Other Investments

Life Insurance


Life Insurance

There are basically two types of life insurance: permanent (cash value) and term insurance. When you buy term insurance, you are simply paying for a death benefit that goes to your beneficiary. When you buy any type of cash value life insurance, you also accumulate savings that you can use during your lifetime. The three basic types of cash value life insurance are whole life, universal life, and variable (universal) life.

Some consider the cash value portion of the insurance as a savings or investment for the future, perhaps to supplement their retirement income. Those who need substantial amount of life insurance are better served by buying term insurance because those premium dollars go a lot farther—you get a substantially larger death benefit with term insurance. Because term insurance is more affordable, particularly for younger people, you shouldn't have to worry about being underinsured.

Cash value insurance, however, can be useful if you're planning to keep your life insurance throughout retirement, when term insurance gets to be prohibitively expensive. Certain cash-value policies, such as universal life with its flexible premiums, can also be useful for those who are highly "rated." (A rated policy causes the premium to go up because of increased chances of death due to an illness or occupation/avocation hazard). For more information on this topic, see the section on Life Insurance.


Deposit and Loan Products are offered to qualified customers by EVB. See specific deposit and loan product pages on this website for more detailed information. EVB is a MEMBER FDIC and an EQUAL HOUSING LENDER.

Investment and Insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. EVB Investments is a trade name of the bank. Infinex and the bank are not affiliated. Products and services made available through Infinex are:

Investment and Insurance Products referenced on these pages

  • • Not insured by the FDIC or any other agency of the United States
  • • Not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate
  • • Subject to investment risk, including the possible loss of value