| Aronow Insurance Agency, Inc. |
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| Aronow Insurance Agency, Inc. 3416 Olandwood Court, #209, Olney, MD 20832 Phone: 301-774-0175 Fax: 301-774-2099 |
Explanation of Coverage
We understand that choosing the right insurance policy can be a confusing process.
We can help you determine which insurance products best fit your individual needs,
by providing home, life, auto and commercial insurance.
LIFE INSURANCE:
Life insurance provides a monetary benefit for beneficiaries in the event of the
insured person's death. While this is the primary purpose of life insurance, it offers
other valuable advantages, including the tax-free internal buildup of cash value.
Whole Life insurance is also called ordinary life insurance. This type of policy
develops cash value and it is based on the assumption that premiums will be paid
by the policy owner throughout the insured¹s lifetime. Whole Life policies have a fixed
guaranteed rate and develop guaranteed cash values.
Universal Life insurance is a very flexible type of life insurance policy. It allows a
policy owner to adjust the death benefit or its cash value, depending on the needs of
the policy owner. It combines term insurance protection with the cash savings value
of whole life insurance.
Term life insurance is a policy that provides protection for a limited number of years,
usually one to thirty. The policy will only pay out if the insured passes away during the
term that the policy is in force. Term insurance has no cash savings value and is
basically temporary insurance. Some policies can be automatically renewed at the
end of the coverage period, and some policies can be converted to permanent
insurance without a medical exam being needed.
We can help you determine which insurance products best fit your individual needs,
by providing home, life, auto and commercial insurance.
LIFE INSURANCE:
Life insurance provides a monetary benefit for beneficiaries in the event of the
insured person's death. While this is the primary purpose of life insurance, it offers
other valuable advantages, including the tax-free internal buildup of cash value.
Whole Life insurance is also called ordinary life insurance. This type of policy
develops cash value and it is based on the assumption that premiums will be paid
by the policy owner throughout the insured¹s lifetime. Whole Life policies have a fixed
guaranteed rate and develop guaranteed cash values.
Universal Life insurance is a very flexible type of life insurance policy. It allows a
policy owner to adjust the death benefit or its cash value, depending on the needs of
the policy owner. It combines term insurance protection with the cash savings value
of whole life insurance.
Term life insurance is a policy that provides protection for a limited number of years,
usually one to thirty. The policy will only pay out if the insured passes away during the
term that the policy is in force. Term insurance has no cash savings value and is
basically temporary insurance. Some policies can be automatically renewed at the
end of the coverage period, and some policies can be converted to permanent
insurance without a medical exam being needed.
