Banknorth Investment GroupSkip to main content
      Search Tips
Investor Relations | About Us | Careers | Locations | Customer Service  

Insurance Planning

   Insurance Planning | Annuities

Insurance can be an essential part of your financial plan. Consider life insurance as an example. Life insurance is primarily intended to cushion the financial effects of the insured's death. Benefits can be used to fund a college education, provide retirement income for your spouse or help eliminate debts. In addition to a death benefit, certain policies permit the cash value to accumulate while deferring taxes.

We can help you make the right choice

With careful consideration of your personal objectives, we can help determine how insurance can be part of the solution to your most important financial concerns. With carriers such as Jackson National Life, American Skandia and Golden American Life, just to name a few, we can match you with the insurance carrier best suited to meet your needs.

Solutions to Consider

  • Long Term Care Insurance: A long-term care plan will cover nursing home and medical care expenses in case of an extended illness.

  • Survivorship: This is a life insurance policy that covers the lives of two people, usually a husband and wife. However, this type of policy can also cover a financial loss suffered when the second of two people die. A death benefit is paid after the death of the second insured.

  • Term Life Insurance: Term insurance is a life insurance policy that pays death benefits if the policyholder dies during a set period of time. If the policyholder survives the term of the contract, then the policy terminates and no death benefit is paid.

  • Universal Life Insurance: Universal life is a cash value life insurance policy that combines some of the features of traditional whole life (tax deferred cash buildup and death benefit) with premium and face amount flexibility.

  • Variable Life Insurance: Variable life offers the opportunity for cash accumulation by allowing part of your premium to build account value. Any growth in account value is tax-deferred.

  • Whole Life Insurance: Whole life insurance offers death protection with cash values. Traditional Whole Life provides lifetime insurance protection with guaranteed cash values, fixed premiums and death benefits as long as the policy is in force.

  • Single Premium: This is a policy with a lump sum payment required to cover the entire cost of a life insurance contract.

Contact a Representative today

Whether you're planning for retirement, funding a college education or protecting your assets, we can help.