Life insurance works pretty easy
Life insurance can offer you some reassurance that the ones you love will be taken care of if a tragedy strikes. Payouts are tax-free, so that’s one less thing they will need to worry about. It is actually pretty simple – pay today to protect your loved ones after you're gone. But with so many types of life insurance out there, choosing the right one for your situation can be hard. We are here to help you.
Who needs life insurance?
Here are just a few times when life insurance can matter the most: Are you getting married? Starting a family? Expecting a baby? Starting a new business? In a new home? Preparing to retire? Worried if your paychecks could stop someday? Each step of your life is exciting but uncertain. Whatever stage you’re in, make sure your loved ones are protected.
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In the event of your passing, life insurance provides money directly to the individuals you select, your beneficiaries, who can use the money as they see fit, including:
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Replacing lost income.
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Covering basic living expenses.
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Paying household debts, estate taxes and funeral expenses.
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Funding a child’s education.
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Supplementing retirement savings
Different types of life insurance
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Term life insurance: Covers you for a length of time, and is generally the most affordable type of life insurance. If something happens to you within the term (10, 15, 20, or 30 years), your beneficiaries will receive the payout benefit. There are other types of insurance for people seeking life-long coverage, but they tend to be more expensive than term life policies.
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Permanent life insurance: Is a policy that covers you for your entire life, and usually builds “cash value” over time. There are few types of permanent life insurance policies:
1. Whole life insurance builds value based on a set schedule. You'll know the exact cash value of your policy at each anniversary. (If you take a loan or make a withdrawal from your policy , the cash value and death benefit will decrease.)
2. Universal life insurance earns a fixed interest rate on the cash value of the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate.
Whether you want to provide funds for your survivals to pay off the mortgage, for yourself to supplement your income in retirement, or to have a way to ensure your small business can continue, you have options to fit your needs.
The right life insurance type and amount
When it is the time to find out what is the right type of life insurance you need and what is the right amount you need to be fully protected, we will step in and walk you through the process of finding the right type and amount for your life insurance needs.
Call us today
Getting a quote is as easy as answering a few simple questions. This will help you determine for how much and how long you should apply.
Armed with your quote. You might qualify with no check-up required, and coverage taking effect upon payment of your first premium.
Get in touch to sign up for an insurance package today.
IPROMISE INSURANCE AGENCY
Your Trusted Source for the Best Insurance
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