A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death.
Typically, life insurance is chosen based on the needs and goals of the owner. Term life insurance generally provides protection for a set period of time, while permanent insurance, such as whole and universal life, provides lifetime coverage. It's important to note that death benefits from all types of life insurance are generally income tax-free.
Everyone needs financial protection. With term life insurance, you can provide for your loved ones even if … well, you’re not there. It’s not easy to think about, but having a well thought out financial plan is a smart move.
Term life insurance can be a cost-effective way to cover expenses like debt, college costs or even replace a wage earner’s income, so your loved ones will not be financially burdened.e services you offer. Also, be sure to showcase a premium service.
As things in life change, the type of life insurance you need can change too. While term life insurance covers you for a specific period of time, whole life is designed to protect you for your entire life.
You may want to consider whole life if you own your home or are thinking about retirement.
Life Insurance is a way to help make sure your loved ones, who depend on you, are financially secure if something were to happen to you unexpectedly.
There are lots of plans, but universal life insurance combines the best options — the affordability of term insurance with the long-term security of permanent or whole life insurance.
To find out if term life insurance is the right solution for you, get in touch with one of our agents for more information. Our independent insurance agents are licensed professionals who can help you review your life insurance options and pick the right coverage based on your individual needs!