No one wants to think about the end of their own life, but the reality is, it will happen to all of us. The question you need to ask yourself, are you prepared? Ensuring that our loved ones are taken care of can give us peace of mind.
During such an emotional time in their lives, the last thing we want our families to worry about is money. Life insurance can provide financial stability.
Every situation is different, life insurance is not a “one-size fits all” type of policy. We can help guide you through your options and help you determine what is in your best interest.
Term insurance is designed to have low premiums and high benefit amounts. This type of insurance is fairly popular with younger buyers to help protect living expenses for a family in the event of their untimely death.
Term life covers you for a specific number of years, when that time frame is up, you may have the option to convert your policy into a whole life insurance plan or purchase a new term plan.
Whole life is a form of permanent life insurance,it features guaranteed premiums, death benefits, and cash value. Whole life insurance policies also give you the potential to receive dividends, which can increase the value of the policy when the insured is living or provide an increased death benefit for your beneficiaries.
Final expense insurance plans are a type of whole life insurance that are specifically designed to provide money for your final expenses; the average funeral cost is $8,000. These policies have very affordable premiums and some companies offer guaranteed issue plans, meaning they do not decline your application based on your health condition.
Universal life is another form of permanent life insurance that allows you to adjust how much you’ll pay each year by accessing some of the policy’s cash value. Potential growth in a universal life policy can vary based on the specifics of your individual policy.
Some common uses for universal life policies are: tax-deferred cash accumulation, estate planning and college education funding.
No matter what kind of life insurance you need, our friendly professionals can give you all the information and answer your questions so you can make the decision that is right for you and your family. Contact us today for a free, no-obligation appointment at 812-473-7271.