Life Insurance
Life insurance isn't for those who have died—it's for those who are left behind. When shopping for life insurance, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs. A general rule is that you should seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: Term and Permanent.
Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiary only if you die within that time period. In a level premium term policy you pay the same amount of premium from the first day of the policy until the term ends. A permanent insurance policy, on the other hand, will stay permanently in effect for the rest of your life so long as premiums continue to be paid.
In the modern world of life insurance, many policies feature benefits that are available to help get through the financial strains that unexpected changes in your life can present such as terminal, critical, or chronic illnesses. It is important to consider the financial impact that one of these illnesses can potentially present. For that reason, we help our clients with both term and permanent insurance policies that have accelerated death benefit features directly addressing these concerns.
Peace of mind comes knowing that your life insurance policy is not merely used in the event of your passing, but can also be used to help in your living years as well.
Life insurance isn't for those who have died—it's for those who are left behind. When shopping for life insurance, consider needs such as replacing income so your family can maintain its standard of living, as well as paying for your funeral and estate costs. A general rule is that you should seek coverage between five and seven times your gross annual income. As far as the various types of policies go, they can generally be placed into one of two categories: Term and Permanent.
Term insurance generally provides coverage for a specified period of time and pays out a specified amount of coverage to your beneficiary only if you die within that time period. In a level premium term policy you pay the same amount of premium from the first day of the policy until the term ends. A permanent insurance policy, on the other hand, will stay permanently in effect for the rest of your life so long as premiums continue to be paid.
In the modern world of life insurance, many policies feature benefits that are available to help get through the financial strains that unexpected changes in your life can present such as terminal, critical, or chronic illnesses. It is important to consider the financial impact that one of these illnesses can potentially present. For that reason, we help our clients with both term and permanent insurance policies that have accelerated death benefit features directly addressing these concerns.
Peace of mind comes knowing that your life insurance policy is not merely used in the event of your passing, but can also be used to help in your living years as well.
