First Colony Life Insurance

Written by Genevieve Hawkins
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If you are looking for life insurance and are not sure where to go, one engaging company might be able to help you out. First Colony Life Insurance is a subsidiary of GE Financial. Its main office is located in Lynchburg, Virginia, and it is designed to handle all of your financial needs. Between this and its parent company, there will be little problem finding what you are looking for.

Life Insurance from First Colony

As a subsidiary of a very large conglomeration, First Colony Life is a good company to choose to business with, as they have a solid backing. General Electric financial services offers all types of life insurance needs--such as variable, term, whole life, universal, and survivorship. Furthermore, there are several different types of payment options for life insurance policies.

Payments for life insurance can be made in any variety of ways. There are monthly or variable payments, which fluctuate based on current mortality risk. This is the most common kind quoted on websites, usually for variable term monthly payment. Beyond this, there is immediate settlement, in which all of the cash for the policy is paid up front, and structured, which is based on a set schedule. There is also a fixed deferred payment plan, which demands higher payments at first and a lower rate later on in the policy.

As mortality increases with age, there is always going to be a higher rate for the longer the policy runs. As a consequence of this, there are several payment options that look more expensive at first but actually cover the more burdensome costs later on. With some knowledge and sound advice, it is not that difficult to work out a viable rate plan with a reputable company.


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