Life Insurance safeguards your family’s financial security by providing money to your loved ones if you die. No one should be without Life Insurance — It’s that important! Get a Quote Now!
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Life Insurance: Four Big Questions
Who am I Protecting? It could by your spouse, children, partner, parent, next of kin or anyone dependent on you.
How much would they need? Needs often include paying off a house mortgage, providing education funds, replacing income and money for final expenses.
What contract options will I want? Long duration, affordability and a conversion option are some of the policy features to consider.
What can I afford? Life Insurance needs to be something you can afford and keep funding over a long time. Better to have some protection that you can afford to keep than a policy that has lapsed because the bill didn’t get paid.
With answers to these four questions, we can design a Life Insurance program that fits what you want. Protect your loved ones by purchasing Life Insurance that can handle their financial needs in case of your untimely death is a choice.
You need three things to obtain Life Insurance
- Desire to protect your loved ones
- Money to fund the Life Insurance contract
- Good Health to qualify
Our job is to facilitate your choice with guidance to the right insurance policy and assisting you with the application process. Use this link to start a discussion with us on your life insurance needs: Get a Quote Now!
Life Insurance: Three Main Types of Life Policies
Term Life – Provides pure insurance protection (no cash value) for a defined length of time, often 5, 10, 20 or even 30 years. Term coverage is normally the most affordable choice. Some plans have a conversion option that allows you to continue coverage beyond the term’s end which can be an important safeguard if a health issue occurs. It’s a great way to buy the large quantity of insurance that is often needed to protect a young family and still stay within your budget.
Universal Life – A long duration policy that can provide cash accumulation, depending on funding levels, and offers great flexibility to adjust with changing needs. A Universal Life policy can also be structured to provide good “later-in-life” options. Often a Universal Life can provide very flexible Life Insurance coverages. A Universal Life policy can be a good choice over a wide range of Life Insurance needs for a moderate price.
Whole Life (“Permanent Life Insurance”) – Guaranteed Benefit, Guaranteed Cash Value, Guaranteed Premium, Guaranteed Coverage to age 100. At age 100, the contract ends and pays you the full face value of the policy. While a Whole Life policy costs more in premium than either a Term or Universal Life contract in the short run, it’s a great value in the long run. It’s an excellent way to provide lasting protection for a spouse or to provide funding for final expenses.
Life Insurance Resources
Essay: Why Life Insurance