Life Insurance: Protecting Your Priorities
No one enjoys thinking about the inevitable fate that awaits us all. However, the thought can be less daunting knowing that your loved ones will continue to be cared for after you are gone. With the right Life Insurance, your beneficiaries will be provided with both long-lasting financial security and peace of mind. Your Life Insurance policy can help to pay for unexpected expenses such as funeral costs, housing payments, medical bills, education, and even prior debt. Helping your family maintain their current lifestyle and ease their financial worries is the primary intention of Life Insurance.
Know the Difference
• Term Life: Typically the simplest and least expensive insurance option, Term Life Insurance provides coverage at a fixed rate for a specified period of time.
• Whole Life: As the most common type of permanent insurance, a Whole Life policy guarantees a death benefit for the lifetime of the insured as well as a cash value account for savings.
• Universal Life: Designed to be more flexible than other permanent Life Insurance, Universal Life policies still guarantee a death benefit for the duration of the policy as well as savings that accumulate cash value.
Of course knowing that Life Insurance is an important decision, Insurance Town & Country is here to help you walk through the process and understand the different policies. Depending on various factors, your individual policy will be different than your neighbor’s. Just like your other insurance policies, your life insurance policy will vary depending on how much coverage you need, the duration of your policy, how much you can pay on a monthly or annual basis, and even your age and condition of health. In addition to understanding the different types of Life Insurance, it is important to discuss with your local insurance agent Individual vs. Group Life Insurance, Long Term Care Insurance, Mortgage Protection Insurance, and Disability Insurance. All of these aspects of Life Insurance will be important in keeping your family protected.