Security. Peace of Mind.
Buying life insurance protects your loved ones from the potentially devastating financial losses that could result if something happened to you.
It provides financial security, helps to pay off debts, helps to pay living expenses, and helps to pay any medical or final expenses.
Life Insurance
WHAT IS LIFE INSURANCE?
Knowing our loved ones are secure and financially stable when we are gone is extremely important to most of us. The concept of Life Insurance is pretty straightforward – you pay for an insurance plan now to financially protect your loved ones should you pass away.
Although the concept is quite simple, it can be hard to choose between the many companies, options and types of Life Insurance out there.
TERM LIFE INSURANCE
If you want life insurance to provide support to your loved ones in the event that you die unexpectedly, then basic protection or Term Insurance generally provides coverage at a lower cost than other types of insurance and can cover a specific length of time.
PERMANENT LIFE INSURANCE
If you need long term life insurance with the option to build cash value, permanent life insurance may be for you.
There are 3 types of permanent life insurance:
- Whole Life Insurance – This is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime as long as the required premiums are paid, or to the maturity date. Premiums are fixed, based on the age of issue, and usually do not increase with age. This policy builds value based upon a set schedule.
- Universal Life Insurance – This type of policy earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate.
- Variable Universal Life Insurance – This can be a riskier type of life insurance policy that allows you to invest your cash value into the stock market.
There is a lot to know about life insurance and we know choosing the right policy is an important decision for you and your family.
Contact us today for assistance in choosing the right life insurance for you and your loved ones.
Life insurance facts and statistics
- In 2020, 54% of Americans were covered by life insurance.
- 50% of people overestimate the cost of term life insurance. Millennials, in particular, overestimate the cost by 213%.
- The average premium for a male rises 258% between age 25 and age 50.
- Gender, age, smoking status, health, medical history and other factors impact your life insurance rates.
- The suicide clause refers to a clause that usually lasts about two years, in which an insurance carrier won’t pay out for death by suicide.
- Some life insurance policies exclude coverage if the insured died while committing a felony. Additionally, if the policyholder was murdered by the beneficiary, the benefits are typically not paid out, which is known as the slayer rule.
- A man’s average premium is about 12% more per month than a woman’s.
- The number of consumers who prefer internet sales for life insurance increased from 17 percent in 2011 to 29 percent in 2020.
According to BankRate.com article
62.6 Million
Enrolled in Medicare (2020)
Choosing the proper plan is vital to cover increasing medical expenses
Sharing our expertise
Knowledgeable experts
Ready to assist you in finding the best plan for you