Life Insurance
Protect Your Family with Life Insurance
Life insurance protects your loved ones when you’re gone tomorrow. There are many types of life insurance and it is very important that you understand the pros and cons of each and choose the best option for you and your familiy. Let us help you make the best decison.
| Life Coverages | Description |
|---|---|
| Term Life | Term Life insurance provides protection for a limited period of time. If the insured passes away during this period, a predetermined amount will be disbursed to the beneficiary. There are term life polices that can be converted to permanent policy within a certain time. This is a good option if you are considering a permanent policy in the future. |
| Whole Life | Whole Life Insurance is probably the most common type of permanent life insurance. It has become popular as a form of retirement investment because it builds cash value over time. Whole life insurance can be more costly than other forms of life insurance, but it can also provide many more additional benefits. Some insurance companies may even offer what is called a dividend option, where any excess premiums you've paid get returned. |
| Universal Life | Universal life insurance is oftentimes referred to as adjustable insurance and is comparable to whole life. These life insurance policies have a savings vehicle similar to that of whole life, but it allows you to borrow against its cash value. This flexibility can allow you to take a loan out against your policy or even pay smaller premiums if your cash value can cover the costs. Remember, if you take out a loan and fail to pay it back, you risk losing your insurance policy completely. |
| Varaiable Universal Life | Variable Universal Life insurance policy's investment options are different and are typically managed professionally. Whatever cash value you have accrued can be used to invest in stocks, bonds, and mutual funds to earn a greater return. Of course, you always run the risk of losing money through these investments. Also, just like with universal life insurance, you can borrow against or withdraw from variable life policies. |
What type of life insurance should I choose?
There are many options of life insurance. Based on your long term needs we can work together to determine the best coverage for you and your family. Call us today and we will provide you with all of the information you need to make the right decision.
