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Life Insurance

Life insurance can help you secure your family's financial future by providing the funds they need to cover burial expenses, medical bills, replace lost income, send children to college and maintain your standard of living.

There are 3 types of life insurance. Let me explain the differences.

Term Life Insurance

Term Insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 10 thru 30 years, but can be as short as 1 year renewable term insurance coverage. Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term Insurance pays a death benefit only if you die during that term. Coverage terminates if you stop making premium payments

Check out this guide for more information about choosing the right life insurance.

Whole Life Insurance

Whole Life Insurance provides permanent protection for the whole of life - from the date of policy issue to the date of the insured's death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy's life.

Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child's education, or building tax free wealth for you and your family.

Check out the Advantages of Whole Life Insurance.

Universal Life Insurance

Universal Life is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments. Your premiums cover the insurance part also the savings or investment element and the expense part. The stated interest on the investment portion changes along with movement in interest rates. There are variety of expenses on this type of policy that must be carefully looked at prior to purchasing.

For more information, request a complimentary consultation today!