Life Insurance

The Details

There are two basic types of life insurance:

• Term life insurance: Term life covers you for a specific period of time. It can replace your income when it's needed most—for example, when your children are young or you're paying a mortgage. Premiums on term life insurance vary and increase as you age.
  
  
• Permanent life insurance: Builds cash value that can be used as long-term savings, policy loans or to increase benefits during the life of the policy. Premium payments are usually fixed so they can't be increased by the insurer as you grow older or experience changes in your health.

Life insurance can:

• Replace your income for your dependents. If you have dependents such as children, a spouse, parents, siblings etc., life insurance can help those that depend on you financially by replacing your income should you die.
  
  
• Pay final expenses. Life insurance can help pay for your funeral and burial costs, probate, estate costs including federal and state taxes, etc.
  
  
• Provide an inheritance to your heirs. The money in your life insurance policy can be passed on to your named beneficiaries. Even if you've already provided for your heirs, life insurance can be an important source of income while you're estate is being probated.
  
  
• Pay taxes. Life insurance can help pay federal and state estate taxes. Life insurance death benefit proceeds are subject to federal and estate taxes.

Life insurance offered through WaMu Investments, Inc. is provided by our approved list of insurance carriers, and policies are backed by the claims paying ability of the issuing company.

Find an investment professional at a WaMu financial center near you for a free consultation.

WaMu Investments Insurance Agency Licenses