Bond insurance (also known as “financial guaranty insurance”) ensures interest and principal payments are maintained on a bond or other security in the event of a payment default by the issuer.
Having the insurer’s credit rating provides a level of caliber that allows a bonded issuer to leverage business growth and minimizes the risks involved with procuring funds. This is especially true in the construction and financial industries. A bonded business can obtain unbiased criticism from a credit professional and seek advice in underwriting projects.
Some bonds we handle include, but are not limited to, the following:
Contract performance bonds
License and permit bonds
Term Life Insurance
Term life insurance provides life insurance for a specific period of time, such as 10 to 20 years. You may consider a term life insurance policy for coverage when your family’s financial needs are greatest – like when you’re paying for children’s college tuition or a mortgage. With term life insurance, your premium payment should remain the same throughout the entire period you select. After that, you can purchase continued coverage (usually at a much higher rate).
Ask your agent about specific term life insurance provisions such as:
Accelerated death benefits: Allows a terminally ill person to collect a significant portion of his or her policy’s death benefit while still alive.
Disability waiver of premium: Waives premiums when a policy owner suffers a long-term disability, typically one lasting six months or longer.
Accidental death benefits: Doubles or triples the benefit in the case of death by accidental means.
Whole Life Insurance
As the name implies, a “whole life” policy from JMI West lasts your entire lifetime. Once whole life coverage has been issued, it cannot be revoked, reduced or cancelled except in cases of non-payment or fraud. Your rates and the payout amount your beneficiaries will receive upon your death remain the same throughout the life of your policy.
The Whole Life Advantage:
Protection for life: Your policy won’t expire or decrease in value.
Flat-rate premiums: The rate you pay for your policy will never increase.
Cash value: A portion of your premium builds cash value which can be borrowed against.
Guaranteed death benefit: The amount your loved ones receive is guaranteed.