Three Types of Life Insurance Policies

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Life Insurance

After receiving both an undergraduate degree and a doctor of jurisprudence from Chapman University, George Argyros Jr. began a career in the finance and insurance industries. George Argyros Jr. is president and CEO of Elite Financial Group, LLC, a company that offers a variety of insurance products, including life insurance policies.

Life insurance policies provide a lump-sum payment to a pre-determined beneficiary in the event of the policy holder’s death. This is also known as a death benefit. Life insurance policies come in a variety of formats, but three of the most common types are whole, universal, and term.

Both universal and whole life insurance offer lifetime coverage. Whole life insurance premiums are typically fixed and whole life has a cash value, so it provides a tax-deferred savings opportunity for the policy holder. Universal life insurance premiums are variable, depending on the needs of the policy holder and the amount of coverage desired at the time. Universal also offers a tax-deferred savings opportunity for the policy holder.

Term life insurance policies provide protection for the policy holder for a guaranteed premium and a specified amount of time. If the policy holder dies during this time, the beneficiary receives a lump-sum payment. If not, the policy can be renewed, but the premium generally increases.


Understanding Life Insurance Products

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Life Insurance Types

George Argyros Jr. is the chief executive officer of Elite Financial Group, LLC; Leveraged Life, Inc.; and the Argyros Group. Under the leadership of George Argyros Jr., these companies provide consumer financial services and products such as life insurance.

Types of life insurance products include term life, whole life, and guarantee universal, and index universal. Each product provides coverage for loss of life, but the terms and conditions differ. These differences may make one type of insurance preferable over another to a person seeking coverage.

The first difference to note is duration. Term life insurance protects covered parties for a specified period of time, such as 10 years. Individuals must reapply for coverage at the end of the term, at which time the terms, pricing, and eligibility requirements could change. On the other hand, barring exceptions such as lapses due to non-payment, whole life insurance protects covered parties for life. For this reason, whole life is sometimes referred to as permanent life insurance.

Something else to consider is whether a policy builds cash value over time. Some policies, such as index universal life insurance, build value over time against which a policyholder can borrow. Products such as guarantee universal life insurance or term life insurance may not build this value.

There are other aspects of policies to consider, and product terms will vary from provider to provider. However, features like duration and potential cash value may help individuals determine what type of life insurance policy best fits their needs.

Three Factors Involved in Starting a Holding Company

George Argyros Jr.’s executive experience ranges from insurance and investment to professional sports teams. President of Elite Financial Group, George Argyros Jr. leverages his background to lead the California holding company, a firm he founded in 2003.

If you want to establish a holding company, keep these factors in mind:

Know where you want to invest – Focusing on markets you specifically have knowledge in is an ideal place to begin. However, you may also want to consider sectors projected to have tremendous growth, as well as firms that could benefit from combining resources and reducing overhead, thereby making a more profitable entity.

Define your acquisition strategy – As a holding company, your goal is to gain majority interest in several businesses. Make certain you are aware of how much you want to grow over the coming years and what that entails. Any expenditures determine how your company will make future acquisitions.

Find equity partners – Having the backing of equity partners gives businesses you intend to acquire assurance that the transaction can be completed. Before an equity partner agrees to offer financial resources, they will ask to review your business plan, so be prepared to present one.

Supporting the Pediatric Cancer Research Foundation

Throughout his career as the president of Elite Financial Group, LLC, George Argyros Jr. has supported a broad range of charitable organizations in his community and beyond. George Argyros Jr. regularly contributes to the Pediatric Cancer Research Foundation (PCRF), a national nonprofit organization dedicated to curing childhood cancers. PCRF relies on the support of its extensive donor and volunteer network, which provides financial support and manpower for the organization’s many initiatives.

