Life Insurance
The future is always uncertain, but that doesn’t mean your family’s finances have to be. Purchasing life insurance can ensure that your family is able to survive and thrive in the event of an unforeseen illness or accident. It’s not a fun subject to think about or talk about, but if you have a family that depends on you, you need a responsible life insurance policy that guarantees those you love will be able to carry on if tragedy strikes.
Types Of Life Insurance
Term Life Insurance
Term life insurance covers the costs for those left behind for a defined period of time – typically 10, 20, 0r 30 years. Because term life insurance is designed to last only for a specified period, it tends to be the least expensive life insurance package in the short term. Families use this kind of insurance to make sure they are able to pay final expenses, eliminate debts, protect property, and ensure that their children can attend college.
Permanent Life Insurance
Permanent life insurance is intended to last for an entire lifetime. Some of the benefits of permanent life insurance are the ability to lock in a premium that will not change with changes to your health, and accruing a cash value for the policy over time that can be borrowed against. There are lots of ways this kind of policy can be tailored to your needs, and our representatives will be happy to assist you in setting it up the right way.
I’m Young: Do I need Life Insurance?
Most single young people think they don’t need life insurance. Generally speaking however, it deserves consideration. Many young people accrue significant college related debt – life insurance can be used to pay that off (and save your family from having to do so) should something happen. Or, if you were to come down with a life threatening illness, it can be hard, if not downright impossible, to get a life insurance plan. And, if you purchase a permanent life insurance policy early in life, it allows you to lock in a low monthly premium for the duration of your life because life insurance gets more expensive the older you get.
