Life Changes. So can your coverage.
Term Life provides affordable coverage that meets your time horizon needs. Fixed premiums are paid that protect you for a specific amount of time; usually 5, 10, 20, or 30 years. With the fixed length of the plan comes lower premiums, making term life plans more affordable for when there are higher priority payments in your life. Longer plans result in more expensive premiums in the short-term, but likely cheaper premiums as your age increases. Many of these plans also allow you to convert your coverage into a permanent life solution without any additional health questions or a medical exam.
Term life insurance allows you to plan for the different stages of your life. For example, a person confident in their career earnings may choose a term until retirement, after which they plan to re-evaluate their family's future. Whether it's providing a source of income for your family, covering mortgage or debt payments, or if you expect your health to increase in preparation for a permanent insurance plan, term life offers you flexibility to cater your insurance needs.
Our team has helped countless families with their term insurance policies, and can offer valuable advice in both starting a plan and what to do when one comes to an end.
Peace of Mind
Permanent life insurance offers coverage for the rest of your life. Premiums guarantee death benefits to the beneficiaries of the plan. These benefits can play an important part in estate planning and covering funeral costs. Permanent life plans ease the financial burdens during life’s most difficult times and give peace of mind that your family will always be protected.
Proactive Insurance Solutions
Compared to Term Life insurance, permanent life policies grow the value of your plan. Permanent life insurance policies have a “cash value” savings component which earns interest a market or minimum rate. This portion is accessible to the policy holder through withdrawals or loans. With Variable Life insurance, the cash value grows in an investment fund managed by the insurance companies, with its earnings going to decreasing future payments or increasing death benefits. Make your insurance work for you.
Universal vs. Whole
Different policies also offer varying flexibility in premium payments. Whole life plans have fixed premiums, while Universal plan premiums allow excess premiums to be paid. These excess funds add to the policies cash value and allow you to make decreased or fully skip payments in the future.
A permanent life insurance policy can be a large commitment. Our years of experience and clear explanations give you confidence your choice.