PCRF welcomes donations of all sizes, which can occur as one-time or recurring gifts. Many donors take advantage of employer donation matching programs, which can have a tremendous impact on the funding provided to nonprofits of all types. In addition to making financial contributions, individuals can volunteer their time and spirit in support of children with pediatric cancers. Many volunteers host third-party events such as auctions and golf tournaments, as well as luncheons and dinners with raffles.

To learn how to support the Pediatric Cancer Research Foundation, visit the official website at

Muscular Dystrophy Association Raises Funds through Its Muscle Walk

As the founder and CEO of Newport Beach, California-based Elite Financial Group, LLC, George Argyros, Jr., oversees the daily operations of the private financial insurance company. Prior to this venture, he had established Leveraged Life, Inc., another insurance company where he functioned as the CEO. A philanthropic individual, George Argyros, Jr., aids several charitable organizations, including the Muscular Dystrophy Association (MDA).

A nonprofit health organization aimed at finding treatments and cures for amyotrophic lateral sclerosis, muscular dystrophy, and other neuromuscular diseases, the MDA also funds research and advocates for those dealing with these diseases. Moreover, it provides support to MDA families through its many branches, seven of which are in California.

Individuals can contribute to the MDA in various ways, including via the annual Muscle Walk. As the largest event of its kind, the MDA Muscle Walk allows participants to raise money that benefits the organization through support groups and state-of-the-art clinics. It also goes toward the MDA summer camp, which is a place for kids dealing with muscle disease to be with others sharing similar experiences. The 2015 MDA Muscle Walk of Los Angeles occurred on April 18 and raised more than $67,000.

Common Types of Life Insurance

The founder and chief executive officer of Elite Financial Group, LLC, George Argyros Jr. has more than 10 years of experience in the fields of insurance and financial investment. George Argyros Jr. also leads a number of other companies and investment firms, including Leveraged Life, Inc., which provides life insurance premium finance programs.

Consumers can typically purchase several different types of life insurance. The main variations in these policies include costs, durations, and structures, while death benefit amounts may be the same.

– Whole life insurance. Beginning from the payment of your first, fixed premium, this type of life insurance is active your whole lifetime. One of the most popular types of life insurance, whole life pays a fixed amount to your stated beneficiary in the event of your death. Each year, the policy builds in cash value that can be borrowed against tax-free.

– Term life insurance. Often the least expensive life insurance option, term life has a variable premium rate that increases as you age or as the policy matures, depending on the length of the term, which is usually no longer than 10 to 30 years. Although the policy pays its stated value if the insured party dies within the term period, it pays nothing beyond the term period.

– Universal life insurance. A more flexible but higher-risk type of life insurance policy, universal life allows individuals to determine both the premium amount and the death benefit payment. Because the premiums are based in part on long-term interest rates, they may rise and fall throughout your life. The downside of the flexibility is that if premiums fall too low, they may not cover the cost of the death benefit and the policy would lapse. If that happens, all premiums paid and any potential death benefit disappears.

Argyros School Student Establishes Health 2 Humanity Social Enterprise

A senior executive with a substantial background in the real estate and insurance industries, George Argyros, Jr., founded the Elite Financial Group, LLC, in 2003 and has since served as its president. In addition to his professional activities, George Argyros, Jr., is a member of the board of directors of the Argyros School of Business and Economics at Chapman University.

The Argyros School works to both provide students with the skills to succeed in a competitive business environment and to inspire future business leaders to solve pressing social issues. One student, John Cefalu, exemplified these qualities with the founding of Health 2 Humanity, a social enterprise supporting African orphanages. Inspired by a high school charity mission, Cefalu set out to make affordable, all-natural soap bars available in the developing world.

Every soap bar sold through the Health 2 Humanity website enables four bars to be provided to children in Africa. Since its inception in 2013, Health 2 Humanity has provided over 4,000 bath bars and 5,000 laundry bars to orphans, virtually eliminating skin rashes and reducing illness by 25 percent. Additionally, profits from soap bar sales also support vocational training and microloans to young African entrepreneurs.