Life Insurance

Many people are confused by life insurance coverage types. Life Insurance policy benefits have been changing over the past several years.

Many plan options now allow for benefits to the policy holder. These are called “Living Benefits” and they can be very beneficial if life takes an unexpected turn. This means money when you need it. Now, Life insurance is not just a policy that leaves something for your loved ones. It can provide funds if a major health event were to occur during the insured’s lifetime. These Living Benefits can be another source of money when things in life don’t go as expected.

Whole Life plans pay out for the life of the insured as long as the payment terms are met.

There are Whole Life policies that will allow growth of your policy value inside the insurance contract that can be used as a tax-free income in retirement. These Indexed Universal Life plans will grow when the index grows, but do not lose any gains if the index falls. Protecting the policy accumulation from loss. The value of the policy can only go up!

Final Expense Insurance is a very affordable type of Whole Life coverage that is designed to have ready funds for funeral and final expenses. When there is a death, Final Expense insurance plans pay quickly to help meet the immediate financial/funeral needs. Final Expense Plans can also be purchased without medical exams or health qualification.  With guaranteed issue policies, we can get a policy for almost everyone! Many, many health issues are not a problem with Final Expense policies.

Term insurance is a policy will cover a loss during the policy term. The term could be 10, 15 or as long as 25 to 30 years depending on your age.

Term Insurance can an be inexpensive to way to add extra coverage for time limited needs. Term could be used to cover a mortgage or make sure college funds will be there if there was an early death.

Whatever type of Life insurance you need, I have many companies to choose from to get you the best price for the exact coverage you want!