Life Insurance?

Most people associate Life Insurance with the end of a life, where benefits are paid to beneficiaries after the person covered by the policy dies, but it can be so much more

In addition to the death benefit, Permanent Life Insurance offers benefits while you’re alive as well.  As you pay your premiums, Permanent Life Insurance builds case value during the insured’s lifetime that can be used to help pay for things such as buying a home, legacy planning, education expenses or a wedding.  Best of all, this cash value typically accumulates tax free.

Permanent Life Insurance benefits include:

·         Cash value you can use while still alive

·         The ability to put money into the policy on a tax-free basis

·         A variety of riders and benefits available to tailor coverage to your individual needs

Term Life Insurance is an affordable way to help protect your loved ones’ financial security in the event the unthinkable happens.  Premiums are level for the specific term, for coverage that can help pay for financial responsibilities that decrease or eventually end over time, like mortgages, car loans or education needs.

What is Term Life Insurance?

Term Life Insurance is typically the least expensive way to purchase a substantial death benefit because it only provides coverage for a specific period of time-usually 10, 20 or 30 years.  Term Insurance provides  a payment to your beneficiaries, known as a death benefit, if you die during the time period covered by your policy.  Term Life policies are options if your Life Insurance needs change.

How Term Life Insurance can help you

Term Life Insurance policies are typically used to help provide a financial safety net should something unexpected happen to a loved one. Some way Term Insurance can help include:

Protecting your family’s financial needs:  Term Life Insurance proceeds can help protect your family from financial hardship when dealing with loss.

Providing coverage for financial obligations that end:  Term Life is usually best for covering obligations that have an expiration date, such as mortgages, college education or replacing income during working years.

Replacing services formerly provided by a deceased homemaker:  Cleaning and day care costs can quickly overburden your finances.  Insuring against the loss of a homemaker can help make these services financially possible.

Covering personal debt and final expenses:  Even if you don’t have children, you should consider at least enough Life Insurance to cover personal debts, medical bills, and other end-of-life costs.  If you are uninsured, your “legacy” may consist of unpaid expenses for your family or executor to deal with