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Personal Life Insurance

Who needs life insurance?
Everyone needs life insurance. The amount and the type of life insurance you purchase will be determined by your personal circumstances and the needs and objectives that you are concerned about. The death benefit from a life insurance policy is generally received as an tax free benefit to your beneficiary, but that is only part of the story of the benefits of having life insurance.

EBA understands the importance of providing the kind and the amount of coverage needed. We will help you determine your personal and business needs and selection of the appropriate type of coverage. Our goal is to help you have peace of mind, knowing that you have protected your loved ones.


The main objective for purchasing a life insurance policy is to provide a means for your family to meet financial obligations after your death. The following lists some of the major expenses as well as other personal and the living benefits of life insurance:

Personal Bank Account & Retirement Planning Tool, l Loan Collateral:

Permanent life insurance can build cash values that can be borrowed against to pay debts or for investment and can provide tax favored retirement income.

Final expenses: Life insurance can pay for funeral expenses.

Medical bills: Life insurance cover the cost of medical attention prior to death
that is not covered by medical insurance.

Mortgage protection or rent payments: Life insurance can pay off a mortgage or
provide money to pay rent.

Educational expenses: Life insurance can provide funds needed for college or
outstanding student loans.

Debt protection: Life insurance can pay off outstanding personal debt such as credit cards and retail debt.

Income replacement: Life insurance can replace lost income that your dependents will need.

Estate creation: Permanent life insurance can provide an instant estate and build a powerful asset over time. Charitable giving: Life insurance provide funds to a charity, church, or nonprofit organization.
Estate taxes: Life insurance can be used to pay estate taxes when taxes are due.

What types of life insurance are there?

There are three basic types of life insurance contracts. Each type of life insurance has its own set options and variations and pros and cons which must be considered when deciding the best for your situation and your goals.

Here at EBA we will take the time to listen you your needs and help you understand the products so our clients can get the most out of the choices they make.

Term Life Insurance

Typically has the lowest out-of-pocket cost of all life insurance policies. The premiums for Term Life Insurance will increase at the beginning of each renewal period. The cost for Term Life Insurance can become prohibitive at older ages. It does not provide permanent coverage, but instead provides a death benefit for a specified period of time (the “term”). It will not accumulate cash value over the life of the policy contract. Term can be converted to a permanent policy in whole or in part, even if your health deteriorate.

Whole Life Insurance

Whole Life Insurance is designed for permanent coverage on the life of the insured. With a Whole Life Insurance policy, the premium is guaranteed to never increase and the death benefit is guaranteed for life. It also has a cash value component that builds guaranteed cash value that can be accessed for various needs. Whole Llife Insurance may pay dividends to policyholders. Dividends can be used to purchase additional coverage, reduce the premium, pay back loans or may be received in cash.

Universal Life Insurance

Universal Life Insurance can provide permanent coverage for the life of the insured, and also gives the policyholder a little more flexibility with respect to the timing and amount of premium payments. The cost of insurance is deducted from the policy’s cash value. Universal Life Insurance comes in two different forms: Current Assumption Universal Life Insurance and Death Benefit Guarantee Universal Life Insurance .

EBA specializes in the design and implementation of dynamic cost effective employee benefits programs for small and medium sized businesses.

Business hours:
Mon – Fri: 9AM – 7PM

Office: 703-570-1969
Mobile: 240-423-8682
Fax: 571-369-6433

EBA is a proud member of the National Association of Health Underwriters (NAHU). Continuous educations keeps us up to date on health reform and employee benefits.

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