Life insurance is a guarantee that your loved ones will be financially secure and cared for when you aren’t there to do so. 

A life insurance policy guarantees that a sum of money, or death benefit, will be provided to a surviving beneficiary upon your death. The money you designate varies depending on the policy you have and the amount of coverage you choose, but the settlement will help your family stay afloat and give them the opportunity to recover from your loss. They might use the money to pay off debts, cover a mortgage, fund a child’s education or meet any number of other obligations. 

There are two primary types of life insurance:  

Term Life Insurance: A term life policy provides a death benefit to your loved ones if you die during the policy’s term. This term might be a period of 10, 20, 30 or more years, depending on the expiration date of the policy. If you do not die during this time, then the policy does not pay, and will expire when the term ends. You will also have to reapply for a new policy if you want to continue to have coverage.  

Whole Life Insurance: Whole life policies last for the remainder of your life once you enroll. They will not expire unless you stop paying for them. Additionally, these plans offer cash value investment opportunities, and the cash value component can enable you to receive a source of income during your lifetime (in addition to the eventual death benefit).  

Several more specific policies also exist, including:  

Speak to one of our agents to learn more about which type of policy is best for your needs.  

The amount of life insurance you need is entirely up to you. For example:  

If you want a policy to help pay for a child’s college education, then a 20-year term policy might be best for you. You can let the policy terminate at the end of the term, but you can rest assured that if you do die before your child graduates college, this policy will pay for their tuition and other expenses.  

Many people tie the value of their life insurance policies to the value of their debts—mortgages, car payments, etc. If you die while these debts are outstanding, then your beneficiary can use the money to settle expenses.  

Some people tie the benefit to their income and leave a certain number of years’ worth of their paycheck to their survivors. So, if you were to take your current paycheck and multiply it by ten, then your death benefit will provide ten years’ worth of income to your family.  

Essentially, you get to choose your own death benefit, and our agents will provide continuous assistance in choosing the proper amount. 

Depending on aspects such as age, income and chosen coverage, your life insurance premium can vary. 

A common concern is that people worry about the affordability of life insurance, whether it’s because they have a pre-existing health condition or face other risk factors. Our agency takes this into account when working with you, and we can ensure that you will be provided adequate coverage no matter what your situation is. 

Contact us to learn more about life insurance or request a free quote now.