Life insurance helps protect the ones you love upon your passing.
Life Insurance helps provide peace of mind that your family will have some financial protection when you are no longer here to take care of them. Life insurance can be divided into three main categories:
Term Life Insurance,
Permanent Life Insurance, and
Final Expense Insurance.
Determining which life insurance product you want can be confusing. We can help you design a plan that fits your budget and covers life's unexpected events, giving you peace of mind. Let's take a closer look at each of the options:
Term Life Insurance
You choose how long you want to be insured, which is called the “term” of the insurance. Typical terms are 10, 15, 20, or 30 years. You decide how much money or “coverage” you want your loved ones to receive. Your cost will never increase during the term of your policy.
Permanent Life Insurance
Permanent Life Insurance is a phrase used for life insurance plans that do not expire. The two primary types of permanent life insurance are whole life and universal life insurance policies, which typically earn interest and build cash value.
Final Expense Insurance
At a time when your loved ones are suffering most from grief and loss, they may be faced with paying medical bills, leftover debts, and funeral expenses. Final Expense Insurance is designed to ease the burden of funeral expenses and outstanding debts.
Another perspective to help you choose between term life and permanent life is to ask yourself, “Do I want to ‘rent’ or ‘own’ my life insurance policy?”
Term Life Insurance might be compared to renting. You make your monthly payments for an agreed upon term. When the term is up, the coverage ends.
Permanent Life Insurance might be compared to owning. The policy lasts as long as you do. It earns interest and builds cash value over time, much like equity in a home.
Give us a call, we are here to help you! We offer a no obligation, unbiased approach to help you find the Life Insurance product that fits your needs and budget.