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FIC Insurance Group - Life Insurance

About FIC Insurance Group

The FIC Insurance Group Promise
...Life insurance is a promise that at some point in time a company will provide a benefit or source of income to an insured's beneficiary. FIC Insurance Group believe the promise is much more than that. It's a promise to continually innovate. It's a promise to be there, no matter what happens. The financial strength and integrity of their company is an important consideration. As you explore, you will find a company whose characteristics reflect a dedication to maintaining a financially solid company, meeting your insurance needs and upholding traditional family values. FIC Insurance Group not only believe in promises, they believe "promises are made to keep."

Their Belief
...FIC Insurance Group believe in the service they provide families. They believe in the inherent need for people to embrace life. FIC Insurance Group believe in the human spirit and in treating their customers, agents, shareholders and employees with respect. They fully accept responsibility for helping people ensure their futures and their peace of mind.

Our History
...FIC Insurance Group has a long history of exceptional leadership and financial strength that started more than three decades ago. As a young educator and basketball coach from a small South Texas town, Roy Mitte ventured into the life insurance industry. It wasn't long before Roy decided to start his own insurance operation, which was the birth of Financial Industries Corporation (FIC). His philosophy was to surround himself with dynamic, hard-working people, keep costs low and maintain a conservative investment philosophy that allows for steady, profitable growth. In less than 15 years, consolidated assets grew from $13 million to over $1 billion. As Chairman, CEO and President, Roy Mitte has established FIC Insurance Group as a leader in financial services.


FIC Insurance Group Products

Purchasing life insurance or annuities can be a challenging adventure. Unlike a car or computer, insurance is not tangible. You can't touch it or feel it. You can't even test it to see if it works. But come the time when you need it, it will be there for you. Whether life insurance or annuities, it is important to understand the options available to you and which products fit your needs best.

Essentially, there are two types of life insurance: term and permanent. Term insurance provides protection for a specified period of time while permanent insurance protects you for a lifetime. In addition, there are three types of fixed annuity products: single premium, flexible premium or immediate. Each product is designed for different people during different points on their journey through life.


Term Products

Term insurance provides protection for a specified period of time and only pays a benefit if you die during that time. Most term products have level premiums during the initial period of protection and then offer a chance to renew at a higher cost. Purchasing term insurance is similar to renting an apartment, rather than buying a home.

Advantages:

  • Initially, premiums tend to be more affordable than permanent coverage. This allows some people to purchase more protection for less money.
  • Great for covering short-term needs such as cars, loans, mortgages, etc.
  • Usually features renewal and conversion options.

Disadvantages:

  • Premiums will increase as you grow older.
  • Depending on the term and your age, coverage could be very expensive to continue in later years.
  • No cash accumulation or equity build-up.
  • Limited flexibility.

FIC Insurance Group offers a variety of term products through thier life insurance companies (products may vary by state). Please complete the information request form titled How Can We Help You Today to request additional information on any of FIC Insurance Group products.


FIC Insurance Group - Permanent Products

Permanent insurance provides protection for a lifetime, as long as you pay the necessary premiums. The death benefit protection will always be there when needed most. Permanent policies, such as universal life, provide cash value accumulation on a tax deferred basis. Funds accumulate in a "cash value" account by applying a current interest rate to a portion of the premium you pay and any accumulated amounts. You access the cash value account through loans, withdrawals or by surrendering the policy. Many people use these funds for education, retirement and emergencies.

Another added benefit of permanent protection is flexibility. With universal life and other interest sensitive products, you have the ability to adjust payment and protection levels. This flexibility can play an important role as your needs change.

Advantages:

  • Protection is guaranteed for a lifetime as long as the necessary premiums are paid.
  • Flexible to meet changing needs.
  • Cash value accumulation account that can be used for many needs.
  • Loans or withdrawals can be taken from the cash value account.
  • Tax-deferred growth.

Disadvantages:

  • Initially costs more than term insurance.
  • Higher premiums may make it difficult to purchase enough protection.

"FIC Insurance Group offers a variety of permanent products through our life insurance (products may vary by state). Please complete the information request form titled How Can We Help You Today to request additional information on any of our products."




River Place Pointe,
6500 River Place Blvd.,
Austin,
Texas 78730

http://www.ficgroup.com

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