There are many kinds of life insurance, written to cover a variety of needs. Term insurance offers the lowest premium, but has the least flexibility. Whole life, or permanent insurance, offers cash value as well as a number of other advantages, but is considerably more expensive.

Why do you need Life Insurance?

Life insurance supports your legacy. It supports dependents and helps to pay the deceased's debts, funeral expenses, and income or estate taxes.

Term Life Insurance & Permanent Life Insurance

There are two options for life insurance: Term Life and Permanent Life Insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. For example, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.

Questions to ask 

It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.

As your Independent Agent, we will provide you with a short questionnaire in order to give you an idea of what type and amount of coverage you may want to consider. But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.

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Life Insurance

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.