rates never increase as long as you maintain your policy

Term Life Insurance

Help protect your family’s quality of life in the event of your untimely death. LGFCU now makes available more choices for term life insurance to provide your loved ones with the resources they may need to pay off outstanding medical, funeral or other debt when you no longer can.

Term life insurance is available for a specified period of time—one, five, 10, 15, 20 or 30 years. It is offered as either a level death benefit (one that remains the same throughout the policy period), or a decreasing death benefit (which decreases, typically on an annual basis).

Other features of term life insurance include:

  • Affordable rates
  • Continuous coverage until the end of the desired term as long as the premium is paid. Many policies have provisions for renewal after the initial period.
  • Option to convert to a whole life policy
  • Option to pay premiums through automatic deduction or monthly billing

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