Life Insurance

An unexpected tragedy can rob you of your ability to care for your family, but a good life insurance policy can protect your family from those things outside your control. Every life insurance policy provides financial security for your family in the event of a fatal accident, so that they can pay burial and final expenses, pay off lingering debts, and have a safety net to help pay for rent, mortgage, education, and other living expenses.

Different Types of Life Insurance

But before you purchase life insurance, it’s important to know the options available to you: term, whole, and universal. Term life insurance is active for a limited time and is usually purchased in 10, 15, 20, or 30-year increments; at the end of the term, this coverage can be renewed.

It’s the most inexpensive option, but sometimes premiums go up when it’s time to renew. Whole life insurance, on the other hand, does not expire or change its premiums, ever. It’s designed for the long haul. Universal life insurance is similar to whole, except that it has more flexible payments.  Let us help you find out which type of life insurance may be right for you.

Changes in Life

As your personal situations change (i.e., marriage, birth of a child or job promotion), so will your life insurance needs. Care should be taken to ensure this product is suitable for your long-term life insurance needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health and age, and has additional charges for riders that customize a policy to fit your individual needs.

Ready to customize your insurance plan?