Life Insurance

Life Insurance 101

There are  different types of Life insurance coverage's available today. We'll look at the top 3 types and how they are typically used.

  • Term Life : 

Term Life insurance is the least expensive type of life insurance so you can generally purchase much more coverage and pay much less in premium. The reason it is called Term Life insurance is because the premium and the face amount will remain the same for a fixed period of time. You can select terms from 1 year to 30 +years, when the term has expired your cost will increase based on you age at the time of the term expiration. Term insurance is used

most often by young families because they can get more protection for less money to help pay things like replacing a lost income, to pay mortgage payments, car payments, monthly living expenses etc... in the event one of the wage earners in the household were to pass away prematurely.

  • Whole Life:

Whole life insurance policies have fixed premium amount and a fixed face amount that do not change as you get older. The same amount of whole life insurance will be double or more that of a term policy. Whole life insurance is a policy you keep your "Whole Life".  These policies are used as permanent protection for after your wealth/investments have increased and your debts have decreased. 

  • Final Expense Life:

Final Expense coverage is whole life coverage that is purchased for covering your final expenses, such as funeral, unpaid medical bills, small debts etc... Final Expense coverage is generally purchased with small coverage amounts that remain the same for your life, and the  premiums remain level as well. Some people will even use these policies to leave something to their grandchildren.

Family Life Insurance

 We know Life insurance, and we can help you provide the protection your family deserves.