WHAT IS LIFE INSURANCE?
Everyone deserves a secure financial future — and that’s why life insurance is so important. Whether you’re just starting out or you’re getting ready to retire, a life insurance policy can help you give everyone in your family financial peace of mind if you are no longer there to provide for them.
WHAT IS TERM LIFE INSURANCE?
A term life insurance policy offers affordable, straightforward protection that lasts a defined period of time. Term life insurance is often the lowest-priced coverage option, but it is temporary. It is designed to help replace your income if you pass away during your earning years. Your family can use the death benefit to help pay for expenses like housing, childcare, and groceries.
WHAT IS UNIVERSAL LIFE INSURANCE?
A universal life insurance policy offers flexible protection that can last up to your lifetime and includes various cash accumulation options. If you want lifelong coverage, but with flexibility down the road, universal life insurance may be a good option.
WHAT IS WHOLE LIFE INSURANCE?
A whole life insurance policy offers predictable lifelong protection with the most guarantees, including a fixed premium and death benefit. Whole life policies provide that the amount of life insurance coverage you buy at the start of the policy remains the same throughout your lifetime. The cost is fixed, based on your age when you buy it. And the money paid to your family when you die is generally income tax-free.
WHAT IS VARIABLE UNIVERSAL LIFE INSURANCE?
A variable universal life insurance policy typically includes different investment options for your cash value, as well as flexibility in your death benefit. This comes with higher growth potential and increased risk. Remember to follow us on Facebook!
What is the difference between term life insurance and the other ones?
Term life and permanent life are the two main types of life insurance policies. Both offer a tax-free death benefit to your beneficiary/beneficiaries if you pass away. Term life insurance provides coverage for a set period of time and is often the lowest-priced coverage option. Permanent life insurance provides the security of lifelong protection and can also build cash value over time.
Why even bother getting life insurance?
Life insurance can help protect your family members when they suffer the loss of a breadwinner or stay-at-home parent. Life insurance allows a family to help maintain its standard of living by providing income-tax-free money to help pay for funeral expenses, pay off the mortgage, set aside college tuition for the kids, and help provide financial peace of mind after the loss of a loved one.