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Home > Health Insurance > Life Insurance > First Colony Life
First Colony Life
First Colony Life is a Genworth Financial company committed to providing high quality, competitive insurance and annuities designed to help you build, protect and transfer wealth. First Colony Life is licensed in every state in New York through its subsidiary, American Mayflower Life Insurance Company of New York and Bermuda.
Genworth Financial offers insurance and financial professionals the support they need so they can focus on what they do best help their clients. They provide you with the tools and materials to make it easy for your clients to understand what they're buying. Life insurance isn't just for you. It's for those who depend on you most. With the right planning, you can ensure that your loved ones will have the financial resources to go on living their dreams when you can no longer provide for them.
Death benefits received by your family might be used to provide adequate income for the family, pay off the mortgage on the family home, cover final expenses such as medical bills, and ensure that your children are able to go to college. Term life insurance is the most economical type of life insurance. It provides death benefit coverage at a guaranteed premium for a specific period of time usually five to 30 years depending upon which product you choose. At the end of the term, the coverage ends or the policyholder may have the option of continuing the death benefit coverage at an increased premium. Typically, term insurance does not provide the policyholder the ability to accumulate cash value.
Variable universal life insurance provides the same type of flexibility as a fixed universal life insurance policy. Premium amounts, payment schedules and death benefit options are all choices of the policyholder. The key difference between fixed and variable universal life insurance is that the owner of a variable policy chooses where premium amounts will be invested. Typically, variable universal life insurance policies offer a wide variety of underlying portfolios. The policy's cash value is determined by the amount of premiums paid into the policy and the investment results of the portfolios.
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