Life Insurance can help protect your family and is an excellent way to
accumulate money for college, retirement or unplanned expenses. A person
should have life insurance that approaches six to eight times their annual gross
income. Under current laws, there is generally no federal income tax on death
benefits paid to a named beneficiary.
Using the strength and experience of our life insurance markets, we offer
affordable term life, whole life, and universal life insurance policies.
We are your local Chicago, Illinois area insurance agency, offering affordable life insurance
policy premiums in the following cities and counties: St. Charles, Geneva, Batavia, Chicago,
Lafox, Elburn, Mooseheart, De Kalb, Virgil, Maple Park, Burlington, Kaneville, Cortland,
Sycamore, Hampshire, Big Rock, Hinckley, Wasco, Lily Lake, Valley View, South Elgin, Wayne,
Aurora, Naperville, Montgomery, Warrenville, Moecherville, Winfield, Wheaton, Carol Stream,
Bartlett, Streamwood, Glen Ellyn, Lisle, Glendale Heights, Hanover Park, Elgin, Ontarioville,
Keeneyville, Bloomingdale, Medinah, Roselle, Schaumberg, Hoffman Estates, Carpentersville,
Udina, Huntley, Gilberts, West Dundee, Barrington, Cary, Palatine, Lake Zurich, Libertyville,
Wauconda, Inverness, Elk Grove Village, Itasca, Addison, Lombard, West Chicago, Villa Park,
Elmhurst, Oak Brook, Highland Hills, Downers Grove, Woodridge, Bolingbrook, Darien, Oswego,
Yorkville, Sugar Grove, Joliet, Romeoville, Algonquin, Buffalo Grove, Arlington Heights, Roling
Meadows, Mount Prospect, Des Plaines, Bensenville, Homer Glen, La Grange, Northbrook,
Skokie, Evanston, Cicero, Berwyn, Oak Lawn, Burbank, East Chicago, Waukegan, Mundelein,
Deerfield, North Chicago, Newark, Sheridan, Morris, Ottawa, Sandwich, Serena, Waterman,
Rochelle, Marengo, Oak Lawn, Englewood, Calumet Park, Roseland, Landsing, Dolton, Calumet
City, South Holland, Riverdale, Glenwood, Chicago Heights, South Shore, Burnham, Oak Forest,
Bedford Park, Hazel Crest, Alsip, Palos Hills, South Chicago Heights, Orland Park, Kane County,
McHenry County, Dupage County, Kendall County, De Kalb County, Will County, Lake County,
and Cook County, IL. We also offer life insurance services throughout the state of Illinois,
including in Moline, Rockford, Peoria, Springfield, Bloomington, Decatur, and Champaign, IL.
**The information, pictures, and other content in this website about particular insurance services is
only provided for informational purposes. Any decisions regarding your insurance needs should be
discussed with a licensed insurance agent.
Life insurance coverage for a specified length of time. A term life insurance
policy is usually purchased with a particular need in mind. Beneficiaries will
collect, usually tax free, the face value of the policy upon the insured (your)
death. Term life is attractive for those with a limited income, high short
term insurance needs, or for personal family protection.
If the insured survives the time period, the policy expires. There is no
cash value at the expiration of a term life insurance policy. Some policies
have a convertible feature permitting a policyowner to exchange a term
policy for a cash value policy without evidence of insurability.
Level Term Life Insurance Policy Features
A constant death benefit and a level premium for a specified
number of years. We offer 10, 15, 20, and 30 year terms.
Decreasing Term Life Insurance Policy Features
Has a decreasing death benefit and a level premium.
Click on the link below to fill out a secure quote request form for a
Term Life Insurance policy that will provide excellent life insurance
coverage at an affordable cost. Or you can speak with one of our Life
Insurance agent specialists toll free at (877) 232-9899 to discuss the
policy features in more detail.
Click on one below to learn more!
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The most popular choice for those seeking to cover permanent needs, such as contributing to a
survivor's nest egg, paying off final expenses, etc. Whole life insurance provides permanent,
lifelong insurance coverage. The benefit amount remains the same and is payable to the
beneficiary(s) at the time of the insured's (your) death. It also offers an opportunity to build cash
value, so you can take a loan on your policy to fund major purchases or to provide for
unexpected costs.
Whole life insurance has a fixed premium and a level death benefit to age 100. The premiums
don't increase with age, which averages the cost of the policy over your life. The cash value
increases with time until it equals the death benefit at age 100. This type of policy never has to
be renewed or converted. The cash value is an amount of money that you are guaranteed to
receive in the event of policy cancellation.
Variations of Whole Life Insurance include:
Modified Premium - lower fixed premium for the first 3 or 5 years, and then premiums
increase. These policies work well for individuals that expect to improve their financial
condition in the near future.

Graded Premium - premium increases each year for the first 5 years, and then is fixed.
1. premium costs may make it difficult to buy enough
2. need to carry a whole life policy for a considerable length of time to be very beneficial
3. cash value may be less than your face value
4. cannot vary your monthly premium payment and the premium-paying period may be lengthy
5. amount of coverage cannot be increased at a later date
Advantages of Whole Life Insurance
1. guaranteed protection for life
2. level death benefit that is generally tax-free
3. premiums do not increase in correlation with your age
4. cash may accumulate tax-deferred
Disadvantages of Whole Life Insurance
Click on the link below to fill out a secure quote request form for a Whole Life Insurance
policy that will provide excellent life insurance coverage at an affordable cost. Or you can
speak with one of our Life Insurance agent specialists toll free at (877) 232-9899 to discuss
the policy features.
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A flexible premium policy that combines protection against premature death with a savings
account that typically earns a money market rate of interest. A universal life insurance policy is a
combination of term life insurance protection with the cash savings value of whole life insurance.
Interest rates paid on the cash value are typically higher than with whole life insurance because
they tend to follow the markets.
Premiums for universal life insurance policies can be paid in a lump sum, annually, or anywhere in
between. Interest on the cash value is usually guaranteed, but will vary according to the investment
performance. Each month deductions are made from the cash value fund to support the costs of
the insurance protection. As long as the cash value is substantial enough to maintain the monthly
costs, the policy will remain in force. Typically the death benefit reduces in proportion to the
increase in cash value, thus causing a level death benefit.
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Chicago, Illinois area insurance agency
Akey Financial Services
40w 148 Campton Crossing Drive
Suite A
St. Charles, Illinois 60175
Kane County, IL
(630) 232-9811
Toll Free: 877-232-9899
Fax: (630) 232-9829
Your Illinois Insurance &
Financial Services Specialist!
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