Life Insurance

Life insurance is a way for families to continue financially after the death of an essential provider. In the event that the primary or secondary breadwinner in a family passes away, the life insurance company will pay out a predetermined amount of money to the surviving spouse or other designated beneficiary. The beneficiary may then utilize this payout to deal with burial service expenses and basic living expenses, giving the family time to grieve. Anyone between the ages of 18 and 85 can apply for life insurance.

There are three main types of life insurance to consider. Term life insurance is only good for a specified time period and must be renewed for the coverage to continue. Premiums are generally low, making it an excellent option for young families who may have a new mortgage and other debt.

Whole life is protection for an entire lifetime. Premiums are higher, but there is a savings component which allows the policyholder to tap into the account for special needs, such as a college education or medical costs.

Universal life insurance builds monetary value as well, but the money builds value a little differently. Guarantors with this type of insurance will pay a premium rate that may surpass standard rates, however.

Choosing a life insurance plan can be overwhelming, but by speaking with one of our insurance professionals, you will be able to determine the right choice for you and your family. Life insurance can provide peace of mind for an entire lifetime.