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What is the "Best" Type of Life Insurance for Me?
 
When trying to determine what type of Life Insurance is "Best" or most suitable for you - it always starts with your needs first. There are many types of Life Insurance options and products available today and it can be difficult to determine without a clear goal defined. Your Life Insurance options generally fall into two categories:
We'll talk about the two main Life Insurance options and the needs they address beginning with Term Life Insurance. 
Need a quote for Term or Whole Life Insurance? Complete the form below and we will contact you as soon as possible.

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Term Life Insurance (Temporary)
Term Life Insurance (Temporary)
 
Term Life insurance is a great tool to use to protect your family from loss of income and to cover debts. There are even products that offer "living benefits" in the event of a critical, chronic, or terminal illness. Term Life Insurance offers the biggest bang for the buck as far as the amount of death benefit provided for the monthly premium. The main thing to keep in mind with Term Life Insurance is that this is considered "temporary" coverage. What does "temporary" mean? With Term Life Insurance there is a coverage term - typically 10 years, 20 years, or 30 years. At the end of the term, the policy terminates. Term Life Insurance is the perfect tool to take care of:
  • Providing income to your wife, husband or children in the event of your death
  • Covering mortgage payments and debts
Penn State University Performed a study in 1993 of over 20,000 Term Life Insurance policies and determined that only about 1% of those policies actually paid a death claim to the beneficiary. For the majority of the cases the insured simply outlived the term length of the policy - this is a reason why Term Life Insurance is not a suitable choice to cover Funerals, Final Expense, and Wealth Transfer. In these situations, permanent coverage such as Whole Life Insurance is more suitable. 
Need a quote for Term or Whole Life Insurance? Complete the form below and we will contact you as soon as possible.

Whole Life Insurance (Permanent)
Whole Life Insurance (Permanent)
 
Whole Life insurance is a great permanent coverage tool and we generally recommend reviewing your options as you approach age 50 and above (we do have options for applicants out to age 90). Whole Life Insurance carries some additional guarantees not available with Term Life Insurance. Some of these guarantees include:
  • Coverage is guaranteed to last the rest of your life - you can't outlive the policy
  • One you are approved, your rate is "locked in" and will never increase
  • Policy builds cash value that you can borrow from if needed
For these reasons and guarantees Whole Life Insurance is better suited  for folks planning to cover Funerals, Final Expense, and Wealth Transfer.
Need a quote for Term or Whole Life Insurance? Complete the form below and we will contact you as soon as possible.

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