Life Insurance, Protect Your Family and Protect Your Loved Ones!

There is one constant in everyone’s life: eventually, you will die. It is a cold and hard truth, but it is an important one. Eventually, your loved ones will be left without you and, if you were the primary worker, without the money that you would bring. This can cause major financial problems for your family in the future, as funeral prices are constantly rising. Thus, this leaves one major solution: secure a life insurance policy today! Whether term or whole, these policies can save you and your family large amounts of grief later in life.

Baby With Life Insurance

There are two different types of life insurance available. The first is known as term life insurance. It is life insurance that only lasts a certain amount of time, the “term.” It is usually purchased by older individuals as it is cheaper, but provides a good level of protection for what is needed. Additionally, it can be purchased for ten to twenty years, allowing the policyholder to purchase it when they get older and only pay premiums for a short time. This saves time and money, allowing them to get the full benefits of life insurance without having to pay over the years. It can also be used by those going into dangerous situations, such as working on an oil rig or another dangerous job. Purchasing a term life insurance plan for the amount of time spent in the dangerous occupation can save money, but provides a backup in case of an accident.

On the other hand, there is whole life insurance (which can also be called “permanent” by some parties).. Whole life insurance lasts from when it is started until the policyholder dies, or stops paying the premiums. These policies generally build up value over time, which can be borrowed against. This allows the policyholder to use it as a safety net in times of need. Additionally, the policy can be used to invest in. Many insurance companies are investing in stocks and bonds through life insurance plans. Those who purchase the plans are guaranteed an increase so that the plan remains profitable for them. However, many companies put a cap on the plan, so if the market rises more than the cap, the policyholder gets a maximum increase and the insurance company gets to keep the rest. This benefits both parties as both will eventually make a profit. This, combined with the fact that a whole life policy will last throughout your life makes it an attractive option to start early. It builds up more value over time and is available if you fall on hard times.

Both of these types of insurance are important depending on your age, health and occupation. For example, life insurance generally will not cover acts of war, meaning that it is useless for any soldiers.

Most life insurance policies require you to have a physical before purchase, meaning that, if you are in bad health or smoke, you may have higher premiums. This doesn’t hurt as much with a term policy, as it will be ending eventually, but it can be devastating on a whole policy.

Additionally, term policies are perfect for those getting on in years. They can last anywhere from ten to twenty years to forty years and will cover everything needed for when someone passes away. This works very well for those who have unstable health or are merely unable to do all the things they once were able to. With a term plan, you would be spending less per month, but would get all the benefits of having a plan, such as covering funeral costs and leaving amounts to the beneficiaries designated in the policy.

Overall, whether you are in good health or bad, young or old, in a desk job or out in a dangerous one, life insurance is absolutely essential. It covers all the uncertainties that lie with death, keeps your loved ones safe and secure and will help them for years to come.  If you are interested in a life insurance plan for your loved ones protection then would love to help you on your path to getting great coverage.  Please fill out the quote form at the top of this page or call us today!

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