Planning accordingly with life insurance is extremely important. And it may be more affordable than you think! 5 reasons to get life insurance are:
- It can help ease stress for loved ones by paying for end-of-life expenses.
- It can help give your family control over their financial future.
- It can be used to pay for your child’s education.
- It can be used to provide a source of cash during your lifetime.
- It can help secure your retirement.
There are 3 main types of insurance to consider.
Term Life Insurance
This type of insurance offers affordable coverage for a set period of time. Typically for 10, 15, 20, or 30 years. Some companies will offer for you to renew the term at a different price for another term. We usually like to encourage people to look into more permanent options, because once the term is up the renewal offer is usually quite a bit more. But term life can be a great tool to help pay off debt. With the idea, that by the end of the term, the debt is paid off, and so having the coverage might not be as important at that time.
With this type of insurance, once you lock in your rate, it will stay that way from now on, as long as you pay the premiums. Whole life also offers a cash value accrual. You can borrow from the cash value, but loans or withdrawals may be subject to income tax, reduce the death benefit, and may cause the policy to lapse. Loans will accrue interest.
Universal life works similar to whole life. It will not expire as long as you continue to pay your premium, and it has a cash value component. But you typically have the option to adjust the premium, and death benefit. There must be enough cash value in the policy to cover monthly charges if a lower premium is paid than the amount selected at issue, or if the premium is skipped. Additional payments may need to be made to keep the policy in force. Increases in coverage is subject to underwriting.
Let our licensed professional’s help you navigate your options. We offer;
- Term Life products
- Whole Life products
- Universal life products
- Long term disability products
- Short term disability products
- Final Expense products
- Disability income products
- Critical illness products
- Group products
To receive an individual quote, please click the request quote now button below. Not sure how much coverage to shop for? Click here to help calculate your needs. If you would rather speak with one of our professionals, click here for our contact information, or you are welcome to fill out the form on the bottom of the page.
We can also help you set up group products! If you know what you are looking for, you are welcome to fill out the form below, and we will be happy to send you over the correct forms. You are also welcome to send questions through the form below or click here for our contact information, or click here to book an appointment with us.