Life insurance should not be an option if you have loved ones who depend on you. The right policy can make sure your dependents and debts are well taken care of when you die. We understand the importance of financial stability and are here to help you find the right life insurance options for you and your family.
What Are The Different Types Of Life Insurance?
There are essentially two types of life insurance policy options: term insurance and whole indemnity coverage.
Term life insurance provides financial coverage in the instance of your death. These policies are the more affordable option since they don’t provide any perks while you are living. Individuals who need a lot of coverage without the high monthly premiums may select a term insurance policy that pays enough for the family to pay bills and live comfortably after the policyholder’s passing.
Those who are looking for a financial cushion while living may do well to look into a whole life insurance plan. Whole life insurance usually requires a physical exam and calls for higher monthly premiums. The benefits that come with a policy, however, are significant.
It is not uncommon for individuals with whole life insurance to use the interest that accrues from timely payments on unexpected expenses or planned vacations. You may also be able to borrow against your policy when financial emergencies arise, and the interest is not enough.
How Much Insurance Do You Need?
The amount of life insurance protection you purchase largely depends on your lifestyle preferences. It may also be a good idea to consider your bills and the importance of leaving a financial cushion for loved ones after your death.
We can work with you to determine what coverage best fits your needs. We’ll walk you through the process, every step of the way, to make sure you have peace of mind that things will be taken care of after you’ve passed.