Life insurance can be a difficult topic to discuss. However it is a topic that everyone needs to know about as it is something that provides financial security for both yourself and your loved ones.
There are two types of life insurance and multiple uses for them in your financial portfolio.
Term Life insurance – is a type of insurance policy that one can purchase for specific a number of years such as 5, 10, 25, etc.
Term Life is great to use during your income producing and family growing years. Most people choose to carry a term that would expire somewhere around their retirement age. This gives protection and financial stability to the remaining spouse and children or other beneficiaries in case of pre-mature death.
Permanent or Whole Life insurance – is a type of policy that can also be used as a savings vehicle. These policies do not expire and stay with you for your entire lifetime period as long as you continue to pay for the policy. Plus many of the policies available accumulate cash value the longer you hold them and can work in many ways for your portfolio.
Life insurance is one of the most important coverage’s for anyone as it can be used for many purposes. Typical uses are funding a business buy-sell agreement, creating an immediate estate, paying off debt, paying final expenses, and as part of a retirement plan.
Life insurance comes with a wide variety of options and add-on riders, like return of premium, that can be custom tailored to any need there are also policies with No medical examination.
Many people are under the impression that due to a pre-existing condition they can’t qualify for life insurance. The good news is with the constant change in the insurance industry, more and more programs are available to us.
As an independent agency, we have access to a large array of companies and policies so we can custom fit the right coverage for you and yours.
So how do you determine what is best for you and your family? There is a policy and a plan for every person and for every financial situation. Give us a call or contact us with the form below so we can help you find the perfect fit.
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