Life Insurance Services | Kaper Insurance Group

SERVICES

Term Insurance

Term insurance is a policy that is limited to a specific "term" or period of time between 1 to 30 years. If one dies during this term, the "benefit", or face amount of the policy, is paid to a designated "beneficiary" and can be used for anything the beneficiary chooses including funeral expenses, future education costs, or other outstanding debts.

Features of this type of policy include...

EXPIRATION at the end of the designated term
LOW MONTHLY PREMIUMS
PREMIUM WILL REMAIN THE SAME during the designated term; however, it will increase when the policy is renewed
NO MEDICAL EXAM, in most cases
NO CASH VALUE

Mortgage Insurance

Mortgage Life insurance is a policy that pays off mortgage debt when one dies. It's term coincides with the length of the mortgage loan. The "benefit" decreases with time to match the declining principal amount of the mortgage loan. The "beneficiary" of this type of policy is the mortgage holder (i.e. the bank who originated the loan).

Features of this type of policy include...

EXPIRES upon payoff of mortgage loan
PREMIUM WILL REMAIN THE SAME
NO MEDICAL EXAM, in most cases
NO CASH VALUE

Final Expense Insurance

Final Expense insurance is a whole life insurance policy. The "benefit", or face amount of the policy, is paid to a designated "beneficiary" upon one's death. This amount is typically used to pay for funeral expenses, outstanding medical bills, or provide a gift of cash. While the average cost for a traditional funeral in Maine now exceeds $8,600*, inflation will increase these costs to over $30,000 by 2050!