Beyond insurance protection, life insurance can be the cornerstone of your family’s financial security by providing savings and wealth transfer opportunities. In fact, the very first step in selecting life insurance is to decide how you want the insurance coverage to work for your family.
When you’re ready, I can help you determine the amount of protection you may need and the type of insurance that’s right for you.
Insurance Coverage Options
You want to select the right insurance coverage to protect your family. Learn more about the options available:
Term Insurance – The more affordable of the two options, this insurance offers coverage at a fixed rate for a specified period of time. Term insurance is easy to manage and provides for most everything you and your family needs and nothing in excess. Your family is still protected and you will have peace of mind that that you are providing financial security. After the period expires you will need to renew at a new rate or purchase additional coverage.
Permanent Insurance – This type of insurance is at a higher premium, but does not have a time limit. As the name states, permanent insurance lasts for the extent of your life. In most cases this combines death benefits with an investment plan. All dividends received from a permanent life insurance plan are tax deferred. Permanent insurance offer the customer a cash value they can be borrow against for life events, like children or a new home. As long as premiums are paid, your family will have the right coverage as long as you live.