Life Insurance

Life Insurance

Your Perfect Fit for Life Insurance

Life Insurance is a subject many of us try to avoid. Just like signing your Will, some people wait till the last minute while trying to dodge the issue. Their excuses are many: Can’t afford it! Don’t need it! I’m healthy, so I can wait! The cheapest premiums are only available to those who buy early. In the meantime, if their health has changed, they might not be able to buy it at all.

Life Insurance has long been a method for creating wealth. It can be used to pay debts, pre-pay a funeral, pay for college, or provide an inheritance. There is no limit to the number of uses for these benefits when the time comes. Let us help you plan wisely to LEAVE A FINANCIAL LEGACY for those you love.

Act now to prepare for the uncertainties of life with the purchase of a Life Insurance policy.

Temporary Insurance vs. Permanent Insurance

There are two major forms of Life Insurance: Temporary and Permanent. Obviously, Temporary Insurance is cheaper. Cash Value is the amount of money stored in your policy in addition to your Death Benefit.

Term Insurance is temporary. This coverage is often purchased for a period of 10, or 20, or even 30 years. After that length of time, the policy ends. It does not have a Cash Value.

Whole Life Insurance is permanent. The premiums are higher than Term Insurance, and the premium amount is fixed. Coverage is for a lifetime as long as the premiums are paid on time. Whole Life Insurance has a Cash Value that can add to the final value of your policy.

Universal Life Insurance is permanent. The premiums are higher than Term Insurance, but their amounts can be flexible. If something happens to your income, you could use the Cash Value to help pay your premiums for a short time. The downside of this is that if you use up too much Cash Value, your policy will end. Be aware that your premiums may rise if interest rates decline.

There are many debates about the best kind of Life Insurance policy. The policy that is best is the one that is still in force the day you need it.

Of major importance is the fact that Life Insurance is NOT an investment. Never try to use it as such!