Understanding Life Insurance
One of life's rewards for working hard and saving for a rainy day is achieving financial security. One of life's realities, however, is the possibility of premature death, leaving financial responsibilities for the loved ones left behind. Whether it be your mortgage, everyday bills, or even college tuition for your children - life Insurance is a way to make sure your family is able to keep living their current lifestyle in the event of an untimely death.
There is a solution.... life insurance. Life insurance can create an immediate cash fund for loved ones. So, even if death is premature, financial security for your family is possible. There are many different types and plans for life Insurance. Below are the 2 different "types" of policies.
Contact us to have us work up a plan for you and the future of your family.
There is a solution.... life insurance. Life insurance can create an immediate cash fund for loved ones. So, even if death is premature, financial security for your family is possible. There are many different types and plans for life Insurance. Below are the 2 different "types" of policies.
Contact us to have us work up a plan for you and the future of your family.
Term Life InsuranceTerm life is a type of life insurance that allows you pay the same set price for an amount of time or a TERM. It could be 5, 10, 20, or 30 year term depending on the policy you purchase. At the end of that set term, the policy ends. You will then have to reapply for a new term at your new age and if you have any new health issues, they will also apply. Term is a very popular form of mortgage protection, since most mortgages run for 20 or 30 years, the same length as many term policies. Typically term policies do no provide cash value. Term is the cheapest type of life insurance.
|
Permanent Life Insurance
Permanent Life insurance provides lifelong protection, and the ability to accumulate cash value on a tax-deferred basis. Unlike term insurance, a permanent insurance policy will remain in force for as long as you continue to pay your premiums. There are two different forms of permanent life insurance are universal life and whole life. Universal life provides immediate cash value, flexible premium payment plans, tax deferred savings & guaranteed death benefits. Whole life insurance provides level death benefit protection with level premiums and guaranteed cash values.
|
