More than one third of households would feel the financial impact within one month if the primary wage earner died (Life Happens and LIMRA study). If something happens to you, do you want your loved ones to be financially protected?
As an independent insurance agency, we are able to offer a wide selection of life insurance options to protect and empower your loved ones in the event you are no longer able to. Our team researches available policies from our large network of insurance companies and brokerages to identify the best option for your needs.
Available policy types include:
- Term life insurance
- Whole life insurance
- Universal life insurance
Many factors go into determining which type of life insurance policy is best for your current circumstances, like your reason for purchasing, your age and health status, as well as your current financial situation. We will guide you through the process of deciding which policy type best meets your needs.
Term life insurance
A term life insurance policy offers a specific benefit amount should you pass away within the policy’s term. Term length will vary between policies, but can range anywhere from 10 to 30 years.
Monthly premiums are generally lower on this type of policy, but it gains no cash value should you live beyond the term of the policy.
Whole life insurance
A whole life insurance policy offers coverage for the life of the insured. This type of policy has fixed premiums and provides guaranteed death benefits.
While premiums are higher than with term insurance, this type of policy has great savings potential since it builds cash value over time. In fact, the benefit amount can actually increase over the life of the policy, providing the insured with increased capital at a very low risk.
Universal life insurance
A universal life insurance policy also offers guaranteed premium and death benefit for the life of the insured. Unlike a whole life policy, the parameters of a universal life insurance policy can be adjusted to adapt to the insured’s current needs.
This type of policy also builds cash value, but it is at a lower rate due to the available flexibility of premium and total death benefit.