Term Life Insurance
Term life insurance is a way to give peace of mind and protection to your family for a specific period of time. These types of policies are typically sold in 10, 15, 20 and 30 year terms. Not only does the premium remain the same, but the face value remains the same as well. If the insured party were to die during their term period, then the beneficiaries will receive the proceeds income tax-free. Term life insurance is also a way to guarantee insurability for the future. This means that the insured party will have access to a whole life policy throughout the length of their term policy, regardless of what health issues may arise. Talk to one of our licensed agents to discuss how much term life insurance is right for you.
Whole Life Insurance
Whole Life insurance is the most common type of permanent life insurance. Whole life insurance does not have a specific time period that it remains effective, so it follows the insured party until death. With this type of life insurance, your premium will remain the same throughout the life of the policy. The death benefit, or face amount, also remains the same. Unlike term life insurance, this type of policy does accrue a cash value over time that would go to the insured in the event that the policy should cancel prior to death. Some whole life policies are paid on until the insured party dies, and some can be paid up after certain number of years. A popular example of a whole life policy that can be paid up is our 20 pay whole life policy. This means you only pay for 20 years on protection that will follow you until death. Please talk to one of our licensed agents to discuss how much and what kind of whole life policy will best meet your needs.