Life insurance is a very common asset that figures into many long-term financial planning. Purchasing a life insurance policy is a way to protect your loved ones and provide them with the financial support they may need in the event of a tragedy. The financial resource can assist with funeral expenses, pay the mortgage, provide funds to run the household and ensure that your dependents aren’t burdened with debt. Our carriers offer competitive life insurance products that can provide financial security for you and your family.
Life Insurance
When purchasing life insurance, it’s important to consider:
- How much coverage will you need?
- Should you choose whole life or term life?
- Who should I choose to be a beneficiary?
Types of life insurance
Term life policies are set up to cover you for a specific period of time. The most common term policies cover for 15-20 years. Depending on the age of insured, premiums start our rather inexpensive and increase in costs with your age. Some Term life policies even offer the option to convert to a whole life policy when the policy is set to expire.
Whole life or Universal life insurance covers the insured for the course of their life, even if you live to be 100 years old! An advantage of a universal life policy is that the policy builds cash value that you may borrow against in times of need.
There is no such thing as a one size fits all insurance policy but at Safe Key Insurance we will help forge the best policy to protect your families financial future.
Feel free to call, text or email Jeremy Amos anytime to schedule an appointment to talk about your insurance needs.