Insurance

Another name for insurance is peace of mind

Union Savings Bank offers life insurance coverage for your family or business through SBLI of Connecticut. You'll find a knowledgeable insurance representative at any of our conveniently located branches. For more information or a free no obligation quote, call 203.830.4200 (866.872.1866 toll free) or contact us and we'll have a representative contact you.

Term Life Insurance

• Protection for a specific period of time or term
• If you die during the coverage period, the beneficiary receives the policy death benefit
• If you do not die during the term, your beneficiary does not receive any benefits

Whole Life Insurance 

• Insurance protection for you as long as you live and policy remains in force
• Builds cash values, often described as a savings account within the policy

SuperTerm Life

• Lock-in your premium rate for 10, 15, 20, 25 or even 30 years
• Rates are guaranteed not to increase during the term you select

Permanent Life
Three plans for fixed-premium permanent life coverage with tax-deferred cash value accumulation:

Straight Life Insurance – Issued through age 70. The lowest-cost fixed premium permanent life insurance.

20 Payment Life – Issued through age 55. The same benefits as Straight Life, but with a fixed premium for 20 years.

Life Paid Up at Age 65 – Issued through age 55. An economical way to complete your premium payments before retirement.

DollarWise

• Maximum cash accumulation within the account
• Competitive death benefit that passes to your heirs tax-free

Guaranteed Golden

• Available from age 50 through 75
• Hassle-free policy builds cash value
• Guaranteed acceptance, no physical exam or health questions and fixed premiums
• Policy cannot be canceled because of age

SuperEZ

• Level premium term and permanent life insurance
• No medical or lab tests

Children’s Term

• Protection up to the age of 22 for any child from 15 days through 15 years
• Guaranteed the right to convert the coverage to an SBLI life insurance policy for up to five times the original amount

Business Continuation
A Buy-Sell agreement to guarantee the continuation of a business:

Entity Purchase Arrangement – where the entity agrees to buy-out the deceased owner’s shares and purchases life insurance on the lives of each of the owners to create the liquidity to fund the buy-out.

Cross Purchase Arrangement – where the owners agree to purchase the interests of a deceased owner and each owner purchases life insurance on the lives of the other owners.

Hybrid Plan – combines elements of both of the above arrangements by allowing the business entity the option of purchasing some or all of the deceased owner’s shares and the surviving owners purchase the rest.

To learn more about Savings Bank Life Insurance services visit www.sblict.com. 

Insurance products are not FDIC insured, may lose value and have no bank guarantee.