Which is right for you? First, always ask yourself why you need your life insurance policy and what you're trying to accomplish by having a life insurance policy. Are you insuring your life so that when you pass away your children will be able to go to college or so your spouse will be able to pay off the mortgage? A temporary form of life insurance – term life – is well suited for these concerns. If you are more concerned about providing income to a widow or widower for life, funding retirement, or passing on wealth to future generations you will find permanent life insurance to be better suited for these goals. If you have a temporary goal in mind then term insurance is probably best.
However, if you are looking to address a long term need or concern then its best to look at the right permanent life insurance policies for you. Buying insurance of any kind is often confusing. There are always a lot of factors to be considered. Consult with us today to help determine the best type of life insurance and the appropriate premiums for your situation. Our agents are here to help you make a decision that's right for you!
Permanent life insurance provides protection throughout your lifetime as long as you continue to pay your premiums in full. Most permanent life insurance policies build cash value for you to use for expenses later in life like paying off a student loan or purchasing a new car. Cash value is an attractive part of many permanent life insurance plan
If you want a policy that can build cash value for you as well as build up some savings for later in life, talk to our agents about the right permanent life insurance plan for you!
Term life insurance provides you protection for a specific price over a specified period of time: usually 10, 15, 20, or 30 years. Coverage expires without value at the end of the term and you will need to either convert your policy to a permanent life insurance plan or purchase a new policy for a new term. Term life insurance pays out a specified lump sum to a beneficiary only in the event that you die before the policy expires. Term life insurance is somewhat less expensive than permanent live insurance due to the drawback of having an expiration date.
Different types of term life insurance are available for you. Let us modify a plan to fit your needs and provide you the maximum amount of protection for the least amount of premium.
Contact our insurance professionals today to see if term life insurance is right for you. 503-873-8631